AmenRa's Corner

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

Creditcane™: I stretch in the morning trade to warm up for the afternoon run.

Bearish short day. Midpoint above EMA(10). Still above all SMA's. Holding above trend line (3/6/09-7/1/10). Holding the 38.2% minor retrace (1314.25). No daily 3LB changes (reversal is 1353.22). QE2infinity.

Bearish long day. Midpoint below EMA(10). Tested and failed its 0.0% retrace (73.51). Still below all SMA's. Failing its weekly 3LB mid. New low on daily 3LB (reversal is 75.75). Correlation armageddon.

Bullish short day. Midpoint above EMA(10). Still above all SMA's. Holding its 61.8% minor retrace (18.56). Tested and failed its 38.2% retrace (20.28). No daily 3LB changes (reversal is 21.32). Another escape from the "no fear" zone.

Bullish short day (tail too short for hanging man). Midpoint above EMA(10). Tested and held its 0.0% retrace (1607.90). Still above all SMA's. New high on daily 3LB (reversal is 1590.10). Holding above upper trend line. Must have the precious.

Bullish long day. Midpoint above EMA(10). Still above all SMA's. Tested and held its 38.2% minor retrace (1.44.74). New high on daily 3LB (reversal is 1.3996). Go figure.

Spinning top day. Midpoint above EMA(10). Holding above all SMA's. Holding its 61.8% retrace (40.20). No test of 38.2% minor retrace (40.45). Failing trend line (2/5/10-2/12/10). No daily 3LB changes (reversal is 39.86).

Bearish long day. Tested and failed SMA(21). Midpoint above EMA(10). Tested and failed its 38.2% minor retrace (29.56). Still below the upper trend line. No daily 3LB changes (reversal is 31.97).

Spinning top day. Tested and held SMA(55). Midpoint above EMA(10). Still holding its 38.2% minor retrace (97.98). No dally 3LB changes (reversal is 97.25).

Bullish short day. Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Tested and held its 38.2% retrace (40.69). New high on daily 3LB (reversal is 39.08).

Spinning top day (still confirming hanging man). Midpoint above EMA(10). Tested and failed SMA(21). Tested and held its 38.2% minor retrace (47.20). No daily 3LB changes (reversal is 48.32).

Bearish short day. Tested and failed SMA(21) & SMA(55). Midpoint above EMA(10). Tested and held its 38.2% retrace (0.8201). No daily 3LB changes (reversal is 0.8329).

Bearish long day. Tested and failed SMA(21) but held SMA(55). Midpoint bellow EMA(10). Tested and failed its 38.2% retrace (5378.29). No daily 3LB changes (reversal is 5283.92).

Bearish long day. Midpoint below EMA(10). Below all SMA's. Tested and failed its 38.2% minor retrace (78.07). New low on daily 3LB (reversal is 78.43). *Lower major retrace levels made using range of the other major retrace. "Soshite sore wa itte shimatta..."



Andy T said...

So, Soros hanging it up and is in 75% Cash...

That's one of the best traders of all time...

Pretty interesting. Probably worthwhile to mark this date down....will be worthy of a 'look back.'

Anonymous said...


What about the Ravens, seemingly, letting dudes go--Left, Right, and Center?



i hear ya, about HOG..

speaking of Trades..

I'm *wonderin' how much C*ck is going to get off from CTL..


w/ GOOG's potential Take-out of IDCC..

I think T & VZ , faves of 'Yield-Hogs', are fixin' to ge Slaughtered..

AmenRa said...

Andy T

Not so much hanging it up but giving the finger to the Dodd-Frank bill.

AmenRa said...’s-scare-tactics-to-get-democrats-to-vote-for-his-republican-wall-street-plan.html
Michael Hudson: Mr. Obama’s Scare Tactics to Get Democrats to Vote for His Republican Wall Street Plan

By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City and a research associate at the Levy Economics Institute of Bard College

You know that the debt kerfuffle is as staged as melodramatically as a World Wrestling Federation exhibition when Mr. Obama makes the blatantly empty threat that if Congress does not “tackle the tough challenges of entitlement and tax reform,” there won’t be money to pay Social Security checks next month. In his debt speech last night (July 25), he threatened that if “we default, we would not have enough money to pay all of our bills – bills that include monthly Social Security checks, veterans’ benefits, and the government contracts we’ve signed with thousands of businesses.”

This is not remotely true. But it has become the scare theme for over a week now, ever since the President used almost the same words in his interview with CBS Evening News anchor Scott Pelley.

Of course the government will have enough money to pay the monthly Social Security checks. The Social Security administration has its own savings – in Treasury bills. I realize that lawyers (such as Mr. Obama and indeed most American presidents) rarely understand economics. But this is a legal issue. Mr. Obama certainly must know that Social Security is solvent, with liquid securities to pay for many decades to come. Yet Mr. Obama has put Social Security at the very top of his hit list!

Andy T said...

Guess this is a 'different' take on the Soros thing:

This sort of makes sense and is "intuitive" to the minority...if you try to take money from rich people via taxation and regulation, rich people figure out ways to avoid it or minimize their exposure.

That's why the "soak the rich" mantra doesn't really work in the real world.

Andy T said...


That's why markets are sort of shrugging this "melodrama" off....

Anonymous said...

" get off from CTL.."

get Cut off from..


ben22 said...


I don't think Soros is getting out, but he is out from under the SEC now

and I don't blame him at all, if one billion of your 26 billion going away means you avoid the SEC that's a no-brainer imo.

Don't forget it's the Evil Kochs and guys like George Soros that caused the crisis, hedge funds are evil.

ben22 said...

my favorite part of that Obama interview where he claimed social security recips may not get paid was when he used the line

"there may not be enough money in the coffers"

really, think about that, it's hilarious, as is the entire "crisis" that is the debt ceiling

Matthew said...

I am also quite amused by the "crisis."

First, there is all of this posturing like those weasels in Washington aren't going to ride up on their faux white horses and "save" the day at the last minute. Puuuuulease! Those guys are very brazen about pandering and saving themselves. Even Obama has become transparent enough on the issue of the debt ceiling and demanded that the next round of debt talks be pushed out past his reelection date (read: "We can have another 'crisis,' but just not until after Americans are corralled into looking at me for another four years).

Then there is all of this hullabaloo about what pension funds [and other regulated investors] will have to do if the U.S. government is downgraded. Here's a simple answer: change their investment policies. The composition of their holdings is very unlikely to be seriously impacted.

There is a good reason that bonds have almost completely ignored the circus. It's all an exercise in misdirection. If there is one thing with which Washington can feel very comfortable, it is that they have managed another distraction from the real issue of government accretion that has resulted in an acute erosion of freedom and opportunity for Americans outside of the power circle.

Matthew said...

PS: I suspect that U.S. Treasury securities will "counter-intuitively" sell off when a 'debt deal' is reached (or whenever the Street gets its usual advanced notice of the deal). The force is tremendously weighted toward players who are overweight tsys and wwant to lighten up very shortly.

Andy T said...


Dude. I think you're my twin brother.

Spot on....

Andy T said...

I liked the BP link to the NY Times interactive today.

Pretty interesting to see "how many households are just like you"

My wife and two kids ....there are 8mm+ like me, or 7.25% of the households.

I feel so ordinary...i even have a dog and an ungrateful cat.

Now, if you have 9 kids under the age of 18...then you're in a rare air....only 3,000 of those households.

Even that number made me go: "What the fuck?!"

There are 3,000+ households in the U.S. with 9 kids UNDER the age of 18 ....

Andy T said...

Actually, I recommend messing around with that graphic...amazing how much 'rarer' that 3rd kid is for married couples....

Also, 12% of households are a single guy. 15% of households are a single women.... Doesn't seem like much, but that means there are 25% more single women households than single men. I don't think i would have guessed that one....

Andy T said...

Another tidbit...."male/unmarried" partners and "female/unmarried" partners make up 0.40% of the households...

Would not have guessed that judging by the ABC Prime Time lineup.... that number would have seemed closer to 1 in 3 or 1 in 4.

Oh Well....fooled again!

Anonymous said...

“The Federal Reserve (privately owned banks) is one of the most corrupt institutions the world has ever seen.” -- Senator Louis T. McFadden (Chairman of the U.S. Banking and Currency Commission)

“If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn’t have, as banks can and do….Only commercial banks and trust companies can lend money which they manufacture by lending it.” -- Professor Irving Fisher, Yale University, in his book, 100% Money

“The people can and will be furnished with a currency as safe as their own Government. Money will cease to be master and become the servant of humanity. Democracy will rise superior to money power.” -- Abraham Lincoln

“Permit me to issue and control the money of a nation, and I care not who makes it’s laws…” -- Mayer Amschel Rothschild

“All the perplexities, confusion, and distress in America arise, not from the defects in the Constitution or confederation, not from want of honour or virtue, so much as from downright ignorance of the nature of coin, credit and circulation.” -- President John Adams

“The only honest dollar is the dollar of stable, debt paying purchasing power. The only honest dollar is the dollar which repays the creditor the value he lent and no more, and requires the debtor to pay the value borrowed and no more.” -- Senator Robert L. Owens

Anonymous said...

“Whoever controls the volume of money in any country is absolute master of all industry and commerce.” -- President James Garfield

“If Congress has the right under the Constitution to issue paper money, it was given to be used by themselves, not to be delegated to individuals or corporations.” -- President Andrew Jackson

“My agency, in promoting the passage of the National Bank Act, was the greatest financial mistake of my life. It has built up a monopoly which affects every interest in the country. It should be repealed; but before that can be accomplished, the people will be arrayed on one side and the banks on the other, in a contest such as we have never seen before in this country.” -- Salmon P. Chase

“Under the Federal Reserve Act, panics are scientifically created; the present panic is the first scientifically created one, worked out just as we figure a mathematical problem.” -- Hon. Charles Lindbergh, Sr. writing on the panic of 1920

“The youth who can solve the money question will do more for the world than all the professional soldiers of history.” -- Henry Ford Sr.

“If all bank loans were paid, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent monetary system. When one gets a complete grasp upon the picture, the tragedy and absurdity of our hopeless position is almost incredible – but here it is. It (the banking system) is the most important object intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it is widely understood and the defects remedied very soon.” -- Robert Hemphill, for 8 years credit manager of the Federal Reserve Bank of Atlanta

there are more..


ben22 said...

I'm a big fan of Steinhardt, last time he was on he made his thoughts on grampa Buffett quite clear

good stuff starts around 3:50 or so, money shot about 7:20.

AmenRa said...


"Up to our knees in midgets."

Matthew said...

@Andy T:

Did you check out the time series chart of the various types of families? Single people make up a significantly higher proportion of the population than any time in the past.

The media has typically attributed this to the independence of women. I would also add that the shitty prospects for young people has an impact.

A young man or woman coming out of college (and not being much better for having completed a university curriculum) has a lot more debt--relative to income--than ever before and dismal prospects for income growth. It may sound cold, but I suspect that, at least on the margin, people on solid financial ground are selective of partners in the context of their financial baggage.

AmenRa said...
House Panel Plans to Question Rating Agencies Over Downgrade Threat to U.S.

You knew this was going to happen sonner or later.

AmenRa said...


AmenRa said...

Net Notional % change in CDS:

Guess who is leading the pack?

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