AmenRa's Corner

A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.

Creditcane™: I'm trying to work here but the market isn't making this easy.

SPX
Doji day (morning star?). Midpoint below EMA(10). Still above all SMA's (go figure). Tested and failed the 14.6% retrace (1319.09). Held SMA(55). No daily 3LB changes (reversal is 1332.87). QE2infinity. "JBTFD. Don't question it. Just do it. Trust me."



DXY
Spinning top day. Midpoint below EMA(10). Tested and held 0.0% retrace (74.70). Below all SMA's. No daily 3LB changes (reversal is 75.40).



VIX
Bullish short day. Midpoint below EMA(10). Still below all SMA's. No daily 3LB changes (reversal is 17.87). Still in the "no fear" zone.




GOLD
Bullish harami day. Midpoint above EMA(10). No test of 0.0% retrace. Still above all SMA's. No daily 3LB changes (reversal is 1452.50). Holding above upper trend line. Must have the precious.



AUDJPY
Bullish thrusting day. Midpoint above EMA(10). Currently above all SMA's. Held parallel trend line. No daily 3LB changes (reversal is 0.8650).



JNK
Bullish long day. Midpoint above EMA(10). Still above all SMA's. Still above its 50.0% retrace (40.42). Still below lower trend line. No daily 3LB changes (reversal is 40.21).



10YR YIELD
Bearish long day. No test of 0.0% retrace at 37.44. Now below SMA(55). Midpoint below EMA(10). Tested and failed 61.8% retrace (35.14). Held the upper trend line. Daily 3LB reversal down (reversal is 35.70).



WTI
Bullish thrusting day. Still above all SMA's. Midpoint below EMA(10). No test of 0.0% retrace. No dally 3LB changes (reversal is 112.79). Tested and held weekly 3LB reversal price (105.39).



SILVER
Bullish short day. 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 39.19).



BKX
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Still above its 38.2% retrace (51.48). No daily 3LB changes (reversal is 53.31).



AT's Silver "Glimpse"

LEFTBACK'S BOND REPORT

The Bond Report 4.13.11

Another odd day in the bond market. Fairly quiet except that 10y and 30y went bid on the back of an indifferent 10y auction before tomorrow's POMO of... the very same 10y. In corporates, HY was off the hook for some reason. In muniland the action in IQI continues to be horrendous on a day when everything else was performing decently.

Corpies: LQD 0.18%; AGG 0.11%; JNK 0.55%; HYG 0.48%
Govies: TLT 0.63%; IEI 0.11%; TIP 0.22%
Munis: IQI -1.01%; MUB 0.00%
Mortgages: MBB 0.11%
Specialty: ZROZ 0.73%; TBT -1.13%; EMB 0.10%

We are not terribly excited about US credit just now. We are 19% long. The breakdown is 7% JNK, 3% AGG, 6% TLT, 3% IEI. We are hedged to 15%, so net exposure is 4%.

In equities we are 26% long (all dividends) US, plus 5% long EWJ. Cash is king.