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S&P 500: Floor Breach, Breach, Breach
S&P 500 Futures are picking up speed to the downside on rising volume which takes it back to its 50DMA (as we note AAPL has also broken its 50DMA intraday now). Has the market finally grasped that in order for the Fed to greenlight QE stocks have.to.drop and that frontrunning QE by constantly buying stocks ahead of the ramp simply will not work? We'll know soon enough.
Click for much larger image...
S&P 500- e-mini futures breaking through support and trendlines
but for now, the sell-off has stalled and needs more broad-based risk asset selling to continue...
Chart: Capital Context
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But everything is priced in
I realize fundamentals are virtually meaningless, but me thinks tomorrow's NFP is gonna be a market mover.
NFP gets leaked every month, so yeah..
Is someones head gonna get chopped off if the silver print starts w/ a 2 ?
Seriously fightin for that 30 mark.
It already breached that a while back, but bounced back over.
And yes, there is likely a great deal of buying pressure below $30.
According to Gallup, the seasonally adjusted U.S. unemployment rate is up in April:
http://www.gallup.com/poll/154478/Gallup-Seasonally-Adjusted-Unemploymen...
The best investment these days is lead ... the round type that is stored in brass cylinders.
More like insurance than a store of wealth; but one without the other is useless these days.
or selling
I resemble that remark.
Algos are the only elements in the Universe that believes NFP numbers. You may be right.
Side note: from CNBC: "Milken is perpetually bullish on America" (possible partial reason behind Hendry's 1982 statement plus I think he invests in US agriculture for his customers)
Look at the beautiful HNS pattern...
Looks like a Mountain of Green in the middle.
Maybe it is a harbinger of some type..
I sense a bit of a face there too, but I wouln't make book on it.
Concur.
The neckline was broken...and down it plunged.
USArmy Internment Procedures.pdf
Every economist should read this before making a forecast based on the economy. It should bear some weight on their advice.
Big time, because the market has been really weird this week. Like it's waiting for the big dump.
The dow is still over 13 again, so they don't think most people give two shits in the wind. MOst are worried, for they don't want the ponzi to fail.
Face it, most everyone is bonded to this bitch in one form or another.
The more you know does not seem to help in finding if there is any fucking thing you can do about it.
Meeting fucking over. Have a cold beer, relax a little and say "fuck it".
PPT! PPT! PPT! Yeaaaa, PPT!
http://market-ticker.org/akcs-www?post=205513
It is all Meredith Whitney's fault! She said banks are going to "struggle" next quarter..../sarc
Who cares what she says, she's hot!.../sarc
Everything will be down by Monday. The CFTC has raised margin on member by 35%, the CME issued the memo yesterday, it'll take effect Monday. The got rid of the member break. If I read it right, every bank in the US trading derivatives will need to come up with 35% more capital to trade.
Let it rain.
DANGER WILL ROBINSON DANGER
that chart looks like something,
A guy?
A head?
Fat "person" on their back.
I was implying H&S
Or Prell?
Hey guys you can learn how to read charts here.
Training Video: Support And Resistance http://stocklegends.com/technical-trading/support-and-resistance/
Training Video: Understanding Trends http://stocklegends.com/technical-trading/understanding-trends/
Training Video: Stock Volume As Reverse Indicator http://stocklegends.com/technical-trading/stock-volume-as-reverse-indicator/
Training Video: Using The MACD Indicator http://stocklegends.com/macd/
Training Video: Using The RSI Indicator http://stocklegends.com/trading-with-the-rsi/
Thanks Mr. Maddoff!
That chart reading stuff is as important in this market as are the fundamentals.
Yeah!
QE to infinity!
...and Beyond
The French and Greek elections this weekend aren't going to help on Monday.
Is monday a bank holiday???
PULL UP!! WHOOOP WHOOOP!!! PULL UP!!! WHOOOP WHOOOP!!
Huge pucker factor on the NFP in play .
....nothing is going to help on Monday
You mean this isn't a fat finger order entry mistake?
Jeethner! Save us!
Well...it is about time. Good grief, there are equity blood baths going on all over the market, and just about every single company that has reported has promptly sold off.
Of course, the SPY is always the last to figure anything out...as the synthetic buyer of every last dumb ass position taken on by the dip buying gang.
Front month VIX futures above 18.63 is a bit of a breakout on the near term chart. VIX could put on a show here...
Bullish!
DJIA Top = 13,330.30 on May Day
http://i50.tinypic.com/2crk9bs.png
One of the greatest ramp-ups in Stock Market History over the last few months on the expectation of more printing by the Fed. If Bernank even speaks a sentence that contains the letters "Q" and "E", the market takes off like a Jack Rabbit on steroids.
Below the hard deck doesn't count.
the banker coup is complete. there is zero downside risk in the stock market. disclaimer: the last time i made that statement was in 2008.
Time to start rearranging those deck chairs...
GET OUT OF GLD NOW. IT IS ABOUT TO FAIL INVERSE HNS
ummm, no it doesn't
it's pushing the MA's
looks flashy
Roh no Rhaggy, Rooks rike a rhost
My favorite CNBC explanation, as just expressed by Bob Pisani, for a bearish number like the retail sales comp of today/claims/etc. "These numbers are just lets wait until next week/month before we make anything of it" Anything bullish is a sign of an economy roaring to life.
Any type of pullback (real or fake) is "sensible" and "cautiously optimistic".
LOL!
They know the BLS is going to come out with some BS [bad sh1t]
What does anyone know about these folks? Think "customer funds are segregated?"
NASDAQ:PNSN
May '11 to May '12: -92%
Penson Worldwide, Inc. (PWI) is a holding company. The Company is a provider of a range of critical securities and futures processing infrastructure products and services to the global financial services industry. The Company’s products and services include securities and futures clearing and execution, financing and cash management technology and other related offerings. The Company conducts business, through its wholly owned subsidiary SAI Holdings, Inc. (SAI). SAI conducts business, through its principal direct and indirect operating subsidiaries, Penson Financial Services, Inc. (PFSI), Penson Financial Services Canada Inc. (PFSC), Penson Financial Services Ltd. (PFSL), Nexa Technologies, Inc. (Nexa), Penson Futures, Penson Asia Limited (Penson Asia) and Penson Financial Services Australia Pty Ltd (PFSA). In November 2011, the Company sold its Australian operation to BNY Mellon Company.
oh you rread that traders blog too huh
http://www.barnhardt.biz/
http://market-ticker.org/akcs-www?post=205513
Looks like MF Global 2.0
It's only MF Global style if the person in charge decides to illegally mix customer accounts with company accounts. That was the crime that took place at MF Global, not that the company collapsed.
I got home just in time to clear the position I took at yesterday's tippy top. +7%, aw yeah boi!
Now I just gotta hang loose for the afternoon ramp up and pick it up again. LOL
Aw, I got my first pair of junks... But hey, its no secret. From time to time I flip UVXY and XIV depending on circumstance, bullish or bearish. Hey junkers, hope you didn't leverage the family jewels on Green Mountain. HAHA
Im gonnna take at stab at GMCR if I can get it under $25. At that point you are paying 10x the revised guidance. But Itll be a small bet for now. Maybe 1% of the portfolio. I gotta have SOMETHING long to balance out TZA SMDD VXX and FAZ.
Is that idiotic? It has to bounce once Fidellity is done dumping doesnt it?
I wouldn't recommend anyone touch GMCR. It might bounce, but I suspect it will have a lingering downward trajectory; especially if the markets float downward as a major driver. It is interesting tho that 9.7% of the GMCR stock is insider owned.
Well, thats nothing compared to whats been happening to Gold & Silver. I love it everytime the PM bugs get blow torched, and come out saying "I dont care, my average is 400$ per ounce!" Well, that does not matter, as there is an opportunity cost for not buying AAPL shares all along, before the bull run, instead of stupid lumps of metals.
Okay, okay just kidding before I get 50+ down arrows, like last time, for making "joking with people's sensitivities" kind of post. It truly made me feel for MillionDollarAnus.
Anyway, just wanted to say that I am still not fully convinced by the bull market in PMs being over. Why dont you guys (you know who you are!) do a similar raid on AAPL stocks, with same ferocity and leverage, and lets see what happens. I mean I would just do it for shit and giggles.
The thought of all the slick traders and hedge fund managers being carted out on wheel chairs and stretchers, if not stuck in toilet shitting bricks, just gives me amusement that all of GLD and SLV cant buy.
I like jokes about handicapped people.
http://www.youtube.com/watch?feature=player_embedded&v=IwwuZr6H1LQ
Yea, verily LULZbank, he that doth disregard Zero Groupies commandment no. 2 commiteth blasphemy:
"Thou shalt not taketh the name of Gold in vain, for the gold bugs will not hold him guiltless, who taketh the name of Gold in vain."
I think the funniest thing aboit these PM bugs is that they dont even understand their own thesis. They whine when PMs are down in a downt tape.
You have to pick what side of the deflation / inflation trade you are on. If gold goes to $5,000 its because Ben prints too much and looses control of inflation. Stock will also go up 100%+.
If we solve this global debt bubble with defaults and deflation SOX is going to $700 and gold is going to $400.
The only scenario where stocks go down meaningfully and PMs go UP meaningfully is Obama gets reelected and goes Hollande on our asses introducing a 75% tax on all financial assets. Then your PHYSICAL gold held IN YOUR HOUSE will go way up in value but you wont be able to sell it or show it to anyone without fear of going to jail or being killed.
You talk too much sense. Who let you in!
There is another possibility, where PMs can go up and everything else goes down (except your gf and mistresses) i.e. the current financial system collapses and people lose confidence in anything they cant hold physicaly (except their gfs and mistresses), possession. Also something that will have value, irrespective of what part of the world you are in or will move to.
That is why I love AAPL shares. Everyone wants an iPhone, some will even give you their kidney for it. Long iPhone, short kidneys ... best arb trade ever!!!!
a global debt default and you're still pricing in $?
You simply don't understand the human condition. Vanity makes up larger and larger proportions of the human psyche as you go higher up the tree.
Best of luck with that paper when the music stops.
BTFD I have a feeling.....or possibly lombago
Let it Burn.........
Am i crazy or are both the 1 week and 3 month SPX charts showing the clearest H&S pattern Ive ever seen. Bad NFP and we are going to test 1340 REALLY FAST.
Roadkill, you are no doubt crazy, as are the rest of us who overspend our time on this board, but you may be correct that the S&P will see a 5% decline soon. That's not much of a pullback: it's pretty much in the normal noise level for a month.
The 'floor' should be termed the 'trampoline'.
GMCR is getting roasted today. I love the smell of the roasted coffee!
I saw the headline and thought the indices were down 3%+. No such luck.
If this drop picks up momentum, we could see much of the Dec 2011 run disappear.
http://bullandbearmash.com/index/sp-500/daily/
Primary wave 3 in the making?
Did anyone notice Silver is below 100 and 200 MDA? Gold too but not so much.
http://www.monex.com/prods/silver_chart.html
http://www.monex.com/prods/gold_chart.html
20 already crossed thru the 50. Last time that happened we were at 1202.
Next stop is 1350, or DC bounce, or who gives a shit as long as it moves.
Pull my finger.
"Sell-off"?
What is that? Not in any vacabulary I can recall and computer won't translate it.
Lots of selling today, a bit strange of an allowance.
I am waiting for a pullback on Enron stock.
Today, all your fat fingers are belongs to us.....
Its nice when just the traders are commenting and the tin foil hat crowd hasnt taken over yet.
Btw I dont pay attention to PMs much. Just noticed GLD and SLV are almost back to where they were 6 months ago and stocks are barely off their tops.
That has to be the worst period of relative PM performance in 19 years. If that keeps up their is going to be mass sellimg by the retail crowd that got conned into buying gold coims by those douchy commercials om tv and glenn beck.
Once the selling starts the GLD unwind is going to be devastating.
The mass retail crowd never got into gld. Or if they did they sold after the last big knockdown when everyone screamed bubble.
lotsa CIA spooks on ZH, hey?
if anyone thinks gold will get crushed long term they are delusional, i'll only use increasing central bank purchases (BRICS) as my evidence
AAPL is the new bubble. Didn't you get the memo?
GLD and SLV can go to 0 for all I care. I could wipe my ass with that paper.
On the other hand, if worst comes to worst I still have the exact same weight in oz, and whatever happens nice silver jewelry will keep selling for something (especially here in latin america which is reasonably firewalled from the local economy), electronics will keep being made, and solar won't disappear short of another viable portable personal energy source.
With the fundamentals of silver production and its industrial use I'm not scared at all that the value might drop anywhere much lower than it currently is. Not with the money supply as it is, not with the rotting and corrupt market fundamentals which have simply been painted over since 2008.
I've had this offer from a nice silversmith in Peru to provide me with an apprenticeship in the trade. I think I'll take it - that'll provide me with a nice way to convert passive savings into useful assets for a trade. Moreover, jewelry is more liquid, and never sells for less than the price of the material used, and usually rather 2-3 times the price.
Knowing that I can do this, and having the solidity of an 1-oz coin flipping between my fingers, provides me with all the security - and potential for growth - that I might need. Go and play with your houses of cards and sandcastles if that's what turns you on, I couldn't care less.
Love those emini-watch indicators on the 4500 tick chart.
Like Zero Hedge? King World News?
Want to know when to expect the next round of QE?
Is it a good time to be long stocks? What about gold miners?
http://jmcaule-whatimlookingatrightnow.blogspot.ca/