USDJPY (weekly info)-no change (below mid)
trend=no
direction=up (2 bars)
high= 83.88
rev= 80.42; mid= 82.25
If you're wondering why USDJPY skyrocketed and futures followed right along then look at the circle. G7 intervention. The BoJ bought a ton of dollars to drop the yen. They also are not sterilizing the purchase which means they printed yen for the purchase.
ES (weekly info)-no change (below mid)
trend=up
high= 1342.50
rev= 1289.50; mid= 1315.63
Another view on what intervention does in the after hours session. Bears be warned. Bulls need new winter outerwear. It's 10:45 ET. Let's see if they can keep this up until the regular session open.
Will today be this...
Or this...
EUR blastoff....
ReplyDeletethis has been quite a great example of news being meaningless to larger trends has it not?
ReplyDeleteyou had the japanese markets going down before the quake, the day of the quake they went up, japan was effed financially before this, everyone in the know was aware of their debt issues, they need to print Yen, and the Yen skyrockets, and so on.
even when news influences markets short term, it often does the exact opposite of what it is "supposed" to do.
good morning.. i was walking with a dear friend yesterday and she asked me to tell her what i thot of a stock tip she had just been given by a client that NEVER gives out financial advice.. and, Karen, you know I don't buy individual stock, but he said to buy GE, it was going to 60.. what do you think?
ReplyDeletepulled up a chart of GE this morning.. it rolled over in Feb.. the Japanese catastrophe has moved it 2 pts.
oh, so i missed the great yen move.. wonder how long this intervention will hold.. even the headlines are hilarious..
ReplyDeleteJapan stocks jump on G-7 pledge to intervene
Central banks move to weaken yen and calm markets
(if CBs are so powerful why haven't they strengthened the dollar and weakened the euro??)
strike that re, Nikkei going up day of quake...dow did, regardless, the point remains.
ReplyDeletek-
ReplyDeleteif you'd like a real 'eye-opener', plot a GE:Ag(Silver) Chart from 2000 ...
a Sight to behold..
~~
McB,
nice point @ 07:21 ..
~~
also, this book..
http://www.amazon.com/exec/obidos/ASIN/0452288398/ref=nosim/cryptogoncom-20
for those looking for some 'Summer Beach reading' ..
AAIP
@ben
ReplyDeleteI wasn't around last night, but I liked those probable 'characteristics' of wedges you described (7:14)...
Good stuff there...
Japan stocks jump on G-7 pledge to intervene
ReplyDeleteTranslation: Stocks up on... wait for it... wait for it... THE ECONOMY!
i don't know about yours, but my moon is spectacular !! huge in the western sky and and casting a soft glow thru the darkness all the way down to my house : )
ReplyDeletei should be out walking but that would be too scary alone even in my neighborhood.. who knows what creatures lurk.
mark, i did your GE:$silver !
ReplyDeleteand speaking of slv.. today it breaks up! along with everything else. bruce and I will have sour grapes together today.. me on YCS and he on UPRO.
He sounds like Ben: Keith McCullough
ReplyDeleteAs long as we're making up history as we go here - everything is going to be just fine.
http://finviz.com/futures_charts.ashx?t=SI&p=m5
ReplyDeleteSilver looks like ~35.01..
~~
G7 Intervention on Yen
March 18th, 2011
It had to happen. Anyway, there’s the “free market” for you.
There’s a lot of mythology about free markets in mainstream texts books and corporate media, but when the wheels come off the cart in Fiat Currency Hell (and have no doubt about it, the wheels came off the cart with this Yen thing), the global Soviet Ministry of Currency Value Stabilization springs to life and says, “The free market is wrong here. Manipulation is necessary.”
Call this nonsense whatever you want, but it’s not a free market.
Maybe it’s Free Market Lite.
Or, Free Market Extreme!#@*!
Or, Free Market Plus.
I know:
Free Market — Now with Even More WTF™
http://cryptogon.com/?p=21265
~~
k-
the GE:$Silver chart is a beaut, no? ;)
AAIP
@AAIP
ReplyDelete(7:44)
Wheteher I'm right ot wrong (because there's nobody, even insiders, who could probably verify this)...
Anyway, look at the date you tossed out there... 2000...
2000, for all intents and putposes, was the high water mark in equities... (I think even Prechter agrees with this)...
To make a long story short... The banks didn't want to be left as 'bagholders' from 20 years of excess & leverage...
So after the 2000 crash, they started lending money to everyone on the planet with a pulse (housing bubble)...
Then that crashes, and there's a liquidity crisis... (rules changes, QE & pomo, the 'nationalization' of debt, private profits, public losses)...
In any case, each & every time these boom busts occur (since 2000), they banks realize that there are only 2 ways to survive...
1. Blow another bubble (avoid deflation)...
2. Inflate the debt away (which is really impossible because it's mathematically impossible to PRINT "x" more debt in order to pay back "y minus x" debt of the future...
But it does extend the TIME factor...
Extending the TIME factor has LESS to do, IMO, with actually THINKING the problem will resolve iself organically (such as, another INTERNET will be invented, or FREE ENERGY will come online [the latter of which, ostensibly would be horrifying to banks & politicians because they couldn't PROFIT from it, or at least they'd have to be clever about it])...
So we come down to the thesis of DEFLATION vs. INFLATION...
Banks CAN survive a hyperinflation, they DON'T survive a DEFLATION...
Well, let's put it this way... They could survive EITHER, but it would depend on where they were positioned in terms of their asset holdings...
1. They are in the process of owning vast chunks of LAND (because they hold the notes on defaulted mortgages - and are cutting a WHITEWASH deal on culpability as we speak thanks to out puppet POTUS)...
2. They basically OWN the politicians, because they'll "up the limit" on the credit card any time they're asked, and continue to send 0.5% teaser rates (so you can write off one balance, and transfer it to another balance)...
All they need to do now is get the PM's in their vaults and they have the whole YAHTZEE...
They've created a paper market for these (where they can suppress the spot price by printing themselves free money any time they want)...
Then, like CV going to the supermarket (& bank), and getting a couple of $2 rolls of nickles a pop... they s-l-o-w-l-y accumulate the PHYSICAL 'precious' and take delivery for it...
Frankly - When you think of it in those terms, the more DEVASTATING occurrence (to the average joe), is a hyperinflation scenario is where their LIFE SAVINGS are wiped out, and they become a DEPENDENT in the end...
I'm betting that the banks (and Patriot Act loving politicians) have that very scenario in mind)...
So get in line for your RFID chip... When the price of "lollipops" starts to go up, you'll know the end is near...
"putposes"... lol
ReplyDeleteA funny Freudian slip...
CV,
ReplyDeleteI don't man but it looks like I've already blown it with the brackets, way too many mistakes yesterday.
What a great opening day it was though.
Karen,
ReplyDeletethe moon was great here last night also, it looked huge. I might bust out my scope tonight, it's supposed to be 70 here today...yay!
"2000, for all intents and putposes, was the high water mark in equities... (I think even Prechter agrees with this"
ReplyDeletethat's right, he does. he likes to chart dow in gold since then (2000) and say "if people still used real money it would be easier for them to see the depression in stocks" as priced that way peak to trough we were down 80% +.
@ben
ReplyDeleteI haven't checked my brackets yet...
Gonna do that now...
@ben (8:21)
ReplyDelete+++++++
See? I'm on Prechters side on a lot of things...
And FRANKLY... I think THAT (call it, the "Supercyle High" if I'm not mistaken)...
Is the Rosetta Stone...
oh yeah you guys are, you have a lot in common with RP, probably more than you'd expect despite him being in the deflation camp.
ReplyDeletethere's a lot of misinformation about Bob on the interwebs, I've read every single one of his books, the guy is really not what people often think or claim he is
and of all the pundits out there, I still don't understand why so many people hate him so much in particular, he's maybe one of a handful of people that go on tv on the regular that seem somewhat normal to me, even with his radical views, the rest of these folks live in happy land all the time.
Just looked at my brackets...
ReplyDeleteGrr... A few mistakes, but not a catastrophe...
Louisville really has me bummed...
Why?
Because I'd 'considered' taking Morehead State, then, I DID predict Richmond would topple Vandy, but I only moved Louisville to Sweet 16 for that reason...
If I'd have taken Morehead State, then I'd take Richmond to go to Sweet 16 (and still be pure there)...
That would have been a sweet bonus versus a lot of other peoples brackets...
C'est la vie...
If "ifs" & "buts" were candy & nuts... Oh what a wonderful world it would be!
UUP in premarket below 21.77 now.. that was the low of early 2008..
ReplyDeletei think crude just dropped nearly $2
ReplyDelete#Libya foreign minister: Libya accepts the #UN resolution for immediate ceasefire -- Reuters
ReplyDeletei think that did it.. there is an immediate ceasefire from accounts i am reading.
ReutersBreakingNews
ReplyDeleteLibya accepts U.N. resolution for immediate ceasefire, decides to halt all military action - Libyan foreign minister
http://www.bloomberg.com/news/2011-03-17/just-imagine-big-tokyo-quake-23-years-later-commentary-by-michael-lewis.html
ReplyDeleteMichael Lewis follow up to his 1989 article..
wonder what the Libya factor contributed to gold $10? anyway, limit down would be $10, think
ReplyDeleteIt will be a wild open.. glad I'm up early or I wouldn't know up from down.
ReplyDeletelooking at ES, I'm thinking there is some pinning going on....people that got greedy early this week holding long puts are going to feel "max pain" today....if bulls can push it higher than 1,300 I'll change my near term views about things.
ReplyDeletemark -
ReplyDeletewith this, "if you'd like a real 'eye-opener', plot a GE:Ag(Silver) Chart from 2000 ..."
try GE:SLW from 2005
Karen -- no ER for me last night! But who knows what the weekend will bring! My portfolio might need a little CPR after this morning ...
ReplyDeleteNorth Dakota gas flaring at record high
ReplyDelete10 minutes ago
(AP:BISMARCK, N.D.) The amount of natural gas being burned as an unwanted byproduct of oil production in North Dakota is at an all-time high, state officials said.
Oil companies burned 24.1 percent of the 10.5 billion cubic feet produced in January, the most natural gas flared in one month since December 2008, said Lynn Helms, director of the state Department of Mineral Resources. Gasses and vapors coming from the well increase the so-called flaring percentage to 29.5 percent, he said.
The federal Energy Information Administration says less than 1 percent of gas is flared from oil fields nationwide, and less than 3 percent worldwide.
Flaring has increased in North Dakota with the explosion of oil development of the Bakken and Three Forks formations in the western part of the state. Companies and state officials say excess natural gas is wasted because of a lack of infrastructure in North Dakota and a glut in the market...."
http://news.ino.com/headlines/?newsid=6897717638180
~~
McB,
to be clear, I love Prechter, his work on 'Socionomics', alone, should earn him 'high Plaudits'..
AAIP
@mcf
ReplyDeleteI looked at your brackets...
Ouch-a-rino!
Funny thing is, I only had one more right than you, (but I still have 15 out of 16 'sweet 16-ers" & all 8 "elite 8's")...
72bat,
ReplyDeleteyes, no kidding, there are 'more extreme' examples..
SLW would be a good 'denominator' to use, in that case..
similarly, a friend of mine was Long C, from her Grandma, in 2000..
LSS: I told her to Dump it and buy FAX (she was looking for safety/income)
the C:FAX Chart is a thing to behold..(even, ex-Div.)
AAIP
....if bulls can push it higher than 1,300 I'll change my near term views about things...
ReplyDeletehere, too..
4 some *reason, 1,300 seems like a 'magic #'..
ibid.
yeah, I'm toast on the brackets...ROR
ReplyDeleteMark,
totally agree with you and I think in the end the Socionomics stuff is what he'll be remembered for, just probably much further down the line, maybe not even during his lifetime. Socionomic interest is gaining lots of momentum and finding its way into colleges as well, they are holding the very first socionomic summit this year in GA, people are really starting to show a greater interest in it, I suppose more people are starting to think we aren't all rational actors that can be modeled.
on SPX daily chart, the 20 is crossing the 50 right around 1300...it seems to me that there is almost a magnetic attraction when the moving averages cross, but with the two together they should serve as pretty strong resistance. If we get over them it will make the picture look very bullish.
ReplyDeleteI see all the new "liquidity" found its way to gold.
ReplyDeletere: liquidity
ReplyDeleteI'm just going to throw out there that Hussman's papers on the lack of liquidity that a quantitative easing program provides are thought provoking.
I still believe people are confusing speculation/animal spirits for liquidity.
all have a good day, gotta run.
Karen,
ReplyDeleteYep. Should have held the UPRO. Uncle Tepper called me last night and had a good laugh..
http://www.reuters.com/article/2011/03/17/us-nike-idUSTRE72G7YU20110317?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29
ReplyDeleteNike to raise prices sharply as costs hit gains
...Cost-Push inflation is what she is, Captain...
http://www.nytimes.com/2011/03/18/business/global/18auto.html?_r=1&ref=business
ReplyDeleteDETROIT — General Motors said Thursday that it would temporarily shut a truck plant in Louisiana because it could not get enough Japanese-made parts, the first in what analysts say could be widespread disruptions at auto plants in North America because of the earthquake, tsunami and nuclear crisis half a world away.
...I believe that used to be called "just in time" manufacturing..
http://www.cnbc.com/id/42130406
ReplyDeleteUS Cost of Living Hits Record, Passing Pre-Crisis High
"One would think that after the worst financial crisis since the Great Depression, Americans could at least catch a break for a while with deflationary forces keeping the cost of living relatively low. That’s not the case."
FFIV didn't get with today's program...just lost its 200.
ReplyDeleteWhen the PHYSICAL is in someones hands, "prices" are not that important...
ReplyDeleteIf I bought a rack of ribs at $1.99 a pound and put it in the freezer, I'm not worried that it's $2.39 right now... & I'm very patient to see that one day where I might be able to buy it at $1.99 again... Whether or not that day comes...
If I bought it at $2.39 (and the next day the price drops to $1.99)... I'm a little bummed that I didn't get the best deal, but it also inspires me toopportunistically add a 2nd rack to the freezer... So I'm actually happy...
---
Instead - I hardly get any satisfaction in paper prices...
- Unlike the meat (where the PRICE went down to $1.99 and I buy more), I'm KINDA happy, I guess, that I can buy more stock and lower my cost average... But I'm also nervous and anxious, HOPING that the BOTTOM is now in and these LOSSES go away quickly on my theoretical balance sheet...
- If my stocks go up... I'm happy, but now NERVOUS about the point that I'm going to have to actually LOCK IN those profits... Forever wary about dips & things...
Then, there's the 'commissions & fees' tacked on to that for buying & selling, and the TAXES you pay on your profits...
Needless to say... Owning food & PM's is a lot easier on the nerves... Especially given the fact that if you FAIL to trade well, you end up being able to buy less food anyway... OR, the fact that even if you're a trading GOD, the 'food', these days, seems to be going up faster than your purchasing power...
Ironically, it's relative...
A 'trader' might brag about winning 20% on a $20,000 trade (hey look! I'm a trading GOD! I made $4,000 (minus the capital gains)...
But what if you bought a bag of coffee beans at $7 and now the price is $14??? Or if you exchanged a roll of nickles at face value (and now they're worth 7.5 cents... 50% profit)...
You're just some LOSER picking up pennies on the sidewalk...
But if you can compare your winnings to the equity traders, you're BEATING THEM BY A MILE...
Now- Go ahead and 'rationalize' that argument by saying "Well - I can't drink $20,000 worth of coffee", or, "What do I do with all these nickles"...
Let me answer that...
You, as an INDIVIDUAL, probably can't consume that much... But think out of the box...
What if you're a BANKER, who simply thinks of the BEST profit ratios... (50% or 100% is better than 20% right?)... It's simply a numbers game...
So why on EARTH, if the opportunity is available, wouldn't they want to try and send the money flow over towards the assets (PHYSICAL, as they may be), which are offering the best return...
They don't care if it means millions starve...
EVEN WORSE... Since the people on the lower end of the totem actually NEED the stuff, they'll be scrambling like banshees to get it off the shelves... Which justifies the reason for owning it in the first place...
A "glut" occurs when you have 3 or 4 obsolete cellphones in your closet...
Most people have more of that type of stuff than they have even a weeks supply of food in their pantry...
My gift (of wisdom) to you all...
EUR painting another flag....
ReplyDeleteJenn.. watch IWM.. almost a 3rd inside day but we did get a few pennies higher than yesterday.
ReplyDeleteKaren -- I saw! I know you're supposed to buy the breakout, but I'm not inspired.
ReplyDeleteSomeone's been working hard in the overnight sessions...
ReplyDeleteThats two nights in a row we have tested or broken key technical levels on overnight volumes that are well, pathetic.
They will not hold over the near term. I am almost certain of that.
If the moves are meaningful, they come on volume, "regular" trading volume...
Total quad witching fraud fest if you ask me...
ReplyDeleteEven if we are going higher from here, unlikey...
We will need to retest the "overnight prints" period.
Another reason I dont like options...
ReplyDeleteI-Man.. thanks for putting it in perspective.
ReplyDelete"Someone's been working hard in the overnight sessions"
ReplyDeleteYep...
Thieves suck, but powerful thieves suck a lot more.
ReplyDeletecombine quad witching & "yentervention" and whadda ya get?
ReplyDeleteGodzilla vs. Mothra!
oh, no! i found another triangle.. look at GLD on a daily.. see that trendline down? see how it hasn't been breached yet?
ReplyDeleteJust checked the mail, nice call Bob...
ReplyDeletePowerful move there. Take it to the limit.
The line its trying to retest looks a lot like the 1x1 angle off the recent low.
The breaking of that angle signifies the end of an uptrend, the retest of the angle, the nail in the coffin.
Thats why he called it the "Death Line."
Have no fear everyone, the US Government is on top of things...
ReplyDeleteSee? They're banning menthols.
That should turn it all around.
Seriously...
And screw "yentervention"... the yen is a buy. Plain and simple.
ReplyDeleteBring on the intervention, I kinda miss buying dips.
They are talking about the Super Moon on CNBC....its gone mainstream.
ReplyDeletecv--
ReplyDeletere: "...I hardly get any satisfaction in paper prices.."
no kidding..
LSS: I was buying these things up to U$D ~40
http://www.24carat.co.uk/frame.php?url=panama20balboasilvercoins.html
We were using them as 'Nickels' (=U$D50)
now, that they're trading N. of U$D 100..
noone is 'happy' about it, rather, it's just, another, reminder that the FRN is FOS(at best)--Truly, a 'Paperback'..
but, this: "...I'm not worried that it's $2.39 right now..."--Technically, is wrong/shouldn't be..
the $2.39 is your ~Opportunity Cost of 'eating those Ribs' ...
AAIP
They're banning menthols
ReplyDeleteAs long as they don't ban MENTOS...
Otherwise - What would I do on the weekends??
http://www.youtube.com/watch?v=hKoB0MHVBvM
@AAIP (10:23)
ReplyDeleteAll I know is that I try to make it point to use the EXTRA SPECIAL PREMIUM barbecue sauce on the $1.99 rack...
I feel I "owe" it to them (for treating me so well at the point of purchase)... :-)
my kids love to explode Mentos in Diet Coke...I recommend this in the summer so you can hose off all the little scientists before they come back in the house as that stuff sprays FAR.
ReplyDeletecv--
ReplyDeletein that case, it's All Good~! :)
ibid.
ewj is only up 1 pt from the 52 wk low..
ReplyDeleteKaren -- then there's still time to btd :-)
ReplyDeleteOh, Jennifer, so true! thnks for reminding me.. was just looking at AMD chart..
ReplyDeletetoday has me beyond confused with copper down.. and why isn't gld taking out 139??
crude doesn't know up from down..
215.00 NFLX110319C00215000 0.14 1.46 0.12 0.14 2,875 5,516
ReplyDelete220.00 NFLX110319C00220000 0.01 0.36 0.02 0.05 1,030 6,332
http://finance.yahoo.com/q/op?s=NFLX
'Synthetic' 217.5Oc now under U$D 0.15..
Rule #1(in Options): ABS Always Be Selling.
AAIP
IWM making a new hod..
ReplyDeleteok, I'm out..too Nice a day, Today, to be inside..
ReplyDeleteas well, there's other 'hair to cut'..
I'll try to catch up later~
AAIP
DougKass Douglas Kass
ReplyDeletei am shorting some of the banks, after the fed's dividend pronouncement - could mark top of sector's strong move since midday yesterday $$
yeesh. nice bounce back ripper.
ReplyDeleteI think a lot of technical damage was done. 1300 will present some psychological resistance. There are little "gaps" all over the place on the move down. The first would take you to 1293.
The move up has been strong enough that it probably means we have sideways/higher price action next several days. IOW, if you're a bear, I wouldn't be betting on another new low anytime in the next few days.
Over the next several weeks, the picture does look bearish, though. A temporary top was put in at 1340 and this market will continue to correct (sideways/lower) next several weeks.
LSS: This looks a countertrend bounce in a bearish trend.
This Sunday is my Wedding Anniversary (14 Years of Bliss!). As I mentioned in the comments earlier this week, I'll be out this weekend in Austin, TX with the family.
ReplyDeleteHope everyone has good weekend.
congrats AT!
ReplyDeletein this day and age, 14 years is no mean feat.
Congrats Andy. Have a great weekend.
ReplyDeleteJJC at LOD.. this is all nuts.. it has been a tell.. along with the financials which aren't exactly soaring on the div news..
ReplyDelete@Andy
ReplyDeletehttp://www.youtube.com/watch?v=knp9-GY6fHE
zerohedge
ReplyDeleteIBM SUED BY SEC FOR ALLEGED BRIBES OF CHINA, KOREA OFFICIALS Unclear if for bribing too little or too much
See what happens, Donny?
ReplyDeleteDougKass Douglas Kass
ReplyDeletestopped out on bank short rentals! that was quick !!
div raises and share buybacks announced..
ReplyDeleteThe Fed is twisting the knife that's in the bears back.
ReplyDeleteBreakfast with Dave is becoming a subscription service....darn.
ReplyDeletei will refer you all to DIA on the 60 min chart over the last ten days. having a hard time getting back above the 50 ema and no volume!
ReplyDeletespy is even worse..
ReplyDeleteuup just traded to new low on day 21.73.. dollar under 76..
ReplyDeleteuup 21.72
ReplyDeleteNo TICKS above 1000 even with all of this bullishness (or is that BSness)
ReplyDeleteuup 21.71
ReplyDeleteAR -- new high on TRIN.
ReplyDeleteJennifer
ReplyDeleteTRIN under 0.70 is still bullish to me. I'd prefer it to get to 1.10 or higher to be bearish. Now PC Ratio at 1.011 seems bearish because there is more put buying going on. The USDJPY is barely holding on to 81.00 and is the key today (for me anyway).
Agree -- I just meant the trend for the day.
ReplyDeleteko and spy 60 min charts look alike..
ReplyDeletehttp://www.bloomberg.com/news/2011-03-18/japan-nuclear-crisis-remains-very-grave-as-forecasts-show-shifting-winds.html
21.69 on uup
ReplyDeletegold-crude-silver oblivious to dollar lows.
zerohedge
ReplyDeleteGOLDMAN SACHS TO REDEEM PREFERRED STOCK ISSUED TO BERKSHIRE
http://finance.yahoo.com/tech-ticker/look-out-below-why-skyscrapers-are-classic-bubble-indicators-536048.html
ReplyDeletea must watch video!!
GS got turned back at 160..
ReplyDeleteI see buying of IG & HY Corps and selling of IG & HY Munis. No one wants to hold city and state debt. Really? ROR
ReplyDeleteUSDJPY under 81.00? What happened? Did the CBs run out of magic pixie dust?
ReplyDeletehttp://www.bloomberg.com/news/2011-03-18/goldman-sachs-will-buy-back-buffett-s-5-billion-preferred-stake.html
ReplyDeletehttp://www.finviz.com/forex.ashx
ReplyDeleteUSDJPY 80.78
G7 intervention half life 17 hours?
@Amen (12:41)
ReplyDeleteThe latter...
BTW - peeps... CV is along with MEH today... Putting to "good use" this 70 degree day...
Mark - I hope you're playing golf or doing something fun like that...
CV is clipping up tree branches into kindling & logs from all that came down a month ago in the snowstorms...
PEEPS - TRUST CV ON THIS... THERE IS NO CASE FOR GLOBAL WARMING... I now have verifiable evidence (which I present to you all herewith)...
Every fucking molecule of carbon that was spewed into the atmosphere since the dawn of the industrial age has been "sequestered" by the intricate branch structures of the CHERRY & HONEY LOCUST trees on CV's property...
Every last molecule!.. Right there in tree jail!
I now proudly have the the "Captain Bligh" 24 lash WELTS on my body to prove it (because in pulling them off the pile to cut into smaller pieces, they took the opportunity to whip me into submission)...
So - the ONLY POSSIBLE way the planet ever gets to another ICE AGE (brought about by global warming), will be if & when CV sets a match to this wannabe FUNERAL PYRE...
I suggest you all treat CV with the utmost respect from this day forward...
Your fate & and the fate of this very planet is in CV's plans...
the Bernanks quadrillions?... pffffffft! NOTHING compared to the pyrotechnic display that CV is capable of at this very moment...
Haj help you all! :-)
spx now down more than 50% of today's move.
ReplyDeletehttp://www.ritholtz.com/blog/2011/03/if-banks-can-resume-dividends-can-the-fed-resume-normalized-rates/
ReplyDeletekaren
ReplyDeleteAs long as there is QE and excess reserves the banks should not be allowed to resume dividends. My $0.236
we should all take all our money out of the banks since they don't pay interest..
ReplyDeletedepending how much the pendulum was toyed with overnight...
ReplyDeletewe might end up with a nice sized down move between now and the bell...
I dont even get Karen to talk to?
ReplyDeleteI trade better when I'm not at home. Pathetic.
ReplyDeleteAT,
ReplyDeleteHappy Anniversary, I agree, maybe a little more chop up here for this wave but it's almost over, we may move sideways a few days more before the next one starts.
It would seem in the overnight someone was gunning for stops being opex and all, and pinned it right, a/d upside has dwindled all day long since the open, because the mission was accomplished about 10 minutes in today.
As I made all those notes the other day about 90% downside days, we've had no breadth indicator that has so far shown that the bearish message of the 90% down day was a fake.
This market isnt acting like one that wants to trade higher.
ReplyDeleteThe more I hear talk about "next lower high"... The more I expect to see pukeage.
the bank dividend is hilarious, all these fools and their silly models
ReplyDeleteAnd will the University of TN PLEASE fire Mike Hamilton???
ReplyDeleteThanks for totally destroying the psyche of our basketball team the day before our first NCAA tourney game, you asshole.
I-Man, i'm just incredulous.. that's all. and still unsure of what is going on..
ReplyDeletewhat were you seeing?
We broke down from the 1/28 low just now, and its held as resistance since we did so.
ReplyDeleteYM 11795...
And all those "hurdles" we've managed to clear technically over the past two nights...
ReplyDeleteWell, lets just say I dont think the market will leave those stones unturned.
Thats not to say that I dont think that this range we've been dinking around in for the past couple days isnt important, I think it is very important. Call it 11600 - 11800.
ReplyDeleteI think we will be back here around the end of the month, and this range will form the "real" lower high... still looking for that around 3/25.
@AT,
ReplyDeleteif 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?
I think this temporary low here was formed ("forced" maybe) because some big players were about to get hosed on this opex.
ReplyDeleteGotta call it like I see it.
These parlor tricks dont form lows... panic selling and shorts covering forms lows.
anyone mentioned aapl yet today?
ReplyDeleteWe havent even scratched the surface of panic yet...
ReplyDeleteJust wait til June.
AAPL currently is having a weekly 3LB reversal down (below 336.12) and is below its monthly 3LB mid (332.18).
ReplyDeleteanyone look at CAT today? could that be an abandoned baby in the making?
ReplyDeletesomeone just tweeted how bullish that was..
lol, I want to short that stock so bad (CAT)
ReplyDeleteI'll wait till we have confirmation that we are in the big C wave, then it should go back to the 60 range or so.
If not 52...
ReplyDeleteI remember that level last summer...
Alright, I've seen enough garbage for one day.
ReplyDeleteBetween the tape and the Vols, my mood has gone sour.
SPX managed to closed the gap from the Wednesday open but left the gaps from the Monday & Tuesday opens. Also a failure for the US markets to close higher after all fo the intervention is extremely bearish. Just sayin'
ReplyDeletelooks like we'll close back under 5 ema across the board.
ReplyDeleteoh, this will frighten everyone.. Mr Top Step
ReplyDeletechatter = MOC buy 580mm
Karen -- what does that mean? (always up for a good fright!)
ReplyDeletekaren
ReplyDeleteHopefully it's buy puts ;-)
Market On Close orders..
ReplyDeleteI googled it...so far so good :-)
ReplyDeleteokay.. leaving.. wasn't the best day.. look at CAT... loves the dollar lows.
ReplyDeletehave a great weekend everyone!
ReplyDeleteHappy anniversary AT!
MCD did not share in CAT's move.. that's for sure..
ReplyDeleteyes, happy anniversary and have fun in Austin.. : )
ReplyDeletekaren
ReplyDeleteTICKS didn't go crazy at the close so maybe the MOCs were cancelled?
new thread
ReplyDelete