Tuesday, October 11, 2011

Morning Corner 10.11.11

DAX (weekly info)
-no change (below mid)
trend=down
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)
trend=down
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)
trend=no
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.
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18 comments:

  1. AnonymousOctober 11, 2011 at 9:05 AM

    http://www.businessballs.com/maslow.htm

    a 'refresher' never *hurts..~

    AAIP

    ReplyDelete
  2. LeftbackOctober 11, 2011 at 10:43 AM

    Paul spots a passing bandwagon and mounts the barricades!

    Panic of the Plutocrats

    Aux armes, citoyens !

    ReplyDelete
  3. AmenRaOctober 11, 2011 at 11:42 AM

    NFLX

    "Abandon all hope ye who enter here."

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

    ReplyDelete
  4. AmenRaOctober 11, 2011 at 11:53 AM

    LB

    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.

    ReplyDelete
  5. Andy TOctober 11, 2011 at 12:21 PM

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

    ReplyDelete
  6. AmenRaOctober 11, 2011 at 12:49 PM

    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?

    ReplyDelete
  7. AnonymousOctober 11, 2011 at 1:03 PM

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

    ~106.47

    P/B 17.58

    52W Range 107.31 - 304.79

    and, still..

    P/S 2.21

    younds~

    AAIP

    ReplyDelete
  8. Andy TOctober 11, 2011 at 1:26 PM

    How come nobody protests the rich guys in Silicon Valley?

    ReplyDelete
  9. Andy TOctober 11, 2011 at 1:29 PM

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

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

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

    ReplyDelete
  10. AnonymousOctober 11, 2011 at 1:48 PM

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

    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 Barrons.com

    ~~

    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'..

    AAIP

    ReplyDelete
  11. LeftbackOctober 11, 2011 at 2:51 PM

    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.

    ReplyDelete
  12. AmenRaOctober 11, 2011 at 3:34 PM

    LB

    Thought you would get a kick out of this: http://www.zerohedge.com/news/equity-traders-petition-create-more-bond-market-holidays
    Equity Traders Petition To Create More Bond Market Holidays

    ReplyDelete
  13. AmenRaOctober 11, 2011 at 3:51 PM

    http://www.zerohedge.com/news/primex-time-next-subprime-trade-has-come
    PrimeX - The Time For The Next "Subprime Trade" Has Come

    http://www.zerohedge.com/news/primex-update-its-donkey-kong
    PrimeX Update: It's On Like Donkey Kong

    http://www.zerohedge.com/news/primex-selling-accelerates
    PrimeX Selling Accelerates

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

    ReplyDelete
  14. LeftbackOctober 11, 2011 at 3:51 PM

    ROR.....!

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

    The range trade lives, until it is killed.

    ReplyDelete
  15. LeftbackOctober 11, 2011 at 3:53 PM

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

    ReplyDelete
  16. AmenRaOctober 11, 2011 at 4:17 PM

    Slovakia Rejects Plan To Expand EFSF, Government Falls

    The EFSF implosion has begun...

    ReplyDelete
  17. AmenRaOctober 11, 2011 at 4:18 PM

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

    ReplyDelete
  18. AnonymousOctober 11, 2011 at 5:02 PM

    http://finance.yahoo.com/news/Slovakia-rejects-expanded-apf-1181339657.html?x=0

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

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

    ibid.

    ReplyDelete