A place where a skillful caddy always offers cool contemplation when it comes to your "stick" selection.
Creditcane™: Hey ref. He was not on the ropes. You should've let me finish him.
SPXSpinning top day. Midpoint below EMA(10). Failing all SMA's. Tested and failed the 61.8% retrace (1168.03). No daily 3LB changes (reversal is 1254.05). QE2infinity. Still below the daily and weekly mids. Three daily lower highs and lower lows.
DXYBearish short day. Midpoint above EMA(10). Failing the 61.8% minor retrace (78.16). Still above all SMA's. No daily 3LB changes (reversal is 77.19). Still above the monthly 3LB reversal price.
VIXBullish short day. Midpoint above EMA(10). Above all SMA's. Failing its 0.0% retrace (45.40). Tested and failed its 50.0% minor retrace (39.46). No daily 3LB changes (reversal is 25.25). Captured and again escaped the "extreme fear" zone.
GOLDSpinning top day. Midpoint below EMA(10). Tested and held its 61.8% retrace (1588.60). Tested and held SMA(144). No daily 3LB changes (reversal is 1757.30). Must have the precious.
EURUSDBullish short day. Midpoint below EMA(10). Still below all SMA's. Tested and failed its 50.0% minor retrace (1.3598). No daily 3LB changes (reversal is 1.3644).
JNKBearish short day. Midpoint below EMA(10). Failing all SMA's. Tested and failed its 38.2% minor retrace (37.01). No daily 3LB changes (reversal is 39.59).
10YR YIELDBearish short day. Tested and failed SMA(21). Midpoint above EMA(10). Holding above its 0.0% retrace (18.96). No daily 3LB changes (reversal is 17.15).
WTIBullish piercing day. Failing all SMA's. Midpoint below EMA(10). Holding above its 0.0% retrace (80.51). No dally 3LB changes (reversal is 92.27). Above monthly 3LB rev but below weekly 3LB mid.
SILVERBullish thrusting day. Failing all SMA's. Midpoint below EMA(10). Tested and failed its 50.0% minor retrace (30.76). No daily 3LB changes (reversal is 42.49).
BKXBullish long day (didn't confirm evening star). Midpoint below EMA(10). Failing all SMA's. Holding above its 0.0% retrace (35.39). No daily 3LB changes (reversal is 34.45).
HYG/LQDBullish piercing day. Failing all SMA's. Midpoint below EMA(10). No test of its 0.0% retrace (0.7375). Tested and held its 50.0% minor retrace (0.7592). No daily 3LB changes (reversal is 0.7910).
USDJPYBullish short day. Midpoint below EMA(10). Failing all SMA's. Tested and held its 38.2% retrace (76.561). No daily 3LB changes (reversal is 77.54).
2s30s SpreadBearish long day. Midpoint below EMA(10). Still below all SMA's. Failing (tremendously) its 100.0% retrace (3.04). No daily 3LB changes (reversal is 3.04).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
6 comments:
""The S&P 500 will trade sub 1000 sometime in the next several months.""
yeeup, been amassing a pile of SDS calls Oct, mainly Nov tho, for some time now. not into margin funds yet but if these mini run-ups keep happening, might have to.
http://www.financialsense.com/contributors/pater-tenebrarum/2011/09/29/stupidity-may-have-limits-but-it-has-no-boundary
He states that the EU financial transaction tax will be a failure. Sweden tried it before and the trading ran to London. Plus the tax rate will not stay at 0.1% when they realize the money isn't coming in because the financial institutions will move to other countries with a better deal.
I like the Houston cougars tonight giving 15.5 points.
I think that a lot of desks on the Street are STILL getting killed. These "risk on" days in the equity markets might feel good and make headlines, but the fixed income markets are shaken, hard.
I realize that what I'm saying doesn't seem to make sense, given the rally in rates, but the types of positions that are being taken are generally very defensive and liquidity in credit is just not indicating risk on.
I think it is a lot worse than what leaks to the tv personalities. Maybe it's just my relative immaturity in the fixed income space, but I feel like the dealers are sounding more desperate every day.
I heard our director of fixed income trading say, as he walked through the desk, "I wonder how much demand there will be for fixed income managers when the 10 year hits 1 percent."
If this keeps up too long, you will want to invest in a hard-hat if you are walking through Manhattan.
Matthew
"If this keeps up too long, you will want to invest in a hard-hat if you are walking through Manhattan."
Would a portable trampoline be better?
I always get of how CNBC & Bloomberg show DJ futures instead of YM (Dow mini). There is almost always a discrepancy. Currently DJ is -11 but YM is -71.
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