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  1. Today
  2. Lee. What's your take on the kerfluffle with the Fed in the repo market? Well somebody needs cash
  3. I wish you would reach out to Treasury to ask when they are going to start calling in Notes like Trump told them to
  4. All cycles are on pause until Fed words. That's the plan anyway. You never know about a rouge tweet.
  5. Resistance at 3000-3003, if cleared opens the way for a move back to 3024.
  6. All Ords 5-day chart  http://bigcharts.mar...com/default.asp Another day of mostly sideways: All Ords closed +0.3% with sectors ranging between Utilities +1.3% down to Materials -1%. Over in Asia, China -1.7%, Hong Kong -1.2%, Japan +0.1%, India currently -1.8%. UK/Europe: FTSE +0.3%, DAX -0.2%, CAC +0.1%.   http://bigcharts.mar...com/default.asp
  7. http://money.cnn.com...s/morning_call/ 24 hr Gold     http://www.kitco.com   http://www.kitconet....ase_metals.html http://www.kitconet.com/indexes.html
  8. Early openers bogged down in inaction: Kiwis +0.4%, Aussies -0.3%, Japan +0.1%, Sth Korea flat. Energy +0.7% is leading Aussie sectors with Miners/Materials -1.3%. All Ords http://www.abc.net.au/news/business/
  9. Yesterday
  10. I figure somebody should note this idiocy from Trump since nobody else has. 9/11 Tweet. The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet..... There is a slight problem with this "refinance our debt" thing. The Treasury hasn't issued a callable bond since 1987. Oh well, Munchkin should get right on it. I'm sure the market would love 50 billion or a trillion in non callable Treasury notes called in. Cripes. Hey Lee, You have been in contact with Treasury flacks. How about shooting them a question about when they are going to start to call in Treasuries.
  11. Those who can, trade. Those who can't, like me, try Dad jokes and "comedy". 😜 16M Dec ES--not all that far earlier this a.m. from filling last night's gap. But now what? Go down and try for a double bottom, up and bump head around 3005-3008? Both? Neither? 🤔 I guess that's why I'm the King of the Sofa and not King of the Traders.
  12. Sofa, said a bit quickly. As in, "I find this market Sofa King unbelievable at times."
  13. However, there are plenty of economists, Wall Street "anal cysts," and assorted self excusing establishment shills who want you to think that there are. Most of them are in the business of selling their positions to you.
  14. I guess I'm just one of those "nothing surprises me" skeptics. For example, the creeping Trump dictatorship hasn't surprised me for one second. Nor would it surprise me if he and his sycophants are overwhelmingly defeated in the next election. It would also not surprise me if there is no election, or if it is rigged for him to win. A military coup would not surprise me. A White House coup would not surprise me. The end of constitutional government would not surprise me. I'd be more surprised if a functioning constitutional government of laws re-emerged. We are in a fluid situation. Anything can happen. The idea that drones can attack an oil facility is not a black swan. And black swans don't turn markets anyway. In fact, there are no black swans. Plenty of people have already thought about, foreseen, and acted upon everything that can happen.
  15. Hourly trendline at 2992.50. Perfect touch and go so far. Let's see if they hold. The idea that a drone strike on a Saudi oil facility would generate a major turn in the market strikes me as naive. But it seems to be a widespread thought. So I'm probably wrong in my judgment. LOL
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