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Oddly Normal Day
Global derisking in practice. This is what a normal market should look like (and a mirror image when in reverse). Yet one can count on 2 fingers such charts over the past 3 months.
Perhaps a normal volume distribution has something to do with it. Are human traders finally back from their 6 month coffee break?
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Head fake, hence the normal volume. Humans back in because they think the market is headed back towards "normalcy" and they want a piece of the pie. Just another fake for the bots to take from the retail.
Correct. And that would be Middle Finger One... and Middle Finger Two.
too funny ... prison camp humour
The other finger was 60 days from the low, May 7th.
gs went green about 5 mins ago, u can feel the pump
It's just too obvious.
Just remember folks, desperate men will do (and have done) desperate things.
Yep, same old strategy. Volume drops off intraday and the upward channel is built.
Wait until 3:00/3:30. That's when the ramp will start back up and we will end up with a normal day - i.e. bear trap in the morning pump in the afternoon.
Even the best servers go down for a few hours here and there.
quiet time until Payroll numbers come out...no options expiry, FOMC in the rearview
did I write payroll? I meant 'payroll reduction' report
I agree on the Gold. Regardless of the reason for the shorts (uncle Fed in town?) in the Gold arena, the head winds are fierce and the easy direction is down for now.
We agree Andy. Few market participants have positioned their protfolios for an expansion in vol. We have dollar resistance at 78.05, then 79.00 to 79.50 area. We think the dollar (unwind) is key due to the massive dollar carry trades recently initiated (especially in the last 6-8 weeks). A lot coming from international deskd. Good luck to you.
andy...dollar pump for the g string fest in the former steel city?
thanks andy...appreciate your response.
looking for that vix 29.
Yesterday was a reversal day where not just the prior days' close was punched but also the low.
HAL9000 still has total control
frothy farce will probably be the flavor of the afternoon
absent HAL9000, there is no bid
no doubt GS is making a killing today....and tomorrow and every day thereafter
Someone fired up his/her supercomputer at exactly 10:45 est, and immediately initiated a beatdown on the financial/cre shorts
Exactly. However, I have to admit the bears seem to have a bit of fight in them during this midday period.
bears have awoken a bit, no doubt.
the elliott wave crew is definitely establishing short positions and are adamant about holding them.
Perhaps people are beginning to understand that October = no mo momo
+1, most of my morning reading has the wave boys excited.
Bears? How so? Looks like some Bull selling to me...
I was just speaking generically, as in "sellers." We aren't seeing that definite upward movement intraday which would usually be established by now. It may still come today...we will have to wait and see.
Not to mention Denninger practically sporting wood over the dip after the FOMC announcement:
'Nice shelf to get short at; take it down if we break materially over 1080. Either economic fundamentals assert themselves as deserving of these valuations or we're a solid 2,000 DOW points (and 200 SPX points) or more above where we should be. As a trade the risk:reward looks better than it has in months; you're risking ~10-20 handles on the SPX to potentially capture 200!'
I do think bears are starting to emerge again. We won't know if it's for real until a week has passed or if there is a vicious sustained downward move.
Carry Trade-must read
http://financialsense.com/fsu/editorials/willie/2009/0923.html
Most of PPT actually has to prepare for work other than "hit buy button on SPY futures in dark pools" - G20 starts tonight
From the category of "You think this is from THe Onion but no its real"
Dept of Agriculture ramping up use of $0 down, 100% financing mortgages. Yes the Dept of Ag now does mortgages and business is booming post crisis.
Surely this will end well
http://www.fundmymutualfund.com/2009/09/us-agriculture-department-handin...
I wonder how Gordon Gekko is doing today with his long gold positions. We told his to get out.
--Worried
anyone notice that cnbc has stopped talking about GE, at 15 min intervals. wonder where maria and her technicals are?
of course that just had a return appearance of the ratard who opined that AIG is going to $300.
if only we could short people...
discussion or lack thereof of ge on cnbc is a great indicator, lol!
i did watch cnbc during the feb through april period for obvious reasons. it always amazed me how they managed to avoid at all costs any discussion about ge. always brought back memories of the original debates people had when the large corporations started moving into the media business.
Proof positive to me that there are virtually no journalistic standards at cnbc was their refusal to discuss the situation with GE, one of the world's largest corporations which was getting hit worse than most.
howz about this, particularly in light of the "embarassing" problem LB has on the bonus pool money (update again today in NY Post, was on ZH)... the downtown Georgetown C.I. shop shorts the shit out of this, and times it so that when gs shares are prorated for bonuses (the LBs and company will likely be getting almost all shares) it will be close to cover time. LB and peers get lots more shares that will immediately rocket up on the cover and subsequent upgrade of GS by all other financial institutions.
too tin foil???
Lizzy,
I decided that if Cramer didn't mark the top of the market yesterday 'splainin why it was of course goin up (umm, until it didn't) then the idiot that just got air time 'splainin why you should get long AIG on a breakout for sure did. There will be a lot of red-bull drinking, mom & poppers getting annihilated in AIG if the market sinks from here.
CNBC was talking interest rate hikes with Jamie this morning if I remember correctly.
Black Swans will soar.
Dollars to donuts the Feds policy will dovetail into Goldmans book perfectly.
Cramer is such an idiot, where does he get this shit from?
http://secure2.thestreet.com/cap/login/rm_mbp_yho_nflow.jsp?flowid=31a84...
with a day and a half left to paint the weekly chart of the SPY is interesting to me ...
gap down then tried to rally could not hold and selling off ...
now trying to react off high from two weeks ago ... if weak and lacks demand can see a test of high from week of 8/24 to my eyes.
the hourly spy also yesterday had the last two hours volume exceeding the first hour trading volume a first since the rally off the March lows iirc. Also, todays first hour volume seems highest in a while ...
September first seemed like the first signs of supply and 9/22 seemed like lack of demand followe3d by yesterdays OKR another indicator of supply to me ... and now today we have what seems like thrust ....
lets see how we close ...
any weak rally after a weak close today it seems to me would be a nice place to short if not short already with a stop above the recent highs ...
to my eyes anyway.
S&P...upgrading JPM and STT to Strong Buy? After AIG a couple days ago?
Must...keep inflating...financial stocks...
STT fee income from Fed special account is huge and most likely non taxable, lol!
Ha! I'm sure that will be tacked on to the earnings number. Maybe it will help STT's pesky loss-reserve number?
pesky loss-reserve number
no need for the reserves, the secret handshake deal transferred those assets into maiden lane # 93....or 102, hard to keep track without an audit.
Does anyone know, whats the BBerg command/function for the accumulated volume distribution at the bottom of TD's chart? Thanks.
"Oddly Normal Day" ??? Not in Kentucky:
http://voices.washingtonpost.com/federal-eye/2009/09/eye_opener_census_worker_hange.html?hpid=moreheadlines
Just a few questions to determine how many Congressmen/women your State is entitled to...
Oh, and by the way, because of a physical, mental, or emotional condition do you have serious difficulty concentrating, remembering, or making decisions?
http://www.census.gov/acs/www/Downloads/SQuest09.pdf
sadly, I think this is an oddly normal day here too.
there are all sorts of hate groups and crazy people who could do this sort of thing.
that's why I can't applaud when walstreetpro whips up the popoulist fervor; the guy is a racist asshole. that's just not cool.