The USO closed below its 200-day moving average for the first time since July 30th. Sagging oil doesn’t say much for the strength of the recovery.
The iPad had better not be another Newton or AppleTV. If it doesn’t sell well, Steve Jobs will rue the day he called it a “magical device”. In fact, people will call it the “tragical device”, to coin a phrase. You heard it here first. Google “tragical device” and see for yourself.
Of course, the way netbooks sell, it looks like the iPad will be a winner. So nobody will use my phrase – at least not on the iPad. Maybe on that Google phone…or the Kindle.
Yep, I googled that phrase and sure enough, this site came up. Cool.
Tomorrow should be an exciting day.
Before I turn in, I’ll mention a site I found called Jing. It allows free uploads and access of 5 minute movies: That includes screen capture and voice. I’m thinking of doing some of those for my trades. I don’t have a microphone yet. I’ll get one this weekend and test it out.
That will be fun.
That was fast. That Google Bot is the hardest working robot in show business.
Second waves are more likely to be zigzags than flats, expanded flats, or triangles. Thus, upon further contemplation and a study of both the hourly and daily, I favor the post-FED rise being an A wave. Futures up nicely. An expanded flat would speak more to the power of the downdraft–which requires more bearishness than appears is out there right now. Looking at the VIX, it seems the bulls remain invested in hope.
Futures Prices
Market Last Change %
Crude Oil 74.26 +0.59 +0.80
Natural Gas 5.231 +0.007 +0.13
Corn 358.25 -4.00 -1.11
Soybeans 929.0 -18.5 -1.99
30yr Bond 117.9375 -0.40625 -0.34
10yr Note 117.65625 -0.171875 -0.15
NY Gold 1093.0 +7.3 +0.67
NY Silver 16.695 +0.255 +1.53
Emini S&P 1099.75 +5.25 +0.48
Emini Nasdaq 1816.0 +7.0 +0.39
Emini Dow 10231 +36 +0.36
Get a USB microphone George… Just sayin.. Best quality no matter how cheap it is.
And thanks for humbling me so much.
All I can say is google “ipad mtv” and watch the video from 4 years ago.
Very uncreative marketing team this time around
http://www.investmentpostcards.com/wp-content/uploads/2010/01/budget-deficit.jpg
Matt, I tried to play the USO bounce in my IRA, and got stopped out. I saw the channel line, the doji, and the 200 DMA, and said: buy at $36.50 with a stop at $35.95. Stopped out in nothing flat Wednesday. You win some, you lose some. Sort of like getting 11 in blackjack. You’re going to lose some of those double downs, and they are going to hurt, but deal me 11 all day long and I’ll own the casino before long. Are you ready to short oil Matt?
JG, so you are counting wave [i] done, A-B-C (up, down, up) in the works as wave [ii]?
C’mon 1115!
Futures Prices
Market Last Change %
Crude Oil 74.23 +0.56 +0.76
Natural Gas 5.208 -0.016 -0.31
Corn 358.25 -4.00 -1.11
Soybeans 929.0 -18.5 -1.99
30yr Bond 117.875 -0.46875 -0.40
10yr Note 117.65625 -0.171875 -0.15
NY Gold 1093.4 +7.7 +0.71
NY Silver 16.725 +0.285 +1.71
Emini S&P 1101.0 +6.5 +0.59
Emini Nasdaq 1816.75 +7.75 +0.43
Emini Dow 10245 +5 +0.05
Here it is, the yin yang of market movement. The ping pong ball will once again bounce between these two points. First the moon shot, then…
http://i47.tinypic.com/2zqhh13.jpg
Feeding off of JG’s BB frenzy, here’s another look at the daily SPY with the two targets. K has been a big fan of BBs. I’ve never really given them much thought but they do add some flavor to the soup.
http://i48.tinypic.com/6zrlmc.jpg
Baltic Dry down 5% and now below 3,000.
40 Short
BB’s are fun on the 4hr timeframe.
I haven’t used my strategy recently (its been of no use since november when we started the small rectangle
and I got 2-3 signals a week). But if we start longer moves up or down it should be swell.
George, I got the popcorn out. Give me the play by play.
Larry,
Save some of that corn for me. I luv popcorn.
trend down. range 1080-1100. if broken, 30 pt move expected.
At support on SPY.
If SPY’s 5min MACD can turn up here, it will be a nice long-range positive divergence on the MACD.
-111 george. Triple triplets are back
Will we get -222 or -333? Or +333? Hmm
SRS coming close to its 15min 36MA resistance.
K,
I like your triple triplets. Keep ‘em coming.
GEORGE…unloaded all remaining 10 yr notes yest…good thing too..look $tnx is rising as stocks tank…not a good sign for bonds
I want some real butter with my popcorn.
NAS is looking pitiful, so much for the retrace up, if we don’t turn at 1085, its a longggg way to the bottom…
Yup, broke 1085 then off the cliffffffffff……………
GEORGE..also TOOK PROFITS on last 1/2 of TBT… it is struggling below 45day ma..TAKE PROFITS before they turn into losses… just in case they decide they really do want bonds as stocks tank more….lol
Okay, SPY is sitting on the weekly gap. Down to the top of whale doo doo.
I want Junior Mints with that popcorn.
GEORGE…told my wife she can work only 2 days a week now with the bond profits taken….she is jumping up and down….lol
COVERING SHORTS here….DXD bought in early november is in the black now……..HASTA LA VISTA
Phil,
Man, that’s a success story if I’ve ever heard one! Great.
Trade that popcorn for Moon Pie and RC Cola.
GEORGE..if the bonds went the other way i would be crying for 10 years
phil,
But the difference is… you know what you’re doing: Not guessing and putting the odds in your favor.
If I was short, I’d be covering here. Get enough of them and that’s a reversal of some sort.
I’m going to bed with them George. See you tomorrow.
Okay Larry, nite.
Door to SPX 1050 open. Will it make it on
this move? Only Junglegirl knows.
George,
FAZ has had a nice scalp move today.
Paula, thanks.
I normally track FAZ but I haven’t in the past couple of weeks. I’ve been loading up on the great SPY/Counter-SPY moves.
I’ll check it out.
Good Grief, seems every other day there is a bond auction.
SPY nearing its 15min 36MA resistance. Looks strong.
Phil,
Nice trade on the short dow, was in the trade myself but closed out in Dec .. not sticking it out like you did. Its awesome when conviction works out.
BOUGHT another 1/2 long @ SPX 1086….looking for 1100
SAM.. thanks….it wasnt much but better than losing
MIGHT make 1100 by close …will be bailing out by then
Phil, it just might .. Ben’s confirmation has begun .. markets gotta respond nicely to the old chap making it.
Small block traders are buying into the decline since it began. So far, large blocks not.
SAM…looks like they gave BEN the bronx cheer…..lol
The support for Bernanke among the American people is 1 in 5 support him. Granted that we are probably not qualified as a financial group to determine these matters, but my guess is the senators aren’t either. So if these folks are suppose to represent US, how to they renominate Ben when only 1-5 support him.
String
String,
Right on.
Phil .. maybe tomorrow 1100 on SPX.
Stringm .. with all that is going on, i want to return to ignorance!
Paula
I plan to vote against every incumbent for the foreseeable future. Perhaps in time they will see what is wrong with the plan.
String
Will see if my 8 day cycle works this time.
When we get a reversal off of a top, I
like to see a tradeable bottom 8 trading
days later. If (?)it works this time, we will
see a tradeable bottom at the market
close tomorrow.
String,
You can count on us doing the same…
and trying to get everyone living around
us to join us.
We need to twist K’s and George’s arms.
Count me in. And here I thought I was a constituent; silly me.
Sam
I would like to return to some honesty and integrity with elected officials, but that is pie in the sky. It has been a long time since they represented us and not their pocket book. I feel that will be our undoing in time. I am as guilty as anyone on not condoning, but ignoring the graft and corruption. We seem to just tolerate it, even make humorous movies about it. Noah’s Ark, and Eddie Murphy’s Mr. Smith. The older I get the more troubling it seems to be though. It takes a lot of work to be involved in change, but I now feel like it must be done. I am lazy, but I plan to be more involved. I have written many times to my Representatives on various subjects. Jeb Hensarling doesn’t seem to get it though. He came out against the bank tax. Said it was beyond ignorance if we expected banks to lend. Well I’ll tell you what. If I can borrow money for 0% and get 3% for treasuries, why would I lend money for a condo/shopping center development. The banks aren’t going to lend, so tax them. Guess what!, ole Jeb IS an incumbent.
String
twist my arm? hardly! at your service!
them bastards!! bennie should have been out
latest rumor is that the IMF is prepared to bail out greece lol
just for kicks i ran my old SuperK system..
SPX, INDU, COMPX, QQQQ, SPY last sell signal on jan 20th!
YIKEs
FAZ Buy on 21st, SDS buy on the 20th.
hmm me thinks its time to refine it a bit for ranges and use the original for trending.
I could have gone short last Wednesday if i preached my system religiously
Super K needs to return. So what if it has some worts, it’s another piece of puzzle solving.