ES (weekly info)-no change (below mid)
trend=no
direction=down (1 bar)
low= 1263.75
rev= 1354.25; mid= 1309.00
The 61.8% retrace happens to line up with the lows from 11/16/10-121/10. That's the next level of support if the 50.0% retrace fails to hold. It's below all SMA's. It's below its daily, weekly and monthly 3LB mids. Standing on the edge of the cliff and not realizing it has started to crumble away.
CSCO (weekly info)-no change (above mid)
trend=no
direction=up (1 bar)
high= 16.48
rev= 14.93; mid= 15.71
After a few weeks of "happy, happy, joy, joy" the weakness has returned. With a vengeance. It never made it to the 38.2% minor retrace and is now trading below its weekly 3LB reversal price. It's back below all SMA's and its 0.0% retrace. The lows from 11/08 & 2/09 are the next levels of support.
****I'm having problems posting comments on blogger.com today but can post blogs. Go figure.***
69 comments:
cross-post
Anonymous said...
http://finviz.com/quote.ashx?t=CTL&ty=c&ta=1&p=d
anyway, this is what I was thinking of, when I was 'asking'/'telling'..
"I wonder how much Cock is going to get cut off from CTL"
crudely, it's a play on the "Yield-Ho"-'phenomenon'..
here,
16-Mar-11 Upgrade Stifel Nicolaus Hold → Buy $44
does anyone know where "Stifel Nicolaus", even, came from ?
AAIP
August 5, 2011 6:50 AM
Gotta love Ozzie Guillen...
http://sports.yahoo.com/video/player/news/Graham_Bensinger_InDepth/26116817#news/Graham_Bensinger_InDepth/26116817
http://www.zerohedge.com/contributed/going-dow-n
some of those are pretty funny..
ibid.
its so funny, the mad dash of guests being paraded onto CNBC to talk about forward earnings, as if the reality isn't that even if they knew exactly what earnings would be at year end they have no clue at all what multiple the market will assign to it
these guys spout off over and over again how "cheap" stocks are as if there was never a time stocks fell to low single digit p/e's......please
and to be sure, I never thought they'd be able to find someone that knew less than the three stooges in the morning about markets but they've found their man in Andrew Ross Sorkin.....what a total clown this guy is
couple him with jeremey siegal this morning, it's an idiot hoagie.
also, apparently every single market participant in the world is about to allocate their capital based on whatever this job number is going to be
that's how it goes folks, data comes out, every single market participant gets the news at exactly the same time, they carefully go through all the data, double check it, compare to all historical levels, carefully assess the meaning of it all and allocate accordingly
bwahahahahahahaha..........NOT
ooooh, ooh, look, Diane Swank from Miserable Financial, this should be hilarious
she always "hope's she's wrong"
and she is about 99% of the time
Mark Zandi......lol
CrackieMac,
right, that flippin' Swonk y Zandi tag-team duo...
like, wtf?
do 'people', really, take those two "Seriously"?
and, like they're answering a Call, from Central Casting, those two, seemingly, are always 'trotted out' at "times like these" ...
"Farce", barely, begins to scratch the Surface of the *Reality..
2. A ludicrous, empty show; a mockery: The fixed election was a farce.
http://www.thefreedictionary.com/farce
also, you know, with the 'CrackieMac'-thing, just, funnin' ~
AAIP
oh yeah, the CrackieMac is funny.....no worries
and yes, these two are always here for the big jobs number, and they always do the same thing, whatever the last number was they extrapolate it
the expressions on the faces after each report is usually worth sitting through it all
meanwhile ARS continues to ask everyone "is it like Lehman, is it like Lehman"
because you know......read his stupid book
ARS is missing the "E"
dude is, total, Tool
"his" Book, and the Movie made 'from it'--to say nothing of his own presentation of himself--are all the Proof one would need to understand it..
AAIP
I probably wouldn't find ARS even half as annoying if he would let just one person complete a thought
it's not an interview when you just keep interrupting mid statement, every statement
it's more about.....it just turns into him talking and what is coming out is total nonsense
he doesn't even know how to look at futures/fair value and figure out where the open would be
shouldn't that be part of the deal if you are going to anchor in the morning, you have to actually know SOMETHING about the market.....
Yeah but...
If you squint your eyes real hard... Swonky kinda sorta has a MILF thing going...
& as for the rest of the 'Corvettes' on CNBC... Well - most would probably do a half decent job at washing your car...
http://www.youtube.com/watch?v=XiU3XkQziDk&feature=related
cv--
that's the only thing that allows Swonk to 'Porchmonkey' at the 'Big House'( the "In-Crowd" hang )..
that, and she, obviously, 'Swallows'--given the nonsense she re-(-iterates/-gurgitates)
ibid.
past that, cv--, I thought you were going 'Vakay' ?
Attractive mothers everywhere reject the notion that Diane Swonk could hang with us :-)
Labor force participation rate 63.9, change -0.2
Employment population ratio 58.1, change -0.1
Weekly hours 34.3, change 0
U6 16.1, change -0.1
B/D -18
@Jennifer
"Attractive mothers everywhere reject the notion that Diane Swonk could hang with us :-)'
Bwahahaha. I have to agree. I'd have to squint VERY hard to see it ....
And/or be really drunk.
Bullishness didn't even make it 30 minutes. ROR
TICK low reading -1222. Ouch.
no way...swank is not a MILF
I'm selling that
looks like the 50 sma wasn't having it this morning....no soup for you bulls
to be clear..
"swank is not a MILF"
x2
ibid.
from Ransquwak
08-05 10:17: Market talk that S&P may downgrade US after market close today
oh, well, surely that will stop everyone buying treasuries then, right Mohammed?
interest rates will most certainly go to the moon, I mean after all they were going to do that anyway once the Fed left the market
uh huh.......
past that, cv--, I thought you were going 'Vakay' ?
---
Vakay starts in 5...4...3...2...
1158 was once a crucial level
I can't wait for the bounce, I will short up to my eyes.....
"to be clear..
"swank is not a MILF"
---
To be CLEARER-ER... Swonk is not a MILF... But SWANK is...
http://img.wallpapermenu.com/hilary-swank-wallpapers_7909_1024x768.jpg
If you ask me...
At the moment, the most important thing in Clarence Beeks briefcase is not the crop report... Instead - it's the flight manifests & tower logs for KJAC...
Andy - you're coming to Chicago this weekend, right? Have a blast.
Todays SPX candle is not a reversal. But it's still early.
Hide the women and children. Lock the doors. Close the shades and stay quiet. Lock and load. This too shall pass. ROR.
McB,
check this ..
http://quotes.ino.com/chart/?s=NASDAQ_IPSU
9.79 -13.40 (-57.78%)
yo~!
AAIP
1168.03 is the 61.8% retrace. Market traded down to 1168.09. Guess the market remembers what happened yesterday with 1204.58 (50.0% retrace).
Major 18's 1174 breached then unbreached, may be short term bottom?
AAIP, re: IPSU
now back to looking for a job... grrr
20 handles in 20 minutes. A new world record.
-----------------------
Italy having more problems: http://www.zerohedge.com/news/it-just-got-worse-italian-treasury-just-announced-it-will-not-sell-3-month-bills-august-10-auct
ben22
TICK low today -1424. Wow.
YGBFKM...
AND, Boom Goes the Dynamite.
@AAIP
holy shit, I had not seen that re: IPSU
no joke and there are others here that can verify, I sold out of that several days ago for a nearly 25% profit
thats what they call just in time
the start was starting to look strange to me so i took it off telling a few clients that I'd look to get back in at some point....but not after that kind of move
I got lucky basically....
the H&S target hit exactly and we bounced....how bout that, it did play out
guys, just heard from a fairly reliable source within blackrock that the downgrade of the US IS going to happen after the close today
they have warned the people that calculate NAV on their funds that they will not use 3 pm pricing today but 4 pm and also warned that they may need to take a 5% across the board haircut on most funds as a result
stay tuned.....don't puke
we'll know if this is at all legit in not so many hours
ben22
I can almost guarantee that the MSM WILL NOT mention this development while the market is open.
just double checked my dates on IPSU
I bought on 7/6/11 and sold the last share I had or clients had on 8/3/11
lucky lucky
McB,
if I was their 'Broker', I'd send them that Chart of IPSU, just, 'so they know' .. ~
AAIP
these huge intraday swings
so 2008
love it....
cv--,
don't take this the 'wrong way', but why don't We hear about this..
http://finviz.com/quote.ashx?t=BAC
along with the SB Winners, Derby Champs, and Prom Queen picks?
ibid.
With everyone looking to short a bounce, will the bounce go higher than anyone expected, much like the fall?
OR will there even be a bounce that lasts more than 15 minutes?
Trailing stops. Love'em or hate'em at your peril.
alright
call the close, or upside projection on the bounce
likely not over, lots of volume surge on 5 min bars leading into this
there seems to be a mad dash to draw comparisons for tops to 2007 and bottoms from 08/09
heard both arguments several places today
maybe be careful with that
Tim Knight had an interesting note at SOH on Fib time sequences....3 months ago he projected today as a short term bottom.
Now the rumor about the downgrade is on CNBC -- seems like it can't be true.
Ra,
as of now I dont' think the chances are very good for it to happen but if we can close near the highs of the session there's another hammer that gets painted today....
WTF???
ben22
Sorry for the delay in me response. Blogger.com decided to get its panties in a bunch and owuldn't let me comment.
The SPX is now forming a bullish harami. We've seen how those have played out recently. We're 40 handles of the lows. It's hard on the bears. But each and every musing from the ECB or Fed doesn't last as long as the last one.
no doubt Ra, no doubt
ben22
re: todays close
Below 1204 keeps 1168 in the picture.
All this talk about the EURUSD rallying yet it's still below its weekly 3LB mid. Pffttt.
some Faber:
http://video.cnbc.com/gallery/?video=3000037396
though I have to totally disagree with one thing he says
we do not have an "endless" ability to print money
that's wrong imo
notice how an asswipe like Steve Liesman will make snide remarks to him to try and make him look crazy for the viewers
"oh look, just another end of the world guy"
of course, Faber has a documented track record
Liesman is just a clown
oh, btw
Swank and Zandi
I just watched their video reaction, to the jobs number, which revealed once again a near 100% error for both of them
it was so funny, as always
ben22
Faber to Liesman (think Chappelle show): "I'm rich b&*#h!!!"
haha
exactly
of course, I'm betting Liesman makes bank working there, telling Lies, making stupid comments
what a gig
starting fights with Santelli for the sake of starting fights with Santelli
Kernan $500k
Burnett $750k
Bartiromo $1M
You get the picture.
Damn round numbers. SPX trying to hold 1200.
Yada yada yada. when it's all said and done we'll be trending down on the weekly 3LB at the close.
Ra,
I think the hammer will draw out now into the close
but we'll have to wait until Monday to see if its real
which sucks, that feels far away at the moment
ben22
Looking more like a long legged doji. Since it didn't gap lower at the open its reversal implications are reduced. If it had gapped we would be looking at a morning star.
Wasn't it in 2008 when the SPX made a 20 handle move lower in the last five minutes?
yeah...it didnt' take off there like I thought it was about to
next week should be exciting
plenty for people to think about over the weekend
well guys, one more meeting for me today and I'm peacing out
everyone have a good weekend
remember
sip the frozen frou frou or risk the icee headache....
SPX failed to hold 1200 (the round number indicator). Expect shenanigans from the administration over the weekend. But that may get offset from an EU bank imploding.
I love the new meme from moronic liberals that they are subscribing to now
"its the tea parties fault"
hilarious
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