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Call it a pure coincidence, but the second the OMO closed at 11am, someone(s) sold a boatload of dollars. Stocks looking so much prettier since.
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thank you; i was wondering what caused the move upwards in stock in 11:02.
TD- can you post a chart of (.25 delta puts : .25delta call) spread on SPX over 1 month?
What are you smokng?
What moved up at 11:02?
Answer not SPX, DJI or IXIC.
http://tinypic.com/view.php?pic=2a7iu6w&s=3
No, what are you smoking.
US spinmeisters ..."The US has a strong dollar policy"
part of the natural intraday pattern, as long as we don't go above the open, we're selling off.
Agreed. What matters now is if panic selling sets in. I would expect that to happen if we have 3 or more similar down days.
At this point the stars are alligned (figuratively). The rally has lost steam, valuations are fundamentally irrational, interest rates are under pressure, and government balance sheets are starting to show the wear and tear.
Should be interesting to watch. Hope my P&L for the year gets rescued by Fall
Umm Arm.... The stars aren't aligned figuratively... they're aligned literally. We are currently going through opposition with Neptune, we were in opposition with Jupiter (which is doing a once every 5.7 year flyby). Additionally Mercury is entering retrograde and we are currently in a Grand Cross formation. Look outside tonight and glance around for the brightest star.... that's actually Jupiter. Even more interesting is do some research on Jupiter's black scar which appeared 3 days before the July 22nd total Eclipse in China. I could go on and on, Friday was 161 days from March 6 (the absolute low in the S&P), which is essential a fibonacci ratio of the 666 low, on top of that it was just over 120 trading days, etc,etc... cyclically speaking though, the turn is here... although end of month vacations combined with Ramadan will alleviate some selling pressure
Thnx for the very unconventional perspective. Hey! If the powers that be want to throw me a bone, I'll take it. =)
np... It's scary how much I know about that crap now, studying Gann, Jenkins and Elliott have totally screwed up everything I ever thought about the market :) I suggest those authors very highly if you'd like to improve your trading ability, however the things you learn will change the way you look at everything. And for a bit of perspective... I got my degree in theoretical mathematics.... *sigh*
Hey, if it was good enough for Nancy Reagan, it is good enough for me.
Best quote about astrology comes from the original JP Morgan on whether millionaires use astrology. His answer was "Millionaires don't use astrology... But billionaires do!".
However if you are seriously into this topic, please start with reading Larry Pesavento, he gives the best intro, or you can email me on this website and I can give you resources offboard.
And oh yeah... hocus pocus doesn't substitute for discipline and confirmation through technical signals.
Theoretical mathematics, eh? As opposed to experimental mathematics, I guess? My BS meter is flickering amber...
cool
BOJ , so nice to see you this morning
dude, where the fuck were you ?
Lol I had to play a final show here in DC before I left the country. Spent most of last week on it. It's got fight club quotes.
mp3 online here:
http://www.mediafire.com/?5migdwwtgty
DLing it; gonna blast that, pour a couple of cans of red bull in me and maybe go dynamite fishing again if im insane enough and my Asian shorts perform well. thank for the link man.
awesome stuff dude; only it doesnt play in WMP, but does in VLC.
Maybe it's because the recession is easing?
sorry..still not sure what OMO stands for...can someone help?
Open market operations. Check the NY Fed.
Although you are correct, there is an alternative definition that seems quite fitting in this context as well:
http://www.omo.com/
Thanks, I saw the headlines on MW, and was wondering if there was a connection.
pook the crowd and we will have another massive leg down in a worldwide economic implosion.
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
It's going to retrace 40 percent. Then in few more months just how badly fucked we are will cause it to finally accurately put a number on this screw up that makes some sense.
Fed has an endless supply of money, they will manipulate the market to their end.
If that where true then why did the great depression happen. HUH WHY.
Because the Fed did not have an endless supply of money [gold] then. Since 1971 we have been running on printers ink and electrons.
The Fed made the Great Depression 'great' by delaying the correction the market needed. It was the length of time which made it great.
marketwatch has been getting gloomier and gloomier - especially Ferrell
http://www.marketwatch.com/story/the-8-point-goldman-socialist-manifesto...
http://www.marketwatch.com/story/the-next-meltdown-will-come-in-2012-200...
LOL. don't listen to Farrell, hes insane. He wrote a book about how astrology effects the market. Although, he wrote some good stuff in the past months.
but there are several good technical analysts, like
the one from http://www.oystercatcher.nl/ who expect a
market top between mid august, beginning of september.
I don't understand anything about these cycles, but at
least the guy with the moon and the stars has some support:
Another tech guy wrote on the 11th of August:
Conclusion: The SPX is approaching our projected target at 1020 and with this week’s trading, we are moving into the
time window of our projection mid August top. As we highlighted last week, a temporary overshooting is something we
cannot rule out and as we have yet not key reversal in place it is obviously still too early to call a top. However, given the
deteriorating technical internals we think a potential overshooting would just be a fake as part of a final buying panic.
Within the next 5 to 10 trading sessions, we are looking for a key reversal as the start of a top-out phase that could last into
the first week of September. Our key message is that from current levels we see the next bigger move in equities as being
on the downside. From an assumed top around 1020, we expect the SPX to at least retest its early July lows. The worst
case would be a move towards 850, which would retrace the March/August rally by about 50%. From a cyclical
standpoint, we expect the next major tactical buying opportunity to come in October, November at the latest. From a
strategic standpoint, this potential November low should be a bullish springboard into Q1 if not even early Q2 2010.
amanda drury...
me like, me like heep good. me want....:)
You don't want Amanda Drury, you want Amanda Hugnkiss, be honest! :)
CNBC going for the Double-D shaped recovery.
Man, astrology has as much influence in these people's decision making as anything else!
Who knows what these rich ($1 billion net worth+) people are thinking. They are known to be quite elitist, and not many things more arcane than astrology! It could be used as a communication system. The Select Few know the timings for certain events, the rest of us are totally unaware...
Could be something to it!
GE found 200 day exponential moving average and puked if anyone cares...I know that's old fashioned nowadays.
I think we have people doubting this market now in August vs. the chart that Tyler just posted showing the OMO juicing this whole rally. So that will last until October at least.
Can we get a real leg down while they continue to pump liquidity? Is this thing going to go back into October? Thoughts?
2:30 est. EU and BP on their highs since 6:30 am.
Sell?
So here's the setup:
Cui Bono?
And this benefits the White House how? An End to QE would blow interest rates through the roof. Not exactly what an ailing economy needs if it ever wants to get up off its face again. Unless economic improvement comes quickly, the Fed's Govt deficit will guarantee an end to the republic...and that is not even including raising money to fund these so-called 60 Trillion unfunded liabilties.. The White House does not want an expensive dollar as evidenced by all actions to date to get it lower.
Who said anything about the WH?
The point is because it doesn't in anyway, is why the idea of chinese angle of letting $ rise so they can capture cheap commodities is too tinfoil.
The point is because it doesn't in anyway, is why the idea of chinese angle of letting $ rise so they can capture cheap commodities is too tinfoil.
I don't think it matters what the WH wants anymore. They are running out of options fast, and Chinaman will pull the strings to increase their purchasing power before the binge begins. They feel they have earned that right, and they do have leverage over the party in power.
You mean like the US business elite in cahoots with the Chinese Communist Party honchos to bring the US down, so China can set world policy without the disturbing influence of the people.
No elections, no accountability, only willing consumers. A corporatist's dream come true...
Not really a conspiracy, just going along and getting along, ya' know? The Chinese will keep buying (some of) our debt if we do them a favor every now and then. It's "just business."
I wouldn't use the term conspiracy here either simply because it is putting people on the wrong track. I'd rather use (tacit) collusion and I guess what you are saying as well. These acts of collusion may or may not amount to (criminal) conspiracy as defined by law.
stocktiger.com has been showing the $NDX(or Comp):$SPX for a week, and how the Naz has been falling in it's dominance, forgot what moving ave he used, but the chart broke down thru last week, he said almost always predicts pullback.
Was I hallucinating earlier when walking past the TV, or did CNBC really have a banner something along the lines of -
Breaking News: S&P still almost 50% above market lows; NASDAQ up over 50%
?
Where I come from, OMO is a laundry detergent. Ironic huh?