A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Ha. Got bitten by the tiger in "Eye of the Tiger".
SPX
Doji day. Midpoint below EMA(10). Still below all SMA's. Tested and failed the 50.0% retrace (1204.58). No daily 3LB changes (reversal is 1254.05). QE2infinity. Still below weekly & monthly 3LB mids.
DXY
Bearish short day (didn't confirm bullish harami). Midpoint below EMA(10). Tested and held its 0.0% retrace (73.51). Failing the 38.2% minor retrace (74.40). Still below all SMA's. No daily 3LB changes (reversal is 75.75).
VIX
Spinning top day. Midpoint below EMA(10). Still above all SMA's. Failing its 61.8% minor retrace (33.35). No daily 3LB changes (reversal is 25.25). Still running away from the "extreme fear" zone.
GOLD
Spinning top day. Midpoint above EMA(10). Failing its 0.0% retrace (1801.00). Still above all SMA's. Holding its 38.2% minor retrace (1740.31). New high on daily 3LB (reversal is 1743.00). Must have the precious.
EURCHF
Spinning top day. Midpoint above EMA(10). Holding above its 61.8%% retrace (1.1269). Holding SMA(21). New high on daily 3LB (reversal is 1.1266). The boulder is getting heavier Sissyphus.
JNK
Bullish long day. Midpoint above EMA(10). Still failing all SMA's. Easily held its 38.2% retrace (38.07). No daily 3LB changes (reversal is 39.59).
10YR YIELD
Bearish long day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (21.73). Still below the upper trend line. No daily 3LB changes (reversal is 24.58).
WTI
Spinning top day (didn't confirm bearish harami). Still failing all SMA's. Midpoint below EMA(10). Tested and held its 50.0% minor retrace (86.88). No dally 3LB changes (reversal is 92.08).
SILVER
Bullish short day. Tested and held SMA(21). Midpoint above EMA(10). Tested and failed its 38.2% retrace (40.69) but holding above its 50.0% retrace (37.94). No daily 3LB changes (reversal is 40.70).
BKX
Spinning top day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 38.2% minor retrace (39.08). No daily 3LB changes (reversal is 42.34).
HYG/LQD
Bullish short day. Failing all SMA's. Midpoint below EMA(10). No test of its 0.0% retrace (0.7427). Tested and failed its 61.8% minor retrace (0.7682) but held the 50.0% retrace (0.7634). No daily 3LB changes (reversal is 0.7910).
USDJPY
Bearish long day. Midpoint below EMA(10). Still below all SMA's. Tested and failed its 38.2% retrace (76.561). New low on daily 3LB (reversal is 77.03). Calling BoJ. Calling BoJ. The line in the sand has been crossed.
IT HAS BEGUN. BE WARNED.
25 comments:
http://www.zerohedge.com/news/chavez-pulls-venezuelas-gold-jp-morgan-great-scramble-physical-starting
As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?
In addition to the nationalization of his gold insutry, Chavez earlier also announced that he would recover virtually all gold that Venezuela hold abroad, starting with 99 tons of gold at the Bank of England. As the WSJ reported earlier, "The Bank of England recently received a request from the Venezuelan government about transferring the 99 tons of gold Venezuela holds in the bank back to Venezuela, said a person familiar with the matter. A spokesman from the Bank of England declined to comment whether Venezuela had any gold on deposit at the bank." That's great, but not really a gamechanger. After all the BOE should have said gold. What could well be a gamechanger is that according to an update from Bloomberg, Venezuela has gold with, you guessed it, JP Morgan, Barclays, and Bank Of Nova Scotia.
Hello All:
This is the last thing that I'll post about the Chips Ahoy test. I have been on a fishing trip with my father all week. Prior to the trip, I bought both the normal pack (two rows) and the family pack. I switched out the cookies from the normal pack with the family pack and brought the "normal" box on the trip. He took one bite into them and started complaining that they must make them differently in Chicago. He is definitely able to detect the difference between them... somehow. For me, that closes the case.
I will be back in the office next week, so should be able to provide some color on fixed income markets. I might call into the office on Friday to get something earlier.
Fishing was amusing, as always. I didn't get the yield that I wanted, but I learned a ton this year. Maybe I'll get good enough, one of these years, to quit taking 10-15 bps per anum from pension trusts and go pro (not even close to that good yet).
Cheers,
Matt
Matthew,
Awesome story man, I really couldn't taste a difference, now I'm tempted to try it again, I've got some regular and soft batch at the house right now, but no family pack.
There is some worthwhile reading here with a link to the previous post that is related by the person that goes as Volar, I would highly suggest a look at this, lot of potential value here:
http://evilspeculator.com/?p=23225
@Matthew.
Thanks for settling that one.
I WILL NEVER buy the family pack of Chips Ahoy.
End of story.
Wonder why Venezuela is asking for it's gold back?
That't my first question.
My second question is why Venezuela ever had Gold on deposit anywhere?
Couldn't find a safe place in the country?
Think the remainder of the week is going to be a grind...choppiness...
volatility bound to keep coming off...
if you're long index options, prepare to lose money for the next few days.
We had a side bet going today in the office...trying to guess Maria Bartiromo's age...
I was WAAAAY 'high' relative to the crowd....
She's not aging that great, IMO.
45-47?
She's not aging that great, IMO.
I've discovered in my business that the ass goes before the face...
More ways to hide the ass though... Until they all start wearing burkas in this country (which ought to be within the next 50 years)...
I'm just hoping its 'Pelosi' as the first one they put into the burka... Followed by Hilary...
It ought to be somewhat 'ceremonial' (as it was they who seemed so anxious to get the ball rolling on that)...
If they put 'Romer' in one, it might be an improvement (then again - that goes for all of the above)...
@Amen (7:44)
So I take it that Max Keiser & Hugo Chavez right now are BFF's...
ben22: Yeah, I guessed 47....
she's 43.
CV,
Zumba signs all over my Y I noticed yesterday
@cv.
The ass does go first....i'm learning that....
I saw Maria toss the first pitch at some baseball game a few years ago...I was 'struck' by the size of the back side...
It seems like she's been on CNBC FOREVER....that's why i guessed 'high.'
If this whole brokering/trading thing doesn't work out for me....I'm definitely getting into some Zumba instruction....
seems like a "trend" for the next few years...
Not burkas but muumuus...
Also, I'm officially adding a new moniker for Ritholtz...
For the next few weeks, he will be known to me as the "Laser Guided Bomber of Truths" a la this piece from last week:
http://www.ritholtz.com/blog/2011/08/speaking-soothing-words-vs-truth-bombs/
Actually, the new trend I'm seeing is "Maxi Dresses"....
all the fashionable Katy 'burb moms are going this way....
The new QOTD will stand for a few days...
I think it's awesome:
"A leader is a dealer in hope."
Maxi Dresses = muumuus
...in parlance
---
Re: Zumba
See... The 'bullshit' is that while I was in Italy (back in 1999... we were the ones who discovered 'Beto' (the creator of Zumba) & brought him there to make it famous...
Now it's all 'catchy' here in 'Podunkville USA', what??? 12 years later...
Child Please...
Want fotos (of Beto on our stage in Rimini (in 1999)?... I have them...
11 out of 10 people any of you meet are fucking "Johnny come latelies"...
gotta go 2 bed...
effin 5:00 am class tomorrow...
Jesus tapdancing Christ Americans are idiots!
In Italy... Nobody would even think about having a class before 9AM...
speaking of Zumba..
passed a Church, today, ~25 miles, EZ, from anything that could begin to pass for a 'Downtown' (N. of Reading, W. of the Lehigh Valley) -- in 'Farm Country'...
3 Signs out Front, adv. Zumba classes available at 3 different Times, during the Week..
Maria needs follow Rachel Ray's lead..RR was measuring her ass in Meters, too..apparently/allegedly, thx. SoperMarket Tabloids at the 'Check-Out' Counter (Headline was saying she dropped ~30 #'s, now measures her ass in, simple, Yards...
ibid.
"A leader is a dealer in hope."
A Campaigner is a Dealer of False Hope."
ibid.
good Quote, though, much Truth in that observation..
Warning. You can't make obnoxious comments about BR or his other authors outside of his blog....
otherwise you get deleted while on his blog.
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Andy T Says:
August 17th, 2011 at 10:26 pm
DELETED
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Editor: Shouldn’t you be making obnoxious comments about this blog behind its author(s) back elsewhere? That’s what you usually do.
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That's hilarious.
Mission Accomplished.
Futures down in the overnight but we know what happens in the wee hours of the morning. I do expect that Initial Claims will be revised higher (over 400k) and a WTE number for this week.
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