Morning Corner 10.11.11

DAX (weekly info)
-no change (below mid)
low= 5189.93
rev= 6236.16; mid= 5713.05

DAX held its 61.8% retrace for four weeks and has now broken above its 50.0% retrace. It's back testing its SMA(21). It's back above its weekly 3LB mid.

FT MIB (weekly info)
-no change (above mid)
low= 13664.91
rev= 15888.61; mid= 14776.76

Italy gets downgraded two notches and its market heads higher. It's now above its SMA(21). It's above its weekly 3LB mid (and testing its weekly 3LB reversal).

PSI (weekly info)
-no change (below mid)
direction=down (1 bar)
low= 5656.00
rev= 6361.00; mid= 6008.50

Portugal defended the 0.0% retrace and is now heading higher. It's still below all SMA's. This week its testing its weekly 3LB mid.


Anonymous said...

a 'refresher' never *hurts..~


Leftback said...

Paul spots a passing bandwagon and mounts the barricades!

Panic of the Plutocrats

Aux armes, citoyens !

AmenRa said...


"Abandon all hope ye who enter here."

Last weeks gains wiped out in one day. Rut roh!

AmenRa said...


Oligarchs trying to pull up the bridge over the moat.

Oligarch oath: I ______ promise and swear to uphold the Oligarch Status Quo to the best of my abilities. If I fail to do my sworn duty I will suffer the penalty of a loss of all wealth, a major scandal and Cell Block C (where I am the main course). So help me God.

Andy T said...

Netflix ... what a fuck up decision that was.

AmenRa said...

Is the Fed doing another reverse repo? I see yields heading higher. Is it that there are some parties who don't want to buy 10yr & 30yr bonds with yields under 2.00% & 3.00% respectively?

Anonymous said...


P/B 17.58

52W Range 107.31 - 304.79

and, still..

P/S 2.21



Andy T said...

How come nobody protests the rich guys in Silicon Valley?

Andy T said...

How come the protestors aren't protesting in D.C.?

It was DC that gave Wall Street the was Ben Bernanke and Co. that enabled a lot of this shit.

It's funny how the history of things gets skewed.

Anonymous said...

something tells me that will turn out to be a 'Textbook'-Case..that "'Synthetic Longs' have Limits" ..

10:00AM Sprint and IDEAL LIFE Address Rising Medical Costs and Enhance Access to Health Care with Wireless Health Monitoring Business Wire
10:00AM MediaTile and Sprint to Provide Interactive, Personal Customer Experience Through HumanKiosk Solution and 4G Technology Business Wire
09:49AM Tech Today: Sprint has the iPhone and a Thirst for Cash at The Wall Street Journal
09:47AM Sprint: FBR Makes Top Pick; Don't Mind The Funding Gap at


also, I find it *interesting that it takes a 'brush with De*th' to get Co.s to 'move off "dead-center"' (as above 'announcements' allude to..)

and, as with "Pick-Up" Trucks, coming more 'full-featured'--from the Factory--after Sales 'nose-dived'..


Leftback said...

I recommend buying some 10y and 30y this week. We have had a big move up in yields, but I don't see a 4-5% GDP on the horizon !

We will probably buy some bonds today or tomorrow. Partly this is a short-term hedge for our HYG position.

Not madly bearish like you lot but fairly cautious - as I think everyone should be after a silly low volume squeeze day.

AmenRa said...


Thought you would get a kick out of this:
Equity Traders Petition To Create More Bond Market Holidays

AmenRa said...
PrimeX - The Time For The Next "Subprime Trade" Has Come
PrimeX Update: It's On Like Donkey Kong
PrimeX Selling Accelerates

All this happened after Fitch released updated ratings on these deals.

Leftback said...


Risk dialed back this week from 70% to 55%.
Bonds excluding HY (10%) are now 27%.

The range trade lives, until it is killed.

Leftback said...

Just what the banks needed before earnings releases !
Ready for the AA pantomime? We are.....

AmenRa said...

Slovakia Rejects Plan To Expand EFSF, Government Falls

The EFSF implosion has begun...

AmenRa said...

...expect to see (not hear) black helicopters over the Slovakian Congress.

Anonymous said...

Bratislava, the 21stC. v. of "Bunker Hill"?

IOW, that's, _______, good News..


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