A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: I did a reenactment of Rick James on your couch (but it was on the market).
SPXBearish short day (didn't confirm inverted hammer). Midpoint below EMA(10). Still below all SMA's. Holding above trend line (3/6/09-7/1/10). Tested and failed the 50.0% minor retrace (1300.28). New low on daily 3LB (reversal is 1305.44). QE2infinity. Still below weekly & monthly 3LB mids.
DXYBearish short day. Midpoint below EMA(10). Holding its 0.0% retrace (73.51). Still below all SMA's. Failing its weekly 3LB mid. No daily 3LB changes (reversal is 75.75).
VIXHanging man day. Midpoint above EMA(10). Still above all SMA's. Tested and held its 61.8% retrace (23.05). New high on daily 3LB (reversal is 16.52). Another escape from the "no fear" zone.
GOLDSpinning top day. Midpoint above EMA(10). Tested and held its 0.0% retrace (1631.00). Still above all SMA's. New high on daily 3LB (reversal is 1604.60). Holding above upper trend line. Must have the precious.
EURCHFBearish long day again. Midpoint below EMA(10). Tested and failed its 0.0% retrace (1.1467). Failing all SMA's. New low on daily 3LB (reversal is 1.1718).
JNKBullish long day. Midpoint below EMA(10). Tested and held SMA(21). Held 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).
10YR YIELDBearish LONG day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (28.55). Still below the upper trend line. New low on daily 3LB (reversal is 31.58).
WTIBearish long day. Tested and failed SMA(233). Midpoint below EMA(10). Tested and failed its 61.8% minor retrace (95.94). Dally 3LB reversal down (reversal is 99.87).
SILVERSpinning top day. Still above all SMA's. Midpoint above EMA(10). Still above the upper trend line. Failing its 38.2% retrace (40.69). No daily 3LB changes (reversal is 39.08).
BKXSpinning top day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 61.8% minor retrace (46.19). No daily 3LB changes (reversal is 48.32).
HYG/LQDDoji day (with a huge gap lower). Failing all SMA's. Midpoint below EMA(10). Failing its 38.2% retrace (0.8201). Tested and failed its 50.0% minor retrace (0.8106). New low on daily 3LB (reversal is 0.8321).
USDJPYBearish long day. Midpoint below EMA(10). Below all SMA's. Tested and failed its 61.8% minor retrace (77.497). New low on daily 3LB (reversal is 78.24). *Lower major retrace levels made using range of the other major retrace.
IT HAS BEGUN. BE WARNED.
aka President, Senate, House, Lobbyist
5 comments:
CV,
previous
I don't know Bove's record, but I don't think it's been very good the last few years, I'm pretty sure he was really bullish banks until late in 08, I also know that earlier this year a lot of big firms stopped paying him for his services.
Maybe he'll bounce back, but he's a "blah blah blah forward p/e guy" so I generally ignore him, just catch them always busting on him at Dealbreaker.
CV,
and stop being so sensitive nancy
nobody was berating you, I don't give a flying eff if Bove was 1 for 1 trillion, I'm still going to tell you to STFU if you misrepresent his one correct call
that doesn't make it ok just because he's usually wrong and nobody needs to get even close to 60% of their calls right in markets to make an extremely large sum of money over time.
and also, to be clear, when I said I was agreeing with you, it was not in the sense that QE3 is a foregone conclusion to raise stocks, simply that QE3 was going to happen and you could argue it already is
the P in POMO stands for Permanent, so not really a hard call
and before anyone gets all bent out of shape
I'm not hating on CV, he's my boy
it's just how we get at each other, it's all good though
raising a frou frou to the CV
some clerk at CVS told me that they passed the bill... LOL
Oh, and hey guys, watch your blood pressure, I checked mine for free today at CVS and it's fine :)
At my office, there is quite a bit of concern that the Washington clowns won't pass a deal.
I get the impression from some of the brokers with whom I speak that the "deadlock" is more of a joke to them (albeit, it might just be feigned bravado).
Amusingly, given all of the speculation about the effect of a default or a downgrade after a [too small] deal, liquidity in fixed income land is still running plenty strongly, given the season.
There are a probably a lot of things working here, but I suspect that the weight fixed income professionals' opinions leans toward the snakes in Washington slithering into some kind of deal, on queue. If that doesn't happen, maybe there will be chaos, as it will be such a surprise.
Post a Comment