For all those who went long at 1500...
Creditcane™: REPETERE AD INFINITUM: CAVEAT EMPTOR.
Doji day. Midpoint above EMA(10). Still above all SMA's. Tested and failed the 0.0% retrace (1496.13). New high on daily 3LB (reversal is 1485.98). QE2infinity. Still below 2 of 3 trend lines and RSI(14) above 50.
Doji day. Midpoint above EMA(10). Tested and held the 38.2% retrace (79.97). Tested and held SMA(21). No dally 3LB changes (reversal is 79.25).
Doji day. Midpoint below EMA(10). Still below all SMA's. Holding above its 0.0% retrace (12.29). No daily 3LB changes (reversal is 13.49).
Bearish long day. Midpoint below EMA(10). Tested and failed its 50.0% retrace (1670.30). Tested and failed SMA(21,233). No daily 3LB changes (reversal is 1693.80). Must have the precious.
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Holding above its 38.2% retrace (1.3138). No daily 3LB changes (reversal is 1.3069).
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Holding above its 100.0% retrace (40.86). No daily 3LB changes (reversal is 41.21).
Bullish short day. Tested and held SMA(21). Midpoint below EMA(10). Tested and held its 50.0% minor retrace (18.42). No daily 3LB changes (reversal is 19.14).
Spinning top day (didn't confirm bearish engulfing). Tested and held SMA(233). Midpoint above EMA(10). Holding above its 61.8% minor retrace (92.32). No dally 3LB changes (reversal is 94.68).
Bearish short day. Tested and failed SMA(55). Midpoint above EMA(10). Tested and failed its 38.2% minor retrace (32.34). No daily 3LB changes (reversal is 29.67).
Bullish short day. Midpoint above EMA(10). Still above all SMA's. Tested and held its 100.0% retrace (53.88). New high on daily 3LB (reversal is 52.93).
Bullish short day. Still above all SMA's. Midpoint above EMA(10). Holding above its 61.8% minor retrace (0.7765). New high on daily 3LB (reversal is 0.7836).
Spinning top day. Midpoint above EMA(10). Still above all SMA's. Tested and failed its 38.2% retrace (3.681). No daily 3LB changes (reversal is 3.536).
Bearish long day (post earnings). Still failing all SMA's. Midpoint below EMA(10). Tested and failed its 61.8% retrace (463.72). Still failing BB(2,200). New low on daily 3LB (reversal is 529.69).
Bearish long day. Midpoint above EMA(10). Tested and failed SMA(55). Holding above its 38.2% retrace (557.71). No daily 3LB changes (reversal is 561.84).
IT HAS BEGUN. YOU HAVE BEEN WARNED.
5 comments:
Effin' spammers.
If you didn't see the fireworks on CNBC this afternoon, you owe it to yourself to watch two ego-maniacs get baited into a childish argument. I loved it when Carl Icahn said "bullshit" for the second time on live TV and the CNBC host whined like he's never heard that word before. It was a nasty Jerry Springer-like setup (could we expect anything different from CNBC?).
Basically, they got Icahn on and said (and I'm paraphrasing), "Bill Ackman says you are a hypocrite. Are you going to take that from him?" Then, they each took turns talking about how much of a scumbag the other guy is. The funny thing is, they were both right--they are both scumbags and they should just invest quietly like the rest of us, instead of campaigning their books into profitability.
I gave up working on my trades for a good 15 minutes because there was no way I could concentrate with all of the laughter around me.
Weekly 3LB Update 1/25/13
NDCGEA aka Cap Ex didn't do so well in the Durable Goods report coming in at 0.25% M-o-M and -7.68% Y-o-Y.
Pending Home Sales -4.3%, previous 1.6% (rev from 1.7%), consensus -0.3%.
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