"S&P decides to finish its mission on sovereign debt."
Creditcane™: S&P is my protege.
SPXBullish short day. Midpoint above EMA(10). Tested and held SMA(144). Holding above the 38.2% retrace (1241.13). New high on daily 3LB (reversal is 1161.79). QE2infinity. Still above weekly 3LB mid and now the monthly 3LB mid.
DXYSpinning top day (didn't confirm morning star). Midpoint below EMA(10). Tested and held the 50.0% minor retrace (78.43). Holding above all SMA's. No daily 3LB changes (reversal is 78.28). Confirming the monthly 3LB reversal up.
VIXBullish short day. Midpoint below EMA(10). Tested and failed SMA(144). Tested and held its 61.8% retrace (26.16). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone has been eliminated (for now).
GOLDBearish long day. Midpoint above EMA(10). Holding above its 38.2% retrace (1716.70). Tested and failed SMA(21). No daily 3LB changes (reversal is 1643.50). Must have the precious.
EURUSDDoji day. Midpoint below EMA(10). Still failing all SMA's. Holding above its 100.0% retrace (1.3350). No daily 3LB changes (reversal is 1.3511).
JNKSpinning top day. Midpoint above EMA(10). Holding above SMA(89). Tested and failed its 50.0% retrace (38.24). New high on daily 3LB (reversal is 37.00).
10YR YIELDBearish short day. Tested and failed SMA(89). Midpoint above EMA(10). Tested and failed its 38.2% minor retrace (21.37). No daily 3LB changes (reversal is 19.39).
WTISpinning top day. Still above all SMA's. Midpoint above EMA(10). Tested and failed its 61.8% retrace (101.74). No dally 3LB changes (reversal is 96.92). Not confirming the monthly 3LB reversal down.
SILVERBearish long day. Still failing all SMA's. Midpoint above EMA(10). Holding above its 38.2% minor retrace (31.85). No daily 3LB changes (reversal is 36.65).
BKXBullish short day. Midpoint above EMA(10). Holding above SMA(89). Holding above its 61.8% minor retrace (38.43). No daily 3LB changes (reversal is 40.05).
HYG/LQDBearish long day. Holding above SMA(21,55,89). Midpoint above EMA(10). Tested and failed its 38.2% retrace (0.7808). No daily 3LB changes (reversal is 0.7466).
USDJPYBearish short day. Midpoint above EMA(10). Holding above SMA(21). Tested and failed its 50.0% minor retrace (77.785). No daily 3LB changes (reversal is 75.70).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
16 comments:
Could we get a worse Monday Night Football Game?
Jax/San Diego?
Blah.
Hate that....
We need our circus' bitchez...
Pundits are already talking down the S&P move.
"They're late to the party."
"This was already priced in."
etc.
Yet they deride Egan-Jones as not a major player. Egan-Jones has been doing credit ratings since 1995. They don't fall for the bs from the PR Dept.
Back to the pundits. What they failed to mention is that funding costs just jumped and they don't have the funds to deal with their current debt load. Damn pundits must like dropping the soap.
According to this Tony Manfred fellow, vegas is heavily exposed to Jax...
Public is all on San Diego.
I wonder what's going to happen?
ha ha
Ra,
normally I'd rip pundits as well and while I think the idea that things get "priced in" is total nonsense I can't disagree that S&P IS late to the party, every single chart already told us as much several months ago
Egan Jones doesn't determine the "correct" ratings anymore than S&P, thats the job of "the market" and the market has final say on this matter. Perhaps last year if I'd have said that people would have rolled their eyes, thats a little harder to disagree with today however, clearly. Bonds just move based on perception.....
I'd have thought this would have been more evident after S&P's "epic" downgrade of US debt... which has of course rallied ever since
these ratings agencies are, from where I'm sitting basically irrelevant at this time and more and more people like me push more and more money toward the PIMCO's and the DoubleLines of the world where they do all their own credit analysis because we do not care at all about S&P's opinion on things.
I get why everyone is raging about this right now, but if this makes sense.....at the same time, I "don't get it"
and no doubt AT, tonights game blows
nba, christmas day
bitches
http://www.youtube.com/watch?v=aODnXqy7YwU&feature=g-vrec
From BR's post on giving a speech today:
"I presented this afternoon to the National Association of State Treasurers. The room had all 50 State Treasurers, lots of Deputy and Asst Treasurers, and staff. Good crowd.
I took the podium around 1pm, with the Dow up nearly 200. By the time I finished, markets were nearly flat. The joke afterwards was that half way through my speech, all 50 Treasurers texted their home offices to hit the bid."
Yeah Barry. You hold so much swag that State Treasurers would immediately exit a room and execute orders.
If this dude's head gets any bigger, he won't be able to fit into that new Porsche, purchased on the back of his mgmt fees for offering mediocre returns while continually chasing momentum.
@Andy T
Manfred is a tool...
The skew is only 73-27... Moreover... The word is that Vegas is taking a dump on purpose this year to get all the sharps off their jock...
Jax blows... The owner wants to sell.. the team is probably moving... they just fired Jack del Rio (with less than a week to prepare)... Blaine Gabbert is a 'deer in the headlights' rookie... the just lost t their best defensive player Rashiem Mathis for the season & are otherwise banged up defensively (which is the only thing they can even ponder to have going for them)...
I'm on the Bolts...
I don't have to mention that VEGAS won yesterday with...
Indy, Arizona, Houston, Giants, & Miami all covering (plus Seattle on Thursday)...
If that hadn't happened, the line on this game WOULD NOT have moved from 1.5 to 3... Walt Anderson is the ref here so I'm skeptical of any Jax 'assistance' from the zebras...
BOLTS bitchez... (but you should have locked it in earlier in the week)...
yes, with so much 'What happened to Philip Rivers'-squawk to be heard..
I wouldn't be surprised if dude throws for 430+ and 4+ TDs..
Go get'em 'Bolts~
AAIP
Chargers for sure, no doubt.
Ryan Mathews is gonna kill it, plus they have all their big dogs back in the lineup.
And they've also lost what, 6 games in a row since the bye week? These guys are due for a win...
Go Raiders! Yeah! Wooooo
oh......wrong room
3mth vs Overnite Libor Spread is widening again...
I'm watching the top 10 pass rushers more than the game.
Think I just saw a classified ad from the Jacksonville jaguars....
They're looking for DBs....
Geezo.
From the previous thread in re: music.
I actually LIKED the Africa song from Toto back when I lived in the 80s....and was in middle school at the roller rink with this girl I was going "steady" with...her name was Tonia....she seemed great to me.
The guys from Toto are fine musicians and produced a lot of decent work, but that song has not aged well. I think he picked that song a part BECAUSE it was so successful at that time, but when you listen to it now....it really does suck.
And now when I look at that 8th grade picture of Tonia....to be honest...not sure what I was thinking.
So it goes....
Images in the rear view mirror look much different than when they were in front of you.
Andy T
quote:
"Images in the rear view mirror look much different than when they were in front of you."
The same can be said of images when the lights come on at the bar after a heavy night of drinking...
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