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Third Attempt To Break 200 DMA Fails, Is Fourth To Follow?
Today's third attempt to break the 200 Day Moving Average resulted in failure. With the Italy v Paraguay game starting, and volume about to become negligible, will there be any resistance to the imminent 4th attempt, or will the HFT algos call it a day? Looking at the EURJPY pair, of which the market is now a direct derivative, it sure looks like it will be a stretch.
h/t Joel
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I guess Iran's sending out a flotilla towards
Gaza raises no issues whatsoever for la la markets!?
http://www.jpost.com/IranianThreat/News/Article.aspx?id=178395
According to Turkish press, one left today, second flottilla leaving
before this friday. However, no Revolutionary guards would be on board,
according to Iranian press.
Take it for what it's worth.
Bring it on, boyz..
no Revolutionary guards would be on board
ha! and monkeys might fly out of my ass - I hope the Israeli's don't even try to board and just hit those motherfuckers with a couple of 500 lbrs....
I doubt they'll try that again. Most likely they'll just disable the engines and tow them out of the way this time.
They are docking in Egypt ... and trucking the crap from there ...
Wait, I thought it was Mutual Fund Monday???
Well, the DJI is up +40 (as of this post), despite a Greece downgrade and low trading volume. So yes, Mutual Fund Monday is still on..
"Fuck yo couch! They should never have given you knieckas money!" -Ben Bernanke
"Buy another one ya rich muthaf*cka!"
Algos don't watch soccer
Only weak humans do.
+1(trillion)
I could program an algo to watch soccer.
Starting in the third period, the computer would start falling down and punching other computers.
NFLX more fun than kingda ka
http://www.youtube.com/watch?v=HN8nv4tVFuA
My money is on HFT bitzchez! LOL!
That means you have a lot of catching up to do given last month's performance.
How do I make sure my retirement account is not, in any remote way, under Leo's influence? [assuming he is not fake...]
He is your Fidelity 401k sales rep... You are screwed.
What, your money is not on Titlos SPV? Greece will rebound as will we all. This is a buying opportunity of a lifetime. HFT will make sure that all asset values are maintained. Etc....
Wake me up before you Mo-Mo.
http://www.youtube.com/watch?v=StljBI0059U
LOL found something even better.
http://www.youtube.com/watch?v=Riv1yzjg5vw
More good work from our minerals department
Apparently in parts of PA, tap water can be made to burn thanks to the great oversight of the nat gas industry.
http://www.fundmymutualfund.com/2010/06/video-downside-to-natural-gas-yo...
You would stand in the way of progress? Very unAmerican! Long live the people's corporations!
WOW... (speechless)
Dat heap good firewater! Problem is?
Drill baby! Drill!
This has been a problem in the northern part of the Marsellus Shales for a few months. The headline of the local paper a few months ago was "Our Water is On Fire".
A few people with wells within a 1/2 mile of drilling can literally light their water on fire and when they bathe, all they smell is gas. PA is doomed if Chesapeake, et al, continue to get their way. Protests of citizens are accomplishing nothing so far and Chesapeake is claiming that if you are further away that 1/4 of a mile, it's a pre-existing condition.
Not good for PA at all and the Southern Tier New Yorkers are demanding that the EPA hurry up and let them sell their leases to the Gasholes so they can cash in. Short term thinking once again will leave this depressed area in a current gas boom decimated by the citizens who were all assured that the gas companies knew what they were doing.
I wonder if i can light my tears on fire.
Man the pumps its 3pm - PPT siren sounds like this.......
Whoop whoop woop
What a joke, this Ship is going down anyway
I was thinking the same thing. All they have going for them is the hopes of luring in momentum traders who want their fix. Oil volcano + derivatives language still intact = no rally in my opinion. What will gt downgraded tomorrow?
Remember, all those who want a retake of 200dma would need to do is get us close w/ a sprint at days end (but not too close as they will engage sellers dumping at 200dma) and then slide it up and over in the futures...by morning the all clear is given and "money on sidelines" is signaled to move in. We've been trained to be cynics.
Seems I've seen this one before!?!
Agree, but one of these times the script will change. Maybe this time. Pull out to a daily chart and the picture changes.
I'm betting you are correct (but no idea if it's this time or 3 months from now).
That idiot Insana just went on a rant about Ron Paul and his ignorance of economics - the height of irony coming from the former jurno turned hedge fund turned telepromptor genius and now apparent PHD in Economics
Insana graduated with honors from California State University at Northridge
vs.
Ron Paul Gettsyburg College (BS) and Duke Medical School
Perhaps Insana couldn't afford a private college. Not everyone was born with a silver spoon in their mouth.
No, he just isnt that smart
HURRY! SOMEONE ALERT THE PPT! The DJI might go negative! HURRRRRYYYYYYY!!!!!
MY GAWD! THE DJI WENT NEGATIVE! RED ALERT RED ALERT!
**CALL THE MIGHTY POWERS TO PROP UP THE DJI**
WE ARE SINKING... AIEEEEEEEE!!!
Calm down - the PPT head trader just went out back for a smoke break. He'll be back in 5.........
Always dips early in the day when he takes the morning dump too.
200dma reality vs PPT print and save?Well where is that one going to finish?Oh sorry I forgot,Benny boy denied that the Fed manipulates stock prices.
be patient these guys only work on the 1/4 hour
Good lord, the 13 wk auction today went off at .065% WTF, how much crappier can it get?? People are flooding into treasuries willing to take pennies instead of investing in this ponzi stock market. Something very bad is about to be unleashed on Wall St. if you ask me that sends it into oblivion.
any ideas where those spikes in spy after the close came from? been jumping from 109.53 to 110.x repeatedly and straight back.
Dark Pools of Bogus Trades.
I've seen those supposed trades for several years.
If you put on a Tin Foil Hat, you can just hear the criminals saying, after the fact, "Umm, I got long a hundred thousand SPY at 106.5..." when the current price is 108; or, " Yeah, I sold (sold short) 75,000 SPY at 110.79." when the current price is 109.49.
Its not hard to have a perfect trading quarter (wink, wink) when your counter-party is the PPT (nudge, nudge) and the trade went off in a dark pool, somewhere, off-exchange, between corrupt criminal enterprises, in a rigged, fraudulent, manipulated "market"...
Word to what poster above said.
Also, delayed trades that simply didn't print when they were supposed to be executed. Thats why the price jumps to that high/low print of whatever it is, but theres no liquidity there, just executing what was supposed to be at the time of the original buy/sell.
Happens most often with very liquid stocks in usually in the a/h session. See it most often in GLD, SPY, BAC, LVS
Panning that gold!
The SPX and XLF are trying to cling to the 50 week SMA. Kinda like watching glue dry, but meaningful. I don't think its strong glue.
Animals can smell rotting gangrenous wounds a long ways off.
=
Retail investors smell the stock market and it stinks. Paying $ANYTHING$ for bankrupt, criminal enterprises...makes no sense.
PS when the 200 dma heads south its curtains for real....almost....not yet
EURODOOM killed the low volume rally-Credit to Bank Of Montreal for that term.
Greece downgraded-100 point rally throws a rod- back to business as usual.
I'm was looking forward to an idiotic rally back to 12,000 on the DOW-almost a gimme on the short side
i hate myself right now... took off half short position because i thought that this am was the definitive break of the 200 day ma... this self loathing is why i left trading to go to medical school... i only feel this bad now when i kill a patient.
why hate yourself for a few points? if you really think it's gonna crater now, just put the shorts back on. but somehow I don't thinks we're falling down that cliff any time soon.
I still have my short position and man are my shorts pinching me now....
Most of the patients whose deaths you are kicking yourself for were called home by God long before you laid hands on them. I tell my paramedics who bring me dead people, "I can't fix dead."
Getting sucked into a bear trap makes me feel much much worse.
jus go long chinese solars. good play. good happy.
so much for genuine buying
http://farm5.static.flickr.com/4059/4701294170_46a8d9383b_b.jpg
Anyone know if historically that 44+ ratio of up:dn volume last week was a crazy six sigma event or does it typically happen on massive 200+ pt days?
In addition to the 200 DMA resistance, this sideways action on the daily SPX chart is causing the Bollinger Bands to potentially breach within the Keltner Channels. This typically results in a big breakout in which ever direction. The same thing occurred on 5/4/10.. I think we all know what happened 2 days later.
Another factor in today's resistance at/near the 200 dma, is a double fibonacci reistance.
38.2% retrace of the full move from the SPY high at 122.12 to the low at 104.38 and a 50% retrace of the seconary high at 117.68 to the same low at 104.38.
http://www.4shared.com/photo/ujqJQGlg/SPY_Dbl_Fib_Resist_200_DMA_Fai.html