Sunday Evening Post: Survived Rapture Baby!

Hello All,

This commentary covers all five markets we've discussed in the past few weeks:  S&P, DXY, Gold, Copper and Silver.  I've identified key supports and resistance points on all these markets within this document, so I won't reiterate them here now.

Market Commentary 22May11


So, May 21st, Rapture Day, has come and gone and we're all still alive--which is awesome!

CNN has an article highlighting what the "faithful" are doing now as well as other "Doomsday Predictions" from the past.  It's pretty good:

And, with a hat tip to Wunsacon, here's George Carlin's take on Religion.  It seems relevant to this weekend's Rapture prediction.


AmenRa said...

WSJ: Spain Vote Threatens to Uncover Debt As Socialists Risk Losing Key Areas

MADRID (Dow Jones)--Weekend elections that threaten to drive Spain's ruling Socialist party from power in several regions and cities also promise a potentially nasty surprise: the revelation of piles of undisclosed debt in local governments that could undercut the country's drive to avoid an international bailout.

Five months ago, a government change in Spain's Catalonia region revealed a budget deficit more than twice as big as previously reported. Now, a growing chorus of economists, local politicians and business leaders say that new governments are likely to discover, as Catalonia did, piles of "hidden debt" owed to health clinics and other suppliers.

Economists, analysts and anecdotal reports from companies that supply local governments suggest there is widespread, unrecorded debt among once-free-spending local governments. Some companies are complaining that fiscally frail administrations are pressuring them to do business off the books and not immediately bill for goods and services, said Fernando Eguidazu, vice president of the Circulo de Empresarios business lobby group in Madrid.

Such bills could add tens of billions of euros to the official debt figures reported by local and regional governments. If such skeletons come out of the closet in coming weeks, Spain's cost of funding could continue to rise--throwing the country back into the limelight after it has struggled to demonstrate it doesn't need to be bailed out like Greece, Ireland and Portugal.

"Investors are worried about the regions, given that there has a been precedent in Spain and other countries of debt not being recorded properly," said Luigi Speranza, a BNP Paribas economist.

Andy T said...

"Hidden Debt."


Andy T said...

This was a pretty funny opening on SNL in re: DSK.

It's worth a watch...wait for the end....

qqqqtrader said...

Thx AT, seems many of the charts are inconclusive in their direction. Reason I pulled out of the market starting a couple weeks ago.

AR, This sort of goes along with what you posted.

Silly question. What's more important... lower oil prices... more jobs... housing starts/home sales? I guess if we get lower oil prices, the other 2 may improve?

Andy T said...

There are a lot things I like about English Premier Soccer...One of them is the fact that the lowest three teams get "relegated" to a secondary league while the best teams in that league get to move up to the big time

It's fantastic.

the could probably pull that off in the MLB or the NBA.

Andy T said...


Thanks for reading. I'm glad you got the "gist" of some of those markets....

Sidelines probably not a bad place to be right here.

cv said...

silver bitchez!

Andy T said...

U.S. Dollar bitchez!

Mel said...

40 acres and a mule bitchez!

Anonymous said...

Rain bitchez!

qqqqtrader said...

sure alot of bitch'n going on around here!

nikkei down and staying there.

wunsacon said...

>> nikkei down and staying there.

Down goes Frasier, er, Frazier!

AmenRa said...


Are the areas that are colored in the low points of the business cycles?

qqqqtrader said...

AR, it's business cycle peak to trough, recession timeline. I really should have used smaller lines because the last US recession ended in 06/09 and it looks like it went into the 3rd QTR... all of them overlap to much... oh well


click on The Business Cycle Chronologies

You can see Spain is still in a recession from 2/08

qqqqtrader said...

fixed it... somewhat

mcHAPPY said...


Thanks for the charts. Much appreciated as alwasy.


Post a Comment


This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.