A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Missed the first five minutes? Don't even bother. Just go back home.
SPXBullish long day. Midpoint below EMA(10). Failed SMA(55). Still above the 38.2% retrace (1278.72). No daily 3LB changes (reversal is 1306.10). QE2infinity. "JBTFD. Don't question it. Just do it." quote from "The Bernank" Ch 6 Sct 66.
DXYSpinning top day. Midpoint below EMA(10). Now below the 0.0% retrace (75.63) from 11/4/10. Below all SMA's. New low on daily 3LB (reversal is 76.33).
VIXBearish long day. Midpoint below EMA(10). Back below SMA(21). Daily 3LB reversal down (reversal is 29.40). Still below monthly 3LB & weekly 3LB mid. Still in the "some fear" zone.
GOLDShooting star day. Midpoint above EMA(10). No test of 0.0% retrace. Still above SMA(21). No daily 3LB changes (reversal is 1437.70). Held above upper trend line. Must have the precious.
EURUSDBullish short day. Midpoint above EMA(10). Well above 1.3870 (the 61.8% retrace). Above all SMA's. New high on daily 3LB (reversal is 1.3978).
AUDJPYBullish long day. Midpoint below EMA(10). Still above SMA(233). Also held its 61.8% retrace (0.7995). No daily 3LB changes (reversal is 0.8157).
JNKBullish long day. Midpoint above EMA(10). Back above SMA(21). Back above its 50.0% retrace (40.42). Still below lower trend line. New high on daily 3LB (reversal is 39.58).
10YR YIELDBullish short day. No test of 0.0% retrace at 37.44. Held SMA(89). Midpoint below EMA(10). Held the upper trend line. No daily 3LB changes (reversal is 33.93).
DJ TRANS AVGBullish long day. Back above all SMA's. Midpoint above EMA(10). Daily 3LB reversal up (reversal is 4950.00).
TLTBearish short day. Midpoint above EMA(10). Still above SMA(89). Still above lower trend line. No daily 3LB changes (reversal is 89.68).
BKXSpinning top day. Midpoint at EMA(10). Tested and failed SMA(21). No daily 3LB changes (reversal is 53.31).
COPPERBearish short day. Midpoint above EMA(10). Still below SMA(21). No tests of 0.0% retrace (4.667). No daily 3LB changes (reversal is 4.137).
42 comments:
Ben (and others) -- curious to know your opinion if the Neely count is wrong...My understanding is that he is calling this as the beginning of the big C wave down, right? So, if this is merely an X connecting us to another move up, could the X wave be complete already? Sometimes, a little wave knowledge is a dangerous thing :-)
Can't wait to see how Japan opens after their long weekend.
http://mobile.edn.com/article/517444-AT_T_s_39B_T_Mobile_buy_could_bring_more_balanced_smartphone_market_share.php
good overview 'blab' on AT&T T-Mobile 'hook up'...
AAIP
it's, always, funny that 'Katie' never mentions these kinds of Stories..
"A former Northrop Grumman Corp engineer who worked on the Stealth bomber has been sentenced to 32 years in prison for providing classified national defense information to the People's Republic of China (PRC), illegally exporting military technical data, as well as money laundering, filing false tax returns, and other offenses.
According to the FBI (Federal Bureau of Investigation), Noshir S Gowadia, 66, of Maui, was sentenced this week to 32 years in prison. Gowadia was an engineer with Northrop Grumman from 1968 to 1986. Over that time he contributed to the development of the propulsion system and low observable capabilities of the B-2 Spirit bomber, often referred to as the Stealth bomber. Gowadia also continued to work on classified matters as a contractor with the with the US government until 1997, when his security clearance was terminated, the FBI said.
The sentencing followed an August 9, 2010 ruling by a federal jury in which Gowadia was found guilty of five criminal offenses relating to his design for the PRC of a low-signature cruise missile exhaust system capable of rendering a PRC cruise missile resistant to detection by infrared missiles.
The jury also convicted Gowadia in three counts of illegally communicating classified information regarding lock-on range for infrared missiles against the US B-2 bomber to persons not authorized to receive such information. Gowadia was also convicted of unlawfully exporting classified information about the B-2, illegally retaining information related to US national defense at his home, money laundering, and filing false tax returns for the years 2001 and 2002...."
http://mobile.edn.com/article/512439-Stealth_bomber_engineer_jailed_for_spying.php
ibid.
"JBTFD. Don't question it. Just do it." quote from "The Bernank" Ch 6 Sct 66.
Now, that's funny.
Back from Austin...Spring Break is over...ready to get back to work.
Some thoughts on Austin, TX. It's definitely the "coolest" city in Texas. Even the snobs in California who think everyone in TX is a redneck/baptist/homophobe/racist/TeaPartier would think Austin is a "cool town."
But, man o' man, the traffic there really, really sucks now.
Too many peeps in Austin for my taste.
~~~~~~~~~~
wunsacon said...
"Taxes are a curb on future price inflation."
-Palyi
Since Obama/Dems elected to extend the Bush tax cuts and might even lower corporate taxes further as a expansion of the dominant Reagan-Keynesian economic policies, we should see even more dollar devaluation.
March 20, 2011 12:35 PM
~~~~~~~~~~~~
Wunsacon, I'm not sure about that above statement. I think that concept is completely wrong.
"ben22 said...
it could also be argued it cost market makers lots of money, probably cost them the most of anyonoe, and so prop trading got bigger and bigger, and we all know who wins from that
but even that is changing, despite no change to decimals"
~~~~~~~~~~
Well, if you listen to "free marketeers" and "Libertarians" like Barry Ritholtz, he'll tell you we need to bring back bigger fractions in order to make sure market makers make an easy buck. That way they won't be out doing "risky" things to earn a buck.
Who's all for MM's making an easier buck? Are you with me?
Pfft.
in re: decimalization....
Trading in mandatory increments is bullshit. It makes no logical sense whatsoever. It does NOT prevent big block orders from going down. Those orders get done on different trading floors anyway.
There ain't nothing wrong with decimalization.
Thoughts on the NCAA Tournament.
Anyone else think it's a fantastic tournament? I'm loving it....
Was awesome to see VCU dismantle Purdue last night. Maybe they don't belong in the tourney, as some pundits suggested, but they sure did look like a powerhouse last night.
Also nice to see Notre Dame get clobbered. I'm a Roman Catholic and even I don't like ND or Notre Dame fans....
@AAIP
it's, always, funny that 'Katie' never mentions these kinds of Stories...
Ummm... Last I checked, Katie was busy practicing "barring the door"...
@Andy
I'm loving the tournament...
While my BRACKETS aren't perfect... In MY BIGGIE league (about 80 peeps in the pot), so far I'm 4th (with the BEST POSSIBLE score there), and ALL of my final 4 still alive...
Bottom line there is, at this point... If Ohio State walks away with it all (with Duke - Florida - & Kansas making it to the final 4...)...
I'm golden...
CV's "criteria" (posted last week)... Proved valid...
I said that Texas & Pitt were chokers...
And I had VCU moving forward (not past Purdue though)...
@AAIP (6:34)
Also on that story...
So does that mean that our cloaking devices will be ineffective against the Klingons?
Andy, if it weren't for the fact that you have to pay your taxes in dollars, why would you hold dollars?
@Andy
Oh... & on Austin...
Well all I can say is it's certainly better than SAN ANTONIO (a town where the Taco Bells apparently didn't learn the lesson about WHAMMY BURGER serving protocol...
http://www.youtube.com/watch?v=hM8qT9Xop5k
AT,
It's been a great tournament, the only thing I'd like from here is for Puke to get crushed and my Heels to beat OSU.....we'll see
no, strike that, for the heels to beat OSU and then to crush Duke in the Final Four, just so I can see Kyle Singler cry......that would make it one of the best dances ever
no policy actions devalue the dollar in an absolute sense, the dollar floats, put another way and to get all present day real life, the fact that the Japanese are about to "print" a trillion Yen or something and the Yen is rising throws cold water on the policy -> dollar value causality model.
and an interesting concept that the only reason to hold dollars is because one pays taxes with them, perhaps people will do that moving forward as CV is forecasting. Still, people keep dollars all over the world, most of which do not pay their taxes in dollars.....and lets say you pay no tax throughout the course of the year, you decide you'll pay a penalty and pay a lump sum when you file because you can effectively replace the dollar with other goods or forms of money and can come out in the black each year....since a person could in fact do this, wouldn't the better question be why more people haven't been doing so for the last several decades.
Still, people keep dollars all over the world, most of which do not pay their taxes in dollars
Pardon me, but WTF cares?
They HAVE held dollars (historically), because goods & commodities were priced in dollars (and probably their local fiats were in worse shape, and less liquid)...
But when LUMBER, or COPPER, or COTTON, or GOLD/SILVER, RICE or WHEAT are more valuable than Bernankes clownbux...
They'll hold those...
Hell... I talk to my friends in Italy... They see the Euro losing ground to crude & gold... They used to want to exchange for dollars, now they'd rather exchange for gold...
If the Chinese ever get their hands on enough gold or silver to peg, they'll do so in a heartbeat...
At that point, it'll REALLY be on like Donkey Kong to see what people have more FAITH in...
- Fiat paper (payable in a FRN promise)...
- or a YUAN certificate (redeemable in sliver or gold)...
That's the side of the argument I'm backing...
Yeah... and as for all those DOLLARS languishing around overseas?
Well I imagine the "holders" are getting pretty pissed off at the moment about what they buy anymore...
especially as the commodities either get in shorter supply, OR the paper transaction prices escalate...
It's almost as if commodity price inflation is HIGH ON THE AGENDA (in order to cull those notes back from the hinterlands)...
Xenon 133 Dispersion Animation - Radionuclide Has Blanketed Entire United States
http://www.zerohedge.com/article/xenon-133-dispersion-animation-radionuclide-has-blanketed-entire-united-states
Of course, this is just more FEAR MONGERING, right?
Will some informed person tell me how my life is BETTER as result of this?
(animation looks even less pretty for West Coasters)...
"...price inflation is HIGH ON THE AGENDA..."
They are..
~~
"...the only reason to hold dollars is because one pays taxes with them..."
They are..
~~
and, yes, the NCAA's have been great, good to see Fisher back in the mix..
was too bad UMich didn't whack out Duke..but, they'll get theirs..
AAIP
cv--
re: Japan/Nuke problem..
the 'Cained peep are being, seriously, Lied to (by the likes of 'Katie', et al.)
ibid.
cv--
you like YouTube..
http://www.youtube.com/watch?v=MjVCdPwE7XA
see if you like that one~
AAIP
@AAIP
I remember that YOU TUBE...
The original was something like the guy had a small dick or something...
From those same guys... I like this...
http://www.youtube.com/watch?v=YStk7dk6GcI&feature=related
@Jennifer,
nah, nothing to indicate his count is wrong yet, if we are in an X wave instead then I also would say it is not over yet.
...but central banks have nothing to do with anything...
The "MARKET" is a bunch of individuals with their TD Ameritrade accounts "firing off the trade" with their pattern recognition software...
gotta "hit the hay" (early risin tomorrow)...
over & out...CV
"wunsacon said...
Andy, if it weren't for the fact that you have to pay your taxes in dollars, why would you hold dollars?"
To pay for food.
Saw "Limitless"
Can recommend that movie.
I think they already do make those kinds of "magic pills." I know some adults on ADHD pills like Vyvanse and they claim similar effects.
http://en.wikipedia.org/wiki/Xenon-133
Half life of 5.3 days. Beta decays to stable Cs, which then drops.
Re: Tournament:
I have been enjoying it. I REALLY enjoyed watching Purdue lose. I watched a lot of Big Ten Basketball this season and, despite Purdue's record, my subjective assessment put them at 4th or 5th place in the Big Ten.
I am pulling for Ohio State in the East bracket. I want to see someone besides the exalted big teams win for a change. All of the teams that remain in that East bracket are just awesome. I don't know how the selection committee put them all together.
The Tarheels have to be the most talented team in the whole tournament, but for some reason they don't take care of the ball and look worse than they are. I don't understand how Roy Williams doesn't have this ironed out by tournament time.
PS:
You'd have to eat 2 pounds of the most contaminated spinach to absorb about as much radiation as you'd get from a CT scan of the head, says Dr. Clifford Chao, radiologist-in-chief at New York-Presbyterian Hospital.
People who drank milk with the highest measured levels of iodine for two weeks would absorb less than a year's worth of natural background radiation, according to a report from British environmental radiation group, Mike Thorne and Associates Ltd.
http://news.yahoo.com/s/ap/20110321/ap_on_he_me/us_med_healthbeat_radiation_food_q_a
~~~~~~~~~~~~~~~~~
"ben22 said...
ben22 said...
@AT,
if we are in the ExpandingT
because the C wave was 1.1618 of A, on the high side for this pattern, what would you expect for wave E?
March 18, 2011 3:09 PM
~~~~~~~~~~~~~
That comment was from a few days ago.
If this is an expanding triangle from the high, then the E-wave should be the largest wave...it should take the A-C lower trendline...IOW, it will be very destructive.
i.e. Let's say we fill all the gaps on the chart on go to 1318...the c-wave would likely be a 10% decline down to sub-1200 range.
>> To pay for food.
Why would farmers want to hold dollars? You might say "to pay for ___ (e.g., Playstations)". That sounds pretty valid. And round and round we can go.
But, why does the other person want dollars? Do you think this is simply a matter of one vendor having "confidence" that the next vendor will accept a dollar?
I don't think so.
The fact is: you *must* pay your taxes in dollars. That's the only item the government accepts. And you must pay your taxes or else go to jail. So that provides dollars with an intrinsic value.
Without that intrinsic value, no one would ever "have to" hold onto dollars for "any length of time". And, how long would that "length of time" be? Without the intrinsic value, I think the length of time would quickly drop (and not find the occasional support it finds on the DX).
...
By the way, I think Bernanke and the Obama administration are aware of this. They wanted to keep the Bush tax cuts because it helps destroy the dollar. And they want to do in order to make American labor "competitive".
(Can you imagine how deflationary it would be to take money back out of the economy?)
Sorry, prior post was to you, Andy. (I should type "Andy" or people's names bc ow how the heck can people find something addressed to them as the comments grow?)
Ben,
>> Still, people keep dollars all over the world, most of which do not pay their taxes in dollars.....
Maybe this isn't the best way of phrasing it but: Intrinsic value is "transitive". So long as Americans find value in these dollars, they'll sell goods to foreigners in return for dollars. Foreigners know this.
So, for instance, foreigners know they can buy wheat from America using US dollars. Farmers will accept them because (a) they can use them in commerce (provided others still have confidence to accept them) but ultimately (b) farmers can pay their taxes with them.
@wunsacon.
The idea you're talking about is an older idea and one discussed by the "hard money" types for a long time.
The amount of money actually paid in taxes to the USG in the form of dollars is actually very tiny compared to the amount outstanding credit/dollars in the system world wide.
Not to go too far down the "devil's advocate" aisle, but I could very easily hold gold or silver or some other commodity all year long and then exchange those commodities for greenbacks once every year in April to pay the tax bill. It would be a relatively small amount of greenbacks relative to total global commerce.
I think what you're getting at, on a deeper level, is the concept that "money," in all forms, is a "confidence scheme." All currencies "work" because we all choose to "trust" it as a medium of exchange.
The same can be said of any currency (including Gold/Silver/etc)....
Though, back to your point...NO FIAT currency has ever survived.
So, If I could live long enough to collect, I would be ANYONE that at "some point" the US Dollar will not be the reserve currency and at "some point" the US Dollar will suffer severe devaluation to the point where it needs to be "re-issued."
Of course, there is no telling when that "some point" comes....
So, good luck.
>> The idea you're talking about is an older idea and one discussed by the "hard money" types for a long time.
Yes.
>> Not to go too far down the "devil's advocate" aisle, but I could very easily hold gold or silver or some other commodity all year long and then exchange those commodities for greenbacks once every year in April to pay the tax bill.
And if your taxes were higher, would you need more greenbacks?
BoJ intervenes again but it doesn't seem to be working.
Who said you have to pay taxes... sheesh
You'd have to eat 2 pounds of the most contaminated spinach to absorb about as much radiation as you'd get from a CT scan of the head, says Dr. Clifford Chao, radiologist-in-chief at New York-Presbyterian Hospital.
Tell Dr. Popeye-san that last year I had exactly ZERO CT scans... & Probably ate about 10 pounds of spinach... (I especially like in in my homemade ravioli)...
Lucky for me... I grow my own spinach (except for the one time I didn't have any handy - got it from California - and contracted e-coli for a few days)...
How many CT scans did the readers here have last year? Bueller???
Pardon me if I'm friggin TIRED of the government and the media telling me to "please return to my home in an orderly fashion"... "nothing to see here" (while O'Bracket-ology has his family on a timely & convenient holiday in Brazil)...
@Andy
Of course, there is no telling when that "some point" comes...
Trust me... OR DON'T... (whichever you prefer)...
That "point" will come faster than you, I, or anyone will possibly imagine...
Recall that roughly 12 weeks ago there were no Tunisian street vendors setting themselves on fire, all Japan reactors were functioning as normal, the GoM was clean (thanks to some ass kicking), QE2 was FOREVER, the teapartiers were going to put an end to wasteful spending, the "fire was so delightful"...
Since we had no place to go... LET IT SNOW... LET IT SNOW... LET SNOW...
Well - IT DID... Black Swans...
Post a Comment