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"It's Nervous Time" For Holders Of These "90-Day Breakdowns"
Since stock "market" fundamentals haven't mattered in about 6 years, maybe it is the technicals that do (not really: only the Fed's $4.455 trillion in "assets" matters but that's a different story). In which case, here is a chart of the SPX with the key 50 and 200 DMA support levels: keep an eye on the red line - if the 1904 support is broken, it's a long way down.
That's the macro. What about the micro?
For the answer we go to the list of 90-day breakouts and breakdowns.
As a reminder, a 90-day breakdown is a sign of technical weakness. Stocks with 90-day breakdowns are those that reach a 90-day low with volume greater than +1 standard deviation from the 90-day average of volume. And the opposite, or bullish, for breakouts.
Here is the latest list of breakouts: BDX, CB, COST, D, DRIV, DTE, DUK, ED, HAWK, HAWKB, INN, KO, KR, PJC/A CN, SO, STE and WMT
As for breakdowns, well...
AAL, ABB, ABX, ACI, ADI, AES, AG, AGCO, AIG, ALGT, ALK, ALU, AMID, ANR, ANV, ANV, AON, APA, APC, ARMH, ARP, ATEN, ATH CN, ATVI, AUY, AVP, BBEP, BHI, BHP, BMS, BTE, BTE CN, CAJ, CAM, CAT, CCE, CFX, CHK, CLF, CLR, CMC, CMRE, CNQ, CNQ CN, CNW, CNX, COG, COP, COS CN, COSWF, CPG, CPG CN, CR, CTCM, CVE, CVE CN, CVX, CX, CXO, CYOU, DAL, DDS, DE, DOV, DRQ, DVN, EC, ECA, EMES, EOG, EPE, ERF, ERF CN, ESL, ESV, EVEP, F, FLR, FLS, FM CN, FMC, FR CN, FST, FTI, FWM, GG, GM, GOLD, GSK, GSS, GT, GWR, HAL, HAYN, HBM, HCLP, HES, HP, HSE CN, HSIC, HUN, IAG, IGM CN , IMG CN, INT, ITT, JCP, KEX, KGC, LGCY, LIF, LLTC, LOPE, LPI, LPX, LRE, MAN, MCEP, MDCO, MG, MGA, MMLP, MON, MT, NBR, NE, NEM, NGD, NGD CN, NLSN, NOV, NWSA, OAS, OXY, PAAS, PBCT, PCLN, PD CN, PGF CN, PGH, PPG, PTEN, PWE, PXD, QRE, RDS/A, ROK, ROSE, RPM, RPT, RTI, SAP, SAVE, SCCO, SCHN, SDRL, SLB, SLCA, SLW, SSW, STO, SU, SU CN, TAL, TCK, TCK/B CN, TCS, TEN, TGI, TLM CN, TLP, TMK, TOO, TXT, UBS, UNM, URI, UTX, VET, VET CN, VIP, VNO, VNR, VSH, WDR, WFT, WLK, WLL, WLT, WMMVY and ZNGA.
Source: Bank of America
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Not to worry. Contained!!
http://olduvai.ca
I get a kick out of ZH and these articles, ZH predicts market will go down for 6 years and justifies its bad calls with "Since stock "market" fundamentals haven't mattered in about 6 years". Thanks for the laughs ZH, now go collect your half penny for all the ads on this site for me visiting. Even a broken clock is right twice a day. Eventually ZH will be right because why, well percentages. The reason they were kicked out of the industry is quite apparent now.
Ta ta!
Jiiiiiist a little outside.
Markets down ~5% from all-time highs. Because reasons.
Everyone freak out (or cheer, depending on your point of view) because reasons.
Lather, rinse, repeat. I believe that's the basic formula.
What I want to see is a credible threat of global banking contagion. That's when the wheels really come off and I'm not seeing it yet. Next thing that happens is the CNBC tele-jockeys come out and start talking about how low oil prices are a real boost to the economy. Fed will make some "statement" that will be interpreted (correctly) as an eternal backstop. And we're off.
And here's the REAL reason we all know too well here:
http://stevengoddard.wordpress.com/2014/10/09/september-snow-cover-was-h...
Please form a single file and remain calm as you form a line and carefully head for the exit door.
Also, there is no bubble in equities, no bubble in bonds (including Liberian bonds), there is every reason to believe that historic corporate record debt levels are a healthy development, the unemployment rate is really 6%, the banking system is solvent, that China really has an economic growth rate of 7.4%, the EU has turned the corner, and record levels of consumer and household debt combined with record low savings won't be problematic issues.
P.S. - Did you see our fancy, scary Ebola Gumby Hazmat suits on an airplane lately? You may want to hurry and complete registering for ObamaCare or you may be bitten by a Liberian Fruitbat while shopping for bananas at the grocery store and have no recourse.
Now, sit back, relax and wait for Janet Yellen or Charles Evans to blather something about low interest rates, yada, yada, and thank you for flying with Banana Republic Central Bank Airlines. We may have a 4.4 trillion balance sheet, but "we got this."
That's just about everyone.
BoA is clueless. ..ACI is off 90% from 52 week. High
Oh, and please wait for the pullback to the long side before you short them. Fk Jim Kramer and his ilk...
TruthInSunshine - thanks for that.
When you see it, you will be swept up in it.
We've reached the stage of diminishing marginal returns. The FED is beyond insolvent and a dollar of QE produces no GDP growth anymore. Just asset inflation, which will ultimately become hyperinflation
The FED knows this. Hyperinflating wipes out banks' assets of mortgages and loans, so don't assume we'll go there. Thinking anything can go on indefinitely reveals a profound stupidity found only in those who desperately WANT it to go on forever.
The list of breakouts is more informative than the breakdowns. "Companies that will do well (short term) when ebola breaks out". Don't expect Costco Krogers and Walmart to do well AFTER if breaks out fully. I just did the major Costco run yesterday but I won't be shopping in warehouse stores after pestilence breaks out.
Here's the deal. I work in the construction industry fabricating and erecting steel (insert erection joke here). If every central bank and government in the world was propping up my industry by buying buildings and structures that either sit vacant or get bulldozed just to be done again, I would look like a genius with my sports cars, multiple homes, lavish office, etc. I would borrow money to expand my shop, buy all the latest CNC fabricating equipment, and buy up competitors. But if the central banks and governments ever stopped supporting my industry, it would not be long before I learned there was not enough organic demand to fill my millions of square feet of shop space and keep my thousands of shop guys employed. The problem with the poster above (I forget his name and it's not even worth it to check) is that he's too arrogant to think that he's not smarter or more savvy than your typical Joe Sixpack, and too dumb to realize that the entire financial industry is Weekend at Bernie's with the Fed and EBC in the rolls of Andrew McCarthy and what's-his-face. In fact, in retrospect, the smartest person in the world when it comes to investing turns out to be Obama, who said (paraphrasing) "now is a good time to buy." No charts, no analysis, no logic, no reason, no newsletters, no clickbait, and no daily/weekly appearances on CNBC. Just "buy."
Please don't ask for erection jokes. There's nothing funny about Japanese politics.
Bah! I think they are hirarious
I agree with you 100% , TNT.
That being said, THEY are living quite the life, and no real repercussions when TSHTF . I mean .gov swoops right in and saves their ass.
'organic demand'
You are a genius. Or don't spend other people's money.
Landofthefree...Go read huffpo and bloomberg! You'll feel much better!
ps. Mongo's sure they don't receive any ad fees
Sarc/
I get my daily humor from ZH for obvious reason... they proclaims the helicopters are coming and have for 6 years said the market is going down... (confused look). Its very apparent why these guys were kick out of the industry. Eventually, some part of their prediction will come true and they will proclaim victory.
Landotmook booted in 3.....2.....1.....
I have said nothing that is not the Truth or in context. What I don't understand they keep promoting the "helicopters are coming" and then they predict the market to instantly crater for years and years. Its Peter Schiff mentality. He wrong a book "Crash Proof", yet all his clients lost 50-70% just like everyone else, I guess his definition of "crash proof" is not losing 100%. (I don't know).
So what?
Getting booted is the new killing it.
The fat lady has yet to begin her song. When she is finished singing you will have been run over by steam roller and not understood how you could not have seen it coming.
There is some merit in what you say given that the market forged ahead and that gold was punctured. But deep down we know what is coming and I would rather be right at the end than be right all along except for the end bit.
Then again, each to his own.
If you play the Feds game you are supporting the Fed. I would rather not. When the music stops, the crash will be all the more grande due to the way they pushed it off so many times.
Well, in this case the old rule still applies: better six years too early than one fatal nanosecond too late. So yes, I'll eat those six years of lost investment oportunities gladly if that'll make me, the missus and the kids stay afloat after the big bang. Although I won't deny it can be frustrating at times.
At least you are admitting to the Truth, for that I raise my glass in honor. Being wrong is not necessarily the problem here, failure to admit factual Truth apparently is a problem for others.... of course ads to sell.
...... Jesus H I have this same discussion time and again with colleagues and clients; when will it go down you said it would go down, you said this is why you buy precious metals and tangible assets blah blah blah.......
Well FUCKERS riddle me this: is there anything that makes any sense in this facade quaintly called a market??
{deleted paragraph}
FUCK THAT NIGGER FUCK THAT ....... YOU SO FUCKIN BRILLIANT TELL ME HOW THIS BULLSHIT YOU CALL A MARKET MAKES SENSE ON ANY PLANET UNDER ANY COLOR SKY ...................BIOTCH!!
You have the opportunity to add some intelligence to the discussion and yet you don't.
Neither did you mook boy!
I wasn't the one mouthing off.
It clearly is right on the mark, as you felt the need to challenge the Truth with a non-discussion remark. ZH just puts out 10-20 articles a day, most of the articles actually don't make sense as a group, as many of the articles say the exact opposite of other articles. When it doesn't work out, of course, it's the market fault.... good luck with all that... pretty obvious why they are not in the industry.
Truth: Read ZH and you will be convinced that the world will end tomorrow. And then it doesn't. Any of us who have been here more than a month or two know that.
But the numbers are still there. And no-one tells us what piece of information is missing that allows us to ignore the numbers. You have the opportunity but you don't do it.
If someone is wrong then tell us why it is wrong. We're listening.
But if all you can do is call ZH a bunch of losers then you're an even bigger loser for not having anything better to do than hang around a loser website hurling insults at a bunch of losers. Grow up and get on with your life. Or can't you?
You pointed out why they are wrong. The world is going to end tomorrow, yet here I am. I see nothing that they add to any real discussion as most of their articles actually contradict themselves.
ZH is the central banks wet dream.... oh the helicopters are coming. It's really Peter Schiff mentality.
Whatever floats your boat, I guess. See you here tomorrow.
The helocopters have already come and gone, you are just reliving the same nightmare, over and over.
No nightmare here, lights are on and I am fully a wake with my popcorn in hand... liquidation of the walking unfunded liabilities this time is going to make the last time look like a walk in the park.
says the man who trolls ZH
Contrarians rarely appreciate a meta-contrarian.
Why go to church when you can hang out on Zero Hedge?
For every interpretation, there is an equal and opposite interpretation, does that help you any? You seem to be very confused.
Card-carrying member of THE BLIND LEADING THE BLIND. So, blindly accepting the Status Quo BS has enabled you to.......
Umm, about this:
as many of the articles say the exact opposite of other articles.
This is a FEATURE, not a BUG, running articles with multiple opinions and different sides of the story. People are so conditioned to fake journalism they are clueless as to how it's supposed to be done.
"they proclaims the helicopters are coming and have for 6 years said the market is going down."
Your tax dollars at work.
Fundamentals havent mattered. Numerous examples of stocks with zero net worth and we see stocks soar. If it wasnt for Fed injections, govt back loans and forced low interest rates what do you think the markets would look like? All that is happening is the rest of the world is catching up to Japan. Corporations are now instituting self QE with massive buybacks trying to hold the line for as long as possible.
Debt ( pers+corp+gov) to GDP is 340%. You tell me where the sound economics is in that?
So, I guess anyone can make wrong call after wrong call and then claim its not them, its the market. :)
I assure you the big corporations certainly did pile up the cash. ZH is about like Peter Schiff, Peter Schiff predicts the housing top within months, how did his clients do.... terrible.... he "crash their investment" by not shorting the housing stocks.
Lando just shut the fuck up and go buy some stocks.
Haha. I think not.
"... its the market" Your delusional. There is no market. There hasn't been one in at least 6 years. What you have instead is the croney fiat helicopter.
Not my delusion, I didn't write the article.
I mean anyone can write articles that say a bunch, then write other articles that are contrary to that... then at some point something is bound to be right. Then collect some pennys with stupid Jim Cramer ads... the best is when I come here and the Jim Cramer ads pop-up. Very obvious why these people got kicked out of the industry and now they are down to writing a billion articles in the hopes a few will be slightly right. Either way the helicopters are not going to save anyone, I just get confused as to why all their chart analysis is so good... why they are constantly wrong. ZH is the best comedy on the net.
Execptin you of course.
No. You are...
The Fed does it all the time, hence the phrase, "The Fed, always wrong, but never in doubt."
Well, when you're one step ahead of the crowd you're a genius...but when you're two steps you're a crackpot!
http://olduvai.ca
Is ZH about calling the market or calling the "market" a bunch of BS? The market is a bunch of BS. Someone as full of BS as you should be able to see this.
Kicked out of the who?
If you trade according to ZeroHedge advices, knowwing that in fact we don't really have a market, it's your own problem. In fact i think it would be stupid to trade at all. An algo can come in at any time and fuck everything up.
I kinda chuckled..just reminded me of an article I read bout ZH being correct twice , out of the last 200 crashes it predicted. Just that statement souds funny to me.
On the other side tho, ZH is correct in that it SHOULD HAVE, crashed by now..and those of us smart enough to know...understand that ,without the manipulation , it Would have. So..theres that.
but..but...stock market fundamentals havent mattered in about 6 years. lol. that's the honest to goodness truth.
This posting explains why I dcould never be a stockbroker.
All you need is a spreadsheet and some macros.
Red suspenders, blow and an ego the size of Oprah's ass.
Like Cramer?
Bing!!!!!!!!!!!!!!!!!!
Cramer is a knob polisher.
Bonus Cramer link!
http://www.cnbc.com/id/100000942
From a post yesterday;
" Cramer on a pogo stick in a clown suit"
i actually feel bad for some of the poor chumps he suckered into these E&P names about 25% ago...
Plebs dont mind losing money, as long as they lose it listening or following someone whos face is on MSM.
It slike all those young women who cant wait to get fucked and dumped by a celebrity. A poor sod does it and he gets thrashed like a low life.
You TOO can be a broker, in 4 easy steps:
1. Buy "stock" in things you use every day - food, toilet paper, water, PM's (gold, silver, brass, lead, and steel).
2. Sell "stock" in things you don't need - Sell all the random, dumb, unnecessary crap you've accumulated over the years.
3. Don't waste your time in paper markets, that value toy companies like AAPL more than they value companies that produce goods and services essential to maintaining life itself.
4. Buy some popcorn and a comfy chair for the Big Show - it might take a while, but when the bubble finally does pop, the results will be spectacular.
You TOO can be a broker
Buy this crap....it's a lock
Why is it that the man who invests my money is called a broker ?
SELL!! SELL!! SELL DOGDAMITT!!
Hmmmmm
Question is; Who is actually buying, and why? ....except for shorts covering of course.
Gold miners have really nowhere else to go.
Really? Wednesday was a bullish key reversal day for most of the miners. Sure you want to be short at these levels?
Gold miners have really nowhere else to go.
Gold miners are fine....it's management that will screw you everytime.
yep...management is the key. Good to know ahead of time how much they're personally invested in their own operation or are they just pump and dumpers.
This article didn't list a couple ETF's I have that are in the shitter right now...JNUG and NUGT. For a while there I was way in the green with them and shoulda sold and stepped back to see what would happen. Buuuuuuuuuut I didn't. hahaha
Now they've tanked and are at all time lows. Which I'm thinking is great. Just like the silver and gold paper prices are so nastily and criminally undervalued, I'm thinkin' JNUG and NUGT are pretty damn well bottomed out right now or very close to it.
Thinking of adding more to lower my cost average per share and see what happens. Like silver and gold, the downside risk from here in miners and phyzz is very minimal compared to the upside potential once the SHTF and the stampede of sheeple, hedgies, and pension funds starts flooding into PM's and miners.
Oh well, either way it was my "play" money to see how I'd do and use any profits for more phyzz. So I'm patient and can wait this shit out for years if that's what it takes.
Like they say, it's all just paper and you haven't lost or gained anything until you actually sell. But the goal at this point in the casino game of crooks for us minor leaguers should be to scrape any profits we can from the paper game and use it for stackin' more phyzz.
Have a great weekend al....and keep on stackin'!!!
+1
I did the same thing but with coal.
I think we'll come to appreciate abundant cheap energy soon
They just missed a few, nobodys perfect.
Get to work, Mr. Yellen!
Technical analysis has been completely irrelevant since 2008 and possibly since 1987 or earlier, Stop talking about whether stock markets are "efficient" or "inefficient". They are neither. They don't tell us anything about value or the intentions of participants. It is a rigged game where those "in the know" make money on the way up and on the way down. Volatility is welcome, that's how money is really made.
Correction: The form of technical analysis tha you use is useless. There, fixed it for you.
Are there enough derivative contracts o/s to keep USD demand strong?
This is huge: Chinese renminbi becomes directly tradable with the euro
TY, BoR. You're not wrong there!
South Korean banks, the proportion of foreign currency deposits held in renminbi was 0.4% at the end of 2012. That number reached 13.7% at the end of last year, while at the end of July this year the renminbi accounted for 25.9% of all foreign currency deposits in South Korea.
Not a trend that is going to reverse any time soon. This time last year the PRC were reducing USD purchases:
http://www.bloomberg.com/news/2013-11-20/pboc-says-no-longer-in-china-s-...
Wonder when the USD peg will go? At least when the US goes full isolationist (yeah, when did that ever work?) they'll be able to build a great big wall around their country out of repatriated dollars.
Hi Bill of Rights,
That is slightly huge.
But more huger is https://twitter.com/nathani_manoj/status/520202504684834816
And hugest is this:
China Outlines Plan to Ease Capital Curbs, Push Yuan
Nice!...
S&P looks like early February 2014
Also STWKS RFOR SKRS
The Silence of the Lamb-vestors
“What happened to your lamb Clarice?”
“They killed him.”
“You still wake up sometimes, don’t you, wake up in the dark and hear the screaming of the lambs…”
“And you think if you save [one] you could make them stop don’t you, you think if [one] lives you won’t wake up in the dark ever again to that awful screaming of the lambs…”
Hannibal Lecter (aka Edward Quince), V.P. HFT Capital Advisors
Okay...so shove your technical analysis up yer ass.
When you're dealing with the biggest energy boom in world history "it takes a lot of energy to make a lot of energy." In a country with a nuclear fleet in excess of 100 it's not hard to imagine massive economies can be created here.
One simple change for the Oblunger would be to require an entity...and I mean ANY...getting a SINGLE Federal dollar to create on site power.
Simply put "the taxpayer ain't gonna pay for that."
stawks crowd taken to the woodshed. LOL. Bulls make money, Bears make money, pigs get slaughtered.
As surely as Water will wet us, as surely as Fire will burn,
The Gods of the Copybook Headings with terror and slaughter return!
but....but....what's the problem...unemployment is falling like a rock. Free health care for all. We have a president who won the Nobel Peace prize, so we can be glad we are not involved in any wars. Oh...wait....never mind....gotta get to the golf course...
unemployment is falling like a rock.
True that.....but people without jobs.....are way up.
"(not really: only the Fed's $4.455 trillion in "assets" matters but that's a different story)"
ah, pure Tyler poetry. Well done. only...It's a different story, except that perhaps it isn't, or at least it's strongly related...
now, why is it that we used to enjoy all those comparisons between the FED's balance sheet and the ECB's balance sheet?
fonz, for example, had just recently a small discussion with me about that, here and in particular here (the background is Ilene's old article "(The) Great Euro Bailout by the U.S. FED", which I find hard to disprove yet even harder to be convinced of, considering the below and other aspects
so I made for him a small timeline of balance sheets
- the ECB balance sheet was 2 T in July 2011, it increased to 3 T in July 2012, and then the LTROs started to be repaid, and now the ECB's balance sheet is 1 trillion lower, at the 2 trillion mark in September 2014, which is the same mark as in October 2008
- the FED's balance sheet: in October 1st 2008, at 1.5 trillion. In November 1st, 2008, at 2.0 T. In July 2011, at 2.8 T. In July 2012, 2.8 T. Now, in September 2014... 4.4 T
here the sources http://research.stlouisfed.org/fred2/series/WALCL & http://fredblog.stlouisfed.org/2014/05/the-ecbs-balance-sheet-continues-...
enjoy. and don't forget: as long as we tolerate megabusinesses and in particularly megabanks, we have to expect this kind of stuff. no, my argument is imho neither statist nor socialist. I believe in markets with competition and failure, and neither trusts nor oligopolies nor monopolies nor TBTF can be allowed without compromising them
fonz, come back or sent your friend in, I'd really love to hear his answer. I'm starting to believe you just threw in the towel, you don't want that, do you?
Interesting Ghordy. For me the sudden ability for banks to meet LTRO repayments so easily, considering the misgivings over being able to meet the targets directly prior to this, was pretty interesting. Shortly after we saw the red faced outrage from US citizens when it transpired uncle Benny had been pumping liquidity into Euro banks based in the US. Without looking at balance and money supply figures I think one can suspect that this was slightly more than coincidence.
The problem with the balances that you are looking at are that they are the official figures. If you think that these are trustworthy and accurate, you have a lot more faith than I do at this stage.
Maybe the US can ask Dov for their $2T back?
medium giraffe, the original and recurring cry of the megabanks, as visible in all the articles from them that ZH publishes, was always QE. From the FED and the ECB
but QE as such is forbidden for the ECB, except in emergencies, which opens a huge can of worms because politicians don't even comprehend the word, while funnily the european national banking traditions have a much clearer, and tested idea of such things
so the Great Swap was made, in order to "fix" a problem in the dollarzone. which shouln't be an issue for the ECB, but hey, TBTF megabanks are solidly straddled in the eurozone, dollarzone and the hyperhypothecating-zone aka the City. Yes, this includes Deutsche Bank, that monstrosity managed by non-Germans from London offices
so the ECB gave LTROs, which are loans backed by collateral from the banks... and that's it. eventually, they came back. after long grumbling of "the eurozone having problems"... which were in part created by the very same derivative scams that The Squid et al created
this is not the whole story by far, including the national banking systems being stuffed with sovereign bonds, "or else", but, well...
meanwhile, the ECB is audited. hard to believe, since the EU org still has problems with audits.. but there it is. the EU budget is nearly "small fry" for the member countries, and they control the money they send to Brussels, so there is not much need to make strong audits
the members of the ECB, on the other side, are national banks. very, very cautious with each other. they insist on audits. if the EuroSystem is ever caught doing "funny business", my bet it would be a national bank doing it, not the ECB
the FED, on the other side, has been in the business of a monetization of USD 2'400'000'000'000 (aka 2.4 T), in the last years. they did buy roughly that amount of USTs, then after all the USG did spend them above budget (including on interest), and China wasn't buying them up, as they did with 2T
as I was telling fonz, when someone borrows, someone else must lend... or monetize
"when someone borrows, someone else must lend... or monetize"
this sentence can't be stressed often enough
Bullish!
Correction (new for 2014™): Bears make money, bulls make money, bees make honey, pigs get ebola.
Don't know anything that rhymes with ebola except Obama.
I nevir wuz mush gud at spellin, but I be evin worser at ryman.
Okay, but what does Bartiromo get?
Syphilis. Bartirimo gets syphilis.
The only questions now is will it be 16, 15 or 14,000 when the fed announces its new QE program, what will the size be and what will they name it.
Fiscal EBTs.......for the po Fed shareholders.
Or maybe just TARP2.
Um, $FST is an investment opportunity. Its price is crashing, buy the down, wait for merger deal to finish, price goes up temporarily, sell.
What is wrong with that?
At first I thought that sounds like an investment, but then after a moments hesitation it sounds like having a job to do. Surely, I can get minimum wage wage at Mc-Ds?
s there a difference? Nothing wrong I guess.
What's the prob? It's only a "few" stocks. Besides, the firm of Gartman & Stolper has assured me they are all still buys.
www.traderzoo.mobi
Pretty hard on the petroleum and PM mining aren't they? Looks like the banks are good though. Wait a second, who put this data out there?
..........and then the MOMO investors discovered that their sword had a second edge....