Market Recap: 1.13.2011

Tyler Durden's picture

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Harmonious_Dissonance's picture

The last couple of days have been hard on the 'ol US dollar! I don't understand the Forex, it moves according to the tides? Is there some conjuction of saturn? Silver got taken down a notch today as well....hmmm

hambone's picture

Why is this still called a "Market" recap?

It's time for a rename for what was formerly known as the "market". 

Ideas???

POMO-a-GOGO?

Fraudcap?

Giveaway-all-you're-$-2-PD update?

small watcher's picture

Dissociative economic fixation?

hambone's picture

Honey, is that you? 

That one must have been submitted by my wife.

99er's picture

SPX

A newbie's Elliott Wave count. No grief, please, but constructive comments welcome!

http://99ercharts.blogspot.com/2011/01/spx_29.html

http://www.zerohedge.com/forum/99er-charts-0

Ferg .'s picture

Looks like a clean count to me . Despite all this irrational bullism I think a lot of people don't realize that according to the charts we're still in a correction within a bear market .

Ferg .'s picture

Looks like a clean count to me . Despite all this irrational bullism I think a lot of people don't realize that according to the charts we're still in a correction within a bear market .

Ras Bongo's picture

Clean count from March 2009 but the FIBs should be counted from the 2007 Super-Cycle top.

99er's picture

Thanks for the suggestion. For anyone interested in seeing how counting is open to broad interpretation, see here.

http://kennystechnicalanalysisblog.blogspot.com/2011/01/stock-market-con...

dearth vader's picture

Interventions recap?

goldmiddelfinger's picture

I can't change my avatar. website managers need oxycotin relif

rosiescenario's picture

....whatever happened to silver today??????? Weak USD, but down she went?

RobotTrader's picture

Gold and silver stocks destroyed.

Semis were Heatmapped in advance of INTC.

Retail and banks pretty much flat.

Dow and Transports both pinned at the highs, no divergences yet.

Asia still strong.

hambone's picture

No gratuitous cleavage or heaving mound o' breast?  This is a new, more focused Robot...going for Trader of the year 'eh?

rosiescenario's picture

"Gold and silver stocks destroyed"

 

...yes we know that...the question asked was why in the face of a weaker $$??

lsbumblebee's picture

Gold drew a picture of a rocket ship, then did it's impression of a drunk with an etch-a-sketch. Officials assure this normal behavior and no cause for alarm.

hambone's picture

That's crazy shit - you know once inanimate objects start drawing and doing impressions, TSHTF.

lsbumblebee's picture

Please remain calm sir. I can assure you the shit has in no way come even close to hitting the fan.

wswarrior's picture

The DOW has not fallen below 40 points since 11/30.  Let me repeat, in 31 trading days, the DOW has not closed 40 points down or more once.  Further, it has only had one trading day during the same period where it has traded down more than 25 points.  How is that nobody questions this, even bull markets have profit taking.  Mind you that this rise has taken place as the Euro has tanked.  

X. Kurt OSis's picture

Since you boys spend so much time trashing the squid, the squid has decided to cut you all out of the market all together by no longer allowing any dips to fuckin buy (bitchez).

P.S. First post here. I think I'll stick around.

P.P.S. My real answer is that since the floor was taken out on the VIX by the Fed and given the slope of the vol curve, the algos will only bid up the stock market. We can all go home now. The machines will take it from here.

Kurt.

sheep92's picture

You are right about the vol curve but fail to understand the consequences.  While the curve remain steep the  absolute level is falling rapidly and the buildup of positions must be very large indeed.  We are setting up for an 'event'.  The carry on short vxx is on the order of 10% a month and like a moth to a flame the herd has been drawn in sure that they can hedge on the way down should anything happen.  How quickly they forget the flash crash.  The machines defintely will take it from here.  The only thing really in question is when and where.

nontaxpayer's picture

So where is the flow of cash going, everything seems to be softish or down?