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UPDATE 12:31pm EDT: Thought you rats might be able to use this:
Gives us some short term lines to play with – as you know I’m not touching this today. Zero also not too impressed about today’s tape.
UPDATE 12:48pm EDT: Keirsten shared a chart on the VIX this morning. Here’s my own mental masturbation:
Just an idea how it could play out – VIX is tough to count but there’s a good chance we push through the 30 line before this consolidation is over and done.
Public service announcement:
Please be aware that EvilSpeculator will be moved to an even bigger and meaner server this weekend. I planned to do it last weekend but we were waiting for some parts and I didn’t want to do it during the week obviously since the DNS roll over might have cut a few people off for a day or two.
So, what I’ll do on Monday morning is to post the new IP address over on the Slope so that anyone sitting behind a slow DNS will be able to access the new site. Unfortunately the process of moving to a new server is always a bit painful as your ISP’s DNS might only update every few days or so. If you see very little activity (and no new post) on Monday morning then you might also call your own ISP and tell them to get their act together. Again, the new IP will be available over on the Slope – you can either copy/paste that into your browser’s URL field, or call your ISP to refresh the DNS cache.
UPDATE 2:39pm EDT: What do you know – Gold actually closed below that fucking diagonal:
Okay, now I am hoping for a re-test and that’s when I’m in. Of course we all know what’ll happen – huge drop right from here – LOL
UPDATE 3:00pm EDT: One more hour to go – today is one of those days where I’m super happy to be sitting in cash. I’ve had more fun getting a root canal.
Not sure if you guys are watching the treasuries but the 10-year note got dumped like a cheap hooker today (again).
The yield is obviously on the rise – how’s ‘buying the long end of the treasuries’ working out for ya, Mr. Bernanke? If I remember it correctly the 10-year responded the most when he dropped the news and that’s where I think the Fed was planning to be most active. Maybe some of you bond/note traders could chime in here? Karl is foaming over this – as we well know – and he’s right. The Fed will fail over the long term – we could see yields push through 3% sometime this spring.