FT MIB (weekly info)
-no change (below mid)
trend=down
low= 14602.33
rev= 18433.68; mid= 16518.01
Italy is trying to push higher. It's a wasted effort. It's still below all SMA's and the weekly 3LB mid. It's also trading below it's monthly 3LB reversal.
CAC 40 (weekly info)
-no change (below mid)
trend=down
low= 3016.99
rev= 4101.31; mid= 3559.15
The CAC 40 is not confirming a bullish thrusting and has pushed above its 61.8% retrace. It's still below all SMA's and its monthly 3LB reversal price. It's MACD is moving higher and Williams %R has worked off its oversold condition. Still doesn't mean it's safe to get in the water.
DAX (weekly info)
-no change (below mid)
trend=down
low= 5480.00
rev= 6981.49; mid= 6230.75
Germany is also not confirming the bullish thrusting but is not above the midpoint of the bearish long candle. It is back above its 50.0% retrace. It's still below all SMA's. Does anyone notice that all three charts have the exact same formation?
35 comments:
@AT,
reminded of some comments you made recently about Lady Gaga
noticed in RS that through 8/4 of this year Adele's 21 was number one selling album with 2.5 million copies sold roughly.
Lady Gaga, who gets way more press, she was number two at 1.5 million, though, she also has the number two grossing tour behind U2 YTD. I do not know the figures for digital downloads, maybe Gaga is killing it there.
I'm still with you, the LadyGaga star will fade
I see another Fed president opened their mouth and sent gold soaring.
AR... “More gold has been mined from the thoughts of men than has been taken from the earth.”
Ra,
Did you watch him this morning? Quite a contrast with others within the Fed.
Clearly they are at odds with each other. Real interesting to see one Fed pres state publicly QE didn't really work while another states over and over again that unemployment is a major problem (in justification of more fed action) while also saying QE did work.
Wow. Consumer confidence 44.5 on consensus of 52.5.
ben22
Sometimes I wish the FOMC minutes contained a transcript. There should be some yelling and screaming over ideas.
State Street Investor Confidence 89.6 down from a revised 102.5.
"the LadyGaga star will fade"
Ya think?
@QQQQ
“More gold has been mined from the thoughts of men than has been taken from the earth.”
---
“More tungsten has been mined from the thoughts of economists than has gold been taken from the earth.”
There... fixed it...
@Amen
"Wow. Consumer confidence 44.5 on consensus of 52.5.
---
AMAZING... The start of the NFL season should at least give a 5 point bump on that...
CME: Coming September 12, 2011, the E-micro Gold futures contract (Commodity Code: MGC) will offer the added opportunity of a 10:1 offset with the 100 oz. benchmark Gold (GC) futures contract.
"Wow. Consumer confidence 44.5 on consensus of 52.5."
this is more bullish than bearish
"Coming September 12, 2011, the E-micro Gold futures contract (Commodity Code: MGC) will offer the added opportunity of a 10:1 offset with the 100 oz. benchmark Gold (GC) futures contract."
Surely a scheme developed by JP Morgan.
AT,
did you have a structure in mind for your Z wave, assuming you havent' tossed that count
are you looking for 5-3-5?
"Wow. Consumer confidence 44.5 on consensus of 52.5."
this is more bullish than bearish
Exactly....
European markets do still have that cliff dive look to them....
This is often a very light trading week, and that usually means UP.
I might take the under on tomorrow's ADP. Last number was quite strong, and it's a noisy series, as they say....
Then again, weak is good. Bad data, higher QE probability.. etc....
Silly game, isn't it?
Surely a scheme developed by JP Morgan
---
You know ben... 'snarkiness' cuts in both directions...
I'm pretty sure that EQUAL to your distain of any 'one dimensional' arguments that goldbuggers &/or ZH'ers (of which I'm guessing you think are one in the same)...
Is...
The distain that any other 'ad hoc' conspiracy theorist (or wannabee thereof), woul feels towards someone who constantly wanted to mis-direct any culpability away from powerful banking interests &/or not acknowledging that they might be at least TRYING to rig the game in their favor base on their proximity to the creation of policy...
---
Of course, you're right... Because Hitler, Napoleon, or any 'Red Shield-ers' are all just average joes walking into some casino (just like you & me) that they don't know about...
There's no such thing (in the world) of anyone that was ever involved in any sports 'point shaving' scandals... There have NEVER been any such things as 'Ponzi Schemes' perpetrated by anyone... Nobody 'cooks books'... Nobody 'changes rules' midstream...
It's all the MARKET...
---
Now... Where I 'side' with you is the fact that THE MARKET, eventually lays:
- Napoleon
- Hitler
- Bernie Madoff
- Enron
- Politician of your choice
to waste...
To sit there and be snarky about JPM (or whether or not they're involved in a "gold mini" exchange) just because you're sick of hearing about Max Keiser (& it doesn't fit into an EWI bible)... Is... well...
CV,
as if I should respond to such trash
but sure, you've got me all figured out, I'm an apologist for banks and pretend that bankers are on a level playing field as Joe Public. Yep, I've made dozens of posts to that effect over the span of four years now. Yep, you've got me figured out.
Only....not at all.
Reality is I do not constantly claim banks have done nothing wrong, I do the exact opposite in fact. I've been beyond critical of banks, consistently, for years.
That said, the JP Morgan metals sutff is verifiable, it is not my opinion, and wow, look, it's total nonsense the claims that have been made.
I could really give a shit what you think about my bashing such things which in effect is my desire to operate in the world of reality rather than what I can cook up in my imagination. I could also care less how it appears to people that are on "the other side"....you know, the one's that *know JP Morgan is really short, or make insanity claims such as when the CME increases margin it's because they can't deliver the physical gold or that they are trying to crowd out Joe because he now needs a whopping 7 grand to control nearly 200k of gold.
But sure, nobody should be allowed to call out such things because of how evil and corrupt the bankers are, and really people should be questioning my motives here.
and you know, it's sort of hilarious you would even state such a thing when I've repeated on this blog more times than I can count that the Fed should be abolished forever
but yeah, I'm just so in love with the banks....
I hope people are tuning into the new religion out there, it's quite obvious to me.
@ben
Nobody could 'pretend' to know anything that really goes on inside your head...
All anyone has to go by, (really - in the end), is that you hardly miss a chance to point out that any "JPM attempt to manipulate the market" ideas are preposterous...
---
In fact - I'm going to turn the whole thing around an use that logic on MYSELF...
CV "NEVER" misses a chance to point out...
- That Obama is an idiot
- That Michael Vick 'talented' (yet overblown both fame & 'getting paid' wise for what he has to offer)
- That Barry Ritholtz exemplifies a 'clannish' behavioral pattern (that is largely removed from the rhetoric he spews)...
---
So basically... that makes CV a 'racist' & 'anti-semite' (based on my writings - even though NONE of you have ever met me & have not a 'clue' as to what I really think)...
Good - glad all of that is settled...
"I've repeated on this blog more times than I can count that the Fed should be abolished forever..."
---
Frankly - I don't see as how you'd really care, given the fact that they have nothing to do with anything...
But that's just my torn logic circuits acting all up again... :-)
I'm just trying to get you all riled up & unfocused before the draft on Sunday...
It worked on the dudes in my last draft... Big $$ there an they let CV slip away with...
- drew brees
- Andre Johnson
- Mike Wallace
- Steve Johnson
- Brandon Lloyd
- Felix Jones
- Cedric Benson
- CJ Spiller
So the 'strategy' worked...
"All anyone has to go by, (really - in the end), is that you hardly miss a chance to point out that any "JPM attempt to manipulate the market" ideas are preposterous"
Ok, i'm going to say this one last time and that's it. People that understand the English language will have no problem understanding this:
My comments are, and always have been, in relation to said claims on JP Morgan and their supposed metals positions as well as their "true goals" with said metals positions. As for manipulation, if people still want to make believe a bank could manipulate the entire market (as in stocks or bonds), Im not going to try to change your mind, believe what you want. Regardless, never once have my comments about JP Morgan had anything to do with manipulation of stocks or bonds.
my comments have always specifically related to the claims about their short positon in silver.
The only other metals comments I have ripped to shreds are claims about margin that various sources have made.
The claims about JPM's short positions were easily verifiable in Q2 of this year, one simply needed to read their statements. So:
this is NOT about my opinion
this is NOT about what is 'going on in my head'
this is NOT about anything else that JP Morgan has done
this IS about people making specific claims that can in fact be proven true or false, claims that some people continue to stick by despite overwhelming evidence that it is in fact impossible for them to have had positions that some claimed they did.
Like I've also said, magical thinking was supposed to get popular in this market, it's funny how you come to the table with straight facts and somehow people try to corner you about your true intentions in doing so.
"Frankly - I don't see as how you'd really care, given the fact that they have nothing to do with anything..."
Again, nobody ever made that claim, I certainly never did.
but you know, CV likes to play this game every few weeks. Raining in WV today. Bored?
Pick a fight with someone else, you've already lost this one.
Think what was lost here is how preposterous it is for the CME to offer a "micro" contract..
Seriously, who are they creating that contract for?
Supposedly, only sophisticated investors are supposed to be dealing in futures...
And you're coming out with a "micro" contract??
CV:
You can take CJ Spiller....
But, Stevie Johnson is not slipping that far....
And seriously, isn't anyone else happy to see the mighty Pim(p)Co falling on his sword?
http://online.wsj.com/article/SB10001424053111903352704576539093167112076.html?mod=googlenews_wsj
It's nice to see these "gurus" miss once in awhile....
Now, about that that Warren Buffet...
"Seriously, who are they creating that contract for?"
i'd do the same thing if I were CME
bunch of John's want to be pro traders because they know for sure the future direction of the metals, or better yet, think they know how to trade then go ahead and let them do it
not my problem if they lose money, or worse, nobody made them trade it, they asked for it themself
lets not pretend only sophisticated operators exist in futures, that line gets repeated daily, but everyone knows it's not entirely true
though, I'm sure, when John does lose his ass, it'll be the CME's fault
as for Gross
man that is getting a lot of play today
couple thoughts
1. He's still up for the year, the same can't be said for many big name fund managers and
2. While most funds in the category are beating him YTD, he's destroyed all of them over any meaningful length of time, it's just that in 'a what did you do yesterday world', that type of thing is saved for the very last para of the article:
"Over the past 20 years, the Total Return fund underperformed the benchmark index only four times based on yearly returns, according to data from Lipper—in 1994, 2002, 2006 and 2008. Over the past 15 years, the fund has handed investors a return of 7.5%, beating 6.43% from the benchmark index and outshining all its comparable rivals, according to Morningstar."
Still, it was easy to make fun of PIMCO's silly call on govvies earlier this year, they stayed in denial the entire time about what actually happened in markets and instead fell back on their super intuitive, super market efficient, super intellectual argument about why bonds would surely tank after QE2 was over since the largest buyer of bonds was leaving.
so yeah, I do laugh at that....
@Andy
I didn't even want CJ Spiller...
He was undrafted in, like, the 10th round, so I took him because there weren't really any other prospects (other than taking a kicker that early)...
@ you're WRONG...
Stevie Johnson fell to the 6th round (& I took him BEFORE Brandon Lloyd - so think about that)...
@ben
You're right... I AM argumentative (& bored)...
But basically I get just as tired of hearing how MARKETS WORK all the time...
Sure, you're right, they do... On the same subject... Stars blow up & become red giants (which means that they tend to vaporize inner planets of a solar system)...
---
So what's a knucklehead like me to do in the mean time?
I know! I guess I could trade stocks... Knowing that if I could precisely time the day that happens... I could get rich!
@Andy
BTW... That 'league' (from that draft above) is NOT ppr...
But...
there's a 1 point bonus per 5 receptions (backs & receivers)... & there are bonuses for 100 & 200 yd games...
New thread
"But basically I get just as tired of hearing how MARKETS WORK all the time.."
CV,
blow me
I never said a damn thing about how markets work, I made the conclusion that many Johns will make in 5-6 months after they buy the micro's which was
that it was all by design by JPM that they lost everything, all JPM's fault that they were "suckered" in
it's called I already thought the 3-4 steps ahead to the conclusion of how this will play out
it's pathetic and its reality.....and then you try to put a bunch of words in my mouth that have nothing to do with what I said
so in 5-6 months when you hear me rip the shit out of zero hedge crying woe over the CME you'll understand why now
as for the stars and the nazis and this and that....I think Josh Brown had it right today
there is a bubble in metaphors
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