Morning Corner 10.27.11

30 Yr Bond (weekly info)
-no change (below mid)
trend=no
direction=down (1 bar)
low= 138.031
rev= 144.719; mid= 141.375

The long bond is showing weakness. It's trying to hold the SMA(13). It's failing to get above the midpoint of the long bearish candle from a couple of weeks ago. Operation Twist is about to get twisted.



AUDJPY (weekly info)
-no change (above mid)
trend=no
direction=up (1 bar)
high= 0.7915
rev= 0.7376; mid= 0.7646

The AUDJPY is trying to hold its SMA(21), monthly 3LB mid and 50.0% retrace. It appears some traders are believing the BS coming out of the EU Summit.This weeks candle is bullish but small indicating there's no confidence in the move. We'll see.



All MSM reporting on the EU Summit should listen to this before putting out a story:

30 comments:

Anonymous said...

"Public Enemy" is underloved..
~~

Oil prices jumped to above $92 a barrel Thursday after European leaders agreed on a plan to reduce Greece's debt burden.

By early afternoon in Europe, benchmark crude for December delivery was up $2.19 at $92.39 a barrel in electronic trading on the New York Mercantile Exchange.

The contract had fallen $2.97, or 3.2 percent, to settle at $90.20 in New York on Wednesday.

In London, Brent crude was up $1.93 at $110.84 a barrel on the ICE Futures exchange.

EU President Herman Van Rompuy said early Thursday that policymakers struck a deal that will reduce Greece's debt to 120 percent of its GDP in 2020. The plan calls on banks to accept 50 percent losses on their Greek bonds.

Van Rompuy also said nations that use the euro common currency and the International Monetary Fund will give Greece another euro100 billion ($140 billion).

Investors cheered the accord as a first step toward containing Europe's sovereign debt crisis. The Dow Jones industrial average gained 1.4 percent on Wednesday, and stock markets in Asia and Europe rose Thursday.

"This could be a turning point for the eurozone debt crisis," said Victor Shum, an analyst with energy consultancy Purvin & Gertz in Singapore. "It's a significant development that private investors have agreed to take a 50 percent haircut on Greece."

Crude has jumped over 20 percent from $75 on Oct. 4 amid growing investor optimism that the U.S. economy will avoid a recession this year. Shum said he expects oil to trade near $100 by the end of the year.

The debt agreement also helped boost crude prices by strengthening the euro against the dollar. A weaker dollar makes oil less expensive for investors using other currencies.

The euro was up at $1.4029 from $1.3908 late Wednesday in New York, while the dollar fell to 75.86 yen from 76.20 yen.

Others were less convinced by the long-term sustainability of the EU debt deal.

"The outlook for Greece remains dreary ... and the high risk that other European countries like Italy will run into greater troubles is likely to keep investment sentiment muted," said a report from JBC Energy in Vienna.

In other Nymex trading, heating oil rose 2.8 cents to $3.05 per gallon and gasoline futures gained 3.9 cents at $2.66 a gallon. Natural gas fell 1.0 cents at $3.58 per 1,000 cubic feet.
http://news.ino.com/headlines/?newsid=68981757547402

AAIP

ben22 said...

I guess then Corzine is a failing upward kind of guy
over, and over again
but hey, MF globals tops economist was on CNBC just now....they probably booked that over a year ago right?

Andy T said...

S&P500 roofer....

All is well. I'm sure Greece will be good to pay all their debts off now....

BinT said...

I see the debt/gdp ratio for Greece in 12 months down to .02!!

I do seem to have some odd coloration in my glasses.......

AmenRa said...

Perfectly timed for the EOM ramp job.

ben22 said...

we'll do a retrace by t-giving, imo

might be a decent time to sell some covered calls (Nov)

AmenRa said...

The question is who has the biggest pair? The financial markets or the politicians?

cv said...

I always liked 'this' HYPE...

http://www.youtube.com/watch?v=F7TDRZALfgE

cv said...

It's got a groovy beat... & I can 'bug out' to it...

ben22 said...

"The question is who has the biggest pair? The financial markets or the politicians?"



going with markets on this one....easy.

cv said...

...anyway, just more 'stall' tactics...

Germany will eventually leave the Eurozone (but we need filler entertainment from here to there)...

cv said...

All you really need to know for that time after countries decide to 'go it alone' (& trade dissolves)...

http://www.ehow.com/how_8380282_make-aged-potato-vodka-bucket.html

I'll search for the link that shows you how to converty your JET PACK into a 'distiller'...

cv said...

On the subject of "who has the bigger pair"...

---

Ostensibly, that question is relevant to the nominated parties...

As for how it effects ME in a practical sense...

Well - it reminds me of that scene in the movie 'Rudy' (where Rudy is in a church pew praying that he's 'done enough' to warrant admission into Notre Dame)...

Father Cavanaugh walks up to Rudy and Rudy asks him "Have I done enough"?

Father Cavanaugh answers:

"Son - I've come across only two incontrovertable facts in my 30 years of religious study...

1. That there IS a God

2. I'm not HIM"


---

Substitute 'financial elite' for GOD in this case... Then go out and make a a few trades to show how much more clever you are... How... YOU KNOW... You can beat them at their own game...

Hurry! Do it fast! Before they change the rules on you!

cv said...

Here's what the 'deep thinking' liberals in Maryland have up their sleeve today...

http://www.nbcwashington.com/news/local/Maryland-Considering-Flush-Fee-Hike-132664323.html

cv said...

We've now become Italy...

http://www.washingtonsblog.com/2011/10/occupy-wall-street-launching-first-nationwide-general-strike-in-america-since-1946.html

cv said...

Hey, but I'll probably be laying points with Penn State this weekend...

So it's all good...

BIG BROTHER said...

Smile - you're on Candid Camera...

http://www.infowars.com/new-street-lights-to-have-homeland-security-applications/

Andy T said...

Maryland politicians....

It's funny all the stupid shit local politicians waste their time with....

Anonymous said...

Endocrine Disruption

http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus-ns-aaf&v%3Aproject=clusty&query=Endocrine+Disruptors+lead+to+ED

http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus-ns-aaf&v%3Aproject=clusty&query=Endocrine+Disruptors+lead+to+Erectile+Dysfunction

funny, sometimes not really, what you 'come across' when doing a little 'Water-realated'-Research..

AAIP

Anonymous said...

NY Gold 1749.0 +25.5 +1.48
NY Silver 35.255 +1.945 +5.82
Emini S&P 1282.25 +44.75 +3.61
Emini Nasdaq 2404.75 +78.25 +3.36
Emini Dow 12163 +361 +3.06

US Dollar
74.753
-1.493 -1.92%

CRB Index
324.75
+8.61 +2.39%

"nice 'Rally'"

http://www.ino.com/

ibid.

Anonymous said...

http://www.finviz.com/quote.ashx?t=AZO&ty=c&ta=1&p=d

~331.07

still, 'not looking 'Strong''..

ibid.

AmenRa said...

Geezus. Combine EOM and an EU rumor of problem solved and you get the bears day from hell.

ben22 said...

you and me this weekend CV

look out, grandma's on a streak of 1

I'm bringing the heavy walker this week.

ben22 said...

Dream the dreams of other men, you will be noones rival

- E. Vedder

cv said...

@ben

Heavy Walker bitchez!

I was thinking you could call on Marv Hubbard to fill in your dilapidated RB vacancy...

http://i.cdn.turner.com/sivault/multimedia/photo_gallery/1007/nfl.1975.season.rare.photos/images/hubbard-biletnikoff-stabler.jpg

http://i.cdn.turner.com/sivault/si_online/covers/images/1973/1217_large.jpg

Those were the dayz bitchez!

cv said...

Gotta love a dude hailing from 'Colgate'...

AmenRa said...

new thread

cv said...

BTW...

I haven't had time this week (not even to publish on my own blog)... "picks" for the Tue-Wed-& tonights NCAA games...

The Troy-FIU game was classic ("no pick" for me because it was flying directly in the face of the HOUSE)... The HOUSE won...

Last night I started to publish a recommendation on Pitt (in which they DID, in fact, cover), but the power went out)... Actually tho... I'm glad I wasn't on that game... I would have been crapping my pants when Ray Graham went down... That's a horribly bad loss for Pitt & I hope Ray Graham gets better...

I actually think he's better than either LeSean McCoy or Ray Rice (to put it into perspective)...

Tonight there's Virginia & "The U"... Plus Houston - Rice...

I gotta give kudos to the Houston Cougars here... The public is riding them to the tune of 82% so that keeps me OFF the game (but I like the team)...

Vegas can 'afford' them to cover, so the natural inclination would be to take Virginia at 33% vs. the Hurricanes...

The Wahoos did a job on what I've said for weeks now is an overrated Georgia Tech squad (go back & read the comments on my blog all season if you don't believe me)...

But I think Miami is also starting to come around so I can't really deny them in this spot...

If Vegas were in a hole right here, I'd either take the Rice Owls or Virginia...

But it's an altogether OFF night 4 me...

cv said...

Also...

This weekend, the Ohio State Buckeyes are going to be sporting the "Mighty Morphin Power Rangers" outfits as they host the Wisconsin Badgers...

All I can say is...

The Mighty Morphin Power Rangers outfits DID NOT work too well for the Georgia Bulldogs vs. the Boise State Broncos (who came out with the IMPERIAL STORMTROOPERS look) in week 1...

I think I'll be fading "BUCKY" (the Buckeye)... Which may or may NOT have any socioeconomic ramifications for you horsetraders...

cv said...

If your data crunching pallette requires a more solidified & less esoteric data base for comprehension...

IOW - the 'anti Johnny GUT FEEL synthesis'... Try this on for size...

Lee Corso, Kirk Herbstreit & Co... Will be in Los Angeles this weekend for COLLEGE GAMEDAY (doing the USC - Stanford pregame)...

It will be Lee Corso's 200th "headgear" game (a tradition which started by improvisation in 1996 at a Penn State - Ohio State matchup)...

In all this time, Corso has donned various headgear... One thing reamins constant... He has picked USC 15 times & has never lost (these are SU picks, not ATS which we all know is illegal except for certain areas)...

Anyway... My advice is to FADE any Lee Corso pick (for obvious reasons)...

HYPE

So if Corso dons the Trojan gear, jump all over Stanford... If he "makes like a TREE", take the Trojans in the upset for the curse of Halloween...

My GIFT to you all...

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