Now Reading
Living Inside a Broken Clock – Thursday, Dec. 10, 2009
332

Living Inside a Broken Clock – Thursday, Dec. 10, 2009

by The MoleDecember 10, 2009

by gmak

With rampant unemployment, it seems that the last stimulus has funded, among other things, on dinner cruises, golf courses, puppet theaters, and stimulus road signs.. Meanwhile over 3 milion Americans have lost their jobs, not counting the illegal landscapers, carpenters, brick layers and so forth who now weigh down the economic safety net.  The bond vigilantes have turned their dead pool eyes on Spain and other European nations. The silver lining is that this may leave more funds available for Tiny Time to scoop up in the massive Treasury Auctions that are in the cards over the next two weeks. Yesterday’s 10yr auction was less than stellar but with the smell of gunpowder still lingering from that shot across the bow, the good ship USS Tiny Tim ploughs on. Tick tock. Tick tock.

EQUITY

The most interesting thing, apart from Mole’s zero fractal, is that SPX bounced (once more) on the 1086 trampoline. Sooner or later it will stretch and rip (like my gazebo under the weight of sodden snow – although that even bent the metal frame) and SPX will “all fall down”.  RIght now, I’m more interested in seeing how high this bounce goes before it fades. ES is up this AM, but so is DXY. By the pricking of my thumbs……

If you played the low risk bounce on SPX with a stop below 1086 – then you scalped 5 – 10 points. IMHO, this is one of the few ways to play the market right now. Pick a spot and trend, pick your stop. Walk away if you’re proven wrong.

It’s beginning to look a lot like… Yesterday. Asia was red, but Europe is green.  Notice how the DAX also bounced off of it’s intermediate support line – but there is not a higher high yet. That is the key on SPX. Watch for where the turn comes, as gravity’s rainbow shows the way down.  I would pay attention tot he horizontal white line on the daily SPX chart that begins Nov 15 (bar number eight) It is the bull’s analog for the dashed green line of support. For pre-market, DAX = 5700ish is, IMHO, a clear indicator of momentum. Moving above it on a 30 min chart would suggest, to me, that momentum is now up for a few days (at least until the next auction results, surprise country downgrade, or *shudder* debt default).

ES ramped up into the close yesterday – ah, memories! But, it only got a bid when Europe opened at 3AM EST.  Well, I would suspect a growing feeling that Greece will not be allowed to default as helping. Because the eco-data out of Europe this AM was not stellar. German WPI was up 0.7% vs exp = 0.3% and -0.4% prior (all MoM) – which might lead some to conclude that there are pricing pressures which relates to economic growth (the other choice is that low inventories push prices up short term whenever there is a small bulge in demand or inventory replacement). ES pivots:

  • R2: 1105.25 =  previous support for Mon and Tue.
  • R1: 1100.50 = Current psychological barrier that pre-market bulls want to get above and use as a consolidation point
  • Neutral: 1092.75 = Bounced off of here a few times overnight.
  • S1: 1088 = Acted as support Tue and Wed.
  • S2: 1080 = Probably would confirm that SPX is decisively below 1086, no?

 

FX

DXY is still playing ‘bouncy-ball’ with that white line local high. It is consolidating here, IMO, and should eventually continue up – but a catalyst or two is needed given the sheer volume of USD bears. Where is that last feather to tip the balance?

EUR is forming its own bearish flag, having ripped through its purple dashed support line. That line is now resistance above. Look closely at the pivots for today – the action is quite wide across them but it looks like the neutral pivot can be used for scalping either direction.

 

 

NEWS

Notice that China is firing another salvo in the trade wars skirmishes that seem to be happening with more frequency.  Brazil is now pushing the “stimulus” game as more and more exporters are forced into a “beggar thy neighbour” push.

 

DATA

Trade and Jobs. Two very important numbers. News may not be important to some (hah!) but the markets’ reactions sure will affect your P/L.

What a fine kettle of fish we have (goodbye and thanks for all the fish?). USD is stronger and so is ES. It looks like the US strength may not be. CAD, EUR, and GBP are all up. Only JPY is weaker (sorry CHF and other DXY currency that I don’t know – I don’t look at you). GOLD is down a bit more but I think the “johnny-come-lately” types have all been squeezed out on the fall. It could find a bid now. OIL is up a touch, trying to stay above $70. I wonder what price torpedoes all those tankers and storage ships at anchor all over the world?

I’ll re-iterate for those who aren’t clear on my mind. The only way to play this market is to pick selected entry and exit points with very well defined stops. Of course, if you like spending Theta like FRNs, its your money.

Cheers.


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c

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

    thanks GMAK

  • gmak

    I'm watching EUR on the 3min. It is finding strong support from its lower bollinger. As well that 1.4725 pivot seems to be quite strong (it was resistance before and now is support). EUR appears to have bottomed for now with the lows around 1.47. On the 30 min chart, I do see a gentle upward trend beginning with higher lows, but the higher highs aren't really kicking in yet. Sounds like a bearish flag to me (even a wedge).

    I don't think that EUR can be used to play ES right now.

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

    it is one of the hings pressuring Equities, PPT can only do so much (i.e. hold against minor moves and use a rebound to get to safer areas)

    If it realy breaks, we have our party

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

    SSHamster signing off

    left some interesting things on my recent comments (click the avatar)

    1. a simple EWT miniguide (repost)
    2. a fearful scenario that comes from 3 weeks ago (repost)

    see you all latter (RBW, take over ASAP)

    best regards

  • ultra

    Cheers, G. An erudite start to the north American day, as per.

    Here's an interesting stat – last year, the UK spent more on nationalising its banks (£289bn) than it did on food (£160bn).

    [h/t – order-order.com]

  • ultra

    Yep, € is in a down channel this week. Might be worth a quick long scalp if we get a break out of this channel line.

    http://screencast.com/t/ZThjMjQ0Mm

  • gmak

    tsk tsk There is no tooth fairy. There is no boogy-man. There is no PPT. There is only liquidity that, once it leaves the bucket, is beyond the control of TIny Tim and BenDover to control. Equilibrium, water levels, and dissonance physics determine what will happen and there is not enough memory to contain all the data needed to model that ripple through the financial markets – we can only watch the whales break the surface and try to guess what lies below.

    (wow. poetic. heh.)

  • standard_and_poor

    Morning rats.
    7% short with tight stops.

  • tradejane

    Thank you for the update, gmak. I just know that one day wsj or ft.com will stumble upon your column and snap you away from us.

    I see I came back just in time to start a short on the DAX… 🙂

  • insite

    thangs GMAK

    wow; DXY did not like that jobs news. i'm long today & will be short going into tomorrow's retail sales numbers. i think we bounce off that 'wall' on SPX (around 1112) and gap down tomorrow on horrific holiday retail sales numbers. (mole – i agree that news doesn't matter, but it can be the catalyst, accelrating that which was already going to happen)

  • marcopolo101520

    NKE short if breaks 61. Target 57.5ish. Otherwise 64ish (now at 61.95). Scalp trade. Pre-market +.05

  • marcopolo101520

    http://www.bloomberg.com/apps/news?pid=20601087
    GM’s Buick-GMC Chief Said to Leave Eight Days After Being Hired

    Does he have a package? Must very smart or very scared or maybe both…strange a lot of people bailing out…

  • marcopolo101520

    disclosure: out of EDZ – yesterday

  • marcopolo101520

    I expect an up day, maybe 1-1.5%. PM should bounce too, should have got into those PM mutual funds from Vanguard for my 401k last night for a scalp. insite might be on something for Friday tough. M is crazy with their sale of the season…

  • Nightwind

    Expecting spx bounce and dollar to correct. ES looks like to have formed a small IHS bottom on hourly with a measured move to 1110 area.

  • gmak

    Shrinking trade deficit would be bullish for USD in a normal world. BIg volumes (for this time) on ES are dropping off. LEt's see if the pivot at 1100.33 now becomes support and holds.

  • marcopolo101520

    Interesting…some lenders do not even complete the foreclosure process or record the outcome of foreclosure sales because the cost of foreclosing exceeds the value of the property. see http://www.federalreserve.gov/newsevents/speech… 2nd paragraph regionals matter (or mater?)

  • standard_and_poor

    Dammit where's everybody today?

  • standard_and_poor
  • killertrades

    In reply to Virginia Jim
    For Carolyn and Elidias etc to say “no crashes this time of year” is a Classis Black Swan statement . It hasn't happened before so it can't?? Come on. I'm with you Jim , I think it is very probable very soon. Jan? Maybe, Right now? Maybe.
    Joe

  • marcopolo101520

    Proudly farmed and harvested in Detroit, USA wrote yesterday on my potatoes.

    Several community organizations in Detroit, for instance, have joined together to promote an urban farming initiative that not only reclaims abandoned properties but capitalizes on the growing popularity of locally grown food. Detroit's Garden Resource Program provides hundreds of home, school, and community gardens access to resources and information that empower residents to grow, harvest, prepare, and preserve food in their backyards and neighborhoods. In 2008, the program supplied over 169 community gardens, 40 schools, and 359 families with seeds, plants, and training that produced thousands of pounds of food inside the City of Detroit.

  • Schwerepunkt

    I see large green volume spikes in ES this morning;a couple 25K bars on my 89-tick chart. That's big. Is that big boys buying or tutes offloading? Euro is coming back down from the highs in meandering bars. We could get a pop on the open based on those big green bars IMO. I have R2 at 1105.43. R1 at 1101.12. Main pivot way down just above 1093.

  • marcopolo101520

    these are perverts, I agree

  • marcopolo101520

    GD for longs

  • Gerbil_gold

    Mole told everybody to close shop and go home, didn't you get the message? 😉

  • standard_and_poor

    I assume Prechter is still 200% short – anybody have info? – just curious.

  • standard_and_poor

    Doesn't sound like the workoholic I know. LOL

  • Nightwind

    The strange thing about EWI is that you only get that recommendation from the “Theorist”, but its never mentioned by their STu or short term updates. I'm sure if he is right, he'll crow about it. If he is wrong, then nothing will be said.

  • Duuuuuude

    Sooooooooo……… We open higher today. What else is new………. it has done this every day the past week. http://screencast.com/t/NDRkYWE3O

  • gmak

    On the other hand, there is no follow through after the jobs report. Looks like it was just squaring of positions based on short term bets. DXY is coming back.

    I think that the 30yr auction today might have something to do with how the market behaves. The expectation is that the IBs will step up to the plate and have to eat more than they might want.

  • mtvernon

    XOM is somewhat interesting, how many former big cap leaders are trading below their June highs?

  • I_got_Prechterized

    what are you talking about? It's called the President's Working Group on Financial Markets. It's comprised of various entities including the Fed. I'm not saying they're responsible for this rally, but if you think the market has been trading without outside influence for the last couple years, you're only fooling yourself.

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

    dual purpose video
    1 get into trading rhythm
    2. that is what awaiting bankstas and gavstas

    http://www.youtube.com/watch?v=mQkFxfyHgMk

  • WTFed

    Thanks gmak. you could sell this stuff.

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

    hey, as long as we expected it … and traded accordingly
    http://trading-to-win.blogspot.com/2009/12/end-

  • WTFed

    He hasn't said anything since. The short term guys are convinced the dollar has bottomed, but not so certain we won't see a slightly higher high in the indexes before it's all over.

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

    why would he change his stance – market still range bound and all he has to do just roll and lose cost of carry

  • WTFed

    Are you farming there?

  • Rightside_ot_trade

    gmak, man these premarkets!
    the tone and the content; technical, poignant, and amusing
    thank you

  • CorporalCarrot

    It certainly looks like all bears are going to get slightly prechterized today.

    It seems that stengthening Dollar produces moderate falls in equities while the reverse produces a stronger reaction.

    I am worried also that if you look at the longer dated chart of the S&P, the bollinger bands are narrower than they have been in well over a year. I think this portends a move shortly, probably to the upside. We haven't retraced much of the most recent drive, and while a longer dated chart certainly seems to illustrate waning momentum, the longer we stay here without falling, I would imagine is bullish and implies a move to the upside.

    I would not normally have that concern, but the thinness of the market is worrying……..its not difficult to imagine this being moved upwards easily.

  • HungryNewt

    That's awesome. It's great to see people learning how to grow their own food. It's much cheaper & healthier.

  • marcopolo101520

    agree, not a bad skill, plus you learn and appreciate the value of food.

  • marcopolo101520

    under snow? no man, not yet, plus I guess there is legislation (HOA) passed to stop me from doing this

  • fuw

    I'm thinking the same thing. If nothing happens to the downside soon then we will probably shoot back up and retest the highs.

  • I_got_Prechterized

    Hey, I have a copyright on that term! Please paypal me $1 each time you use it.

  • CorporalCarrot

    It was a tribute to you mate, I saw you posted earlier. I thought you would like it 🙂

  • marcopolo101520

    check SPX since last month, we are same place, but we have been higher in the meantime

  • marcopolo101520

    stop lolipoping people, have a good day making money

  • Schwerepunkt

    Another reverse repo operation today; closes at 0940h. One of these days, instead of a test, they'll just announce a full-blown RR op and let the chips fall where they may.

  • CorporalCarrot

    Eh? Have you seen any of my posts the last few days? ffs

  • marcopolo101520

    what is ffs? something good?

  • Gerbil_gold
  • Schwerepunkt

    Are you feeling paralyzed and fearful?

  • gmak

    You're welcome.

  • sloth_bear

    Thanks Gmak for your broken clock

    I just played with fib fans and twisted everything to meet my needs:
    http://www.screencast.com/t/YzhmOTZlN
    Nothing serious 😉

  • gmak

    Soon as I finish getting those eskimos to buy ice boxes. 🙂

  • marcopolo101520

    LOL
    FFS! Shut up, woman! Just don't let him carry you down the stairs when he's drunk and you'll be fine!

    You go first CC, thanks GG

  • gmak

    Hmmmmm. So why did the market crash to 666?

  • gmak

    The outside influence? All trading is outside influence.

  • marcopolo101520

    what is 225,000,000 these days? change really. I would love to play with that tough.

  • Schwerepunkt

    These are just “test” operations. When the real thing goes down it will be tens of billions.

  • gmak

    That's pretty cool. How do you pick the future point and do the reversal on the fans? I though they only worked going forward from a historical point?

  • Gerbil_gold

    2015, that's a lot of popcorn.

  • CorporalCarrot

    Glad now I trimmed some of those shorts a couple of days ago…..it initally looked early but now it looks wise. Just nibbled a bit short there, Dow 10,432 and FTSE 5,248.

  • gmak

    Is there the sound of a rubber glove snapping just before? Pretty soon just the sound will produce the reaction, a la Pavlov. 🙂

  • gmak

    Is there the sound of a rubber glove snapping just before? Pretty soon just the sound will produce the reaction, a la Pavlov. 🙂

  • marcopolo101520

    R2 at 1105.43 history?

  • Schwerepunkt

    seems to be hugging that pivot. We'll see.

  • I_got_Prechterized

    Hmm, big cap financials can't seem to rally today – GS, JPM, and WFC flat to down. What to do? I can't seem the pull the trigger either way. I'm looking to get long the dollar here.

  • Nightwind

    Strong up move with internals backing it up

  • CorporalCarrot

    Gmak,

    You still suspect a serious downmove imminent?

  • marcopolo101520

    i see and I can not belive it!

  • marcopolo101520

    they will turn it around 30min before close, C is in such a great position now after paying TARP and getting rid of those arabs

  • tradejane

    Banks are not blessing this move. SKF with a stop of 24.7 + German bank short.

  • CorporalCarrot

    I posted previously that I think we are in no mans land here. Theres no clear direction either way. SPX has been locked in a rectangle for 4 weeks now. The only clear signals seem to be to sell above 1110 and buy circa 1085-1090. If I wasn't already committed, I would wait for a close above/below that range before committing.

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    Nice post gmak!

    Breaking news:

    “Tax Officials Detect Widespread Tax Fraud In U.S. Middle Class”

    http://outsidethe-cardboard-box.tumblr.com/post

  • Schwerepunkt

    short ES 1105.25

  • rikardo_kurvio

    10440-10450 area on YM and showing signs of comfortable short entry for today

  • mtvernon

    WFC having a bad hair day.

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

    Curencies not moving w the stock indices; just like early the 4th
    …bad sign ?

  • CorporalCarrot

    Added more dow short 10440. I think this move will fade. EURUSD dropping back from 1.4760 resistance.

  • I_got_Prechterized

    come on, they can't totally control the market, only influence it at key times and pivot points. It's pointless arguing this as neither of us can prove anything.

  • gmak

    There's a shocker. Wonder if its true or just IRS imagination in order to justify tax grabs.

  • Gerbil_gold

    it's a parody. check out the Timmy Tax further below, got to get that for Spring!

  • sloth_bear

    I was simply using the tools to connect the lines, trying to find convergences, I know it's a really twisted method, but that's often what leads me to find invisible channels, convergence points,…
    I try to use TA in an intuitive way (Because i'm not knowing a lot :-))

  • I_got_Prechterized

    Anybody short the long bond? Seems like yesterday's weak auction put a scare into the treasury mkt.

  • Rightside_ot_trade

    nor the precious metals

  • vision_invisible

    The Fed has 400 traders now, up from 200. That is a $800Million operation. You really think none of them are trading the markets?

  • Gerbil_gold

    shhhh, don't tell anyone, you may have accidentally found the HOLY GRAIL. 😉

    http://daytrading.about.com/b/2008/11/09/the-ho

  • gmak

    Imminent? Depends on what you mean by imminent. I've said that I think SPX has to get below that 1086 green dashed line – close below and have the next day open and close lower, before I would believe that a top COULD be in.

    For a trend reversal,SPX needs a lower low – which would be below the ow of Nov. 2nd of 1029.33 – he bottom white dotted line on my chart runs past it (daily SPX).

    I think the market looks tired and correlations are breaking down. For the serious downmove, correlations would have to go to1 – just like in the last crisis. The top is wobbling – but still spinining.. Any other analogies I can hit you with? 🙂
    Cheers.

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    LOL…sorry gmak, it's a spoof based on a real case – the IRS audited a woman for a year (see link in post) for being too poor to afford to liive in Seattle……

  • marcopolo101520

    they finished the big fish, now moving into middle? they are desperate..

  • Schwerepunkt

    ok, let's test the Es pivot at 1101. If that fails, main pivot awaits at 1093. Need Euro to drop below 1.473 for that to happen.

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    hey marco,

    Seems to me liike they're gonnna gut everything from the middle down….not gonna touch those banker bonuses though….

  • gmak

    I got that….. now. But my point still remains – is this the begining of an IRS putsch looking to squeeze the turnips that can't fight back. All of your phantom FRNs are belong to us! 🙂

  • Nightwind

    The rich can fight back, normally the middle class will rollover for the IRS.

  • marcopolo101520

    sick, I have to get receipts for everything now…heard so many stories of people with small business on the side charging imaginary expenses just to reduce their taxable income…

  • Schwerepunkt

    I thought that only happened in turd world countries?

  • texpresso

    yesterday Bove said they need more working capital, about 1 billion more shares worth

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    A follow-up spoof I'm noodling on in my head is “Tax Planning For The Homeless”…..maybe a duct tape tax credit……

  • marcopolo101520

    people are the same, entrepreneurs

  • texpresso

    wow, that is funny. wait, was it supposed to be funny…

  • Schwerepunkt

    I know, just joshing. I just get a little peeved when Americans spout off about corruption in other countries without addressing their own corruption issues, and they are LEGION.

  • mtvernon

    and AAPL contained by the 20 dma

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    I think the trend of Institutional Bullying of the little guy is accelerating – consider the 30% APRs recently….the massive Federal transfer of wealth…..it's sickening and will likely end badly

  • Schwerepunkt

    Euro falling down now to Woodies main pivot at 1.473.

  • marcopolo101520

    1102.change

  • Gerbil_gold

    yes.

  • I_got_Prechterized

    Ok, got long the $USD here. Now for the real squeeze. The last week was just a primer. Time to unwind all the carry trades.

  • Schwerepunkt

    30-yr rising. 4.81 from 4.71%

  • Cypherd

    BBY looking like a good short. Earnings are next week though. Might just wait til after to position myself.

  • CorporalCarrot

    Understood, I feel the same but am just cautious because of recent experience.

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    Actually, the REALLY RICH own the game. The KINDA RICH ( < 100 Million) are just going along. THE RICH (<10 Mil) are circling the wagons. The WEALTHY (<5 mil) are hoping things turn around. The WELL OFF (<1mil) are praying things turn around and everybody else is SCREWED….

  • Tronacate

    I knew that 11000 unemployment number last time was pure foolishness…….

  • marcopolo101520

    whre you at?

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    northeast MN

  • Tronacate

    ^^^^^^truth……..similar to events preceeding the French Revolution……

  • marcopolo101520

    God bless you evil funny rat!

  • centerline

    Spot on.

  • Gerbil_gold

    based on that math, i'm definitely KINDA RICH cause $5 is less than 100 Million. 😉

  • marcopolo101520

    right on!

  • Nightwind

    Ok guys, use TCA stops on these whipsaws. TCA “Tighter than a Crab's Ass”

  • Tronacate

    Futures run up was interesting.

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    OFF WITH THEIR FREAKING HEADS!!!!!

    LOL….I've been kinda feisty lately….I got kinda riled up over the Neel Kashkari piece in WaPo over the weekend. What a bunch of shit:

    “Extreme Makeover: WaPo Edition”

    http://outsidethe-cardboard-box.tumblr.com/post

  • Tronacate

    Town I live in is so desperate for jobs they are entertaining a private prison…….jeez

  • mtvernon

    BAC 38 cents away from breaking deal price. When it happens I will have a pretty good laugh.

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    I'm RICH in other ways….um……..give me a minute………..um….I'll have to get back to you..

    😉

  • Nightwind

    My Uncle (who lives in Arizona) always said that the only thing America should farm out to Mexico was our prisons.

  • CorporalCarrot

    I wonder folks the irony of this; when the unemployment numbers are discovered to have been bogus, will we have the reverse of last friday?

    i.e. massive gap down in equities, followed by a huge ramp as the dollar tanks and the risk trade gets back on?

  • Gerbil_gold

    check the sofa cushions.

  • Tronacate

    That's where I live……..economy is in shambles

  • WTFed

    Prechter. haha!

  • Tronacate

    ^^^^^that's what it's gonna take…..

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    …a couple popcorn kernals and an almond…..WOOHOO!

  • I_got_Prechterized

    Ewww, Timmy makes my skin crawl. That guy seems as shady as they come. I feel ripped off every time he speaks.

  • Tronacate

    He probably got beat up alot in high school……nerdy prick

  • Gerbil_gold

    DOW 10391 – yer a genius.

  • Tronacate

    BAC is truly on a roll here…….

  • mtvernon

    Timmay looks a little frightened this morning right? Maybe Elizabeth Warren will kick his ass.

  • sloth_bear

    HOLY SH.. 😛

  • Tronacate

    I like Liz…….she needs to kick some ass

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    same here….wanna put on a hazmat suit the minute he opens his mouth….

  • marcopolo101520
  • Schwerepunkt

    Tim was born on Romulus.

  • Gerbil_gold

    she can spank my…oops nevermind!

  • Tronacate

    Tim was “hatched” on Romulus

  • marcopolo101520

    Liz is not like Meredith tough. M is nice, inviting but delivers the punch right in the balls like Erin. Sorry Tiger!

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

    gmak, watch the gap ups, once it happened, two it's coincidence, three it's cnspiracy, 4th, 5th, etc etc ad nauseum is a modus operandi

    watch spx vs spx:gold, watch the gaps, watch what happens AH and VIX… sorry, but the boogy-man and god's angels are there, all wrapped up into one market maker with intent, some knowledge and lot's of ammo.

    being skeptical is ok, but against an winged elephant in the room playing harp and singing hossanas… pleeeaaaase

  • I_got_Prechterized

    Here comes King Dollar!!!

  • Tronacate

    She's actually kind of hot for an intellectual type……..probably pole dances for spending money

  • Tronacate

    She's actually kind of hot for an intellectual type……..probably pole dances for spending money

  • Schwerepunkt

    below 1100 and we will accelerate down.

  • Gerbil_gold

    that explains your pink underwear!

  • Tronacate

    caught me

  • marcopolo101520

    got an email titled: 10 more jobs for you…
    no way, 10 only?

  • texpresso

    Liz is a grandstanding jacka$$, hearing her talk about small biz is a joke, as were the finance tirades that made her famous. she is not a friend of sm biz.

  • Tronacate

    And I wear genuine Mormon stuff from Mitt over that

  • texpresso

    sexy, yet tasteful

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    David Rosenberg, Uber Bear

    Out w/his morning note:

    “The defining characteristic of this asset deflation and credit contraction has been the implosion of the largest balance sheet in the world — the U.S. household sector. Even with the bear market rally in equities and the tenuous recovery in housing in 2009, the reality is that household net worth has contracted nearly 20% over the past year-and-a-half, or an epic $12 trillion of lost net worth, a degree of trauma we have never seen before.”

  • https://evilspeculator.com molecool

    This is actually a very interesting chart for various reasons. One of them being that the shape of the entire c wave according to your chart matches a flat, which is exactly what I am expecting.

  • marcopolo101520

    agree, she is an academic first

  • Tronacate

    I would suggest it is WAY over that combined with salary destruction…….

  • texpresso

    timmy is right, we do not want his dirty money

  • Tronacate

    I like Elizabeth Warren……slip those glasses off and have at it…….

  • https://evilspeculator.com molecool

    Ignore the fact that we are pushing up yet again. The cracks are everywhere and this wobbling but spinning top will soon wipe out.

  • texpresso

    FNSR oversold RSI, should pop soon

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    could be….i know mine has declined somewhat……like 100%…hehehehe

  • Tronacate

    Shit…….it's more like 60% around here…….combine that with no income…….hard for people to accumulate assets on unemployment benefits.

  • https://evilspeculator.com molecool

    Don't give him any ideas – are you loco? :-/

  • Gerbil_gold

    AND it lines up with several spiral calendar predicts, aye Caramaba!

  • Schwerepunkt

    Come on, rollover. Damn, go for a cup of coffee and ES jumped 4-pts.

  • texpresso

    some of my specs are digging deep into oversold, i am expecting some nice pops today and tomorrow, IMO stay away from TZA EDZ etc short term

  • https://evilspeculator.com molecool

    Hochberg writes the STU and unlike Prechter he's only an academic. I doubt he's got any skin in the game at all.

  • http://outsidethe-cardboard-box.tumblr.com TomOfTheNorth

    Apparently I've left the workforce……

  • Tronacate

    Some days are so slow…..I feel unemployed

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

    nopes, condom…XL

  • Tronacate

    Citigroup shareholders are balking at the huge stock offering…….duh….I wonder why?

  • cramar

    Let's see…I go away for two weeks vacation and what has happened? Absolutely nuthin'. Like I never left! Just like 6 months ago, I'm still waiting for the inevitable 3rd-wave down. “It has to be close.” But wait…I said that 6 months ago! Maybe I should go away for 2 years. By then maybe the market's disconnect with fundamentals and TA will be gone.

  • fuw

    medium term Euro/usd (30min):

    http://www.screencast.com/users/fuw/folders/Jin

    parallel lines are our friends.

  • Tronacate

    BAC 15.21
    lol

  • Gerbil_gold

    I vote for 2 years, who's with ME? 😉

  • Tronacate

    I knew they were a pos when they took the tarp money and changed out all their signs…….new atm's…..software……what dipwads

  • centerline

    Would be neat to see how this lines up with Martin Armstrong timeframes. I might have to go check that out myself.

  • weasel_whisperer

    I think it'll get worse. I use to make $50 an hour as a consultant and have been unemployed for a few months. I figure I can go work at McDonald's or Target for $7.50 an hour, or cut my consulting fee to $15 an hour. The latter means I can still pay my bills and I also get to keep my skills current.

  • sloth_bear

    The lines are roughly drawn because I'm using freestockcharts wich is really imprecise… If you use a better trading platform and you find a more precise way to connect the “dots” you will certainly arrive to a different date

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

    the horror! the horror!

    these are the moments we all suffer

  • Gerbil_gold

    seriously.
    awesome job. I commend your forward analysis.

  • http://iberianviews.blogspot.com/ catracho

    http://www.businessinsider.com/here-it-is-the-a… not sure if it's been posted before ..but if true could be the proverbial “spanner in the works”

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

    no rest for the wicked… evil=wicked

  • Schwerepunkt

    SPX stubbornly holding above 1100. Need a breakdown soon.

  • gregn

    Update on downtrend line from end of '07: http://screencast.com/t/ZmFhZmVhZG

  • Gerbil_gold

    quick! whip us up some ratio charts will ya?

  • Gerbil_gold

    quick! whip us up some ratio charts will ya?

  • gregn

    This is what I said yesterday: “Looks like we may be repeating fractal from Nov 27th to Dec 2nd. A confirmation of this would be a gap up tomorrow over 1097.” I hate being right.

  • sloth_bear

    Thanks mole,
    You really gave me the taste to do twisted charts and you opened my mind to a completely different way to perceive things…
    As you can see all your work is not vein 😉

  • Nightwind

    Triangle forming on indices…breakout direction?

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

    it wasn't supposed to form a triangle 😉

  • Me_XMan

    Careful.

  • mtvernon

    What a great quote from Matt Taibbi “Our economy is so completely fucked, the rich are running out of things to steal” Is there no better description?

  • Nightwind

    I'm looking at TNA……..forming a triangle and a possible H&S on 5 min…….could go anyway

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

    FUBAR

  • CorporalCarrot

    The question is; did you act on your own prediction and did you make money from it, or are you really saying I hate myself for not acting on my own advice 😉

  • Offtimer

    This trendline break @ 200MA is what the market is waiting for to collapse, if not today then tomorrow.

  • gregn

    I did not act on it, I really find no pleasure in making money on the long side of a trade.

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

    I like it, it seems there is a serious wall of sellers wanting this slope from december 2

  • Gerbil_gold

    excellent chart.
    can I post other's opinions?

    Admin: remove this link if i'm busting policy.
    http://www.youtube.com/user/SnP500Trader

  • The Unknown Trader

    🙂

  • CorporalCarrot

    lol thats the definition of insanity 😉

  • Tronacate

    ^^^^^^sad but pretty fucking funny

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

    describe what it's about, in a nuttshell, and I'll let it ride (don't know about mole)

  • Gerbil_gold

    SPX big picture & small picture.

  • matsou

    This last “bounce” in SPX is less than impressive 😛

    I think the market might end up under 1100, and the moment SPX is 1099 people will sell with strength!

  • Schwerepunkt

    covered my short for a small profit. That pivot at 1101 held with support from the big round number one integer below.

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

    my oh my, no lower low on equities, but gold seems to want to fall… usually it knows the WAY

  • Bart7

    Investors Intel bears drop to new record low 16.5%;
    http://www.schaeffersresearch.com/streetools/ma

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

    you have the link to stockcharts already with the bollingers and all… post them, the comment is easy, BB playtime, we can take another 1% to .99 so bulls would rather leave things either beyond the .99 or as it is parked in neverneverland

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

    GOLD realy falling, probably 1100-1110 target

  • matsou

    HS on ES between 14 GMT and 18 GMT! Potential to 1094.

  • Gerbil_gold

    http://stockcharts.com/h-sc/ui?s=$SPX:$GOLD&p=D

    5 days ago, S&P was a value relative to gold.
    13 day trend is still down.
    104 day trend is neutral.

  • texpresso

    work hard physically for a living?! those UAW punks wouldn't last a day in the oilfield LMAO

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

    amateur hour today

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

    gerbil, do the bb13 and the two 104,s or one and the bb52 as well (that last one was your discovery).

    and look again

  • gregn

    Possible month long bearish descending triangle topping formation: http://screencast.com/t/NGI0YWMwZj

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

    think so? or failled professional hour

  • texpresso

    or megaphone to ~1130?

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

    how do I know – I am just a “told u so schmuck”

  • gregn

    The support is not sloping so I do not see how it could be a microphone. Mr Vix, however looks like he is painting a megaphone bottom: http://screencast.com/t/OTkyMTAzYj

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

    I feel like one of them today

  • gregn

    I see you are still holding you AAPL shorts, what is your cutoff for that?

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

    Close over 200 today on rising vol is max pressure i will take for now.
    -Just under (and today high so far) is the 20-day MA
    -so above that is above all MA's then
    -and 200 market right there as well
    -and w vol I would be living in hope instead of smarts

    I could cover for less, but that defines my max threshold

  • gregn

    And your target?

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

    Still up on this position overall; since I covered half the day of the low
    (put back on that half too soon though, yesterday)

  • Gerbil_gold

    http://stockcharts.com/h-sc/ui?s=$SPX:$GOLD&p=D

    it's a mess, all i can tell, is the 13 day got out of hand, and it's pulling back to the 104 range. forecast: cheaper gold, support of SnP.

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

    Again,

    I don't have a target, since it depends on so much (the overall mkt, the action in aapl relative, etc. etc.)

    In a perfect storm, I'm in and out short all the way below 50/shr.
    Along the way I'll cover when it proves itself

  • mtvernon

    BAC breaks deal price then WFC can't raise dough, then XLF is fucked. most of the banking assets aren't collecting cash because it is pretend time. dont worry though, the FDIC has your deposits backed.

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

    you might find this video interesting (if you get through the accent and cold)
    AAPL http://www.screencast.com/t/ZjkyYjgzYTM

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

    gold decided to remind equities it's still there… climbing

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

    Well played, thanks

  • gmak

    Looks like Ramp and Camp on SPX until the auction- $13 bb in 30yr at 1PM EST. What sort of premium against inflation might the indirects insist upon. (split infinitive – so sue me).

    There is a gap in SPX between yesterday and today – and you know that nature abhors a vacuum (well, everyone does except babies who fall asleep to the sound when teething), so I would expect this one to get filled sometimes before Xmas (just eyeballing resistance and how long it would take to get there and back down).

    The filling will be sooner if perceptions of risk shift negatively.

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

    fwiw, AAPL made a slightly lower-low in RS, even though price made a slightly higher-low (from late Oct)

  • gmak

    Tiny Tim has admitted that the American Taxpayer will be paying for the losses on AIG, GM, and Chrysler – since the investments made on their behalf by the financial elite (scum pond effluvium) will not be recouped = 100% loss! Meanwhile, he wants to extend TARP to make sure every banksta – even the runts – are able to get their faces in the public trough. How generous with other peoples' money they are.

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

    40bil

    almost 100usd per person (unless someone baillouts other systemic risk and blows it all in a single bank)

    http://www.bloomberg.com/apps/news?pid=20601039

  • yudhisthira

    What do you think? Any short-term weakness in dollar could get spx above 110.5. That would leave an abc down from Friday and a last run above 119.

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

    hey! it wasn't your money, they printed it fair and square, your money's still in your wallet, what are you complaining about?

    p.s. anyone noticed that for serious “real world” affairs 1 bln is a lot, but when it's bank-aid time we get into funny-money mode and things start at 10's or 100's of blns?

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

    FWIW I see a lot of hourly sell signals forming into 12:30 (Trichet speech will tank the market?)

  • pricey

    Where is this being broadcast?

  • mtvernon

    This article is pretty funny. I bet the dude got flooded with dinner bets on the other side.

  • anthem

    If you read between the lines essentially he has admitted as such. However, he has been trying to be sufficiently vague and congress hasn't been direct enough to ask him that question explicitly, thereby allowing him to vague that the average person doesn't know that. . . A lot of things are sufficiently vague to deceive the average american right now. . .

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

    nopes, gold crossing yesterdays value and getting into hyperspace mode threatens the equities rise and says gold 1500 too lowd for confort

  • sloth_bear

    The 133 channel du jour
    http://www.screencast.com/t/YWRhNjFjMWEt
    Thanks PRSGuitar it's so useful!!

  • CorporalCarrot

    The EURUSD is coiling for an explosive move in one direction or another. It is spookily close to Trichet's speech.

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

    just imagine 1bil spent on war on poverty

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

    and I'm a “why, why, why, and then I have to see why shmuck” 😉

    p.s. once again hanks for the sshamster post, made me smile

  • https://evilspeculator.com molecool

    Hey folks – I have to go to yet another meeting this morning. Hopefully will be back before the close. But since everyone leaves then it doesn't make sense for me to post that late (the comment count on my post yesterday was dismal). So, I will probably post tomorrow instead – sorry – a lot going on before the end of the year.

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

    at least you had your eyes open and saw that pole coming 🙂

  • gregn

    I'll be looking forward to that post, mate.

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

    what pole? ah… that's why people say i look lobotomized…

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

    I can scrape something together 😉

  • gregn

    Another mini triangle on SPX, which way do we break? I say down: http://screencast.com/t/NWQ3ZWZlZDE

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

    good luck on your business

    and… you can always answer one or two hamster questions….

  • Gerbil_gold

    the comment count of gmak rocked. SPARTAAAAA. 😉

  • https://evilspeculator.com molecool

    Well, in the past my afternoon posts were well received. Seems now only the daytraders remain and everyone else is X-Mas shopping. Unfortunately my current schedule does not permit me to post early in the day – sorry.

    Honestly, I hate the X-Mas season – can't wait for it to be over. Never liked it – it's impossible to get anything done. And trading sucks – obviously this year is no exception.

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

    As far as a fresh post…

    ??You guys prefer a part-1 piece which intro's the subject of hedging, or a fresh, minor piece reflecting current action (which will take a little time and may not be incredibly inspired, given the tape)??

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

    note to gerbil, hamster bans depend on lots of conditions and attempts to persuade others to behave.

    mole bans depend on you pissing him off, his playground, his marbles, his rules

    he respects gmak (hell, he invited him) but the timing issue makes it painful (that and tired rats that go away as the bell rings)

  • gregn

    I prefer current action post.

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

    as I mentioned to gerbil, rats are exhausted, as the bell rings they fall like a boxer after 12 rounds

    not your fault, you have been having some excelent posts lately

  • Gerbil_gold

    duly noted.
    i'm gonna play church mouse for a while.

  • yudhisthira

    I am assuming it is a 4th wave from Weds low. Since that is my view, it'll probably be 1's and 2's from this morning high.

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

    Mole doesn't want the off-topic stuff. Otherwise this a perfect time for such a thing

  • http://kkmoney.blogspot.com kkmoney

    sweet trade – sugar http://screencast.com/t/ODcxOGYz

    Looks like its about to correct the recent move up, wave C commencing soon /SB is the futures SGG etf

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

    Nobody Xmas shops

    …maybe Xmas day, here and there; that's about it

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

    Ok, xmas eve as well

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

    do you feel inspired for current action? do you feel lucky?

    p.s. your structured posts are normaly top quality, can you add to mole's last current situation or it' limbo time?

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

    DROP THE WAFFERS!

  • Gerbil_gold

    to quote Tronocate “caught me”.

  • gsavli

    hedging. important stuff.

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

    Y, I can't solve it in one piece though.
    This is Part 1, of perhaps 4 of these (mostly an intro)

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

    off-topic? by your comment you see us diverging from the “go short” mode, hedging can be a lifesaver for many… doesn't seem off-topic

    in other times a post by mole on fib retracements and good moments to drop a bad trade might have been interesting as well, but normal nominal retracements have been abolished

  • gsavli

    figures, still more important as this tape right now, imho.

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

    (i knew it)

    (on another note, fast reading some posts it seemed someone was calling you gerbil-girl… just to make sure that when I use gender i don't mess up … nor make rude comments if it is the case)

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

    Do I feel lucky kid?
    …feel like a punk, yes

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

    Well, by off-topic I meant something like how to skin a clubbed pup seal or something

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

    always wanted to learn

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

    given the timing do a quick intro + lifesaving guide to current situation (for those who are not mad russians, crazy hamsters and amok moles)

    then you explain in detail why, why, why

  • fuw

    I think that euro/usd is looking really weak. Pull up a 4h chart and look at the bearish flag/triangle, hanging at the edge of an abyss. We are at a horizontal support area though, but considering the two-step drop we've had since yearly Dec there hasn't been much of a bounce.

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

    sign me in on that one, with practical classes, baby seal pups always wining cute contests… I lose

  • Rightside_ot_trade

    hedging, por favor

  • Schwerepunkt

    Germans not going to bailout Greeks. crossing wires now.

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

    zip it you mad russian, you might play fast lane swaping but never heard you talk of hedging, either long or short, more or less leveraged, but… do you edge?

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

    outro tuga?

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

    S&P and gold still teasing a drop…

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

    Who knows what time the 30-yr results 2b announced today>?
    thx

  • tradejane

    Results are scheduled to be available shortly after 1:00 PM ET.

  • Anonymous

    no EU country can bail out another EU country :http://www.spiegel.de/international/business/0,1518,665679,00.html

    I think that is why they all donated big time to the IMF awhile back.

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

    I might be wrong, but I feel where heading sub-1095 today

  • tradejane

    DUG and SKF agree with you.

  • mtvernon

    Just occurred to me and it is funny. AOL Time Warner merger marked the top of the dot com bubble. AOL IPO today mark the P2 give or take a few days? Yes, close enough I say. AOL already trading below deal price.

  • fuw

    I think so as well, but it's mostly gut feeling.

    Something to honour my avatar:
    http://www.youtube.com/watch?v=2KQjy02eqOk

    Tina Weymouth was cool as hell.

  • gmak

    Im replying from my email. IF you are referring to the Tiny Tim bit, (Canucks will appreciate that bit of humour – on ice), then it was a new item on Bloomberg – an update of one actually.

    ________________________________

  • Rightside_ot_trade

    no comprendo portugese

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

    glad about that, I always feel ill at ease when i make a call

    BTW, the drop to sub 1095 is a perfect catapult for a 1113 tomorrow so I'd advise on banking coin on this scalp

  • Rightside_ot_trade

    been watching this triangle with great interest. not chasing the move this morning but looking to get long at about 22.7 if it will give it to me

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

    some Talking heads CDs in my collection

  • http://kkmoney.blogspot.com kkmoney

    im taking other side, short right here at 23.18

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

    sorry, the “please” is writen the same way in portuguese and spanish… but there are lots of posting portuguese around here

  • randomwalker

    “In a widely awaited central bank decision from the Asia-Pacific region, the Reserve Bank of New Zealand announced that it is holding its official cash rate unchanged at 2.50%, although the bank did signal that a rate hike is imminent, given the improvement in economic conditions.”

    High probability short should be imminent on BNZ..

  • mtvernon

    AOL, man this is funny. I guess mini Moet bottles were passed out too?

    http://www.businessinsider.com/aols-spin-off-pa

  • Schwerepunkt

    Euro sure is weak. Getting close to dropping to the lows at 0330h. But ES is up. Quixotic. I guess it all comes down to the 30-yr auction. Maybe dollar will rise as interest rates rise?

  • gmak

    Drawing a trend line on the wedge beginning around 10PM on Dec 8, on DXY, shows that the present resistance would be at 76.18 roughtly. DXY is being well-behaved, TA-wise, and it looks to be supported by the white horizontal line in my post above. The declining trend on the upper edge of the pennant, flag, wedge, triangle – whatever you want to call it, meets the support line on the 14th of December at 11PM EST. It would probably break before this.

    Looking at the chart above in the post – would you call that a bullish flag, or a bearish wedge?

  • amokta

    hi all. which is better, interactivebrokers or optionsexpress.com (nb express doesnt do UK equity options on UK markets). I was wondering if it is worth shorting Barclays Bank (but US Barclays ADR options have low open intersest, hence need to do on UK market). Any views?

  • http://it's%20a%20secret hindyomen

    declining price channel redraw:
    http://screencast.com/t/MzA5MGIxMWY
    that's for the continuous ES contract; there's an analog channel on SPX

    imo, this is a great swing short entry
    * retest of 1100 on the continuous contract with topping tails
    * NHT on that last retest of 1100
    * failing at the weekly pivot at 1099.5
    * still holding below 50ma on SPX 60mins
    * macd bearish cross on 15s

    consider aborting the short with a 15min candle close above the trendline (2-3pts risk)

  • amokta

    Oh, i forgot to ask – Where is P3?

  • Bart7

    Bull flag on the S&P 10 minute?

  • I_got_Prechterized

    rates sure are spiking. I think the best way to play this market right now is through TBT.

  • Rightside_ot_trade

    my gut has been saying this will break down intermediate term. I think a case can be made technically that there is a descending triangle since mid Oct high with a floor around 21.90

  • bergs

    Latest from Martin Armstrong. you have to sign up for a SCRIBD account if you do not have one already. Just click on the SCRIBD button at the top of the PDF. It will take you to sign in or register.

    http://economicedge.blogspot.com/2009/12/martin

    Worth a read as he gives the bullish case for equities.

    If anyone follows him would appreciate your thoughts as he does bring up valid points. The question remains do we print new lows before all this occurs?

    Thought I would throw up my latest updated chart

    http://screencast.com/t/NTBkYmM5NG

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

    NEW POST
    NEW POST

    (thx for the help, fyi)

  • Gerbil_gold

    Sparta! (and here comes the comment cleaner)

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

    nice seeing you back bergs

  • gregn

    I don't want to read anything bullish — I will consider if we drop to 1040. Your chart is excellent as usual.

  • bergs

    Also wanted to included Nathan's blurb on the move to increase the debt ceiling. As our illustrious Gmak Pointed out in his post, three million unemployed and more debt.

    Enjoy his site as an aside to Mole.

    http://economicedge.blogspot.com/

  • randomwalker

    He called for a major correction back on 04/19 that never materialized..what is his latest turn date?

  • gmak

    Big pop in the TNX even as the auction for 30yr completes.

  • bergs

    Really not sure anymore. He gives some pretty large ranges for make or break.

    If the indicies close up for the year I would have to go with him that we will have higer highs

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

    NEW POST (where is everybody?)

  • I_got_Prechterized

    the troops have all rallied to defend 1100.

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

    Thanks nightwind.

  • standard_and_poor

    Thanks WTFed.

  • standard_and_poor

    OK, thanks David.

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