Sunday, May 22, 2011

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.

Enjoy.
Market Commentary 22May11



Addendum:

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:  http://religion.blogs.cnn.com/2011/05/22/life-goes-on-doomsday-believers-on-the-morning-after/

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

at

16 comments:

  1. AmenRaMay 22, 2011 at 7:53 PM

    http://online.wsj.com/article/BT-CO-20110519-718885.html

    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.

    ReplyDelete
  2. Andy TMay 22, 2011 at 7:56 PM

    "Hidden Debt."

    Shocker...

    ReplyDelete
  3. Andy TMay 22, 2011 at 8:08 PM

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

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

    http://www.nbc.com/saturday-night-live/video/dominique-strauss-kahn-cold-open/1329159/

    ReplyDelete
  4. qqqqtraderMay 22, 2011 at 8:11 PM

    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?

    ReplyDelete
  5. Andy TMay 22, 2011 at 8:19 PM

    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.

    ReplyDelete
  6. Andy TMay 22, 2011 at 8:20 PM

    qqqq:

    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.

    ReplyDelete
  7. cvMay 22, 2011 at 9:29 PM

    silver bitchez!

    ReplyDelete
  8. Andy TMay 22, 2011 at 9:50 PM

    U.S. Dollar bitchez!

    ReplyDelete
  9. MelMay 22, 2011 at 10:04 PM

    40 acres and a mule bitchez!

    ReplyDelete
  10. AnonymousMay 22, 2011 at 10:14 PM

    Rain bitchez!

    ReplyDelete
  11. qqqqtraderMay 22, 2011 at 10:30 PM

    sure alot of bitch'n going on around here!

    nikkei down and staying there.

    ReplyDelete
  12. wunsaconMay 22, 2011 at 11:04 PM

    >> nikkei down and staying there.

    Down goes Frasier, er, Frazier!

    ReplyDelete
  13. AmenRaMay 23, 2011 at 12:15 AM

    qqqq

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

    ReplyDelete
  14. qqqqtraderMay 23, 2011 at 1:13 AM

    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

    ECRI

    click on The Business Cycle Chronologies

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

    ReplyDelete
  15. qqqqtraderMay 23, 2011 at 1:37 AM

    fixed it... somewhat

    ReplyDelete
  16. mcHAPPYMay 23, 2011 at 6:30 AM

    Andy,

    Thanks for the charts. Much appreciated as alwasy.

    mcHAPPY

    ReplyDelete