Dead Cat Bounce In Progress; Key Resistance Reached

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Thu, 06/03/2010 - 14:02 | 392308 Mako
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Possible inverse H&S there on the ST chart.

S&P ever breaks 660 and holds below for 3 days, get in your car and head out of the city.

Thu, 06/03/2010 - 14:02 | 392310 BlackBeard
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Thu, 06/03/2010 - 14:04 | 392316 ZerOhead
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A dead dog bounces too you know Ty.

Thu, 06/03/2010 - 15:25 | 392491 Cognitive Dissonance
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I read the headline and immediately though of you and cougar. You'd think Tyler and company would be more sensitive to our feline readers. I expected to see some fur flying when I clicked the title to read the comments. :>)

Thu, 06/03/2010 - 14:04 | 392317 Mr Lennon Hendrix
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Today is down right ugly.  I would not be surprised if we flash crashed.  Then again, I will never be again surprised by flash crashes.  One a week from here on out seems likely, even in the case of a hyperinflation.

"The Dow gained 300 points today, but during that route, 100 points were vaporized in a matter of minutes.  No one really minds though, as long as the numbers get bigger.  Go numbers go!" -Steve LiesMan

Thu, 06/03/2010 - 17:58 | 392791 JohnG
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Welcome to the new normal.

Thu, 06/03/2010 - 18:04 | 392809 Mr Lennon Hendrix
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It has a ring to it. 




Thu, 06/03/2010 - 14:04 | 392320 Mitchman
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As usual, one of the best analyses on the scene.  Thank you.  I also think we have a long ride down.

Thu, 06/03/2010 - 14:09 | 392329 Trichy
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S&P is still valued on the LBO model. There will not be any more LBO's. That itself will bring it down to march levels.

Does anyone know why Ben started buying at 666.

Thu, 06/03/2010 - 14:16 | 392342 Turd Ferguson
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Because he is sprung from the loins of Lucifer. It is his lucky number. 

Thu, 06/03/2010 - 14:47 | 392422 knukles
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Paraphilia hydroceleus.

Thu, 06/03/2010 - 15:30 | 392509 Cognitive Dissonance
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I had to look this one up. Once I stopped laughing I had to congratulate you on your genius. :>)

I'm not telling. Everyone needs to do their own research.

Thu, 06/03/2010 - 15:42 | 392543 knukles
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Likewise, Chapter One

Thu, 06/03/2010 - 19:50 | 392538 SMG
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I think it was just a way the aristocracy at the top of the pyramid, lets we who are paying attention know, that they are in charge and can flaunt their power.  666 is one of their sacred numbers.  Also if they put a hidden symbol out there, they believe it holds power over the people who don't know what it means. 

Thu, 06/03/2010 - 19:48 | 393060 Kayman
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Coffee breaks over, back on your heads.

Thu, 06/03/2010 - 14:12 | 392333 Hephasteus
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I wouldn't worry about those 6000 hp jobs. HP hasn't made anything but crap for 10 years. I'd worry about the million city jobs getting cut this month. Out of work police are the best criminals on the planet. With a near perfect blend of gang banger and careful planning criminal.

Thu, 06/03/2010 - 14:21 | 392359 LeBalance
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lol: "is it the police, honey?" "no, its the Ex-police!"

No one expects the Spanish Inquisition!

Thu, 06/03/2010 - 14:34 | 392390 Fred Hayek
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Of course not!  Surprise is their greatest weapon . . . along with ruthlessness.  One of their two greatest weapons!

Thu, 06/03/2010 - 14:57 | 392437 sumo
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Prepare ... the comfy chair!

Thu, 06/03/2010 - 14:59 | 392442 crosey
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ya beat me to it!

Thu, 06/03/2010 - 14:58 | 392441 crosey
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Bring out the comfy chair!

Thu, 06/03/2010 - 15:14 | 392470 Cursive
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OMG.  You have seriously just created the next Big Idea for an FX/HBO/Showtime/ AMC/TNT series.  A group of laid-off policemen turn to a life of crime and violence.  Goodfellas meets Southland/Hill Street Blues.  I would watch this in a heart beat.

Thu, 06/03/2010 - 15:32 | 392518 Cognitive Dissonance
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Can I write the screenplay?

Thu, 06/03/2010 - 15:41 | 392537 thesapein
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Could you work in a theme of good cops vs bad cops, except I'm not sure if the employed or laid off cops would be worse? I kind of like the idea of the retired cops going good.

Thu, 06/03/2010 - 15:57 | 392584 Cursive
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Oh hell.  The whole thing is rife with moral poundering.  The inner conflict of the idealistic unemployed fence rider who so desperately wants to support his young wife and child but his moral upbringing leads him to initially reject his rogue older partner's criminal schemes.  But the rogue partner's schemes gain credance with each passing day that the young idealist's hopes for another job are dashed. The ying and yang of it all with the backdrop of a new urban's so juicy.

Thu, 06/03/2010 - 15:54 | 392578 Brett in Manhattan
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It's actually a good idea for a movie. "Falling Down" except with a cop instead of a white collar guy.

Thu, 06/03/2010 - 16:24 | 392642 Ragnar D
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It's called "The Shield" and it's awesome.  They just aren't laid off.

Thu, 06/03/2010 - 18:44 | 392910 reading
reading's picture

I was thinking the same thing...the best criminals out there are the employed cops.

Fri, 06/04/2010 - 01:05 | 393802 Tapeworm
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GATA have cash for buzz cuts and steroids.

 BTW, do all cop shops have explicit contracts that forbid drug testing for the guys in blue?

 The locals here are either lardasses or bulked up like the Hulk. The attitudes vary with the body styling.

Thu, 06/03/2010 - 19:08 | 392971 Johnny Bravo
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The more out of work police, the better!

They've never done anything for me, except for try to pull me over for speeding and eat donuts.

Every time I go hang out at my friends cigar shop, there's always like six of them sitting around instead of working or helping people. 

So why should six people get paid to sit around and do nothing?  I ask the same question every time I'm on campus!

Thu, 06/03/2010 - 21:31 | 393172 ColonelCooper
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You know,  I always leave you be when you troll the gold posts.  I think your only interest in them is kind of mean spirited and fucked up, but at least you present facts (as you see them) to back up your position.  Fair enough.

But lay off the cops douchebag.  The only reason you KNOW they're anywhere is because they're in fucking uniforms.  Can't they have hangouts too?  Or are they supposed to put their asses on the line for you 24-7 with no breaks ever? 

Plus...I got news for ya... Don't speed and they won't pull you over.  For two seconds, just try to contemplate the idea that you're wrong, and Gordon Gekko and Mako are much closer to hitting the nail on the head. 

You'll wish you knew a cop.  Douche.

Disclaimer:  I am not in, nor am I related to anybody in law enforcement .

Fri, 06/04/2010 - 01:14 | 393817 Tapeworm
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the airwaves are clogged with threats from the goomint cops that they will fine your sorry ass big if you are seen without a seatbelt. I make it a point to look at cops in their cars to survey their use of seatbelts. My informal assay is that less than one in ten of the cops wear the restraints when on duty.


Thu, 06/03/2010 - 14:14 | 392337 jory
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We aren't going to the March 09 lows.  That's just plain silly.  Nordstrom was at $7 and it's now at $38.  ZH readers are bizarre.  

Thu, 06/03/2010 - 14:17 | 392346 Mr Lennon Hendrix
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Thanks Jory.  Thank you for reminding us of the leading indicator, Nordstroms.  Move along everybody.  Move along, and go buy your over priced pajamas now.

Thu, 06/03/2010 - 14:17 | 392347 chet
chet's picture

Yeah, that could "never happen".  Except it did.  Last year.

Thu, 06/03/2010 - 14:17 | 392348 ratava
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print this one out

Thu, 06/03/2010 - 14:18 | 392350 Trichy
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At that point the US still had a, although dysfunctional, banking system.

Thu, 06/03/2010 - 16:51 | 392690 DosZap
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"INTO THE ABYSS"..speaking of Dysfunctional Systems.

.........don't know this dude, but the charts are Fed.Interesting, if Depressing( reality) read.

Nothing we haven't already figured out........or, at least contemplated.

On a side note, caught a blurb, BHO spending 5B a day,3x's more than GW did.

Thu, 06/03/2010 - 19:15 | 392989 Johnny Bravo
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If Barack Obama was spending 5B a day, that would be less than 2 trillion dollars in the federal budget, which is much less than GWB spent.

By doing math, you can see that 5 X 365 = 1825 billion, or 1.825 trillion.

George W Bush's last budget was 3.1 trillion.

1.  The person that posted that obviously doesn't know anything.
2.  Conservatives suck balls at doing math before lying to look like they're right when they're lying.
3.  I'm SURE BHO is spending more than 5 billion a day, or 1.825 trillion a year.
4.  The only reason BHO's deficits are so high is because tax revenue is down significantly.

Thu, 06/03/2010 - 19:18 | 392999 Johnny Bravo
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And I just know some Glenn Beck mouth breather is going to go "But 2009 was Obama's budget year, you moron!"

Federal budgets are always a year in advance, and federal budgets run from October to October.  2009 was Bush's last budget, even though it was paid out in 2008.
It's called "accounting."

Thu, 06/03/2010 - 19:50 | 393071 Mr Lennon Hendrix
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BAM sets military spending records.  No big deal though, all Fem Dems do. 

Examples, because I know you will want them.  Carter raised military spending to records.  Clinton raised military spending to records.  Barry did too.  Sure, Dubya was a war monger, but we knew that!  Stupid Fem Dems are sitting in their forclosed houses watching their ipads going, "Obaaaaama is going to end the war soon.  I believe, do you believe?  Have hope, and shit in my hand."  Fem Dems are shit hoarders; they hoard their shit.

Thu, 06/03/2010 - 20:26 | 393199 ColonelCooper
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"4. The only reason BHO's deficits are so high is because tax revenue is down significantly"

I used to just think you were a nuisance troll who got off on irritating everybody around you.  Kind of like a shitfly.

After that post, I officially HATE you with every fiber of my being.  Not only that, but that statement has officially branded you as a STUPID FUCK 'til eternity.

Okay people, the troll is fed.  Nothing to see here.

Thu, 06/03/2010 - 15:21 | 392480 Cursive
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I could see that it wouldn't fall below $7 next year, as long as they have an equity raise or convert the debt.  With the way things are headed, JWN will be lucky to avoid a merger of equals to stay afloat in a couple of years.  Why don't you go talk to some WMT (20% of all retail) executives to get a feel for how healthy our economy is.

Or ask AEP why they still have massive idle capacity.

Thu, 06/03/2010 - 16:17 | 392625 homersimpson
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"That's just plain silly." Yea - as silly as those same fools who kept saying real estate always goes up...

Thu, 06/03/2010 - 14:15 | 392340 Turd Ferguson
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The DXY chart is a perfect example of why I hate TA.

The author arbitrarily draws a trend line and then claims his line is some kind of support/resistance.

I could draw my own line and make my own claims. What a joke.

Thu, 06/03/2010 - 14:24 | 392362 Mr Lennon Hendrix
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Maybe thats why she got fired, because Citi hates TA.

Thu, 06/03/2010 - 14:31 | 392384 Turd Ferguson
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I'd like to nail her every which way to Sunday!

Thu, 06/03/2010 - 15:49 | 392563 Lndmvr
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Would'nt want to piss 'er off tho.

Thu, 06/03/2010 - 17:11 | 392723 RockyRacoon
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...33-year-old single mother from Puerto Rico...

You might want to check with her ex old man first.  You know the story: Somebody, somewhere is tired of putting up with her shit.

Thu, 06/03/2010 - 19:12 | 392984 trav7777
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He said he wanted to nail her, not keep her.

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