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ES Closes Week Slightly Down As Inverse Volume/Performance Relationship Persists
It is time to restart the clock on the number of consecutive weeks decline in stocks. After last week broke the trend, the just finished one closed slightly down, as three days of taking the escalator higher on vapor volume then reverted to taking the express elevator down on a spike in panicked trading. Net result: about 10 million E-mini contracts in which billions in wealth was transferred, the overall market did not move, and nothing at all has been resolved regarding the global ponzi scheme.
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next week
ES 1242/7
Regards ,
Enjoy weekend ZhReaders,
Great stuff as usual.
I think it is interesting what has happened in the last week, Greece problems, Bernanke admiting US is crappy, and oil problems too. A crazy week, I am guessing there is a bigger move coming on the market.
Been following this guy for a while, his trading advice is killer and is very accurate.... latest video - http://www.youtube.com/watch?v=xKP90DrpfzQ
That nuclear bomb that's "gonna" go off in germany on sunday will probably not do the ES any good next week either:
http://the-tap.blogspot.com/2011/06/german-lawyer-uploads-his-warning-of...
pretty good action AH on VXX...shaking out weak hands, bottom-fishing (45k at 24.05) and positioning for next week.... what a show...
the bratwurst bomber
looks like a bounce in on the way (especially given the Greece kick the can). Note the Stochastics on the Summation index, bullish percent and price. Even durring the 08 melt down we had bounces after getting this oversold on the weekly charts.
SPX
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3225058&cmd=show[s206018187]&disp=P
qqq
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3225058&cmd=show[s236022169]&disp=P
nyse
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3225058&cmd=show[s236022770]&disp=P
then we might just get a rare short opp,,, until QEx
Ruh-roh Shaggy:
06-24 14:36: According to a source CFTC are looking into oil price drops before IEA reportSpeaking of the 70s and a little off topic, Peter Falk has died. RIP.
Time to buy some guns...
http://collegemessiah.blogspot.com/2011/06/it-makes-sure-jakes-respect-m...
There are few reasons this day and age to not own a firearm.
Couldn't agree more. Good firearms articles:
http://www.backwoodshome.com/article_index.html#fh
Furthermore, ZHers, few reasons not to improve your marksmanship with said firearms. The Appleseed Project is a great place to learn/improve your marksmanship.
Find a shoot near you, here.
TPTB may be able to delay sovereign defaults by dumping billions on the piigs, but confidence is
falling fast. Soon the big market players will start shorting banks in a big way and that will
snowball and lead to bank runs. The temptation to do so will be very strong as its almost a sure
trade. The risks for the economy is rising and the cost of insurance [ PMs ] is falling. Time to get
some insurance.
long short long bonds resolved well.
Anybody on this board have a Discover card?
I know nobody that owns one.
DFS was the top % gainer on the S & P 500 today.
Near 52-week highs.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=dfs&inst...
Only the President or other crooks in Chicago that I can think of...but then again when the nobel peace prize winner put 3 wars on Discover...it pays!
in feedumb's land sheep don't own Discover card, Discover card own them.
CHF just soared once again about 15 minutes ago
right, wonder if the Euro will blow up this week-end ?
What the heck was that move ?
1.1827.... indeed strange since it traded most of the day around 1.19 and then this sharp move AH, something is brewing......
It happens nearly every day since about 8 weeks but usually 12 hours earlier
I have two suspicions, additionally to the zerohedge thesis that it has to do with greece:
a) The swiss national bank dumps it´s dollar and eur reserves.
b) Foreign central banks shift their reserves into chf.
Anyway, it´s very harmful to the swiss economy.
And for me it means: hedging, hedging, hedging.
dump Euros after buying all down the way since 1.42 ? btw they bought tremendous amounts (around 300 bil Euros) and Mr.Hildebrand still doesnt give any figures on the losses....or a strategy to force Switzerland to join the Euro ?
I hold shares in the snb (it´s publicly traded), and i´m planing to ask questions on the next general meeting of shareholders.
Some insiders tell me that hildebrand "diversified" into USD.
Maybe he is dumping USD and thinks it doesn´t have an impact on the eur/chf exchange rate?
As the snb cannot raise rates to cool down the domestic real estate market, maybe they think sucking up chf-liquidity by selling eur + usd is a proper method of tightening?
My suggestion would be to use the fx reserves to buy back our "lost" gold...
Since 70% of swiss exports go to germany, I dont think USD is a priority...he could also make negative interest rates to weaken the CHF....the real estate will explode him in the face but with the European and US mess, more people come to Switzerland... anyway if we get another big depression which looks more and more likely, Switzerland will also go down.
Yep we are finally doomed aswell.
I accumulate physical gold, food reserves, and legal weapons...
but but Gold fell two days. Everyone is safe. just huddle.
that happened in correlation to the oil market "intervention", so i think it´s short term and it´s a buying opportunity.
Maybe it has something to do with option expiry, but i'm underwater already after buying the "dip" after Bernank's speech. That's what i get for believing the Euro will fall faster...
As for oil, it might ignore the glorious SPR gift.
Did you check at which price level the biggest open interest (both calls and puts) is? http://www.cmegroup.com/trading/energy/nymex-daily-reports.html
Probably the price is going to be somewhere in that region on expiry...
Order Flow Momentum for ES was decidedly negative (selling) since June 22.
...as seen here:
http://algofutures.com/wow-indices/wow-index-sp-500/swing-trading-chart/
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