30 Yr Bond (weekly info)-no change (above mid)
trend=no
direction=down (1 bar)
low= 122.688
rev= 126.594; mid= 124.641
30 yr bond still trying to recover from the massive selloff at the end of June. Currently it's trying to hold its 50.0% minor retrace (125.743). It's above all SMA's and the weekly 3LB mid. A break below 124.495 may send it down to 120.455 pretty quickly.
FedEx (weekly info)-no change (above mid)
trend=no
direction=up (2 bars)
high= 97.56
rev= 85.40; mid= 91.44
Well if FedEx is supposed to be a proxy for the economy then there appears to be problems ahead. It's now below its weekly 3LB mid and SMA(21). It also is testing its 61.8% minor retrace (90.49).
The bulls hired new security at the NYSE to keep the bears in check...
@Andy (other thread)
ReplyDelete...then hits 7-7-7 Slot Machine at age 45 in some random British OPEN....will that really be a "win" for Tiger Woods. Will he be celebrated for crawling to Jack's record?
---
Yeah - I'd give him a lot of kudos... Tiger is/was a fantastic golfer & it's a fantastic record (one that NOBOdY ever thought would be broken until Tiger came along)...
Jack had the luxury of not having to crawl to his own record... He was in outer space by the time it all wound down...
I'll go a step further an say that golf needs Tiger back right now... It's been nice to see these new faces (& even old ones, like darren Clarke), guys people like too...
but 12 different winners in the last 12 majors doesn't help the sport...
You need the Yankees & Cowboys... (whether you like them or hate them)...
now this sucks...
ReplyDeletehttp://sports.yahoo.com/nfl/blog/shutdown_corner/post/NFL-games-are-about-to-get-longer-and-more-repla?urn=nfl-wp3507
better get your NFL Red Zone subscription...
Also... When games are longer it 'blows' for betting... You want the 1PM games 'in the books' before a 4PM or 4:15PM game kicks off...
Good news is that it stretches the afternoon games further into the Sunday Night Football timeslot...
So then you can avoid having to listen to self-righteous Keynesian jackass marxists like Bob Costas or Keith Olberman...
don't miss Faith Hill tho!
Here we go...
ReplyDeletehttp://news.yahoo.com/bachmann-criticizes-black-farmer-settlement-225727223.html
In 2008... Obama had the media to help him convince a bunch of dimwits that he was "the man"...
That he was "smart", "articulate", & all that crap...
I predicted that when he finally got exposed, the next romp around the parade ground would basically devolve into a "race" race...
It's not even Obama's fault (well - it IS for basically being an empty suit - but I don't consider him a racist)... Instead - it's the media's fault... They're so ignorant & in denial as to his shortcomings & failures, that to WIN - AGAIN, they're going to have to increasingly fall back on the race card to push their agenda...
@Amen
ReplyDeleteWell if FedEx is supposed to be a proxy for the economy then there appears to be problems ahead
... as soon as they get their "helicopter delivery" service up & running, business will improve... I hear they have a large customer lined up.
http://www.zerohedge.com/article/greek-bonds-collapse-ecbs-nowotny-announces-bank-will-compromise-agree-temporary-greek-defau
ReplyDeleteGreek Bonds Collapse As ECB's Nowotny Announces Bank Will Compromise, Agree To "Temporary" Greek Default
and
http://www.bloomberg.com/news/2011-07-19/ecb-might-compromise-on-defaulted-greek-bonds-as-collateral-nowotny-says.html
Nowotny Signals ECB May Bend on Greece
SPX held 1295 but it appears it's really trying to hold 1312.01 which is the 50% retrace of the 6/27/11-7/7/11 move higher. The last three have closed below, above, below and today looks like above again. That means today is also the fourth day of testing that level. The fifth and/or eighth day of testing should determine where we are headed.
ReplyDeletewhats up crew, been out of town a few days
ReplyDeletehope everyone is good
Dollar down and gold holding steady. Guess that move didn't work. What's next CB's?
ReplyDeleteYo Ben...
ReplyDeleteWell...
What's up is the S&P500 which bottomed into a perfect support point at 1295....
cv:
ReplyDeleteIn re: El Tigre. He's a terrific talent and i give him kudos for being mentally tough enough to win those big tourneys.
But, Barry Bonds and Roger Clemens were big talents too. I'm not convinced Tiger wasn't a doper/HGH user. He got really big and strong in a relatively short period of time...and now his body is breaking down a bit. I suspect he was juicing a bit ...
AT,
ReplyDeletehow's it going man....check your e-mail, sent you something this morning you might have some interest in down in your area
as for the S&P....I didn't watch the market much while I was gone but I still like the expanding triangle outcome as a high probability, mentally tried to prepare for it all to take way longer than it *should....and that seems to be the way it is going
cv, re: here we go...
ReplyDeleteRep. Sheila Jackson Lee (D-Texas)... Read between the lines
Someone just busted up the Murdoch/Parliament meeting....
ReplyDeletethose crazy brits.
murdoch's wife was going to open up a can of whoop ass ....
ReplyDelete@q's
ReplyDeleteI haven't even clicked on the link yet, but before I do, I wish to inform you that you're a racist...
cv, LOL, I'm just an average white boy that grew up with the likes of AWB, on soul train
ReplyDeletethe death of the whistleblower IS NOT suspicious
ReplyDeleteat least that's what I heard
perfectly natural.....
@qqqq
ReplyDeleteWhat? No 'Jimmy Castor Band'?
http://www.youtube.com/watch?v=Ki8u8G2WZbI
OK...
ReplyDeleteI'm going to say something REALLY stupid right now...
Long BAC bitchez!
5.18pm: Q: Jude Law is alleging that his phone was hacked on American soil. Are you confident that no employee of yours hacked the phones of relatives of 9/11 victims.
ReplyDeleteRM says: "We have no evidence of that at all."
(I f*cking hope not...only Xe Services knows for sure. Am I allowed to make a phone call?) LOL
Now I'll say something "not so" stupid (to ME only - the rest of you WILL think this is stupid)...
ReplyDelete"Nickles bitchez"!
@mel
ReplyDelete5.18pm: Q: Jude Law is alleging that his phone was hacked on American soil
"Action Jackson" (Holder) to the rescue in 5...4...3...2...
CV
ReplyDeleteNow you've got me longing for John Mitchell and Spiro Agnew...at least you knew where they stood;-)
CV, I know your long nickels but why long BAC?
ReplyDeletegut feeling?
technical?
fundamentals?
EW?
you just deposited your nickels into a BAC account?
Sheila Jackson LEE....one of Houston's finest.
ReplyDeletei'm bullish BAC mostly because Michelle Lee talked about what a 'no brainer' it was to just short BAC every day...
ReplyDeleteShe said it was a "trader's dream."
yeah...
ok.
that should jinx it i think.
AT, I asked because yesterday I looked at going long BAC, it may bounce up to 10.55 area, or better yet, possibly back up to near 12.40. And yeh, it can't go down forever.
ReplyDelete@Mel
ReplyDeletehahahaha! Spiro Agnew... Maryland's FINEST! ror
I was about to ask who opened the can of whup azz on gold. Then I read about the compromise for the debt ceiling. Switching over to Chained-CPI to reduce obligations. So basically an accounting trick. Your Congress at work.
ReplyDelete@q's
ReplyDeleteBAC????
Gut...
It'll bounce back and AT LEAST re-test $11 bucks... I mean, that's almost 20%...
I'm not 'paper trading' these days, but 20% in a short window doesn't seem too bad...
@q's
ReplyDelete& Andy's comment on Michelle Lee should be even MORE reason...
Michelle Lee... I wouldn't kick her out of bed for eating crackers... (unless she was eating 'saltines' whilst telling me to short BAC)...
@Amen
ReplyDeleteI was about to ask who opened the can of whup azz on gold.
Go ahead & try to reconcile that with dr. copper...
Blythe (medusa) has only so many snakes coming out of her head at any given moment...
@Amen
ReplyDeleteBottom line...
dr. copper looking rather healthy... & BKX having got the Pontius Pilate treatment lately...
I'd be VERY CAREFUL about being 'short' into, abouts LABOR dAY ways...
John Williams (shadowstats) is probably having conniption fits right about now. Chained-CPI pfffttt!
ReplyDeleteGold is having a profit taking day. Silver, OTOH, is having a bearish engulfing day which is also closing the gap.
ReplyDeleteCV
ReplyDeleteCopper is ignoring the other PM's.
The 2s30s Spread was flirting with 3.92 (the 38.2% minor retrace) before the carnage.
ReplyDelete@Amen
ReplyDeleteBreather bitchez...
Katie Couric doesn't kno about Cu... (like Charlie don't surf!)
http://www.youtube.com/watch?v=sOOE9JZj878
In a few days, the BKX will be flying (& Katies replacement - whatever libtard friend of Ritholtz that happens to be at the moment - I can't keep track)...
So - despite Au pushing to new highs, you'll be hearing about the spectacular run in banks [due to Obama's shrewd handling of the debt conflagration]...
If you go to other blogs... You'll be sure to catch the REAL play by play on how this will benefit us all...
Chained CPI for All Urban Consumers (C-CPI-U)This index applies to the same target population as the CPI-U. The same raw data are used, but a different formula is employed to calculate average prices. The chained CPI was developed to overcome a shortcoming of the CPI-U series, which does not account for the changes that people make in the composition of goods that they purchase over time, often in response to price changes. The alternative method of the C-CPI-U is intended to capture consumers' behavior as they respond to relative price changes.
ReplyDelete...from Wiki.
..If you shift from steak to catfood, (even if only in theory, SS goes down.
...But I suspect SS taxes won't..
BinT
ReplyDeleteHedonism. Or is that hedonic.