Bad Economy Threatening the Bread and Circuses of Professional Sports One of the biggest diversions the establishment uses to keep people from looking at the real problems plaguing this nation is bread and circuses. Rome used the gladiators in the Coliseums as a way to keep people in a stupor. I have to admit, I do watch the NFL and NASCAR. My two-hour diversion a week to rest after fighting the New World Order the other six days. The other six days exposing the evil. Having this kind of diversion once, a week keeps me sane.
Seeing the economy in a downward spiral, disposable income is scarce. An economic collapse on the horizon is on many people’s minds. Right now with the Federal Reserve printing money to bail out the banks in Europe and the United States. With every dollar printed with no gold or silver to back up the value of the currency. Inflation robs the people's earnings and savings by devaluing the currency printing of dollars to prop up the oligarchs. As a result, it cost more to by fuel for the cars, food, utilities and other living expenses. People do not have the disposable income anymore for leisure and pleasure anymore.
Reading on the web, many professional sports leagues are feeling the squeeze of the economy. People are cutting back because they have no job and fear losing their jobs. The NFL and MLB are feeling it with a drop in attendance. NASCAR is feeling the hit from a bad economy. Racecar drivers are having a hard time getting corporate sponsorship. They have seen a drop in attendance too. There has been a decline across the board in all sporting events because the ailing economy. .."
It appears someone is desperate to push futures higher. I haven't heard any news good or bad. The G8 Summit didn't accomplish anything (except for more promises). Mu guess is that futures will close to flat or lower by the open.
I'd probably sell the idea that there are no more traditional head and shoulders patterns. We just had a textbook H&S play out in the S&P 500 last year, the August decline was the breaking of the neckline.
This year if you want an example of a traditional right now look no further than the IWM:
http://tinypic.com/r/2dax4xf/6
As I had mentioned on here before a good way to test the validity of the H&S you are looking at is to use OBV (On Balance Volume), which I placed in the IWM chart above, so its obvious why I use that if I think I see an H&S.
Also, its not entirely controversial to see slanted necklines, those are even discussed in detail in the classic Edwards and Magee technical analysis book. they are much harder though, in my opinion, and more often than not a slanted neckline is a warning that perhaps a more complex triangle is taking shape.....though I don't disagree on the dollar view, I'd call it the same right now.
I don't view todays candle as a reversal since it didn't open lower and close higher (so far). Possible short squeeze or profit taking. Or a move to save FB.
It looks like the move higher is NOT a short squeeze. Just death by a thousand cuts to the bears. I figure I would have seen larger moves in the crosses but I haven't. Even 10yr closed well of its highs.
"We hang the petty thieves and appoint the great ones to public office." -- Aesop (c. 550 B.C.) legendary Greek fabulist http://quotes.liberty-tree.ca/quote_blog/Aesop.Quote.28C2
"The history of totalitarian regimes is reflected in the evolution and perfection of the instruments of terror and more especially the police." -- Carl J. Friedrich Source: The Pathology of Politics, 1972 http://quotes.liberty-tree.ca/quote_blog/Carl.Friedrich.Quote.400A
"If Americans wish to preserve a country they will recognize, then the first step is to recognize the enemy. Public education is the enemy. The entertainment industry is the enemy. The corporate culture is the enemy. The advertising industry is the enemy. And most of the politicians in both parties are the enemy. An enemy is defined as anybody, or any organization, which is attacking the traditional beliefs of Americans." -- Charley Reese Columnist http://quotes.liberty-tree.ca/quote_blog/Charley.Reese.Quote.72D3
Highlights The steady sell off in the stock market mirrors a pullback underway in retail sales, according to ICSC-Goldman whose same-store sales index, at minus 1.7 percent in the May 19 week, is down for a fourth week in a row. The year-on-year rate is down seven tenths to plus 3.8 percent. The report notes little positive effect from favorable weather or from lower gas prices.
Joe Saluzzi continues to embarass himself each time he writes on Barry's, and he tells lots of lies about HFT, primarily because they basically put him out of business....this particular article should give you a laugh though, or it did for me
Bad Economy Threatening the Bread and Circuses of Professional Sports
ReplyDeleteOne of the biggest diversions the establishment uses to keep people from looking at the real problems plaguing this nation is bread and circuses. Rome used the gladiators in the Coliseums as a way to keep people in a stupor. I have to admit, I do watch the NFL and NASCAR. My two-hour diversion a week to rest after fighting the New World Order the other six days. The other six days exposing the evil. Having this kind of diversion once, a week keeps me sane.
Seeing the economy in a downward spiral, disposable income is scarce. An economic collapse on the horizon is on many people’s minds. Right now with the Federal Reserve printing money to bail out the banks in Europe and the United States. With every dollar printed with no gold or silver to back up the value of the currency. Inflation robs the people's earnings and savings by devaluing the currency printing of dollars to prop up the oligarchs. As a result, it cost more to by fuel for the cars, food, utilities and other living expenses. People do not have the disposable income anymore for leisure and pleasure anymore.
Reading on the web, many professional sports leagues are feeling the squeeze of the economy. People are cutting back because they have no job and fear losing their jobs. The NFL and MLB are feeling it with a drop in attendance. NASCAR is feeling the hit from a bad economy. Racecar drivers are having a hard time getting corporate sponsorship. They have seen a drop in attendance too. There has been a decline across the board in all sporting events because the ailing economy. .."
http://lonestarwatchdog.blogspot.com/2012/05/bad-economy-threatening-bread-and.html
tag: Socionomics(?)
AAIP
It appears someone is desperate to push futures higher. I haven't heard any news good or bad. The G8 Summit didn't accomplish anything (except for more promises). Mu guess is that futures will close to flat or lower by the open.
ReplyDeleteEURUSD down, 10yr struggling, gold and silver down, FB below IPO price. What's really holding the market up?
ReplyDeleteI'd probably sell the idea that there are no more traditional head and shoulders patterns. We just had a textbook H&S play out in the S&P 500 last year, the August decline was the breaking of the neckline.
ReplyDeleteThis year if you want an example of a traditional right now look no further than the IWM:
http://tinypic.com/r/2dax4xf/6
As I had mentioned on here before a good way to test the validity of the H&S you are looking at is to use OBV (On Balance Volume), which I placed in the IWM chart above, so its obvious why I use that if I think I see an H&S.
Also, its not entirely controversial to see slanted necklines, those are even discussed in detail in the classic Edwards and Magee technical analysis book. they are much harder though, in my opinion, and more often than not a slanted neckline is a warning that perhaps a more complex triangle is taking shape.....though I don't disagree on the dollar view, I'd call it the same right now.
Don't let futures fool you. SPX is only $3 above fair value. Not exactly positive or fear inducing to the shorts.
ReplyDeleteGood chart there Ben on the IWM....good example
ReplyDeleteFacebook looking good....
ReplyDeletenot.
http://www.youtube.com/watch?v=qqF83-FmVpM&feature=player_embedded
ReplyDeleteE*Trade Baby Loses Everything
LMAO.
AT,
ReplyDeletewhat kind of stuff do you look for (if anything outside of price action) to figure out that a flat is less likely than a Neely type triangle?
Also, do you have a good source for information about the diametrics?
I don't view todays candle as a reversal since it didn't open lower and close higher (so far). Possible short squeeze or profit taking. Or a move to save FB.
ReplyDeleteNew lows still above new highs. Higher TICK readings not appearing with each new high in the SPX. Looking like a LAL 3pt attempt against OKC.
ReplyDeleteIt's Pau's fault
ReplyDeleteIt looks like the move higher is NOT a short squeeze. Just death by a thousand cuts to the bears. I figure I would have seen larger moves in the crosses but I haven't. Even 10yr closed well of its highs.
ReplyDeleteDon't get me wrong. Todays move looks good for the bulls and has CNBS foaming at the mouth. A 0.5% move in DXY & EURUSD doesn't account for this move.
ReplyDeleteLowest volume on SPX since 4/30/12. Just sayin'
ReplyDeleteWas pretty cool how Kobe blamed it all on Pau...
ReplyDeleteKobe shoots blanks last several heaves in some of the losses....
Who's calling him out?
Lakers = old
Thunder = young and very good
But after 12 days the bulls needed something to help their sanity.
ReplyDeleteAndy T
ReplyDeleteThe Lakers stopped using Bynum is the 2nd half. Kobe's shot was off. They're to slow to keep up with OKC on fast breaks.
AT,
ReplyDeleteI think Kobe was 2/10 in the fourth quarter of that game
but of course, he had to take the shots because Pau wasn't aggressive enough
I'd like to see a Heat Thunder final, so long as the Thunder win.
I have to admit though, the show LeBron and Wade put on yesterday was something to see...
go sixers!
I can put up the Corner if needed. But I've been letting Andy's work stay up for Monday (unless he's too busy).
ReplyDeleteLooking for a pic of the Lakers with "Gone Fishin'"
ReplyDeletehttp://www.zerohedge.com/news/did-fed-just-give-us-very-big-clue-just-how-big-jpms-cio-loss-may-be
ReplyDeleteA view of the Fed's stress test for JPM and what losses (>$31.5B) would force JPM to stop buybacks. Ruh roh?
Quotage..
ReplyDelete"We hang the petty thieves and appoint the great ones to public office."
-- Aesop
(c. 550 B.C.) legendary Greek fabulist
http://quotes.liberty-tree.ca/quote_blog/Aesop.Quote.28C2
"The history of totalitarian regimes
is reflected in the evolution and perfection
of the instruments of terror
and more especially the police."
-- Carl J. Friedrich
Source: The Pathology of Politics, 1972
http://quotes.liberty-tree.ca/quote_blog/Carl.Friedrich.Quote.400A
"If Americans wish to preserve a country they will recognize,
then the first step is to recognize the enemy.
Public education is the enemy. The entertainment industry is the enemy.
The corporate culture is the enemy. The advertising industry is the enemy.
And most of the politicians in both parties are the enemy.
An enemy is defined as anybody, or any organization,
which is attacking the traditional beliefs of Americans."
-- Charley Reese
Columnist
http://quotes.liberty-tree.ca/quote_blog/Charley.Reese.Quote.72D3
ibid.
http://mam.econoday.com/byshoweventfull.asp?fid=450801&cust=mam&year=2012&lid=0#top
ReplyDeleteHighlights
The steady sell off in the stock market mirrors a pullback underway in retail sales, according to ICSC-Goldman whose same-store sales index, at minus 1.7 percent in the May 19 week, is down for a fourth week in a row. The year-on-year rate is down seven tenths to plus 3.8 percent. The report notes little positive effect from favorable weather or from lower gas prices.
Facebook IPO... "thanks for playing."
ReplyDeleteRichmond Fed Mfg
ReplyDeleteActual 4, previous 14, expected 11
Existing Homes
actual 4.62M, previous 4.48M, expected 4.66M
The only way the 10yr can move this much is with the Fed's help. Just sayin'
ReplyDeletehttp://finviz.com/futures_charts.ashx?t=NG
ReplyDeletenow, that's a Rally worth 'writing-home' about..
AAIP
AAIP
ReplyDeleteYour 12:53
How do you buy that?
what a joke:
ReplyDeletehttp://www.ritholtz.com/blog/2012/05/so-you-think-you-really-know-what-happened-with-facebooks-ipo-on-friday/
Joe Saluzzi continues to embarass himself each time he writes on Barry's, and he tells lots of lies about HFT, primarily because they basically put him out of business....this particular article should give you a laugh though, or it did for me
WTH was that last second ramp all about?
ReplyDeleteNuevo.
ReplyDelete