A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: I am the abyss. Why don't you come and have a look?
SPXBullish short day (confirmed morning star by .05 - not good). Midpoint below EMA(10). Still above all SMA's. Tested and held the 23.6% retrace (1303.70). Held SMA(55). No daily 3LB changes (reversal is 1332.87). QE2infinity. "JBTFD. Don't question it. Just do it. Trust me."
DXYBearish short day. Midpoint below EMA(10). Made a new 0.0% retrace (74.62). Below all SMA's. New low on daily 3LB (reversal is 75.07).
VIXBearish long day. Midpoint below EMA(10). Still below all SMA's. New low on daily 3LB (reversal is 17.87). Still in the "no fear" zone.
GOLDBullish long day (confirmed bullish harami - finally). Midpoint above EMA(10). No test of 0.0% retrace. Still above all SMA's. New high on daily 3LB (reversal is 1458.50). Holding above upper trend line. Must have the precious.
EURUSDBullish short day. Midpoint above EMA(10). Still above 1.4346 (the 76.4% retrace). Above all SMA's. New high on daily 3LB (reversal is 1.4314).
JNKBearish long day. Midpoint above EMA(10). Now below SMA(55). Back below its 76.4% retrace (40.50). Still below lower trend line. No daily 3LB changes (reversal is 40.21).
10YR YIELDBullish thrusting day. No test of 0.0% retrace at 37.44. Back above SMA(55). Midpoint below EMA(10). Tested and held 50.0% retrace (34.42). Held the upper trend line. No daily 3LB changes (reversal is 35.70).
WTIBullish short day (c/b hanging man but we're not in an uptrend). Still above all SMA's. Midpoint below EMA(10). No test of 0.0% retrace. No dally 3LB changes (reversal is 112.79).
SILVERBullish long day. Still above all SMA's. Midpoint above EMA(10). Made a new 0.0% retrace. Holding upper trend line. New high on daily 3LB (reversal is 39.39).
TLTSpinning top day. Midpoint above EMA(10). Still above SMA(55). Tested and held the 14.6% retrace (91.24). No daily 3LB changes (reversal is 89.68).
XRTSpinning top day. Midpoint above EMA(10). Above all SMA's. Failed its 23.6% retrace (51.77). No daily 3LB changes (reversal is 51.13).
24 comments:
LB
That article is hogwash. His gardener trading commodities? C'mon man. He refuses to acknowledge that the main reason for the rise in gold is loss of faith in fiat.
@LB
From the last link you put up in the former thread... You asked me to "rip his head off"...
No need to... He seemed perfectly capable of ripping his own head off...
I could point to many things... But his "bio" at the end pretty much summed it up for me...
At time of publication, Willard author of Revolution Investing and Trading With Cody was net long DBA
DBA??? RUFKMe???? (an agricultural "ETF"???)...
Sounds like he gets his investment ideas from the E-Trade babies...
Tool...
FWIW...
If you WANT TO ACTUALLY RIP YOUR OWN HEAD OFF... here's how it's done...
http://bitsandpieces1.blogspot.com/2007/10/how-to-rip-your-own-head-off.html
@Amen
The part about his "gardener" made me laugh too...
yeah... the old TAXI DRIVERS, BARTENDERS & CHINESE PIG FARMERS argument...
No more buyers???
Um... How about CENTRAL BANKS printing their "chosen one" confetti to purchase the physical just in case TSHTF???
Google, google, gone.
@Amen
But by the time anyone BELIEVES anything I said there at (6:41)... Because the "evidence" of it doesn't show up in any charts...
It'll be out of reach for the small person (gardeners, bartenders, & pig farmers included) to acquire in any sort of volume...
If I sat down and ARGUED with that guy... Then, his NEXT argument would be...
"Well it doesn't matter"... "Even if you buy it, then the government is just going to confiscate it from you..."
I get tired of these arguments (and "seem" to have SHOO-ed away many of the comment contributers on this blog - who prefer to skulk away in ANONYMITY than acknowledge that I might have had a point from the beginning)...
I think, at this point, it would be a good idea to see if we could trade NAMES with Thor's blog... (because - like an abandoned Silver Lode mine - it's become sort of a ghost town)... THIS blog should be called ANONYMOUS TRADERS... Hell - you could drop the 'traders' part for that matter...
Not important... I'm just going to go on calling it as I see it... I know you & Andy will too...
Anyway... The blogosphere is full of "GEMS" (like DeDude), if anyone wants HARD HITTING analysis on anything... lol
And to top it off... I'll go my SILVER post (from the other thread) one further...
"Jesus H. Tapdancing Christ on a Hot Plate!"
$42.10...
http://www.zerohedge.com/article/goodbye-42
Must be more "gardeners" in the world than anybody expected!
@Andy
I'm sure you know that now it would take a 50% correction (to ZERO) to get silver back to $21...
I find that very interesting when you look at the MATH on the $SPX...
(Go ahead and look at 1332 vs. 666 'technically' over some years to see what I mean)...
@Amen
I guess it's $74.22 (or is it $74.18, or something else - I forget), for almighty dollar...?
We believe in a strong dollar policy...
And maybe afta DAT... We have the curried lamb...
74.17 but what's a penny.
@Amen
Oughtta be good for at least an impressive CANDLE day when it gets there...
The Bernank probably has that number "red circled" on his calendar (along side the calendar that says how many open market days there are between then and the end of QE2)...
I'd have said Geither (in that reference), but I'm not sure what it would mean... He might still be grappling with what the red circle on APRIL 15 means for all we know...
Geithner still has nightmares about that day...
@Amen
Oh... & BTW... On GOOG... IMO...
JBTFD
I'll explain tomorrow (with a magic chart)...
Gold tagged 1480.
@Amen
Maybe I'll even put it up tonight...
I still have several unopened beers left...
---
I'm 'rounding' here (& TRULY just going on 'eyeballing' it)...
But what does... 1278 (SPX) do for you (in any technical way)?...
Reason I say, is that I hear RUMORS of a lot of 'short side' acceleration might occur under 1300...
My guess?
HEADFAKE...
I got a 1278 target somewhere in my pocket (with all the frogs, marbles, jacks, baseball cards, and silly putty)...
Go back to 1332 vs. 666...
"See the ball - BE the ball - Timmy...Danny...
http://www.youtube.com/watch?v=Mo0baknLDdU
"This isn't RUSSIA... Is it?"...
"I own 2 lumber yards... I'm not sure where they are"...
Danny! You're not BEING THE ball"... "NaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNaNa"...
http://www.youtube.com/watch?v=4xNFPaPor8A&feature=related
Sincerely,
Mitch Kumstein
1279.20 is the low from the weekly 3LB reversal down. Closing below that would be the weekly confirmation.
Revenge of the WTI vs. Brent WTI today....sort of predictable given that fact Gartman was on CNBC yday telling everyone that that spread would keep going up till it didn't.
Not sure we're at "the top" of the Brent/TI debacle, but it's getting a lot of attention in the Press now.
Any message that ends with a Caddyshack clip is always good.
@Amen (9:03)
Thanks for that view...
You know??? That's what I really like...
When a MITCH KUMSTEIN/TY WEBB view (such as my own)... comes very close to a mathematical fractal)...
WEEKLY (you say)... Even better!... You know... for the FEAR MONGERS in all of us...
@Andy
On the WTI... I'm going to offer the Mitch Kumstein argument that regardless of the WTI/Brent spread... It's STILL all a BUCKY issue...
I'll say NOW that after a test of 74.17 on bucky (& probable bounce)... We'll get the generic test of 72, then 70...
This is like I said a few weeks ago (when EUR/USD took out 1.43 - and I asked, [unacknowledged by the recent vacaters here] - if it wasn't going to 1.50 next)...
LB actually provided the most COHERENT reply to that (in today's thread)... Thank you LB... that from here on forward... It's TAG TEAM to the bottom on fiat... USD - EURO - JPY (or, nominate the fiat of your choice)...
At this point, I'm wondering if I'll have to make "a call" like I did last year on BUCKY crossing the event horizon on May 3rd (last year it was May 4th [which aligns with the TUESDAY AFTER the May 1st LABOR DAY holiday in Europe])...
Not that THAT day will be the "bucky low" day... But it is a high candidate for a CROSSOVER day... As last year it was @1.29 on its way to 1.18...
But the west coast of the USA is distant from Europe, so I'd naturally expect a bit of INCREDULITY to my whims (even IF they were SEEDED by the likes of Hugh Hendry)...
In any case... If I were ME (which I'm NOT - because I'm Mitch Kumstein)... I'd be BASING a lot of assumptions on that notion... (Such as... the price of WTI... gold... silver... SPX... and crap like that...
IMHO... The dance between EURO 1.50 and DXY (at whatever these Wil E Coyote levels seem to be, 74, 72, 20)... Seems to be front and center ATM...
Sincerely,
Mitch Kumstein
Mish highlighted some interesting stuff on the State of Illinois:
http://globaleconomicanalysis.blogspot.com/2011/04/25000-out-of-70000-illinois-state.html
"The cost of doing business in Illinois is staggering. Such is the nature of a bottom-feeding government and union-driven model that adds inefficiencies everywhere you look and also in places you don't.
For example, over 35% of Illinois state employees are on workers' comp. That statistic would be bad enough in isolation, but Illinois also has the highest costs in the nation, by far."
The information seems to be sourced from this article:
http://www.pjstar.com/opinions/ourview/x1302185110/Our-View-Workers-comp-reform-is-too-important-to-state-business-climate-not-to-address-soon
I'm not sure who this Marc Colins is or what his firm is all about, but if those numbers are anywhere close to the truth, it explains why Illinois such a fucked up State.
hmmm, 1332, 1278, 666, nice round numbers there...
what has happened to this blog?
*Be* the barrel, CV.
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