Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Bullish short day. Midpoint above EMA(10). Tested and failed SMA(89). Tested and held the 38.2% minor retrace (1416.67). Daily 3LB reversal up (reversal is 1407.05). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
Bullish short day. Midpoint above EMA(10). Holding above the 38.2% retrace (79.97). Tested and failed SMA(21,89). New high on dally 3LB (reversal is 79.67).
Spinning top day. Midpoint below EMA(10). Tested and failed SMA(21,55,89). Still failing its 61.8% minor retrace (18.81). No daily 3LB changes (reversal is 15.06).
Bullish short day. Midpoint below EMA(10). Still failing its 38.2% retrace (1733.20). Still failing SMA(89). No daily 3LB changes (reversal is 1718.80). Must have the precious.
Bearish short day. Midpoint below EMA(10). Tested and held SMA(55). Still failing its 38.2% retrace (1.3127). New low on daily 3LB (reversal is 1.3101).
Bearish short day. Midpoint above EMA(10). Still above all SMA's. Holding above its 61.8% minor retrace (40.10). No daily 3LB changes (reversal is 40.29).
Bullish long day. Tested and held SMA(21). Midpoint below EMA(10). Still failing its 38.2% minor retrace (17.47). No daily 3LB changes (reversal is 16.93).
Bearish short day. Tested and failed SMA(21). Midpoint below EMA(10). Still failing its 38.2% minor retrace (88.45). No dally 3LB changes (reversal is 84.87).
Spinning top day. Tested and failed SMA(21,55). Midpoint below EMA(10). Holding above its 38.2% minor retrace (32.24). No daily 3LB changes (reversal is 34.42).
Bullish short day. Midpoint above EMA(10). Tested and held SMA(89). Tested and held its 38.2% minor retrace (49.10). New high on daily 3LB (reversal is 47.66).
Bearish short day. Holding above SMA(89,144). Midpoint above EMA(10). Holding above its 0.0% retrace (0.7536). New high on daily 3LB (reversal is 0.7620).
Bullish short day. Midpoint above EMA(10). Tested and held SMA(233). Tested and failed its 38.2% retrace (3.681). No daily 3LB changes (reversal is 3.605).
Bearish long day (confirmed bullish thrusting). Still failing all SMA's. Midpoint below EMA(10). Still failing its 38.2% retrace (555.47). Still failing BB(2,200). Daily 3LB reversal down (reversal is 589.53).
Bearish short day. Midpoint below EMA(10). Tested and failed SMA(55,89). Tested and failed its 61.8% minor retrace (570.80). No daily 3LB changes (reversal is 568.70).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
4 comments:
Weekly 3LB Update 12/7/12
http://finance.yahoo.com/news/greece-extends-buyback-offer-reach-102756324.html?l=1
Greece extends buyback offer to reach 30 billion euro target
By George Georgiopoulos and Jan Strupczewski
ATHENS/BRUSSELS (Reuters) - Greece extended its offer to buy back debt until Tuesday, seeking more bids from bondholders after falling short of a target to retire bonds worth 30 billion euros at a cost of just 10 billion euros.
The buyback is designed to provide for about half of a 40-billion euro debt relief package for Athens agreed last month by the European Union and International Monetary Fund.
Its success is crucial to ensuring Greece's debt is put back on sustainable footing and - more immediately - to unlocking badly-needed aid for the country.
Despite the initial lack of investor interest, the scheme is expected to ultimately hit its targets since Greek banks - whose own fate depends on a successful buyback - are expected to stump up the shortfall.
A total of 26.5 billion euros was tendered at an average price of 33.4 percent of face value when the offer expired on Friday, a senior euro zone official told Reuters.
That would mean Greece would still have 1.15 billion euros left over from the 10 billion euros it was allotted to spend to retire outstanding debt. Assuming the same average price, it could buy an extra 3.5 billion euros worth of bonds.
Greece's debt agency extended the offer to 7 a.m. EDT on Tuesday following Friday's deadline.
If at first you don't succeed extend the deadline...
http://www.bloomberg.com/video/investors-haven-t-grasped-reality-scott-says-RCyaedjFQCO7~HCYqb8A9Q.html
..How DO you pay for a European-style socialism?
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