ATHENS (weekly info)new low 1264.92
trend=down
hlow= 1264.92
rev= 1370.10; mid= 1317.51
The Greece Stock Exchange does not look like there's a new bailout plan in place. The weekly candle is forming an inverted hammer so we'll need to see follow through. I wonder if the rumor about the troika (EU, ECB, IMF) report is true.
CSCO (weekly info)new low 16.50
trend=down
low= 16.50
rev= 17.37; mid= 16.94
It just isn't getting any better for CSCO. Last weeks "hammer" turned out to be from the toy store. The last thing they probably need is a bearish engulfing in a downtrend. But they're getting it.
bunch of trapped longs now in CAT from the hanging man on Tuesday
ReplyDeletebears need to stick around til' 4 today, make a statment.
"These are not the bearish charts you're looking for."
ReplyDelete@Andy T,
ReplyDeleteLooking more like the expanding T we just talked about.
@AR... Kudos!
ReplyDelete""I use a fibonacci retrace on the monthly 3LB range.
1310.62 (50% retrace)
1298.12 (61.8% retrace)""
we there!
lol, this is awesome... This Guy Has My MacBook
ReplyDeleteWas out late last night...
ReplyDeleteWhat a collapse by the Heat last night....talk about celebrating a "win" too early....
I want to see this thing go all seven games.
John Edwards Indicted.
ReplyDeleteHe used to talk about "two Americas"...
Maybe he'll become familiar now with the "third America"....the prison system.
I heard about the MacBook guy -- I think he is pretty nice in his discussion of the OPD -- he practically had to hand the criminals over to them before they would do anything.
ReplyDeleteUnemployment 5-15-27 weeks It may look a little better but unemployment is still killing this country.
ReplyDeleteBucky right at 74.
ReplyDeleteAwesome.
Andy T said...
ReplyDeleteBucky right at 74.
Awesome.
Awesome?
next stop 73.94?
LB suggests buying TBT calls. Auctions next week and governmental tomfoolery all summer. The next jobs number can hardly be this bad, and this week's numbers were bloody awful.
ReplyDeleteWe will probably see some JBDTDers come into the market next week. After a 7% move down, we think that a retracement of about 3-4% is likely in SPOOZ, and yes, that probably does involve some DGDF.
Adding to our Japan longs on down days, as usual. Bucky may have a tough week next week, but when he bounces it will be at the expense of JPY. An economic recovery from the earthquake is inevitable, so Japan may well lead the world in Q3.
Thanks for the insight LB
ReplyDeleteB/D 206k. Figures.
ReplyDeleteThe only reason the market hasn't crashed is that the dollar is getting crushed.
ReplyDeleteI put on a risk trade (punt) this afternoon, believe it or not, in the energy sector. I have the slightest suspicion that the safety trade might be temporarily winded and give anti-dollar assets a relief next week.
ReplyDeleteI hate to put these on too early on a Friday afternoon, having fallen victim to the asylum traders. But, it is too nice outside to monitor equities all afternoon
Slowly approaching the area that may cause traders to bail before the close...
ReplyDeleteLock the doors. Hide the wife and kids. It's about to get fugly.
ReplyDeleteTNX closed at 2.997% so with CPI at 3.2% the real 10yr is -0.203%
ReplyDeleteNo wonder Gross sold his treasuries.
qqqq
ReplyDelete1298 appears to be the line in the sand.
"No wonder Gross sold his treasuries"
ReplyDeleteI guess, but last time I looked PTTAX was some 35% + cash
negative 10 year real is still better than the bigger real negative yield you get on cash, but they own german bunds!
and also, projecting out like that is dangerous, it extrapolates the CPI trend but is that wise? maybe not the smartest thing with that little debt overhang problem, you could have made just as compelling arguement against bonds in early 08 what with all that inflation we had raging then.
Either way, don't cry for PIMCO, and the reason bill said that was because each day he thinks about buying govvies back in a recession, and so he looks at his bloomie terminal and sings (quietly of course, no noise on the PIMCO trading floor apparently)
Don't cry for me Treasury-ah
The truth is I never left you
All through my wild days
My mad existence
I kept my promise
Don't keep your distance
ben22
ReplyDeleteBWAHAHAHAHA
I can hear it already. "Well, the SPX held 1300 so that's bullish."
ReplyDeleteSPX failed its weekly and monthly 3LB mids.
ReplyDeleteWell, it's not often we see the DXY and the SPOOZ down heavily on the same day. That in itself was an oddity.
ReplyDeleteHere's what we did today. Sold TLT (3% down to 0%). Bought EWJ (up to about 16%). Bought QQQ (5%). Bought TBT (6%).
So it is now, divvys 28%. EWJ 16%. QQQ 5%.
JNK 5%/TBT 6%. Cash 40%.
LB
ReplyDeleteEWJ trading below its monthly 3LB reversal price (10.22). But it's early in the month.