Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Spinning top day. Midpoint above EMA(10). Tested and failed SMA(55). Holding above the 38.2% minor retrace (1416.67). No daily 3LB changes (reversal is 1459.99). QE2infinity. Still below the trend line and also below the lowest trend line.
Bullish long day. Midpoint above EMA(10). Tested and held the 38.2% retrace (79.97). Tested and held SMA(55). New high on dally 3LB (reversal is 79.08).
Bullish long day. Midpoint below EMA(10). Tested and held SMA(21,89). Still failing its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 14.05).
Bearish long day. Midpoint below EMA(10). Still failing its 38.2% retrace (1730.90). Tested and failed SMA(89). New low on daily 3LB (reversal is 1724.00). Must have the precious.
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(55). Still failing its 38.2% retrace (1.3127). Daily 3LB reversal down (reversal is 1.3132).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(21). Holding above its 61.8% minor retrace (40.10). No daily 3LB changes (reversal is 40.73).
Bullish short day. Tested and failed SMA(21). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (17.47). No daily 3LB changes (reversal is 18.70).
Bearish long day. Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% minor retrace (87.97). New low on dally 3LB (reversal is 86.67).
Bearish long day. Tested and failed SMA(233). Midpoint below EMA(10). Tested and failed its 38.2% minor retrace (32.24). New low on daily 3LB (reversal is 32.10).
Bearish short day. Midpoint above EMA(10). Tested and failed SMA(21). Tested and held its 50.0% minor retrace (50.01). No daily 3LB changes (reversal is 51.64).
Bullish long day. Tested and held SMA(21). Midpoint below EMA(10). Tested and held its 0.0% retrace (0.7536). New high on daily 3LB (reversal is 0.7529).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(89,144). Still failing its 38.2% retrace (3.673). New low on daily 3LB (reversal is 3.550).
Bearish long day. Still failing SMA(144). Midpoint below EMA(10). Still failing its 61.8% minor retrace (612.20). Tested and failed BB(2,200). New low on daily 3LB (reversal is 609.54).
Bearish long day. Midpoint below EMA(10). Tested and failed SMA(233). Still failing its 61.8% minor retrace (570.80). New low on daily 3LB (reversal is 567.47).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
3 comments:
Weekly 3LB Update 11.2.12
So far the only new of interest: http://www.zerohedge.com/news/2012-11-04/spanish-banks-may-face-17-billion-margin-call-ecb-found-lie-about-collateral-haircut
Spanish Banks May Face €17 Billion Margin Call As ECB Found To Lie About Collateral Haircuts
Basically DBRS rates the long bonds of Spain as A and the ECB is using this rate for the short term bonds (T-Bills).
quote:
"The decisive criterion in this business rating scores. In the highest rating category include only securities from at least one rating agency with the "A" grade. This is at issue T-bills is not the case: they come from the major rating agencies, Standard & Poor's, Moody's and Fitch are only notes in the 'B' range and therefore only second-rate securities. For two of the bonds, there is only one note from S & P, and not even enough for the lowest category.
ECB accepts little known rating agency
Confronted with the peculiar reviews, the ECB provides answers only raise new questions. First, she asserts, everything has its accuracy. The haircuts for the Spanish T-bills are "properly calculated because the rating from DBRS currently 'AL' is'. In fact: The little-known, but by the ECB recognized rating agency DBRS Spain has awarded an "A (low)", still a first class classification.
However, this grade is according to the agency really only useful for long-term debt of Spain, short-term credit awards not DBRS. The ECB is challenging not to: Such ratings would be accepted for short-term bonds, the central bank can do. Of which is the official, after all 148 pages of rules for the strong valuation of collateral course nothing. The ECB points to another, non-public Manual - to the derogation was captured, and had been since 1999."
Nuovo.
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