Morning Corner 3.14.11

Yen (weekly info)
-no change (above mid)
direction=up (1 bar)
high= 1.23200
rev= 1.19030; mid= 1.21112

Unfortunately the earthquake and tsunami will cause the Yen to rise as the yen is brought back to Japan. This repatriation will help pay for the cost of rebuilding. Should also bring the US dollar lower.

Nikkei (weekly info)
WEEKLY CONFIRMATION new low 10254.43
direction=down (2 bars)
low= 10254.43
rev= 10842.80; mid= 10548.62

Nikkei was already showing weakness before Mother Nature made herself known. How many companies on the index have been affected negatively by what has happened? Insurance companies yes, construction companies probably not so much.

Copper (weekly info)
-no change (below mid)
high= 4.596
rev= 4.176; mid= 4.386

Serious selling of copper last week with a solid close below SMA(13). After hour trading shows that copper is now below its weekly 3LB reversal price. The Nov 2010 low (3.635) should be the first level of support in case of a reversal.


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karen said...

maybe we will get to listen to Kyle Bass tomorrow..

gotta run.. will check the corner and futures (and silver) tonight.. !!

Anonymous said...

We closed red....

AmenRa said...

SPX closed above the weekly 3LB reversal price. Four more days...

karen said...

spx closed higher than thursday.. second close under 50, tho..

AmenRa said...


SPX fought off closing under 1294 which was the line in the sand. The Libya low.

AmenRa said...

Today is also the 2nd close under the SMA(55) in the last three trading sessions.

Anonymous said...

I know it's the end of the world and everything, but we shouldn't forget that today is Steak and BJ Day.

New American holiday that comes a month after Valentine's day...

"Just sayin'"

Jennifer said...

Now that's funny.

Anonymous said...

What do the cards say?

the card sez said...

you will meet a tall dark stranger

spoonman said...

Don't want to click through at work, but if you are buying a card on steakandbjday you're not focusing on what's important.

Anonymous said...

URANIUM U308 62.0 -5.5 -8.15
CHEESE-BLOCKS 1880.0 -135.0 -6.70
2 YEAR 0.60721 -0.04157 -6.41
Extreme Futures

Bruce in Tennessee said...

Well, at least I am not confused:

First Oil, Now Earthquakes – Everything is Going to Cost More

...then the CNN don't worry be happy outlook:

NEW YORK (CNNMoney) -- Japan is at serious risk of falling into a recession due to Friday's tragic earthquake and tsunami, according to many leading economists. But Japan could recover quickly, sparing the global economy a significant shock.

...paper, rock, scissors...

Bruce in Tennessee said...

Uh, oil finished up 55 cents.

I await the tidbit tomorrow that says that that can't happen...

Ivory Towers...

Anonymous said...

The obligatory before/after pics.
Damn, lots of land just scalded.


A fixed income analyst to be named later said...

Signing off for now.

Will attempt to chirp in from London and Sri Lanka.
No promises.

Good luck to all.

AmenRa said...

new thread

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