BAC (weekly info)
new low 7.19
trend=down
low= 7.19
rev= 10.00; mid= 8.60
BAC formed the first two candles of a morning star on the weekly chart. This week is not making the third candle in the formation. It's below all SMA's. It's below its 61.8% retrace (7.83). It also gapped lower last week. Not too much volatility this week. But that could change.
WFC (weekly info)
new low 24.13
trend=no
direction=down (2 bars)
low= 24.13
rev= 29.14; mid= 26.64
WFC is not as weak as BAC (yet) as it's holding its 38.2% retrace. Yet it's below all SMA's. It's trying to hold its monthly 3LB mid. Currently another morning star pattern is failing to form.
IYR (weekly info)
-no change (above mid)
trend=up
high= 50.01
rev= 45.80; mid= 47.91
It appears RE is still pushing higher. Odd since lumber is lower. It's above most of the SMA's (except the 233). It's above its 38.2% retrace. But it's now trading below its monthly 3LB reversal price. So happy times may be about to end.
52 comments:
Ra,
for some reason I laughed pretty hard reading that BAC chart description
Morningstar...um, no.
should be a wild day....
Gold is singing "Up, up and away in my beautiful, my beautiful balloon..."
we need spoonman to pop in
"gold, very powerful"
That JS clip showing how the media blows off Ron Paul seems to have really made the rounds, of course, that's been obvious for years now.
I often identify him as one politician that doesn't make me want to puke, lots of people mention they've never even heard of him....
http://www.zerohedge.com/news/intesa-sanpaolo-down-almost-700-halted
It was down 7% and was halted. I thought there was a short selling ban? Oh wait...that must be the longs dumping their stock. So much for the short selling ban.
yeah, short selling ban, that should have worked wonders for them
NOT!
CV,
sounds like Maclin is going to be back at practice in a few days....time will tell I guess. His body is probably pretty weak.
Longs are feeling like bugs on a windshield...
@Andy T
August 17th, 2011 at 10:26 pm
DELETED
~~~
Editor: Shouldn’t you be making obnoxious comments about this blog behind its author(s) back elsewhere? That’s what you usually do.
~~~~~
That's hilarious.
Mission Accomplished.
---
As always... another "CHICKEN & EGG" scenario...
CV started making obnoxious comments about Ritholtz AS RESULT of having been edited out of making purposeful comments ON his blog...
So FUCK YOU VERY MUCH with his 'behind the back' claims...
Oh... & the OTHER part (of making comments elsewhere) is basically (as with other blogs)... That the COMMENTS & COMMENTARY suck there & the blog itself is populated by a gang of idiots...
The only thing WORSE than Ritholtz and his lame ass economic ideas are people who are actually Ritholtz 'wannabees' (as if the GOAL in life is to be some kind of Krugman - NY Times - WaPo reading liberal IMBECILE (posing as a libertarian)...
Yeah... Sign me up for that...
Did anyone hear that sonic boom? It was from the stops being blown out of the water.
Wow. That's six gaps lower on the 1-min chart of SPX.
CV,
oh you just must not be a "truth seeker"
bwahahahahahaha
Let me give you a perfect example (just so you know - once again - that CV ISN'T MAKING THIS SHIT UP out of thin air & just hurling insults at Ritholtz willy nilly)...
OK... first of all...
Ritholtz was "early" to come out and basically defend the Obama Administration... Not necessarily in "words", but in actions...
How?
Well - from the beginning, he's been calling this a "typical recovery"... YEAH RIGHT...
But how & why would someone so 'apparently' smart as Ritholtz characterize this as a 'typical recovery'... EASY... Because even though he's FOS, the Administration policy is FOS, & all the 'hand picked' economic research & data is FOS... He spins it as TYPICAL... Why?
Because, it seems, a great deal of his Fusion clients are unions (who are beneficiaries of FOS economics)... So he's basically gotta 'do the FOS dance' or it might cost him a client base...
Fast forward to the present... I'll just pull shit out at random here...
This morning I read a 'headline' about the Feds investigating S&P's role in the financial crisis...
Folks... CV predicted that (on this blog) several weeks ago... CHICAGO STYLE politics... Obama needs to deflect blame that he's responsible for anything, so he's going to twist some arms to make S&P the scapegoat... Media blitz to follow (so that within a few months, we'll not only be finding out that S&P was resonsible for the downgrade, & resulting poor job numbers - but they might actually be the cause of AIdS, shot Kennedy, fired the first shot at Ft. Sumpter, dropped the winning T in the end zone in the Super Bowl, got an own goal in the World Cup, & are the parent company of Waddell & Reed - all wrapped up in one)...
Will Ritholtz be on board with any of this... Sure - as soon as he figures out which way to 'spin it' (to not adversely affect his posturing)...
Until then you'll hear his "fishing trip stories"...
OMFG Philly Fed -30.7 previous 3.2
ben22
Low TICK -1438. Lowest reading since the week of 11/9/07.
& as for 'Ritzy's' Hamptons 'wine party at the yacht club' friends... Like Dougie Kass...
---
Well... this is just... funny... (ht - ZH)
"As for those who followed Doug Kass' advice and bought XLF yesterday, we have four words: iShares [3x] Inverse Kass ETF."
ror
"We lightened up & trimmed some positions (from the canoe)" proclamation coming from TBP in...
8...5...3...2...
10yr had a low of 1.978% so far today.
Amen:
I find this divergence between the bond buyers and the gold buyers to be the most interesting thing on the screen for this second half of 2011. "Bonds very stong, gold very strong."
Don't worry, Ken Fisher says if you have 500k to invest with him, he will make you long money in today's market.....now where is that phone number. Aw, the lines are busy, call again when volume is lighter..
Ra,
10:09
and that was a kick-off warning in 07!
@Bruce,
gold, vs. bonds
totally agree with you, most interesting thing in a long time from where I'm sitting
CV,
10:14
hilarious man.....go there now.
re: Ken Fisher
I get forbes now, got it as a xmas gift from family
he writes a column in it each issue
earlier this year, for example, he was a big buyer of RIMM, basedon the low p/e ratio....yep
but hey he "called the bottom in 09"....and also about 73.5 times in 08.
This from the "laser guided bomber of truths"...the "wall streeter who blogs,".... the guy who can break down the economic universe in 10 bullet points...
"As noted August 1, I have limited exposure to equities — mostly value indices, some managed funds that can run up heavy cash positions. Our tactical portfolio flipped form 100% stocks in June to 50/50 stock/bonds in July to 100% bonds in August.
All told, not a bad day to be a bear . . ."
When the hell did he go 100% bonds?
hard to say Andy because he has two videos at the blog that are quite different
one right after the fishin trip
we got out of this that and the other last week, (this was right before the big decline)
then the rally off the early august lows started, he did a video with Task and Blodgett where he says he's not ready to call bottom but was looking for selective buys "we leg in 10% here, 10% later, 10% more later...."
then today big down and the tactical portfolio is back to 100% bonds
they are momentum shop and I do think they switch pretty fast, but I certainly don't recall any mention of having moved to 100% bonds.
MS economic forecast revision - BULL CAPITULATION.
Barry going 100% bonds? Put a fork in fixed income....
Yo LB.
ManUtd 1Bn IPO....
Now, that's a PEAKING signal for a club....
CV's NFL PRE-SEASON PICKS - Week 2
I have to check it out, but after a rocky start picking the Ravens (vs. Eagles) last week for multiple units, & a single unit miss on the Chargers... I came back with single unit wins on Tampa Bay - St. Louis - & Cleveland... So I think I'm 3-2 in picks, but minus a unit or two on unit weighted picks...
--- Thursday Night Games ---
New England at Tampa Bay (-3)
I took the Bucs (against the Todd Haley Chiefs) last week, but I can't really back them here (especially GIVING points to the Patriots - who dismantled the Jags with Ryan Mallett)...
I expect Belichick to continue to use Mallett as much as possible to get his market value up (then hide him on the bench behind Tom Brady)... Then, in a few years, some imbecile GM (like Scott Pioli) will think he's the next Matt Cassell & overpay a draft pick for him...
The Jets LOST on Monday Night to Houston... So you don't think that Belichick is going to pass up this opportunity to go 2-0 in the pre-season before the Jets even have a chance to get a win o you?
I'll take the PATS (& the points) for 2 units.
Philadelphia at Pittsburgh (-4)
Here you have Mike Tomlin playing the Rex Ryan role... How embarrasing was it to lose to the Rex Grossman Redskins last week for the Super Bowl losers?... Basically, the big difference here is that the Steelers 'scrub' QB's are the Charlie Batches & Byron Sandwiches of the world... Not some gleaming rookie from Eastern Montana State who has never run a pro-style offense, nevermind been handed an NFL playbook until about 2 weeks ago...
I'll actually GIVE the points with the Steelers here for (1 unit)...
I seem to remember a certain wallstreeter who blogs refusing a congressional appearance due to scheduling conflict (apparently)...who knows. Last I checked...good governance also requires citizen participation.
Now he's going to point fingers using a data set rife with socio-cultural, bad parenting, personal responsibility and personal behavior issues.
As for cause and effect...when's the last time a state governor became responsible for your latest dose of the clap?
Not that I like Perry ...but evidently...ritholz and invictus seem to feel the need for governance in the form of a third parent.
Free beer to anyone who can get kicked off that blog.
This is where it starts people (the 'decline' - that is)...
Vick tells GQ Eagles were his third choice
http://sports.yahoo.com/nfl/news;_ylt=AruKcMdGN0fxllLsch14sWc5nYcB?slug=ap-eagles-vick
---
Oh... so 'now it can be told'... Vick's 1st choice would have been the Bengals or Bills (which goes to prove - Vick making EXCELLENT life choices after time in Leavenworth)...
Vick now putting himself ABOVE the organization...
dude - trust me... Think you'd have had any chance of making any highlight reels last year in Buffalo or Cincy... Hell - TO went BOTH places & basically disappeared...
Vick is LUCKY that Kolb went down at the beginning of last year...
I'm telling you now peeps (as I did ALL LAST YEAR)... Vicks KARMA is about to visit his 'dogma' if he doesn't keep his mouth shut...
@Mel.
Invictus has done that before here:
http://www.ritholtz.com/blog/2011/05/profile-of-states-draft/
I shredded up on his methods then...and I did again last night...
That didn't sit well with the "editor"
lets just get real
invictus, just like Barry
is blinded by political affiliations
pretending, among other things that they "don't know what the Dems economic policies are"
they like to pretend that they simply "look at the facts to make choices" but we know for sure invictus got duped and voted for Obama
so just like everyone else he gives into emotion when it matters most, there were no "facts" about Obama to make anyone elect him outside of the way he made people feel with his bullshit yet brilliant message of hope and change.
I see there was a 2PM squeeze try. FAIL. Will there be another one at 3PM? Inquiring minds want to short some more.
Exact opposite at 3PM. TICK went -900 right at 3PM.
@Andy
I figured as much.
Further to the OT convo FWIW...Latest Statscan figures indicate a 4.9% unemployment rate in my province....which doesn't preclude the fact that 90% of the local welfare rolls and prison populations are made of a 5-10% minority group (who knows..they tend not to fill out census forms)
seemingly hell bent on self destruction...regardless of historical time frame, party in power, or how much money is thrown in their direction directly or indirectly in the form of educational and employment advncement resources and opportunities. It gets tiresome...as do skewed data sets.
(AP:MILTON, Vt.) Police say nearly two dozen Vermont teenagers were involved in a sexting ring in which students accessed indecent photos and videos of female classmates from a special email account.
Milton police said Thursday that five boys admitted viewing 30 to 40 images and three videos, many of which were sent by cellphone. The Milton Independent first reported the story.
Police say two of the five boys used school-issued computers to access and distribute them.
Detective Cpl. Paul Locke says girls took photos of themselves and sent them to the boys, who forwarded them to the email account. He says 17 girls aged 14 to 17 were in the photos, many of which qualify as child porn.
The students will not face charges but must attend mandatory sessions with a community board.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
http://news.ino.com/headlines/?newsid=689806777371790
the latest 'excuse' to Censor the i-net..
AAIP
Yaaaaaaaaaaawn...just another 50 pt swing in the Spoos. Bore - ing.
I see the "fear of the bulls" kicked in around 3:45PM to keep the SPX from breaking below 1130.
spoonman
It's becoming an everyday thing.
"Linda Hogan on Tuesday implied that her ex-husband, Hulk Hogan, carried on an “intimate relationship” with his best pal out of the ring, Ed “Brutus Beefcake” Leslie."
Anonymous said...
Bulls look like they're fixin' to get, yet another, 'Sack' sliced off of them..
Steers. It's 'What's for Dinner.'
AAIP
August 16, 2011 11:06 PM
it does Suck, for your Timing to be off..
but, better 'Early', no? Than 'lightening up', ATF, yes?
AAIP
@M E Hoffer
You ever indulge in fry pan of bull sacks and a few shots of something clear... in a crock pulled up from the bottom of well?
Mel,
'Sacks'? No.
"Rocky Mountain Oysters"? Yes.
and, funnily, enough, it was w/ (many) Shots 'of something Clear'..
though, not "in a crock pulled up from the bottom of well?", that I recall..
btw, what does that refer to?
AAIP
ATF "After the Fact"
ibid.
@ AAIP
I don't know how the fuck to refer to you anymore:-)
Clear in crock simply refers to Saskatchewan familial history...and the paternal and maternal matriarchs penchant for distilling their own versions of good grain whiskeys.
Mel,
yes, the 'Shine..
always, as it ever did, cut down on Transport costs..at the min.
but, now, No, never with 'the Clear, the Crock, of which, pulled up from the bottom of a Well..'
AAIP
O, and, btw, refer to me however you'd Wish..
CrackieMac gets it, I'm sure I will, too :)
ibid.
today's line-up @
http://www.zerohedge.com/
has me saying "Wa'how" (wow)
It's, always, struck me--the vehemence, and pettiness, of the *attacks on Ze'Hedg..
I *hope those whelps have enough, physical Currency, to Burn, to stay Warm..
Like the, continuing, Left (i.e. Invictus) forever 'sniping', at the *other side, never bothering to learn/wonder about things like: ""In times of change learners inherit the earth; while the learned find themselves beautifully equipped to deal with a world that no longer exists." -Eric Hoffer "
FD: yon' quoted Cat is of no known Relation..
AAIP
The students will not face charges but must attend mandatory sessions with a community board...
---
Now that's just hilarious...
"mandatory sessions" doing WHAT???
First thing that popped into my dome was some kind of scene where they were subjected to 'Malcom Mcdowell' like scenes from 'A Clockwork Orange' where they're forced to watch images of 'American Gothic' on a movie screen for hours on end with their eyelids stapled open...
---
Just sounds to me like the kids are prime candidates to attend...
The "U"...
So here's Obama's new idea on maintaining diplomatic relations with PROC...
http://rivals.yahoo.com/ncaa/basketball/blog/the_dagger/post/Wild-brawl-ends-Georgetown-8217-s-exhibition-ga?urn=ncaab-wp4252
He's on a roll after his big 'Obamacare' success last year...
http://news.yahoo.com/employees-beware-higher-healthcare-costs-ahead-184709897.html
Corner is up.
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