Monday, March 28, 2011

Morning Corner 3.28.11

DAX (weekly info)
-no change (below mid)
trend=no
direction=down (2 bars)
low= 6664.40
rev= 7426.81; mid= 7045.61


Germany is not doing too well. Made a confirmation low on the weekly 3LB and is still below the monthly 3LB mid. If they're supposed to be leading the way then it's clear which way we're headed.



DXY (weekly info)
-no change (below mid)
trend=down
low= 75.72
rev= 77.66; mid= 76.69



Last week formed a bullish piercing on the weekly chart. Is the dollar preparing to make its move higher? Many people believe the dollar should be heading to new lows because of monetary policy. The dollar may become a temporary safe haven as problems in Europe persist. Ireland is now talking about giving senor bondholders a haircut. The IMF is preparing for a major event. Fasten your seat belts.
at

63 comments:

  1. AnonymousMarch 28, 2011 at 7:36 AM

    Forex & Bonds Last Change Change %
    EUR/USD 1.4046 -0.0034 -0.24%
    USD/JPY 81.71 +0.37 +0.46%
    GBP/USD 1.5978 -0.0049 -0.31%
    5-Year Treasury 2.169 +0.056 +2.65%
    10-Year Treasury 3.444 +0.04 +1.18%
    30-Year Treasury 4.506 +0.036 +0.81%


    also, who likes
    http://finviz.com/quote.ashx?t=NTZ
    as any kind of 'Canary'?

    AAIP

    ReplyDelete
  2. AnonymousMarch 28, 2011 at 8:00 AM

    you know, as an aside, when I across 'anonymous' d-bags that say negative things about me, I, for sure, am the first one to fold in my Tent, pack up the Ruck, and scurry away..

    ibid..

    ReplyDelete
  3. BinTMarch 28, 2011 at 8:44 AM

    "The income report also includes a section covering personal consumption expenditures, also known as PCE. PCE is comprised of three categories: durables, nondurables, and services."

    Read more: http://briefing.com/Investor/Public/Calendars/EconomicReleases/income.htm#ixzz1Hth9hTjK


    ...income up .3% but spending up .7%...

    ...Now I wonder where it was spent?

    ReplyDelete
  4. AmenRaMarch 28, 2011 at 9:07 AM

    BinT

    At the gas station and grocery store...

    ReplyDelete
  5. AmenRaMarch 28, 2011 at 9:12 AM

    Gold and silver getting sold hard. PM expiration must be irking Blythe.

    ReplyDelete
  6. AnonymousMarch 28, 2011 at 9:13 AM

    yes, many anecdotal 'Stories' about J4P putting more, and more, of his Food & Fuel bills on the 'Credit Card'..

    also, 'hardship' Withdrawals, for 200.5(k) Accounts, at record highs..

    http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=Hardship+Withdrawals+401%28k%29+records

    ibid.

    ReplyDelete
  7. AnonymousMarch 28, 2011 at 9:14 AM

    Futures Prices
    Market Last Change %
    Crude Oil 104.15 -1.25 -1.18
    Natural Gas 4.504 +0.014 +0.31
    Corn 689.50 -13.00 -1.88
    Soybeans 1358.25 +3.75 +0.28
    30yr Bond 120.00000 -0.25000 -0.21
    10yr Note 119.187500 -0.312500 -0.26
    NY Gold 1414.9 -12.7 -0.89
    NY Silver 36.645 -0.404 -1.08
    http://www.ino.com/

    ReplyDelete
  8. 18March 28, 2011 at 9:20 AM

    I don't think I've said this before, better late than never I guess... Thanks Ra!, for the everyday charts and stuff... and thanks to everyone for your inputs!

    18

    ReplyDelete
  9. AnonymousMarch 28, 2011 at 9:20 AM

    http://market-ticker.org/

    Denninger has some good articles Today..

    incl.: "...We have plenty of laws already. The problem isn't that Elizabeth Warren is putting together the CFPB, it's that the entire concept of a CFPB is a joke and a fraud upon the public in the first instance. The more byzantine you can make a set of laws or regulations the more you can wave your arms and pretend to be doing something important while accomplishing nothing at the same time the Jester is stealing all the cookies right out from under your nose.

    The banking industry has turned this sort of Washington DC hand-waving into an art form. We have seen money laundering, passing of funds to and from barred nations such as Iran while intentionally obscuring the source or destination of funds, crooked sewer contracts in Jefferson County Alabama and well over a trillion dollars in bogus mortgages made and peddled worldwide. Any of these, standing alone, should have been enough to shut all of these firms down.

    The real scam is that we continue to fall for the false claims and people screaming and shouting about that which will do nothing to stem the scams and frauds, for the simple reason that we need no new laws to sanction the conduct that took place.

    Without a prosecutor who will actually prosecute all we're doing is making noise to divert the public's attention while the thieves steal all the loot..."
    http://market-ticker.org/akcs-www?post=183081

    ibid.

    ReplyDelete
  10. wunsaconMarch 28, 2011 at 9:22 AM

    http://www.nakedcapitalism.com/2011/03/the-sandbagging-of-elizabeth-warren-and-49-state-attorneys-general.html

    http://market-ticker.org/akcs-www?singlepost=2485603

    ReplyDelete
  11. karenMarch 28, 2011 at 9:25 AM

    good morning! i wish i was more with it today..

    ReplyDelete
  12. AnonymousMarch 28, 2011 at 9:35 AM

    wunsa-

    I know you like her new Clairol #1321 dye-job/hair-do, but, really?, ya think she's, actually, doing anything constructive, or, is she being used as a 'Tool'?

    AAIP

    ReplyDelete
  13. AmenRaMarch 28, 2011 at 10:07 AM

    Definitely a battle for position in the markets. Bulls are struggling to keep the market up but it's not looking good.

    ReplyDelete
  14. AmenRaMarch 28, 2011 at 10:16 AM

    Holy crap! Buy programs just kicked into overdrive. Bastids.

    ReplyDelete
  15. AnonymousMarch 28, 2011 at 10:16 AM

    Jack Welch vs. Elizabeth Warren-

    http://www.cnbc.com/id/15840232/?video=1598062673&play=1

    Why does his family let him out of the house anymore?

    ReplyDelete
  16. AnonymousMarch 28, 2011 at 10:18 AM

    PS- The next video in the cue is straight up crazy town time with Jack.

    ReplyDelete
  17. AmenRaMarch 28, 2011 at 10:47 AM

    Trying to force a Momo Monday. Every dip being bought with reckless abandon. Esto no terminará bien.

    ReplyDelete
  18. karenMarch 28, 2011 at 10:52 AM

    this was quite clever... overlay charts of the (circa y2k) and silver, as well as some ratio charts..

    http://www.marketanthropology.com/2011/03/topspotting.html

    ReplyDelete
  19. AmenRaMarch 28, 2011 at 10:56 AM

    That's weird. Only zerohedge has the Dallas Fed release. I didn't see it on marketwatch, finance yahoo, bloomberg, reuters. I guess when it's really bad no one wants the trading public to know.

    ReplyDelete
  20. ben22March 28, 2011 at 11:53 AM

    AT,

    great charts as always

    all,

    since the site is apparently being shut off on friday, for those of you that have my e-mail feel free to keep in touch from time to time

    ReplyDelete
  21. I-ManMarch 28, 2011 at 12:01 PM

    Yeah same here.

    I-Man dont feel like participating in a blog where the author dangles "deletion" like a threat.

    Lame.

    ReplyDelete
  22. BinTMarch 28, 2011 at 12:18 PM

    I-Man:

    I am going trout fishing in a couple of weekends. I will try to post some pics to remind you of us hillbillies...

    ReplyDelete
  23. karenMarch 28, 2011 at 12:26 PM

    bruce, that's great.. i have your blog bookmarked..

    Andy, seconding Ben.. thanks for the charts! Finally got to them this morning.

    ReplyDelete
  24. karenMarch 28, 2011 at 12:34 PM

    LULU is having an 8% up day on no news.. of course, the 12.5% of float short position can't be having an impact..

    ReplyDelete
  25. AnonymousMarch 28, 2011 at 12:34 PM

    Been reading Ben, BinT, Leftback, AmenRa, all.

    Hope you find a place to meet again.

    Thanks also to CV.

    ReplyDelete
  26. karenMarch 28, 2011 at 12:41 PM

    just received a recorded message about renegotiating my home mtg including principal reduction under the government's mandate to help all distressed homeowners blah, blah, blah.. UFB..

    ReplyDelete
  27. karenMarch 28, 2011 at 12:46 PM

    The Japanese reactor news just gets worse http://www.forexlive.com/176236/all/the-japanese-reactor-news-just-gets-worse

    ReplyDelete
  28. karenMarch 28, 2011 at 1:01 PM

    http://finance.yahoo.com/news/Buffetts-firm-defends-apf-2169409035.html

    Book Cooking is alive and well.

    Warren Buffett's company offered a strong endorsement of five stocks it holds as part of discussions with regulators about how it should value Wells Fargo & Co., Kraft Foods, Sanofi Aventis, Swiss Re and US Bancorp.

    Berkshire ultimately agreed to record an impairment of the value of its holdings in drugmaker Sanofi Aventis, reinsurance firm Swiss Re and banking company US Bancorp at the end of 2010. But it didn't write down the values of Kraft and Wells Fargo.

    Berkshire officials told regulators on Jan. 11 that they remain confident all five stocks were trading at levels below their true value, and the market price will eventually reflect that.

    ReplyDelete
  29. karenMarch 28, 2011 at 1:20 PM

    Bespoke
    Breadth now at new bull market highs. http://bit.ly/hGheVZ

    ReplyDelete
  30. AmenRaMarch 28, 2011 at 1:29 PM

    Berkshire is full of BS.

    ReplyDelete
  31. karenMarch 28, 2011 at 1:31 PM

    JPMorgan's Chief US Equity Strategist Thomas Lee Says 1250 to Hold as S&P 500 Low for 2011 http://ow.ly/4nTDF

    ReplyDelete
  32. Uncle WarrenMarch 28, 2011 at 1:31 PM

    I like my books like I like my steaks - well done and with a cherry coke.

    ReplyDelete
  33. ben22March 28, 2011 at 1:33 PM

    Karen,

    as should be clear by the Bespoke chart
    cumulative a/d as a stand-alone is worthless in terms of peredictive value.

    for starters, the amount of issues on the exchanges even being traded are different than they were a year ago....

    ReplyDelete
  34. karenMarch 28, 2011 at 1:40 PM

    in contrast to the cumulative a/d, $nyupv:$nydnv isn't so hot..

    but thanks for your comments, ben. i've really don't see it being useful on that type of a chart..

    ReplyDelete
  35. karenMarch 28, 2011 at 1:46 PM

    put slv on a 30 min chart.. starting at friday's close to the apex.. and this morning's open to the apex.. yeah.. i gave it away.. another triangle.

    ReplyDelete
  36. karenMarch 28, 2011 at 1:59 PM

    slv breakout? seems like it.

    ReplyDelete
  37. AmenRaMarch 28, 2011 at 2:10 PM

    Karen

    Ask Blythe if she wants to see SLV breakout.

    ROR

    ReplyDelete
  38. karenMarch 28, 2011 at 2:20 PM

    this might be worth reading.. i'm trying to get thru it:

    http://pragcap.com/paul-krugman-the-conscience-of-a-neo-liberal

    ReplyDelete
  39. karenMarch 28, 2011 at 2:21 PM

    $JPM http://chart.ly/rugd5ad Rolling over nicely. GS BAC joining party. XLF weak.

    ReplyDelete
  40. karenMarch 28, 2011 at 2:22 PM

    Breaking News
    More than 40 people refuse to leave nuclear evacuation zone - Japan Times http://bit.ly/dNv8l8

    ReplyDelete
  41. AmenRaMarch 28, 2011 at 2:40 PM

    Karen

    That pragcap article has my head hurting :-)

    ReplyDelete
  42. AnonymousMarch 28, 2011 at 2:44 PM

    http://moslereconomics.com/mandatory-readings/soft-currency-economics/

    Along the lines of the Pragcap piece.

    ReplyDelete
  43. AmenRaMarch 28, 2011 at 3:02 PM

    Dammit. Buy programs gunning it again...

    ReplyDelete
  44. karenMarch 28, 2011 at 3:19 PM

    http://dealbook.nytimes.com/2011/03/28/for-sale-illiquid-assets-hard-to-value/

    ReplyDelete
  45. AmenRaMarch 28, 2011 at 3:19 PM

    Very uneventful for a Momo Monday. MoNo Monday?

    OT

    Almost didn't recognize David Rosenberg on Bloomberg.

    ReplyDelete
  46. AmenRaMarch 28, 2011 at 3:25 PM

    karen

    quote:
    The discounts are not necessarily a reflection of the asset quality, however, experts say. Sometimes, investors just do not have the estimated two to five years to wait it out for the asset value to recover.
    /quote

    ROR if you want to get out you're going to get screwed.

    ReplyDelete
  47. AmenRaMarch 28, 2011 at 3:28 PM

    Anyone know the details of the PM expiration from today? How many took cash? How many want delivery?

    ReplyDelete
  48. Andy TMarch 28, 2011 at 3:31 PM

    From ESPN article...on the Vegas Sports Books and VCU:

    "Colbert said his books made the Rams an 80-1 longshot when the final 16 teams were set -- the most improbable team to win a title -- and took some big-money bets at that price.

    "VCU is the one team that we don't want to win," he said. "Every other team is good for the house."
    ~~~~~~~~~~
    Guess we now know that VCU WON'T be winning the Title.

    ReplyDelete
  49. AmenRaMarch 28, 2011 at 3:36 PM

    Andy T

    What were the odds on VCU from the start of the tournament? How bad was the hit on Vegas?

    ReplyDelete
  50. karenMarch 28, 2011 at 3:36 PM

    AR, maybe this will help.. i'm just getting to it now:

    http://seekingalpha.com/article/260168-gold-and-silver-options-expiry-march-28-2011-expect-volatility

    ReplyDelete
  51. karenMarch 28, 2011 at 3:38 PM

    Just received an email from Tulving: We Have A Ton Of
    Silver & Gold For Sale In Stock, In Large Quantities

    ReplyDelete
  52. karenMarch 28, 2011 at 3:41 PM

    Mr Top Step says "you want to know how slow it is here? narrowest spx day since the feb chicago snow day (and prior to then back to december) so arguably smallest spx day

    ReplyDelete
  53. AmenRaMarch 28, 2011 at 3:50 PM

    karen

    I'm going to do some charts of GLD & SLV with dates to see how they act.

    ReplyDelete
  54. AmenRaMarch 28, 2011 at 3:51 PM

    Shhh!!! The weekly 3LB mid approaches...

    ReplyDelete
  55. AnonymousMarch 28, 2011 at 3:59 PM

    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....

    ReplyDelete
  56. RPHMarch 28, 2011 at 4:01 PM

    Agreed.

    ReplyDelete
  57. AmenRaMarch 28, 2011 at 4:02 PM

    Anon

    All we have to do is give Andy & myself full admin rights. We could then continue here with no problems.

    ReplyDelete
  58. 72batMarch 28, 2011 at 4:03 PM

    anonymous -
    to whom do you refer?
    we know who we are, but as the caterpillar said, "WHO are YOU?

    ReplyDelete
  59. AmenRaMarch 28, 2011 at 4:04 PM

    VIX jumped a full percent in the final 15 minutes.

    ReplyDelete
  60. karenMarch 28, 2011 at 4:10 PM

    Bespoke
    $LULU rallies 8%, breaks to new all-time high, then announces 2 for 1 stock split after the close.

    ReplyDelete
  61. karenMarch 28, 2011 at 4:13 PM

    I'll do whatever.. but at least we have AR's site as a backup plan.

    ReplyDelete
  62. karenMarch 28, 2011 at 4:15 PM

    back this evening.. gotta run! thanks, AR..

    ReplyDelete
  63. wunsaconMarch 29, 2011 at 12:02 AM

    AAIP/anon @ 9:35 AM

    I LOVE Elizabeth Warren but believe Obama Volckered her, almost immediately, by not nominating her to a real post. Does that make her a "tool"? Yeah, from one perspective. But, that's not her fault. I hope she keeps talking enough to stay in the limelight and to cause a commotion. What else can we do?

    Obummer is "no hope" and "no change".

    ReplyDelete