A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: I stalk the markets looking for an opportunity.
SPXBearish short day (completed evening star?). Midpoint above EMA(10). Above all SMA's. Tested but failed the 14.6% retrace (1319.09). No daily 3LB changes (reversal is 1256.88). QE2infinity. "JBTFD. Don't question it. Just do it."
DXYSpinning top day (evening star?). Midpoint above EMA(10). Held the 0.0% retrace (75.63) from 11/4/10. Below all SMA's. No daily 3LB changes (reversal is 76.33).
VIXBullish long day (confirmed taker). Midpoint below EMA(10). Back above SMA(55). No daily 3LB changes (reversal is 20.21). Still below monthly 3LB & weekly 3LB mid. Still in the "no fear" zone.
GOLDHammer day. Midpoint above EMA(10). No test of 0.0% retrace. Back below SMA(21). No daily 3LB changes (reversal is 1392.80). Holding above upper trend line. Must have the precious.
EURUSDSpinning top day (also formed bullish thrusting). Midpoint above EMA(10). Still above 1.3870 (the 61.8% retrace). Above all SMA's. No daily 3LB changes (reversal is 1.3978). Is the run up finally over?
JNKBearish short day. Midpoint above EMA(10). Still above all SMA's. Closed below its 50.0% retrace (40.42) again. Still below lower trend line. No daily 3LB changes (reversal is 39.87).
10YR YIELDBearish short day. No test of 0.0% retrace at 37.44. Still above SMA(55). Midpoint above EMA(10). Held the upper trend line. New high on daily 3LB (reversal is 33.23).
DJ TRANS AVGBullish short day. Still above all SMA's. Midpoint above EMA(10). New high on daily 3LB (reversal is 4956.59).
CRBBearish short day. Midpoint above EMA(10). Still above all SMA's. Failed the 14.6% retrace (356.09). Daily 3LB reversal down (reversal is 359.57).
SILVERSpinning top day again. Still above all SMA's. Midpoint above EMA(10). No test of 0.0% retrace. Holding upper trend line. No daily 3LB changes (reversal is 35.86).
BKXBearish short day (close to a shooting star but we're not in an uptrend). Midpoint below EMA(10). Tested and failed SMA(89). Above its 38.2% retrace (51.48). No daily 3LB changes (reversal is 53.31).
24 comments:
From the other thread (and to solve an issue)...
Anonymous said...
Don't want to impose but could we just meet up at AmenRa's 3LB site next week if for some reason the lights go out here? Just asking...Do enjoy everyone's commentary immensely...
---
AmenRa said...
Anon
All we have to do is give Andy & myself full admin rights. We could then continue here with no problems...
---
Congrats! That was the sign that CV was looking for (which was my "high bar" as to whether anyone GOT IT or not)...
Peeps... Please believe me that I'm not being patronizing here... I'll summarize...
What NEEDS to happen here is that this blog CANNOT be CV's blog anymore (thus why I seeded an essentially 'drop dead' ultimatum over this past weekend)...
Some of you may ROLL YOUR EYES (over that motivation - and why it is important to me)... Others will spend a few minutes and reflect on the thoughts and ideas that I've presented over time and UNDERSTAND...
---ORGANICALLY---
I wanted to present the first ripple of a FEAR FACTOR... A fear factor which basically caused a scrambling of activity which inspired someone (or a collection"ette" of people to take hold of the reigns and say... "Dammit! This means SURVIVAL now!... So whadda we all gonna do about it?)...
I really had little doubt that you'd all figure it out, and that someone would come forward...
Anon (ironically) did, and AMEN was on top of that with the exact methodical STEPS...
But SURVIVAL is the highest echelon topic of what CV has been about since the beginning... My dismay... recently... has been that SURVIVAL is the least of all worries (to most of you here)... SO BE IT (as it is a dynamic that I cannot control - nor would ever attempt to)...
You're TRADERS...
But it makes NO SENSE for me to be the OWNER/ADMINISTRATOR of a "trading blog"...
I took the first step two months ago, by stepping down on my primary duty of DAILY THREADING (to assume a casual, and/or "emeritus" role)...
But that's become somewhat of a joke/caricature as well... Somewhat of a "OK, lets be nice and entertain the old lad since he ONCE put so much work into this thing"...
Don't take that as SADNESS on my part... It's the FARTHEST THING FROM IT... Remember... CV is the SURVIVOR of the group... & to ME "Survival" means that you constantly morph...
So basically - I've "morphed" AWAY from, let's say, ENOUGH of the daily "chiacchere" (that's an Italian expression, for anyone interested enough to "look it up"), to make anything I say really worthwhile...
Rod Serling might say... CV has become
THE OBSOLETE MAN
http://www.youtube.com/watch?v=EXzQD2SRESs
No FRETS!!! I'd say this is about the "dozenth" time in my life that I've achieved OBSOLETE MAN status... Each time I've moved on... AND LISTEN TO THIS... So DID the "groupology" of my former association (so if you're REALLY smart - you'll know NOT to take that as an indictment)...
Anyway... Down to functional "brass tacks"...
I don't want to offend, inconvenience, or harm ANY of you... AND AS I SAID BEFORE - your initiative passed my stupid/measly/sophmoric little SURVIVAL TEST (as described above)...
In fact, I'm impressed that it was addresed (functionally), so quickly...
All I need now is for AMEN RA to contact me (c'mon Amen - YOU'RE the one with 10 e-mails - I only use one - just ask me what to do)...
My WISH here is to pass 100% ADMINISTRATIVE control of this blog to Amen & Andy T (which is REALLY how it should have always been in the first place)... I think it would be the PROPER gesture (Which would assure that there was no unnecessary DATA DUMP... That the blog would live on in good hands... And to OFFICIALLY remove what I think has become CV's CLOUD of preponderence)...
---
If that is OK... Then let's LET IT HAPPEN... And PLEASE (for dog's sake)... WITHOUT any silly patronizing...
This is a BUSINESS operation...
Carry on! (I've REALLY enjoyed collaborating with you all - you're all TRULY remarkable!)...
CV
(I hope this all came out right - I didn't PROOFread it)...:-)
That makes sense CV.
AmenRa work is good and I'm glad he's posting his stuff everyday. Love the commentary here. I read them everyday even if it feels like I'm absent.
Would like to have Admin Privileges. At least once a week there's a moment I want to "add on" a chart to AmenRa's afternoon Wrap.
I fully understand the concept that "you need to do what you need to do."
Thanks, Andy.
CV
Somewhere in the place where you added posting ability to the blog is an option for full admin or just posting privileges. I'll look into blogger help to see where it is.
Also, would like to add this:
Please don't be "Obsolete Man"
It's abundantly clear that you don't mind an occasional argument and it's true that arguments on a blog can come across the 'wrong way' at times. That's just the nature of the beast. A great philosopher once said: "It is what it is."
I for one appreciate at least 61.8% of what you have to say. :-)
So, please come around and add your 1.618 Brazillion Cents when the mood hits.
In the meantime, keep your mind fresh for the next season of football. I'd probably PAY you for the weekly picks/assessments....
CV
Found it: http://www.google.com/support/blogger/bin/answer.py?hl=en&answer=41441
CV
Your sport brackets and picks are a must!
@Amen & Andy
Thanks for the reply (here)...
In any way... We'll work it out with no interruptions...
Basically - I think what needs to happen here is that we need to CROSS THE STREAMS - lol
http://www.youtube.com/watch?v=jyaLZHiJJnE
Don't worry... I'm sure it will work... :-)
---
But THE WAY for it to work out (and, of course, for me to behave properly)... Is that I RELINQUISH any and all "administrative" rights...
I hereby consign myself to flunkee role :-)...
So "if and when" you need a post on sports (or OSCARS) data... I'm happy to oblige...
I'll remind you all I'm still reigning champion in those areas (& ben, DIDN'T beat me in the NCAA brackets this year either)...
But it NEEDS to be known that this blog is NO LONGER IN MY CONTROL...
The only way I can BEHAVE is by the grace of invitation (if you all know what I mean)...
CV
f****** "Brazillion" is an 'instant Classic'..
that does crack me up..
cv--
I think I heard what you said, though, you might want to 'f****** wonder'..
this 2-d medium has limits, for sure, but, if I can make myself, half-way, intelligible, I'd think it within your Ken, as well :)
http://www.thefreedictionary.com/ken
that said, you may care to, at leat, try to percieve thwe recipients of your message--before 'heating the Ionosphere' ( again, :) )
AAIP
"leat", not "bleat", but "least"
@AAIP
Believe it or not... CV "kens" KEN...
ReKENmember... CV is the "scratch golfer" in the crowd...
It was a term ABUNDANTLY used in the novel "Golf in the Kingdom" (by Michael Murphy)...
http://en.wikipedia.org/wiki/Golf_in_the_Kingdom
This is a novel WORTH A READ by ANYONE (whether they like golf or not)... It's NOT about golf - It's about LIFE...
Of course... CV has read this novel again and again (probably 2 dozen times)... MOSTLY - on transatlantic flights (Business Class - of course) over the summer (from Italy to the US), while I was on my way to try and qualify for the US AMATEUR CHAMPIONSHIP...
I "almost" made it in 2001 (it was about 3 weeks before 9/11)...
Hershey GC (Hershey, PA)...
Shot 71-71 in 104 degree heat (missed the cut by 2 strokes - due to a triple bogey on the 20th hole... 36 hole tournament)...
It's MORE special to me because it was the LAST tournament that I played with my DAD at my side... I can't tell you how special that was...
Golf (& baseball, maybe) are like that...
It's "sons", "dads", & "earth"..."Traders" should try to NOT lose that in the TICKS (but I'm sure they don't)...
I think the other reason why this sort of blog needs to continue is to occasionally "counter" some of the really inane comments that exist out there. For instance, I just saw this comment in re: technical analysis/fundamentals:
~~~~~~~~~~~~~~~~
Txxx said...
Dxxxxx - but there are certainly some fundamentals that can affects the markets, if only in the short term. 9/11, Katrina, Lehmans. I've often wondered how (if at all) Technical Analysis works when you have something happen like a 9/11 that can drop the markets a thousand points.
March 25, 2011 3:37 PM
~~~~~~~~~~
The kinds of people who babble on in such a way don't even bother to research the facts.
The fact is that the S&P500 had peaked WELL BEFORE 9/11 and was already down 30% from the peak as of 9/10/01. A month after the 9/11 the market had fully recovered any losses.
If you had purchased stocks the DAY BEFORE 9/11 you would have been up 7.5% before the end of the year.
So, one could make an argument, that, in the "short term," 9/11 had very little affect on the S&P 500. Sure, there was one scary day, but in the grand scheme of that year, as awful a day as that was, it was relatively meaningless in terms of technical analysis.
The bear trend was already in place before 9/11.
But, whatever....
Then, we sometimes find "pearls of wisdom" like this:
~~~~~~~~~~~
"Txxx said...
Wowzers - look at what those socialists in Japan can do in six days. I wonder how they were able to do this, I thought government was inept and incompetent?
http://www.dailymail.co.uk/news/article-1369307/Japan-tsunami-earthquake-Road-repaired-SIX-days-destroyed.html
March 24, 2011 2:36 PM
~~~~~~~~~~~~~
You see, the "thought process" above is that because a government can marshal resources on short notice and fix a 100' section of road, it somehow means that government should be good at managing a trillion dollar economy with millions of inputs and outputs.
Funny.
It's futile to even debate with folks who draw those kinds of inferences.
Though, it's interesting to understand the inner workings of some people's "brain waves."
All that said,
I've got no problems "crossing streams" .... it wouldn't be the first time, though every other time was in some kind of drunken state.
If you want to be "flunkie," that's cool.
Was never a scratch golfer, but did sport a 5.5 handicap when I was "playin'". Would love to shoot a round with you sometime....
If you read NOTHING ELSE for the next 30 days.. you must read this:
http://www.economicprincipals.com/issues/2011.03.27/1248.html
karen
They got played. Nuff said.
Karen@11.34
Read the article. It's interesting for sure, but I'm not sure why the author is asking for contrition from Michael Porter.
I may be missing something here, but it sounds like Porter "ditched" Libya in 2007, after signing on in 2005, when he realized they weren't going to 'follow through'?
What am I missing there?
For me, it's all about who is in bed with whom.. 2007 was yesterday.. no controversy, just information.
information that was not widely known or published in the US..
karen
You know that feeling when you realize that you're the "mark"? That's the feeling Porter had.
There was a rumor that TEPCO would be nationalized. It went bidless on the Nikkei. Then the Japanese government released a statement that they weren't going to nationalize TEPCO.
So it's probably a done deal.
Currently S&P futures are higher but less than fair value.
@CV -- not surprised at all that you are a Golf in the Kingdom afficionado. For me, that book was a bit like "Apocalypse Now" -- I loved it for the first 2/3 or so, then it started to get too esoteric for me.
I thought Apocalypse Now was one of the greatest movies ever, until they went up river to Kurtz. All that Marlon Brando melodrama just didn't work for me.
- Whammer
P.S.: Charlie don't surf.
Please, continue the blog - in whatever form!
I know I never contribute - permanent stress from work is my excuse, we have a restructure going on, which is ok but its pretty frantic just trying to record and pass on the knowledge from my current-and-soon-to-be-extinct role.
Anyway, I love reading all the views expressed here including those of our blog-master-to-date since I'm attracted to the survivalist idea but had never encountered someone actually living that particular dream (and I wont be at all surprised if it turns out to be as "prescient" as previously discussed). And once the restructure at work is done I promise to haunt you all once again with my random shiraz-infused comments in the middle of the night.
Best to all, Bertie
Post a Comment