30 Yr Bond (weekly info)
WEEKLY CONFIRMATION new high 132.188
trend=no
direction=up (2 bars)
high= 132.188
rev= 122.688; mid= 127.438
Appears buying of the 30 yr doesn't plan on stopping just yet. Almost hard to believe the auction was almost a failure (or was it?). It's above all SMA's. It tested and held its 0.0% retrace (135.156). This is as high as its been since 10/08. So does that mean the economy is better or traders are scared as hell?
BOVESPA (weekly info)
new low 52949.22
trend=down
low= 52949.22
rev= 71830.18; mid= 62389.70
Since most people are looking at the problems in the EU they might need to look a little closer to home first. Brazil's index closed below its 50.0% retrace last week. It's below all SMA's. It even tested its 61.8% retrace. Currently this week is forming a bullish thrusting so the down move is taking a breather before continuing.
IBEX (weekly info)
WEEKLY REVERSAL new low 8671.20
trend=no
direction=down (1 bar)
low= 8671.20
rev= 11068.10; mid= 9869.65
Spain is also having its own share of problems. It closed below its 50.0% retrace last week and is now below its 61.8% retrace this week. It's also below all SMA's. Now Spain is implementing a short sale ban. The 0.0% retrace may be tested much sooner than anticipated.
18 comments:
AmenRa,
Yeoman's work, as per usual..
Mucho Appreciado~
AAIP
So how long will the short ban keep the EU markets afloat? A week, day, hour, minute?
speaking of "Patton"
"The time to take counsel of your fears is before you make an important battle decision. That's the time to listen to every fear you can imagine! When you have collected all the facts and fears and made your decision, turn off all your fears and go ahead."
~General George S. Patton, Jr.
http://www.financialsense.com/contributors/james-j-puplava/2011/08/09/no-way-out-part-one-financial-risk
ibid.
cv--,
re: last Night..
good Reason why I don't 'do' "Pre-Season" ..~
UoM Consumer Sentiment 54.9 & previous 63.7. Expectations were for 63.0. It only contacts 500 people so take it for what it's worth.
And to think that gold was up $150 for the week until the CME hike. It's still up 5% for the week instead of 9%. Five percent is nothing to sneeze at these days.
Hey Ra! Thanks again for the great charts.
If Au follows the Ag pattern - there were several CME hikes, followed by some weekend and small hour shenanigans prior to its crash.
Not sure Au is as vulnerable as Ag...
MEH.
Thanks for the patton quote...
instantly becomes QOTD.
My first target is the daily 3LB mid. A close above that may indicate that the short (really short) term sentiment is changing.
AT,
re: (now) QOTD
no problem~ though, as you can see, I caught sight of it, via J.J. Puplava, over @ financialsense.com..
AAIP
think people will hold over the weekend?
I guess Goldman will.
B22, guess that might depend on what level you bought in.
I have proof that the decline in the markets lately is Dubya's fault...
Q's
ha! nice.
@MEH @Andy T @qotd
"The time to take counsel of your fears is before you make an important battle decision. That's the time to listen to every fear you can imagine! When you have collected all the facts and fears and made your decision, turn off all your fears and go ahead."
-General George S. Patton, Jr.
(H/T M.E.H.)
---
Awesome quote... ANY quote by General Patton is INSTANTLY enshrined in CV's archives...
Others (whether ACTUALLY said or just scripted into the movie - which Geroge C. Scott won the Oscar for, but refused the statuette for... Which was, as most of you don't know, was a CLASSY move [because he was rebelling against the same things that CV does every day whilst getting 'criticized' for])...
???
---
"Now, I want you to remember...
that no bastard ever won a war...
by dying for his country...
He won it...
by making the other poor dumb bastard...
die for his country..."
---
"The bilious bastards...
who wrote that stuff about individuality...
for the Saturday Evening Post...
don't know anything more about real
battle than they do about fornicating...
---
by God, I actually pity those poor
bastards we're going up against...
By God, I do...
You know...
We're not just going to shoot the bastards...
we're going to cut out their living guts...
and use them to grease the treads of our tanks...
We're going to murder those lousy
Hun bastards by the bushel...
Now...
some of you boys...
I know are wondering...
whether or not you'll chicken out
under fire. Don't worry about it...
I can assure you...
that you will all do your duty...
The Nazis...
are the enemy.
Wade into them!
Spill their blood!
Shoot them in the belly!
When you put your hand...
into a bunch of goo...
that a moment before was
your best friend's face...
I assure you...
you'll know what to do...
There's another thing
I want you to remember...
I don't want to get any messages
saying we are "holding our position."
We're not "holding" anything.
Let the Hun do that...
We're advancing constantly...
We're not interested in holding on to anything...
except the enemy...
We're going to hold on to him by the nose
and kick him in the ass...
We're going to kick the hell
out of him all the time...
and we're going to go through him
like crap through a goose!
Now...
there's one thing...
that you men will be able to say
when you get back home...
And you may thank God for it...
Thirty years from now when you're
sitting around your fireside...
with your grandson on your knee...
and he asks you:
"What did you do in the great
World War ll?"
You won't have to say:
"Well...
I shovelled shit in Louisiana..."
All right, now, you sons of bitches...
now you know how I feel...
I will be proud. . .
to lead you wonderful guys
into battle anytime... anywhere.
That's all..."
But probably CV's favorite...
Patton: "Hold it... Turn right, here..."
Omar Bradley: "The battlefield is ahead."
Patton:don't argue.I can smell a battlefield.
jeep driver:He was out here yesterday.
Patton:It's over there. Turn right, damn it.
It was here.
The battlefield was here.
The Carthaginians
defending the city. . .
were attacked by three
Roman legions.
They were brave, but they
couldn't hold. They were massacred.
Arab women. . .
stripped them of their tunics
and their swords and lances.
The soldiers lay naked in the sun. . .
years ago.
I was here.
You don't believe me.
You know what the poet said:
"Through the travail of ages
It's the pomp and toils of war
Have I fought and strove and perished
Countless times upon the star
As if through a glass and darkly
The age-old strife I see
Where I fought in many guises
Many names
But always me. "
You know who the poet was?
Me.
Andy T:
Congrats on your weekly close e target. I am in awe.
Whoa...
WTF on the 'Platinum' candle today???
did Justin Beaver just come out with a new cd?
AT, it was a rogue trade when looking at a 5 min chart.
what up with this?
CA muni's turn-around, which I own in my charitable trust! (only charitable to me when I retire tho)
CV is gonna 'toss this in' to the PRE-AMEN RA'S CORNER mix...
---
NFL Pre-Season Tonight
cincinnati at detroit (-5)
Jim Schwartz (Lions) is 6-2 preseason as head coach while Marvin Lewis is 17-16... It's hard to detect a pattern there... all things included... PASS
Miami at Atlanta (-3)
Probably subterfuge... Miami 'blows' (personnel wise) vs. Atlants & Bill Parcells is LONG GONE with respect to 4th stringers... Miami coach Tony Sparano is even calling this an 'intra-scrimmage' game... Yet he is 9-3 in pre-season, whilst Mike Smith is 6-6... PASS
Pittsburgh (-1.5) at Washington
Jesus Tapdancing Christ... is THIS a 'teaser' line???
Mike Shanahan is 43-21 in pre-season games while Mike Tomlin is 13-4... Both obviously like to win these 'inconsequential' contests... The Steelers are owned by the 'bookmaking' Rooney family [which probably means they've fixed heavy lines on LOSING with daniel Snyders jewish bankers]...
You might as well bet on whether JPM or GS goes down first... PASS
Tampa Bay at Kansas City (-2)
I don't know how many games into the 2011 season it will take for the PUBLIC to figure out that the Chiefs are 'posers' & the BUCS are 'contenders' (but will probably fall short of the playoff prize)...
But...
Hell... I'd be modestly predisposed to take the 2 points with the BUCS here... Todd Haley is 1-7 in preseason (& now Charlie Weis isn't around to pull his ineptitude out of the fire)... BUCS for 1 unit)...
San Francisco at New Orleans (-3)
Come on Man!
OK... CV has already 'penciled in' a meeting between the Saints & Patriots in Indianapolis next winter...
49ers still have major issues... While I like Jim Harbaugh... Alex Smith???... Still a lot to deal with there (& I don't want to totally count out Alex Smith here... I still think he has possibilities)... But the SAINTS... THIS YEAR... MARK CV's WORdS... Are going to be on a MISSION...
I'll make them my PRESEASON pick to win the SuperBowl...
That doesn't count JACK for the preseason though...
Sean Payton has done an interesting thing... He's going to move the team out to OXNARd, California next week for 10 days (vis-a-vis "Cowboys" ex-camp)... Cooler weather (before they go up to play the Raiders in pre-season)...
To CV? It means Sean Payton, drew Brees, & company are biding their time... They don't need this game... Their eyes are on the NFC South... The Green Bay Packers... then the Lombardi trophy... I'll PASS on this line...
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