Someone had to keep buying the dip...
Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(233). Still failing the 61.8% minor retrace (1383.13). New low on daily 3LB (reversal is 1394.53). QE2infinity. Still below all trend lines and RSI(14) still below 50.
Bearish short day. Midpoint above EMA(10). Holding above the 38.2% retrace (79.97). Tested and held SMA(89). No dally 3LB changes (reversal is 80.81).
Bullish long day. Midpoint below EMA(10). Tested and held SMA(21). Still failing its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 19.07).
Doji day. Midpoint above EMA(10). Tested and failed its 38.2% retrace (1730.90). Holding above SMA(21). No daily 3LB changes (reversal is 1675.20). Must have the precious.
Bullish short day. Midpoint below EMA(10). Tested and held SMA(144). Tested and failed its 61.8% minor retrace (1.2759). No daily 3LB changes (reversal is 1.2773).
Bearish long day. Midpoint below EMA(10). Still failing SMA(89). Tested and failed its 50.0% minor retrace (39.86). New low on daily 3LB (reversal is 39.93).
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (17.47). No daily 3LB changes (reversal is 16.14).
Bullish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (87.97). No dally 3LB changes (reversal is 89.14).
Doji day. Holding above SMA(21). Midpoint above EMA(10). Holding above its 38.2% minor retrace (32.24). No daily 3LB changes (reversal is 30.86).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(144). Still failing its 38.2% minor retrace (49.10). New low on daily 3LB (reversal is 48.39).
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 0.0% retrace (0.7536). New low on daily 3LB (reversal is 0.7522).
Bearish short day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 61.8% minor retrace (3.443). No daily 3LB changes (reversal is 3.494).
Bearish short day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% retrace (555.47). Still failing BB(2,200). New low on daily 3LB (reversal is 576.80).
Bullish short day. Midpoint above EMA(10). Tested and failed SMA(233). Holding above its 38.2% retrace (557.71). No daily 3LB changes (reversal is 565.17).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
6 comments:
http://www.nytimes.com/2012/11/15/business/global/greece-looks-at-offering-creditors-a-buyback-to-lower-its-debt.html?partner=rss&emc=rss&_r=0
Greece Examines a Debt Buyback as One Way to Reduce Its Burden
LONDON — As Greece’s creditors bicker over the terms of its bailout, the government is examining a more radical approach that could reduce the country’s escalating debt pile in one fell swoop.
more...
To that end, a small circle of lawyers and bankers are suggesting that Greece offer to buy back its deeply discounted debt at a price of 27 to 33 euro cents, compared to the 25-cent level where it currently trades. If investors hold out for a higher price, the government could invoke collective action clauses (C.A.C.’s) in the bond contracts that, in theory, would prevent a bidding war, thus allowing the country to retire as much as 40 billion euros of its 340 billion euros in debt.
For example, the 62 billion euros’ worth of new bonds that Greece issued as part of its landmark debt restructuring deal reached with private bondholders in March are now valued at about 15 billion euros, or $19 billion. If Greece were to borrow the money to buy back this debt, it could retire 30 billion to 40 billion euros’ worth of its obligations, depending on the ultimate price it pays.
more...
Of course, the idea has infuriated the many hedge funds that in past months have scooped up more than 22 billion euros’ worth of Greek bonds at rock-bottom prices. With many sitting on big profits after the recent market rally, they are in no mood to sell out cheaply, especially if Greece resorts to wielding a legal cudgel to complete the deal.
more...
Still, sovereign debt experts point out that for the C.A.C.’s on the restructured bonds to take effect, 75 percent of the holders must accept the government’s offer — and there is little chance of that if Greece tries to make a lowball bid. If, however, Greece offered a significant enough premium to today’s market price of around 25 cents, there is a strong possibility that investors might bite, although in such a case the cost would be higher and the debt reduction lower.
OK...how come continuing claims took such a large jump?
http://www.reuters.com/article/2012/11/15/us-walmart-results-idUSBRE8AE0V420121115?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+(Business+News)
Wal-Mart sales miss Wall Street view, shares down
By Brad Dorfman
Thu Nov 15, 2012 8:58am EST
(Reuters) - Wal-Mart Stores Inc reported quarterly sales below analysts' expectations on Thursday, while sales at established U.S. discount stores trailed Wall Street estimates and traffic fell in China.
The company also saw sales in Japan sag as the economy weakened.
"Across all of our markets, we are seeing the same price consciousness as we do in the United States," Chief Executive Mike Duke said in a statement.
Wal-Mart shares fell 3.4 percent to $68.90 in premarket trading.
Still, the world's largest retailer said sales so far this month were better than expected in the United States as its low- price strategy has resonated in an economy where unemployment continued to be high.
Sales rose 3.4 percent to $113.20 billion for the third quarter ended October 31. Analysts, on average, looked for $114.96 billion, according to Thomson Reuters I/B/E/S. Excluding the impact of currency fluctuations, sales would have been $114.9 billion, the company said.
MCD also missed with same store sales so you know things are bad. WMT & MCD missing expectations? Run.
http://www.dailymail.co.uk/news/article-2233221/Dennys-charge-5-Obamacare-surcharge-cut-employee-hours-deal-cost-legislation.html
'I think it's a terrible thing. It's ridiculous that the maximum hours we can give people is 28 hours a week instead of 40,' said Metz to the Huffington Post.
'It's going to force my employees to go out and get a second job.'
Obamacare requires businesses or franchises with more than 50 workers must offer an approved insurance plan or pay a penalty of $2,000 for each full-time worker over 30 workers.
The program mandates that only employees working more than 30 hours a week are covered under their employers health insurance plan, chains like Olive Garden and Red Lobster are already considering reduced worker hours.
'Obviously, I'd love to cover all our employees under that insurance,' said Metz.
'But to pay $5,000 per employee would cost us $175,000 per restaurant and unfortunately, most of our restaurants don't make $175,000 a year. I can't afford it.'
Completely forgot this is opex week.
New.
Post a Comment