Morning Corner

LUMBER (weekly info)
-no change (below mid)
low= 211.10
rev= 257.10; mid= 234.10

Lumber is not able to move higher. Home builders are probably going crazy. It's below all SMA's. It's having problems getting above the mid of the long bearish weekly candle. The weekly chart was forming a falling three method but this week has eliminated that idea. Note that the last few weeks have made higher lows.

2s30s Spread (weekly info)
-no change (above mid)
low= 2.67
rev= 3.21; mid= 2.94

The 2-30 spread was starting to give the banks hope but last weeks hanging man may have dashed them. Unfortunately this week is confirming the hanging man. It also couldn't hold its 50.0% retrace. It's still below most of the SMA's.


ben22 said...

"Who buys the stock market at 1256, right into the 61.8 retrace.....seriously....who are these donkeys?"

Well, AT, I'm sure you've heard "fibo doesn't work" so you know, those guys.

Perhaps they were looking at the historical p/e instead........I mean, why base any of your moves on the the market itself when you could base it on a projection instead!

Anonymous said...

re: Lumber

the traded Contract is, hardly, "Old Oak", yes?

with that, 'it's a different Market'..

personally, if I were looking to Sell such, I'd be advertising in Mandarin, on Mainland PROC...if not to 'the Japanese'..

or, differently, depending on 'Seller's Motivation', the Land could be 'wrapped in a Trust', managed as a Timber Resource, and have it spin-off 'Tax Advantaged'-Earnings/Income..

200 Acres may be 'worth the 'Paperwork' involved..


BinT said...

Thanks, Amen...

Lumber is one of those things what will wait on the market..unlike cows or cotton.

Appreciate it.

Andy T said...

Anyone else get annoyed by Michaal Moore....

The guy doesn't really comes to grip with the fact that he's done well in this country BECAUSE of the "capitalist" system....

Andy T said...

MFGlobal looking real solid....

Shocker that Corzine couldn't work his New Jersey/Goldman Sachs magic over there.

Andy T said...

Even the top .1% can have rough times....

Check out this sob story. ha.

cv said...

The guy doesn't really comes to grip with the fact that he's done well in this country BECAUSE of the "capitalist" system...


not to mention BECAUSE of Fatburger, Kentucky Fried, & Krispy Kreme Donuts...

Christina Romer said...



ben22 said...

Michael Moore

another blabbering douche

sort of funny that his first reaction is to deny he is part of the 1%.

but I was more amused by Russell Brand helping to occupy wall st, I'm sure most of those people in the parks can really identify with Brand, he lives a life like most of the 99% surely....

ben22 said...

then again, plenty of bigger douche bags in Hollywood besides Moore

like Matt Damon

AmenRa said...

Andy T

"Because I can."
Butler glut of 2010

but this did me in:

...shows off the future bowling alley, indoor relaxing pools, five kitchens, 23 bathrooms, 13 bedrooms, two elevators, two movie theaters (one for kids and one for adults, each modeled after a French opera theater), 20-car garage and wine cellar built for 20,000 bottles.

Andy T said...



When you decide to build a 90,000 palace backed by a leveraged business model....

you sort of deserve what you get.

ben22 said...

Michael Moore:

I really enjoy how he walks out of his house looking like a shlub complete with the Michigan state cap (always a crisp one though eh) to help "prove" he's like the little guy but as I'm to understand it he lives in a million dollar in NYC and has a million dollar beach pad in Michigan

the guy is out charging 25, 30, 50k to speak at a college yet supports those on OWS that want "free college for everyone"

I could go on

but the conflict should have been obvious when a 400lb guy that has probably never played a sport in his life, probably never even jogged (thats right ladies, not muscles under there) starts warning us all about the dangers of overconsumption and excess.....

Anonymous said...

that puppy is not 'looking Strong' ..


26-Oct-11 02:34PM UPDATE 1-S&P may cut MF Global rating to junk at Reuters -24.46%
02:17PM Bove: Goldman May Get Windfall If It Buys MF at Bloomberg
01:40PM Goldman Sachs May Make Windfall Profit If It Buys MF Global, Bove Says at Bloomberg
01:12PM [$$] MF Global Weighs Strategic Options at The Wall Street Journal
12:20PM The Jon Corzine Disaster at Forbes
12:15PM [$$] MF Global Weighs Strategic Options at The Wall Street Journal
11:40AM [$$] MF Global Weighs Strategic Options at The Wall Street Journal
11:35AM So Much For Orderly Default In Greece, New Haircuts Likely To Trigger CDS at Forbes
11:32AM Largest option buying in equities so far optionMONSTER
11:21AM [$$] MF Global Weighs Strategic Options at The Wall Street Journal
11:17AM Corzine's New MF Global Plan: Stock Slide, Fire Sale at TheStreet
11:05AM Jon Corzine's $12.1 Million Soft Landing at The Wall Street Journal
11:02AM MF Global Drops Another 40%; Broker Hires EVR; Corzine Gone? at
10:49AM MF Global Is Said to Explore Options, Including Potential Sale at Bloomberg
10:49AM MF Global Is Said to Explore Options With Evercores Help as Shares Plunge at Bloomberg
10:46AM Corzine's MF Global to Explore Possible Sale at The Wall Street Journal


AmenRa said...

here is Reuters with a summary on what to expect from the complete summit statement, still to be released:

The euro zone aims to leverage its 440 billion euro bailout fund, the EFSF, "several fold" but finance ministers will only agree the details of how that will be done in November, according to a draft statement to be issued after a summit on Wednesday.

The statement, obtained by Reuters, says two options are being considered to leverage the fund, one involving it issuing risk insurance and the other built around it taking part in a special purpose investment vehicle. Both models could be deployed simultaneously, the draft statement said.

The Eurogroup of finance ministers will be asked to finalize the terms and conditions for how the EFSF will operate under the leverage schemes in November, the statement said.

In addition, it said the EFSF's resources could be further enhanced, possibly via cooperation with the International Monetary Fund.

The draft statement also called on Spain to do more to bring its budget into line, while praising it for the steps taken so far. A paragraph on Italy, which is under pressure to do more on pension and other reforms, was left blank but is expected to be added later.

Another day of Talking Loud and Saying Nothing. And then they have the nerve to push the actual start date to November. GTFOOH

Post a Comment


This blog should not be interpreted as investment advice of any kind. The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind. The authors may or may not trade in the markets discussed. The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.