Monday, October 10, 2011

Morning Corner 10.10.11

ES (daily info)
-no change (above mid)
trend=down
low= 1086.25
rev= 1193.00; mid= 1142.13


ES is back above the 61.8% retrace and the SMA(21). It's still below the weekly 3LB mid.



DXY (weekly info)
new high 78.73
trend=up
high= 78.73
rev= 77.19; mid= 77.96


DXY still trying to breach its 38.2% retrace. It's also trying to hold the trend line. Last week made another high but the candle was a spinning top so no direction is apparent.



GOLD (weekly info)
-no change (below mid)
trend=no
direction=down (2 bars)
low= 1622.30
rev= 1876.90; mid= 1749.60

Gold is treading water at its monthly 3LB mid. It did make a higher low and high than the previous week. It never tested its SMA(55). Not dead yet.
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21 comments:

  1. spoonmanOctober 10, 2011 at 9:48 AM

    Hope you had a good birthday Andy. Happy 40.

    ReplyDelete
  2. AmenRaOctober 10, 2011 at 10:20 AM

    So the plan for a plan of a plan (that has yet to be planned) to help EU banks is behind this move?

    ReplyDelete
  3. AmenRaOctober 10, 2011 at 12:53 PM

    Hmmm. I think I see what happened. There were not enough shorts at the break of 1120 so they pushed the market down to 1075 to see if they would bite. And bite they did. A $100 move use to take weeks/months. Now it's done in four days.

    ReplyDelete
  4. LeftbackOctober 10, 2011 at 1:00 PM

    Bond markets are closed today, so this is all b.s. to my eyes.

    Eurofollies back in full swing. Macro Man manages to take the piss out of them every day without repeating themselves, which is amazing....

    Broadly bullish but short-term cautious...

    ReplyDelete
  5. AmenRaOctober 10, 2011 at 1:13 PM

    http://www.youtube.com/watch?v=m72AVUKiLwk
    Plastico - Ruben Blades & Willie Colon (Bugz in the Attic remix)

    ReplyDelete
  6. Andy TOctober 10, 2011 at 2:44 PM

    What a market...sp500....

    ReplyDelete
  7. AmenRaOctober 10, 2011 at 3:17 PM

    Ok algos. The bond market is about to wake up soon. Better get those numbers back to reasonable levels or your hand will be forced.

    A moment of silence for:
    Dexia
    Greek Proton Bank
    Danish Max Bank

    ReplyDelete
  8. AnonymousOctober 10, 2011 at 3:37 PM

    http://www.finviz.com/quote.ashx?t=S

    Caution: "Dumb Trade o' the Day (potentially)"

    short the Oct 2.50 Puts, net ~0.44+

    Should make the next ~10 Trading Days, a little more ~interesting..

    ~
    AAIP

    ReplyDelete
  9. LeftbackOctober 10, 2011 at 3:39 PM

    Another one for you, Austria's Erste Bank:

    http://www.bloomberg.com/news/2011-10-10/erste-to-keep-state-capital-as-writedowns-cause-net-loss.html

    ReplyDelete
  10. MelOctober 10, 2011 at 3:54 PM

    Amen Ra

    Sarc aside:-)...nice grooves...

    OT...but you might dig this...I was dancing around to it this morning...Tata Vega

    http://www.youtube.com/watch?v=emBDrNMRJ-c

    As for Nola... the Treme theme song (with the exception of some wonky tempo in the chorus)...combines nicely with the Northern Exposure theme...if you're into mixes.

    http://www.youtube.com/watch?v=1M1Iagf3GSs

    http://www.youtube.com/watch?v=5-w-inT91AI

    ReplyDelete
  11. AmenRaOctober 10, 2011 at 3:57 PM

    Mel

    Ha! That was in a mix I was listening to last week.

    ReplyDelete
  12. AmenRaOctober 10, 2011 at 3:58 PM

    WTF just happened? Was that a "1200 or Bust" move?

    ReplyDelete
  13. AmenRaOctober 10, 2011 at 4:11 PM

    The bad thing for bulls is that they are near the top of the current trading range (aprox 1120-1220).

    ReplyDelete
  14. Cold SteelOctober 10, 2011 at 4:16 PM

    That's the move where shorts come in at 3.45 and then get their asses burned and have their stops run before the close.

    We love that move.

    ReplyDelete
  15. LeftbackOctober 10, 2011 at 4:17 PM

    Happy to go home with a little less risk on than I had this morning.

    ReplyDelete
  16. AnonymousOctober 10, 2011 at 4:18 PM

    +3.4%, well, that there is a squeeze.

    ReplyDelete
  17. MelOctober 10, 2011 at 4:23 PM

    Ra

    Okay, okay...this could go on forever...but one more... I was messing with this a while back...

    Up the tempo on My Girl by the Temps a little bit...cut out a few loops...and drop them into Flowers by the Emotions..

    http://www.youtube.com/watch?v=4P1x7Yy9CXI

    http://www.youtube.com/watch?v=Lch3gGZ6kaY

    ReplyDelete
  18. AmenRaOctober 10, 2011 at 4:34 PM

    Mel

    I haven't heard that Emotions song in a minute. Nice.

    ReplyDelete
  19. AmenRaOctober 10, 2011 at 4:38 PM

    Mel

    With todays technology you can change the key on "My Girl" to match "Flowers".

    ReplyDelete
  20. MelOctober 10, 2011 at 5:06 PM

    Ra

    Yeah...no kidding...just plugging a keyboard into Garageband could suck up the next year before you knew what happened.

    ReplyDelete
  21. AmenRaOctober 10, 2011 at 6:04 PM

    Mel

    I know. I know. :-)

    ReplyDelete