Living Inside a Broken Clock: Tuesday, Dec. 29, 2009.

by gmak

By the pricking of my thumbs, something wicked this way comes. It is the end of the year. Most people are hibernating for a week or two. Our financial and political uberclass are rearranging the fiddles on the burning titanic.

http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=1&islist=false&id=121778778&m=121774893

http://online.wsj.com/article/SB126168307200704747.html?mod=WSJ_newsreel_us

And China is determined to help the Banksters keep the party going.

http://finance.yahoo.com/news/China-shares-up-on-premiers-apf-785025415.html?x=0&.v=1

There has been  over a year of unending and unprecedented stimulus. Governments have tried to pull forward as much future consumption as is insanely possible. Yet the global economy continues to wind down. International capital flows are drying up as the shadow banking system continues to fade away:

http://blogs.cfr.org/setser/2008/12/29/the-collapse-of-financial-globalization/

 Economic growth is illusory. There are enough idle tankers off the coast of the UK to form a line 26 miles long and block the Channel. This scene is being repeated around the world. Hardly the stuff that booms are made of.

The cracks are growing in Europe.

http://suddendebt.blogspot.com/2009/12/euros-trojan-horse.html

http://eurowatch.blogspot.com/2009/12/quantifying-eurozone-imbalances-and.html

US Cities are being faced with the reality of having to live within their means.

http://dollarcollapse.com/articles/%e2%80%9cthe-last-time-that-happened-was-during-the-great-depression%e2%80%9d/

We’ve all seen the chart of the wave of re-fis coming up that matches those storm waves that Centrifugal likes to ride. 

http://www.nolanchart.com/article/print.php?ArticleID=7157

http://www.the-peoples-forum.com/cgi-bin/readart.cgi?ArtNum=2765

We also have seen articles on all the difficulties in resolving mortgage issues due to the complex structures and ownership overlayed on the instruments. Here is a chart of Mortgage /GDP from a number of countries.

http://www.banknoise.com/wp-content/uploads/2009/09/mortgage-gdp-ratio.png

All of this has yet to happen to CRE. Office space vacancies have not yet peaked based on the last recession.

http://dollarcollapse.com/articles/%e2%80%9cthe-last-time-that-happened-was-during-the-great-depression%e2%80%9d/

There are still $205 bb in tbills (based on Bloomberg table of auctions) and tnotes that settle on Dec 31 and were /are being auctioned this week, even though the regular buyers have been absent for some time.

http://jessescrossroadscafe.blogspot.com/2009/12/who-is-buying-all-these-us-treasuries.html

This becomes a problem given the 10 fold increase in NET borrowing expected in 2010 in the US. There are only 3 options: 1) More QE; 2) Much higher rates; and, 3) Risk market (equity) crash to push money towards “risk-free” fixed income. $1 trillion in new debt means $1 trillion in new money needed to “invest” in that debt. This is nigh impossible.

http://www.zerohedge.com/article/brace-impact-2010-private-demand-us-fixed-income-has-increase-elevenfold-or-else

The bailout caps on Fannie and Freddie have been eliminated. Maybe they will be used for money creation to soak up the Treasury debt.

http://www.businessinsider.com/heres-the-secret-justification-for-lifting-the-bailout-caps-on-fannie-and-freddie-2009-12

Table S-9 shows that your out of control politicians are going to squander all of your hard-earned money (and I use the term loosely – money that is). Go back up to the “regular buyers have been absent for some time”. Rinse and Repeat.

http://www.whitehouse.gov/omb/assets/fy2010_new_era/Summary_Tables2.pdf

To top it off, the bond vigilantes are taking the final nail from lips to coffin.

http://www.reuters.com/article/idUSTRE5BP0EF20091226

I am sad to say, here is your country’s future. It’s no longer “Cake or death?” anymore, it’s just “Death or death” (economicl). Welcome to the broken clock.

http://globaleconomicanalysis.blogspot.com/2009/12/michigan-forces-business-owners-into.html

http://jessescrossroadscafe.blogspot.com/2009/12/what-will-new-world-reserve-currency.html

 

 EQUITY

 THe world is green except for the Middle East & Africa, Hong Kong, and S. Korea.  The DAX continues to march upwards and is above the magical 6000 number. Expect more of the same for SPX.  The daily SPX chart shows that slow march up towards the purple dashed line that should mark the point of retrace – or no return. The arcs are FIB arcs drawn with the center point at the March low of 666. Notice that nothing major has happened on any of the visible ones. Similar to the Heisenberg uncertainty principle, TA will tell you where or when – but not both.  There is just too much going on above, plus the New Year, to believe that January will see a break out. I’m expecting a retrace. I just don’t know from which level.  In any case, no retrace will be a fundamental change in direction unless it gets below the 1086 level (green dashed line) and somehow manages to clear both the TD risk level (red dashed line) and the last low – SPX needs to start putting in lower hghs and lower lows. So far we have neither. I would be happy with a lower low.

 If someone can explain what is with ES from about 6:30 on, I would be a happy man. Did someone suddenly realize that they hadn’t closed out a short position? ES pivots:

  • R2: 1131 =Doesn’ tseem to have any historical significance. Looks like TD was predicting this level for wave 3 of 5 (up sequence) in the current move. Note that we are in wave 5 on the daily chart.
  • R1: 1127 = This is where TD says the current wave on the 5 minute chart is supposed to turn around.
  • Neutral: 1122.25 = Suport and resistance level going badck to Dec 24.
  • S1: 1118.25 = Handily below the TD risk level at 1120. If we get here on any volume, it looks like a short term reversal is happening. This would put in a lower low on the 5 min chart.
  • S2: 1113.50 = This was support on Dec 23 that helped launch the latest drive up. Not likely to see this before January.

 As you may have seen in the comments section yesterday, on a weekly basis, ES is putting in bar 8 of 9 in a SELL setup sequence (TD TA). Plus, this week is bar 13 of a SELL countdown (which significes buyer exhaustion). Given how the TD TA looks, next week should be bar 9 of the SELL setup, followed by a reflex retrace of 1 to 4 bars. The TD Pressure indicator at the bottom of the chart seems to be pointing in this direction as well with the overbought condition (above the red line). Moving below the red line – which should not happen this week – would signal a low risk SELL. The purple dashed line is a TD Risk level at 1071 and indicates a support level. ES would have to go below, then retest from below for the down trend to continue – if ES ever gets there (we know it will, just not when).

FX

USD is weaker. CAD, EUR, are stronger. GBP is flat, JPY is slightly weaker. Looks like the risk trade but in slow motion  / low volume.  I have a pivot at DXY = 77.36 on the 30 min chart that is also a strong support level from earlier in the month. If it lets go – on volume mind you – then I can see 76.50ish and below in short order (we’re talking over days, not minutes). Given the action into year end, I wouldn’t bet the farm on any FX /Equity correlations that have worked this year. Nothing is for certain until volume comes back in January, IMHO.

Treasury auctions are big news, IMHO. Watch the TNX.

I’m on Bloomberg Anywhere, and it has trouble saving screens to file, so I don’t have the news and data screens for you. Home prices are up at 9 AM EST. Consumer confidence is at 10AM EST. Jobless claims are on the last day of the year (Thursday).

CONCLUSION

http://globaleconomicanalysis.blogspot.com/2009/12/most-redeeming-feature-of-capitalism-is.html

“Any healthy system needs a way to correct error and remove waste. Nature has extinction, the economy has loss, bankruptcy, liquidation. Interfering in this process lengthens feedback loops. Error and waste are allowed to accumulate, and you ultimately get a massive collapse.”

  1. This can only end in tears;
  2. This can only end in tears;
  3. A few more bears will have to be crushed before the momentum shifts; and,
  4. This can only end in tears.

I predict higher interest rates. I predict lower equity prices. I predict many many versions of “Who could have foreseen”. I just don’t know when.

Cheers.

This entry was posted on Tuesday, December 29th, 2009 at 9:57 am. Both comments and pings are currently closed.



  • Gerbil_gold

    CaseShiller 20 City: -7.28%
    worse than expected.

  • Schwerepunkt

    INO.com says that -7.7% was expected for the 20-city number, so that is actually better.

  • Schwerepunkt

    gmak; you've outdone yourself. A lot of market meat to chew on in that post. thanks again.

  • Gerbil_gold

    Then FINZ is a lieing sack of sh!T.
    http://finviz.com/calendar.ashx
    someone explain the diff?

  • Rightside_ot_trade

    Perhaps this econonday explains it:
    http://mam.econoday.com/byshoweventfull.asp?fid

  • gmak

    Bloomberg says that survey for OCT was -7.20% vs -9.27% YoY prev revised from -9.36%.

    Maybe FINZ (I'm too lazy to go check) was using the prior or the revised instead of the other (and vice versa). Who cares in the end. The actual is slightly lower than the expected on a YoY basis.

  • Blind_Squirrel

    http://www.maximumpc.com/article/features/20_es

    20 tips and add-ons for gmail users

  • gmak

    For all you data wonks (You know who you are. :-) here is more country by country economic data and forecasts than you can shake a stick at.

    http://www.imf.org/external/pubs/ft/weo/2009/02

  • centerline

    Adding to the thoughts in the previous post…

    If playing now, play for the day. Otherwise, hold everything until at least the first week of January has played out. Volume right now is too light, and there are too many games being played that can really push things around on light volume. If the market breakouts play those ridiculous bull flags that have been painting since forever, they indicate to SPX 1190-1200 range (ouch). However, one simply can't ignore the mounting, massive divergences, poor underlying fundamentals, etc. IMO.

    On a more macroscopic scale of market conversation, I believe that a great deal of the current market action is driven (gamed) to cast the illusion that all is well… that there is a light at the end of the tunnel. In addition, propelling the market stems a secondary disaster as many government funds are market based and benefit from a rising market – along with 401ks, etc. (indirect assistance per se). Other bullish aspects of it are purely a function of Fed actions relative to the rest of the world (e.g. capital flows). Together, we have a market on super-crack. Another potential bubble if allowed to inflate too far IMO. I think it is clear though that Fed is using the market as a tool of recovery. It is a dangerous game to play of course. In the end, it is not the Fed that controls the market… forces of equilibrium eventually come into play. I assume the Fed also knows this, and has an idea of how far things can be pushed.

  • Nightwind

    Gmak, excellent post. The next black swan event…..a responsible government is elected, no one would ever see that coming -or- would you call that a white swan event?

  • WTFed

    Gmak you must have stayed up all night compiling that. Nice job man.

  • bubble jeopardy

    I realize that every “top” so far has been another step up but the price action in jnk may be a warning. There are negative divergences on the daily chart (where aren't there some at this point). The 10 and 60 minute charts look like the etf hit a wall. Maybe a sell off in high yield will be the canary in the coal mine fwiw.
    http://www.screencast.com/t/MmI3YjgwNT

  • centerline

    gmak – loved the post. Am going to enjoy reading all those articles today.

    Death by electric chair or death by hanging? (LOL). There is no easy way out until debt is recognized and dealt with. Right now, this is all just a shell game. The reality is that in a good economic environment, it would take a decade to de-leverage the current positions (both commercially and privately). In this environment, what a joke. The only thing going on is the big banks building financial bomb shelters for what they know is coming. Preparing to drop debt on already debt-saturated government and debt-saturated public. Of course government then passes the debt to the people. And we are hoping for a consumer-based recovery? LOLOLOLOLOLOLOLOLOLOL.

  • gmak

    Nah. Just some of my readings from yesterday – but I saved the links as I read to lay out a view. I have some time (I'm off this week), so don't get spoiled. :-)

  • centerline

    Thanks for the insight on that one. I was watching it yesterday relative to LQD – more investment grade versus junk… and in concert with bond quality ratio as a gage for risk in these classes. Came up empty handed regarding any hint of direction in equities.

  • WTFed

    cheers

  • mthomas1818

    interesting article on the performance of gold versus oil in 2009 and factors affecting this relationship in 2010: http://www.goldalert.com/stories/Gold-Price-Ver

  • bubble jeopardy

    As I recall in 2007, high yield price action was a good barometer on market direction. Perhaps it will be an early sign again.

  • centerline

    It wouldn't surprise me at all. Thanks.

  • gmak

    Consumer confidence is above 52 = enough for a recovery based on historical norms.

  • Nightwind

    USD needs to correct a little further off of H&S hrly top w/ target of 77.05 area on /dx. That should mark a nearing top in the US equities IMO

  • Shaka_Zulu

    @gmak

    I don't post here a lot, but FWIW, I've enjoyed your comments, particularly the last two days. Thanks and please know that you have company. It may be bad company, but company nonetheless.

  • Me_XMan

    Bulls keep jamming up the tape. Another Wow! Day.

  • derekste

    tick… tock…

  • WTFed

    maybe we should change that to tick. tick. tick……

  • gmak

    <thumbsup>

    ________________________________

  • http://trading-to-win.blogspot.com/ DavidDT

    “responsible government is elected”
    Science fiction is two isles up

  • Nightwind

    The bull love fest is in full swing as they dance around the dead bear carcases. Bernanke and Geitner stand at the punch bowls handing out drinks to the drunken bulls. Meanwhile, a dark omnioua shape just outside of the light of the roaring bonfires begins to emerge. Yes folks, you guessed it right, its TyrannoBear Rex and he's pissed. His friends just call him P3 for short.

  • tradejane

    Only the indexes. Other shorts doing just fine. Strange.

  • amokta

    ok i finally have a day-to-day options account up & running funded with $x
    Please advise how to turn this into $2x by market close today

    seriously, wheres the trade at right now?

  • http://www.hotoptionbabe.com annamall

    Raised by Wolverines, you g m

  • http://oahutrading.blogspot.com/ steveo77

    http://www.whitehouse.gov/omb/assets/fy2010_new

    Link from GMAC above….read the first table, look at the numbers for 2009 and beyond, and the title “A New Era of Financial Responsibility”.
    Orwellian madness.

  • amokta

    are the UK banks like HSBC & Barclays (though Barclays have fallen a bit from top), still too fat to fail, or are they due a fall soon?

  • http://oahutrading.blogspot.com/ steveo77

    But he is slow to charge, letting the bulls take their final crack hits so they can party on….for a while…

  • http://oahutrading.blogspot.com/ steveo77

    Great compilation. thanks

  • boldventure

    Nice work gmak

    Two shorts I like… even in this melt-up market

    UAUA-up 60% last 30 days turning back now short here 12.50 (set stop@13.00)

    Taking profits at 10.00 (could happen fast)

    SNDK-up 50% last 35 days turning back now short here 28.80 (set stop@29.75)

    Taking profits at 24.00

  • Nightwind

    You can track this bad boy. His symbol is $DXY

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    well, took my own sweet time but things seemed calm here

    anyone for a gold short at 108 with stop at 109? target 106

  • Me_XMan

    Is this a joke on the bears?

    ===
    Hedge fund manager Eric Sprott, whose fund returned 496% over the past nine years, says investors are dillusional. “We're in a bear market that will last 15 or 20 years, and we've had nine of them.” Sprott predicts the S&P will collapse below its March low of 676.5, while gold (GLD) is the only asset about which he remains positive.
    ===

  • http://oahutrading.blogspot.com/ steveo77

    check JNK just lately, flight from risk after a blowoff top of sorts.

  • Nightwind

    Xcellent point. Who says bond traders are smarter? Ok…ok…I did.

  • Gerbil_gold

    some crazy nut told me a while back to 'use a ruler'.
    sept 28 to oct 28 to now, were at support.
    also, it's holiday season AND it's month end paint the tape.
    some crazy nut, eh?

  • bergs

    pattern is looking terminal .
    thought I would throw this out before I run errands.

    http://screencast.com/t/ZmYyY2UyNDk

  • Shaka_Zulu

    Where's the joke? You mean like taunting or something?

  • http://oahutrading.blogspot.com/ steveo77

    Eur on a mini tanker (but no port will welcome them).
    ES already did its blowoff top past the 50 Fib
    It's 6AM, I am out of Kona Coffee, and we have sunglasses on…hit it.

  • centerline

    Have been watching UAUA for about a week as well for short position. I like the set up on that one. Timing today looks about right IMO. Your stop and target look pretty conservative too. Nice.

  • Nightwind

    You must be talking about me and my 2″ long ruler.

  • Nightwind

    but actually I tell my wife that it is actually 12″. Let this be our little secret

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    nopes, I've been saying bottom in 2017 and gold beyond 5k

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    in log scale my eyeball ruller says we backtested that line and still under it

    care to comment?

  • tradejane

    Not bad.

    AMD showing some signs of weakness as well:

    http://www.screencast.com/t/NTQwMWViO

  • tradejane

    <<<<Passing on a double espresso.

    Hang in there. Party's just getting started.

  • bubble jeopardy

    To me this chart shows the bid for treasuries is strong, biding its time and sees something on the horizon which is different than a “normal” recession while jnk has acted as though the bottom is in and brighter days are ahead. One of them is wrong I believe… I wonder which one ;p
    http://www.screencast.com/t/ZmVmNWJkNT

  • Gerbil_gold

    yeah, my local store ran out of Log rulers!
    =P

  • Gerbil_gold

    yeah – we wouldn't want some corporate lawsuit!
    http://en.wikipedia.org/wiki/Intel_Tick-Tock

  • Tronacate

    EURO dropping off a cliff….thought we would see more upside before it continued its downward march

  • gmak

    tick. tock. doesn't have a hyphen, and doesn't refer to computer chips or technology. There is a Tundra semiconductor corporation, and a Tundra truck. same thing. We can rest easy. (whew!). :-)

  • Gerbil_gold

    holy ta-molee
    http://quotes.ino.com/chart/?s=NYBOT_DX&v=i
    roller coaster!

  • Gerbil_gold

    :-)

  • Tronacate

    Major euro distribution on the 60 min……..big volume …..big red bars

  • gmak

    Rumours were that the BIS was buying USD/CHF. Maybe there was some follow through into EUR and stops got run.

    Plus, I think we are near the “fixing” time for the EUR, aren't we?

    I don't see anything else except that the Ukraine is stooping the import of goats from neighbouring countries. heh.

  • Tronacate

    euro 200 day support coming up @ approx 1.42 ish……..be nice to see it smack right through that……..US equities should follow

  • gmak

    I don't think that that correlation is at play here. I think the EUR weakness is local not global.

  • bubble jeopardy

    I believe you have commented before on xlf. Think the roof will hold on the daily chart?

  • Tronacate

    ^^^^^point taken

  • gmak

    ALthough I am seeing a big retrace in CAD as well. Guess the risk trade may be coming off. JPY has barely moved though. GBP has fallen through the floor.

    Did someone suddenly need a tonne of USD for the Treasury auction(s)?

  • Shaka_Zulu

    Wow. Wasn't watching. Look at that waterfall. Thanks.

  • Tronacate

    I have no idea what's going on…..it's interesting whatever is happening.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    I'll be leaving

    GMAK take over on moderation ;-)

  • http://oahutrading.blogspot.com/ steveo77

    Hey that sounds like me….except for the 496% part.

  • tradejane

    It's a coin toss right now. I think it will be ok as long as it avoids a daily close above 14.75.

    http://www.screencast.com/t/OTk4OWU0MjQ

  • Rightside_ot_trade

    Anyone here still trading X? Down pretty hard today. I would like at least a close inside my BB's to take a half short position
    http://screencast.com/t/ODk1YWUzOWIt

  • WTFed

    I was thinking more in terms of time bomb (tick.tick.tick.)

  • Tronacate

    RUSSELL is trying to reenter the atmosphere……nice double top on 60 min and broke trendline……backtest……then broke lower trendline…..

  • Gerbil_gold

    of course, but after yesterdays “religious cr@pfest”, trying to steer away from the terror “cr@p”.
    ;-D

  • Tronacate

    Might want to take a peek at DTG folks

  • Tronacate

    Trader_fuckhead here or something?

  • http://it'sasecret hindyomen

    is anyone trading ES today? i'm looking for last wednesday's gap (1115.75) to fill this afternoon. pretty good odds of it happening if we break 1122

  • Rightside_ot_trade

    Double top or profit taking at previous (Oct) high of $27.5?

  • Rightside_ot_trade

    Looking to get in. Exited my longs yesterday at the target. Now watching that 1122.25 pivot. May go long again with stop at yesterday's low at 1119.5.
    For a short still figuring out a short stop loss

  • WTFed

    Man, we have become paranoid. I meant the MARKET as time-bomb! But good joke mate.

  • Tronacate

    Profit taking before '10…….maybe……pretty low vol on 60 min bars……so I think we have more downside as the distribution is just starting to pick up

  • bubble jeopardy

    Since August, it looks like a distributive top with an island reversal. Full stoch. show it getting to near overbought on the daily. Is it leading like in 2007 with the $bkx?

  • cedieke

    let see if it gets some volume during the day

  • Gerbil_gold

    it was just a ruler joke!

    nonlog GLD
    http://www.uploadgeek.com/share-2987_4B3A3045.html

    have a great Nap!

  • Rightside_ot_trade

    Yep, but what's confusing me is the stochs on the 60; down a lot on very little price drop.
    I am presently short /TF, it hasn't shown much weakness

  • Rightside_ot_trade

    I signed up for Rammstein this weekend, no alerts yet. anyone else getting any alerts?

  • Tronacate

    Not me

  • goldpackers

    Added to short ANF this a.m. Could churn between 33 and 35 a bit but hoping for 30 to 32

  • Tronacate

    Topping action can be very complex…….I figure it will take awhile to shake out.

  • Tronacate

    I'm thinking of changin my nick to Trader_Steve…….(the obnoxious fuck)

  • Tronacate

    RUT……..every accumulation looks like lower and lower volume…….flat bottom wedge on 5 min…….my best guess is we see a break lower by eod

  • tradejane

    Yes, it looks promising. European banks have been trading even weaker during the same timeframe.

    >Is it leading like in 2007 with the $bkx?

    That's what I like to think. IYR not yet acting the part, though. If it breaks above the mid-channel next target could be the 52 area.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Gerbil Gerbil

    The rodent bands were resisting and gold values look better on LOG

    So it seems they suceeded on forcing that final leg down sooner than latter, then it was just a question of spoting that line ;-)

  • bubble jeopardy

    I follow SRS and notice the longer term positive divergences on the daily. It looks like we must be nearing a bottom but until there are higher highs and higher lows I just keep watching from the sideline.

  • roaddogg

    Awesome work, GMAK. I can easily see that you put a ton of work into this post.. Thank you so very much… From time to time I really need to read stuff like this to remind myself that the current stock market is just an ilusion, a bubble that will probably soon pop…

  • Schwerepunkt

    test

  • Tronacate

    Ok……..what is Avogadro's number

  • Rightside_ot_trade

    The price action is funky so perhaps we are in the 4th wave of 5 in C that started 11/02. This is my rough count.
    BUT I don't place high emphasis on counts.

  • Schwerepunkt

    sorry; can't seem to reply to your messages.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster
  • Schwerepunkt

    Does that have any application to trading?

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    tron and schwere

    behave

    don't we have a tape to watch?

  • Gerbil_gold

    no, just chemistry and bombs!
    ;-)

  • tradejane

    That sounds like a good plan. I'm in SRS as a daytrade for the first time in a while – I had forgotten what a nailbiter that can be. :D

  • http://it'sasecret hindyomen

    i'm waiting for this setup:

    short 1121.75 market if touched
    for a scalp down to 1119.75
    stop 6 ticks above entry

  • Tronacate

    Test #2………PI to 100 digits…….lol

  • Tronacate

    …….6.02 x 10(23)…….number of molecules in a mole(get it)……that a joke son…….lol

  • Schwerepunkt

    gotcha

  • Tronacate

    might be right……thnks

  • Tronacate

    Guess I'll just stand here and wail……

  • Schwerepunkt

    yes we do and I am. I just noticed Tron's comment and wanted to tell him not to talk about that guy.

    Tape still sucks, BTW. Nothing to get excited about either way. I'll be happy if we are in the same range come Monday.

  • Trona_Steve the butthole

    test

  • Rightside_ot_trade

    Seems that 1119.75 is a reasonable target with that entry. maybe even 1118.5

  • Trona_Steve the butthole

    EURO looks like a pretty bear flag after that big impulse down……..

  • Trona_Steve the butthole

    I missed the Steve taking a dump on everyone……..he's so special

  • centerline

    Reminds me of FAZ earlier this year. People screaming about taking the $1000+ bathroom break. LOL.

  • Trona_Steve the butthole

    Been there done that……..

  • AudioTactics

    Hey TJ

    Any view on TLT here?

  • I dined with John Bolton

    SInce this tape is rather boring…..how about everybody list famous people they've dined with?…….or would like to dine with.

    I'll start:
    I would like to dine on Halle Berry

  • Tronacate

    Back to normal

  • tradejane

    Well, it seems like a good area to place a bet:

    http://www.screencast.com/t/NzY0YzYyMW

    Are you feeling lucky? :)

  • Tronacate

    Hey…..where does you know who hang out now???…..

  • Shaka_Zulu

    I was sitting at the Manning's table (i.e. Archie, Mrs. Olivia, Cooper, Peyton and Eli) at this quant New Orleans lunch spot. We had to move and the Mannings walked in moments later and sat at the table next to our lunch crew. They looked just like the NFL blue-bloods that they were going to become.

  • AudioTactics

    Def thinking about it! ;)

    Might wait for the 3.90% level though. Are you playing?

  • Tronacate

    So you had to sit at the back of the bus……..did Eli look like he was going to cry even at lunch?

  • tradejane

    I think I know exactly what you mean. Luckily I got my 7.23 and was able to make it on time. (I placed a 2 cent trailing stop on it and let it self-destruct.)

  • Gerbil_gold
  • WTFed

    Mole? hahahaha!

  • Nightwind

    A little Louisiana Blues (not the Mannings) http://www.youtube.com/watch?v=ee735pZ6kxk

  • tradejane

    Not today, I used up all my lucky points.

  • Tronacate

    ^^^^^^funny

  • Tronacate

    LQD taking a little beating these days

  • http://oahutrading.blogspot.com/ steveo77

    Bill Gates and Bono in Honolulu….well at least they were at the next table…that kind of counts.

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    I've been quite awol in the desert, sorry for the lack of posting, etc.
    I see Xman mentioned the Sprott article; will post something here now onthat as a comment cleaner and subject stimulator;
    …then i climb back to the rocks and forget all this; decompressing here

  • Shaka_Zulu

    Project Mayhem has a post up on ZH today that also references the Sprott allegations of QuEasyGate. That posts references the FOFOA blog that has an interesting comment about the “Reston 6.” Just throwing this out there for future research and discussion.

  • Tronacate

    Personally…….I would like to join Tiger for his dinner fare…….smorgasbord

  • Tronacate

    Bill Gates and Bono…….quite the combo.

  • Gerbil_gold

    what's harder?
    bouldering or trading?
    http://www.youtube.com/watch?v=kA4We4QY9Sg

  • Shaka_Zulu

    Yeah, he's ALWAYS had that look. Just who he is, I guess. It's a pity you can't eat at that dive anymore. It was “Uglesich's”, a local's favorite and probably not in any guidebooks. They closed the restaurant, but apparently they still do stuff:

    http://www.uglesichs.com/

  • http://oahutrading.blogspot.com/ steveo77

    Yeah, makes you realize something ain't right in the world.

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    slow to load – will need to chk later

  • Tronacate

    POLL

    Will CROX exist in 2011?

  • AudioTactics

    I see…

    Thx for your thoughts.

    Looks like I missed a good entry already – sometimes I really hate this job! haha

  • Me_XMan

    Yes.

  • Tronacate
  • Me_XMan

    Is Karl making a market prediction? SPX 210?
    Take a look at graphic on banner.
    http://market-ticker.denninger.net/

  • Nightwind

    You have a good eye. It is also known as supriminal inbedding. Its a close cousin is subliminal masking.

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    New Post
    Post New Post

  • bubble jeopardy

    If nothing else, it makes for good day dreaming. My concern is that there will be no one on the other side of the trade liquid enough to pay off the shorts.

  • wex

    I loved that place. Why did it close?

  • raised_by_wolves

    What's that? Good moderation? With my constant absenteeism, I've let the forum go to hell, huh?

  • raised_by_wolves

    What's that? Good moderation? With my constant absenteeism, I've let the forum go to hell, huh?




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