EURCHF (weekly info)new low 1.1477
trend=down
low= 1.1477
rev= 1.2126; mid= 1.1802
Appears the EURCHF is trying to form a bullish harami for the week. Why? Risk is not off the table for the EU just yet. It's below all SMA's. It tested and held its 0.0% retrace (so far). The MACD is starting to move higher. The Williams %R is rebounding from an oversold condition.
AUDJPY (weekly info)-no change (below mid)
trend=up
high= 0.8852
rev= 0.8241; mid= 0.8553
The AUDJPY is also forming a bullish harami. But it's in a trading range and not in a downtrend. It wants to hold the lower trend line. If commodities become the safe haven again then this cross is headed higher.
You know those who dismiss Ayn Rand out of hand may have the wrong ideas. Reardon Metal doesn't have to be Boeing, or Intel. Taking what you put into social security and medicare amounts to the same thing, even if you don't visualize bricks and mortar with it.
ReplyDeleteThink of it as the Oracle that offers one possible view of the future, not as a iconoclastic novel.
And small business has already felt the government interference Rand discribed. Steve Wynn said it pretty well just a couple of days ago.
http://www.bloomberg.com/news/2011-07-20/erdogan-boom-under-threat-as-greek-crisis-exposes-turkey-s-financing-risk.html
ReplyDeleteErdogan Boom Under Threat as Greek Crisis Exposes Turkey’s Financing Risk
...Yes if you add a T to PIIGS...you are almost there. PIG S....IT...
..Hungary?
@BinT
ReplyDeleteYeah, but Reardon Metal can't build a 'dreamliner'...
Oh no wait... neither can Boeing...
@Andy
ReplyDeleteMore hilarity on TWSWB's pompous assed Quiz...
DeDude Says:
July 21st, 2011 at 7:20 am
I think we all should know whether our candidates for the house, the senate and the presidency next year can produce fact-based answers to these questions. After all they will be the ones that either prevent or precipitate the next big crisis. If you elect people who live in lalaland how can they govern in the US.
---ror---
That's it right there... These numbnuts who think the beginning & end to every problem is 'electing the right people to govern us' (more specifically - in his case - the proper branch of the left wing to govern us)...
Here dedude... CV is an easier professor than TWSWB... I'll just give you a simple multiple choice test...
Question: I am a:
a) idiot
b) dolt
c) nimrod
d) all of the above
I'll give you the same 3 hours to contemplate your response...
ReplyDeleteHere's a quiz for TWSWB...
ReplyDeletedefend "typical recovery" in light of all your suppositions...
interesting open here, some of the big leader names are down but the gap seems pretty strong
ReplyDelete"Risk On" bitchez....
ReplyDeleteHope you're OK, LB...
ReplyDeletetook most of my risk off!
ReplyDeletejust sold FXE calls, in @ 140 out @ 143xx
sold 1/2 SPY 135 calls
I got involved with some PEP calls today
ReplyDeletetiny trade.....
is the cup and handle going to play in CSII or what? stay tuned
@qqqq
ReplyDeleteout of the BAC calls yet?
B22, seems to be alot of cups or cup-n-handles lately. good luck on the PEP trade, it's kinda like my opposite HOG put trade, and I'm down a bit on that one :(
ReplyDeletecv, not yet :)
ReplyDeleteit's only 100 contracts @ .04-.05, so I'll let it ride for a while, besides, BAC is gonna turn around and be the best bank ever!
Ben/Andy,
ReplyDeleteNeely's count is looking pretty good right now.
Of course, Andy's expanding triangle is as well.
A move in to the 1350's would have me taking some SHORT positions very quick.
cv more on BAC, I can see it going to 10.50 - 10.80 to possibly fill those gaps, if/then I'll see how strong this move is.
ReplyDeleteAlso, (minor 18.5)$9.00 + (micro 18)1.80 = $10.80(my lunatic 18's target)
what does your gut say?
Oh I'm pretty sure it'll find its way to $11...
ReplyDeleteBut you're playing the Sept calls right??? So I'm not following the gamma/delta on that...
McHappy,
ReplyDeletethe neutral triangle is ok I guess
I still prefer the expanding interpretation and a test of the highs or slightly higher highs than what we've seen so far this year.
a neutral triangle would make more sense to me if the cumulative A/D line had already peaked, because at conclusion of the neutral Neely has a big down wave drawn, the a/d line hit new highs though last week and the leadership stocks are still in-tact. I'd be more inclined to sell 1370 than I am 1350.
cv, yeh, BAC Sep 17 '11 $12 Call
ReplyDeletethis stock doesn't make big moves so I bot some time. And, I don't know about all this crap... I just use trends, support/resistance and gut feelings.
Delta Gamma Theta Vega Rho Theoretical Value Implied Volatility
0.0925 0.1314 -0.0018 0.0063 0.0014 0.05 *35.81%
Foods that last forever - almost - throw away your twinkies
ReplyDeletei really haven't seen Neelys latest count. i only get the once a week update.
ReplyDeleteI'm feeling like my last week's update was sort of money on the S&P....
What Inflation?
ReplyDeleteI can still buy 2 Tacos at Jack in the Box for 99c.
WTF. been the same prices for many years now...
How do they do that?
@AT, is that real meat in those tacos? Have you tracked the price of dogchow for the last few years, then you may have your answer... hehe Also, many buy a soda to wash the tacos down, drive-thru soda's are prolly up 50% in a few years.
ReplyDeleteGold and Silver looking a little overextended compared to Crude... chart
ReplyDeleteGood call on the 10 year Lefty...
ReplyDeleteSteve Wynn's alternate:
http://jammiewearingfool.blogspot.com/2011/07/home-depot-co-founder-on-obama-im-not.html
"I'm feeling like my last week's update was sort of money on the S&P"
ReplyDeleteThat's because it was.
As for the inflation cries, I had hard core right wing radio on for the drive in today, they were repeating over and over
"inflation is here, have you been to the gas pump lately!!!!!"
I can only assume the person saying this hasn't been to the pump since 08, or is bad with math, or both.
"Also, many buy a soda to wash the tacos down, drive-thru soda's are prolly up 50% in a few years"
ReplyDeletehey, check out this company
SODA
hahaha!
B22, lol, you got in at the right time, hope you got out with your wallet filled.
ReplyDeleteUpdated gold-crude-silver chart... easier to read now
Q's
ReplyDeleteI only made a little on it, I'm out now, think it's going down to the 34 ema
but my european carry all is mostly full of plastic anyway, so I'm all set, like the beard:
“I’ve got a driver’s license, my American Express card, a debit card, a Jos. [A.] Bank card where I get my suits, I have a health insurance card. And then I have a variety of other cards, phone numbers, United Airlines, frequent flyer. And I have $45…$75…$85. I’m all set.”
Mr. Wizard, December 2009
SODA
ReplyDeletehahaha! No kidding.
I spend about 3 bucks a week on mineral water. At that rate...it'll take over a year to pay the soda stream off...at which point it'll no longer work.
In a year, you'll be able to pick one up at a yard sale for pennies on the dollar...along with the fondue set, the crock pot , the bread maker, the George Foreman grill, the panini press and all the other crap people are in such a big hurry to buy...but never use.
For further examples...check out your town dump.
The Chinese thank you for that...
ReplyDeleteCV
ReplyDeleteI'm still using a 1950 GE chrome plated silver rocket toaster at my cabin...one of two my parents received on their wedding day. Planned obsolescence wasn't their long suit. It also doesn't turn a slice of bread into something resembling a soup cracker. The orientals oth...
Whoops, slip of the keyboard...not to pigeon hole a race, creed or color.
ReplyDeleteThe only thing that matters to the CB's & TBTF is that gold is back under $1600 and silver is under $40. But the 10yr yield is back over 3.00%, the 30yr over 4.30% and the 2s30s Spread is back to 3.91 spoiling some of the fun. The fun.
ReplyDelete