BusKow Posted June 2, 2009 Report Share Posted June 2, 2009 coming up to down sloping trendline Link to comment Share on other sites More sharing options...
MrHanky Posted June 2, 2009 Author Report Share Posted June 2, 2009 Looks awefully bullish,even if we pullback a bit.....FWIW. I wish I was long a high beta stock the last week instead of my slow mover....At least I am in the game. No way in hell I would short this chart although it was hard to think of going long in early march.For now bulls have the ball and I would think 1000 would be a minimum target now. Link to comment Share on other sites More sharing options...
MrHanky Posted June 2, 2009 Author Report Share Posted June 2, 2009 One more,but weekly....The weekly 50 MA is only 978 and very doable.The weekly 200 MA would be unthinkable at the moment,but who the hell knows. Link to comment Share on other sites More sharing options...
BusKow Posted June 2, 2009 Report Share Posted June 2, 2009 money to the short end Link to comment Share on other sites More sharing options...
BusKow Posted June 2, 2009 Report Share Posted June 2, 2009 time of the season Link to comment Share on other sites More sharing options...
BusKow Posted June 2, 2009 Report Share Posted June 2, 2009 mentioned this a week ago for Uncle Bucky tunnel support, and here we are... (EDIT - add - Gann fan support below @76.66) Link to comment Share on other sites More sharing options...
GregFokker Posted June 2, 2009 Report Share Posted June 2, 2009 mentioned this a week ago for Uncle Bucky tunnel support, and here we are... (EDIT - add - Gann fan support below @76.66) I'm always too soon, always anticipating signals that don't necessarily pan out, but that looks nearly bottomy to me. Some, such as our dear Doc, are leery of intermarket analysis. But the buck's getting bottomy, the SPX's getting toppy, and I'm betting they all turn round together. Link to comment Share on other sites More sharing options...
nymphcaster Posted June 2, 2009 Report Share Posted June 2, 2009 Interest rates rising on the long end. Profoundly low on the short end. So low, people will engage in stupid behavior (yet again) to avoid low rates, and some bank needing money might offer a higher rate (absent the new or proposed rule that sick banks can’t do that). Short the dollar, carry trade, replacing other currency carry trades? (Is this actually the current huge bubble? I don’t see anyone talking about it as everyone is convinced that all governments run the currency to zero by printing and budget deficits. (Hence reinflation of commodity bubble.) Whole dollar issue, however, is complicated by secret agreements (or public unpublicized agreements) between various countries during the meltdown when dollars were reportedly in short supply during the “fear cash out phase,” which hurt some shorts). Generally is known as “the race to the bottom” and is another highly leveraged area (presumably in all directions). Precious metals/gold, etc. Pumped up by “race to the bottom.” Yet constant daily messages to send in your gold to different places. (Did not exist when gold was at a bottom.) What company can conduct a mining business given environmental consequences (costs) and tight credit? If I had to pick a commodity, it might be trees because of plant and replace and less environmental harm. Why are commodities a bubble? Because trillions of dollars are reportedly engaged in swaps trades versus the “real world” of people who take delivery. The trillions in swaps trades make people think that the actual commodity is worth more than actual demand. (Psychological conditioning.) All the swaps indicate that there is still too much money in the system not engaged in economy activity other than supposedly game neutral bets, which is another symptom of continuing over-leverage. Seriously, am I going to take delivery of any natural gas coming my way? Or oil? Or uranium? If I could engage in that kind of trade with my utility, I would, but I can’t. Currently, I would just be pretending I owned something, versus the other end of another unknown guys’ bet. Margin interest up to something like 189 billion (reported versus covert). Covert, you know its trillions via various types of “federal reserve” type lendings in various countries. Government budgets being slashed have to play out in the future (at least the next year and one after that). Once those budgets are slashed, what comes next is more furloughs, fewer purchases, lower salaries, more layoffs, and a negative spin cycle. Green doesn’t solve anything except saving the planet (long-term). It is a cost and also an area in flux (you’re a big polluter!; no you are!). If we got really green, we’d have more lay-offs. If a utility has to re-jigger building plans or build a smart gric and pay a tax a carbon tax, while the spec boys play with carbon credits on a new market (Enron II perhaps), the utility earns less, unless it has a clever spec boy (gambling) or gets to jack up rates and finds a populace to pay the bill. What’s green is not consuming. So if less consumption, less volatility of money, less tax dollars and more cut backs, and way too much mall space that will not be solved for years, if ever. (It actually was better when we had more food growing space, versus another giant box seller.) If you have a McMansion sell it or send jingle mail, I suppose. You’ll have at least an indirect carbon tax. If you can think small, you’re probably better off. To counteract the bearish position is the following: the various governments don’t want the market to go to zero (yet alone decline substantially) because all those unmeet-able promises will be unmet right away, let alone the avalance that follows (social security, medicare, Medi-cal, etc. Therefore, they might be encouraged to print money and believe that Zimbabwe is the appropriate model. (Unlikely positive resolution). When the currency is out of control, people stop spending except as necessary. If everyone in Z is millionaire, and shortly they become a trillionaire, they may be still starving. Having a currency that means nothing is not the solution to the problem. I continue to believe that world population exists at such levels that reduced population growth or increased starvation is “word.” Finding minerals is harder, and failure to recycle all the prior ones has caused a bunch to live in pits leaching into water supplies. Ditto with fertilizers. This is an unsustainable scenario to anyone who wants to drink. In addition, anyone who thinks constant replacement of batteries and oil pan waste among other things like anti-freeze for a world with increasing cars and other mobile forms of transportion, doesn’t understand why the “green car” idea is doomed to fail. Where, for example does lithium come from and at what cost? Where do all those old electric batteries go? They aren’t environmentally friendly, just like the mercury bulbs that will undoubtedly end up in the trash aren’t either. I think the winners will be people and governments who learn how to walk off the cliff by ratcheting down. Link to comment Share on other sites More sharing options...
Jorma Posted June 2, 2009 Report Share Posted June 2, 2009 Speaking at Peking University, Mr Geithner said: "Chinese assets are very safe." (speaking of dollar assets) The comment provoked loud laughter from the audience of students. http://www.telegraph.co.uk/finance/finance...s-are-safe.html Link to comment Share on other sites More sharing options...
snorkels4 Posted June 2, 2009 Report Share Posted June 2, 2009 http://www.traders-talk.com/mb2/index.php?showtopic=106483 gll zsl Link to comment Share on other sites More sharing options...
cwd Posted June 2, 2009 Report Share Posted June 2, 2009 I am glad I didn't buy any SRS on Friday, as it was down again today, while the REITS sell more stock at ever higher prices. Nobody wants to hear that RE is NOT recovering at all. SRS will have its day, be patient and wait for the right setup. Link to comment Share on other sites More sharing options...
Charmin Posted June 2, 2009 Report Share Posted June 2, 2009 Doubting Tim Ord - May 29: "On the SPX chart there is a load of resistance around 940 range The 200 Day moving Average comes in near 940 The Bolling Bands comes in near 940 The January high comes in near 945 For these resistance levels to be broken it would require an (SOS) Sign of Strength through the 940 level Doubt that will happen here because market is extended When the Bollinger bands narrow then a big move in the market is not far off. The BB is in an area where volitility may pick up soon. I think there may be another shot are the recent highs near 93 or 94 before the topping process is complete. If the market does pull back here into July and bottoms near 740 range then I'm expecting another rally to begin in July. I see a pull back into July and a possible bounce from around July into year end." http://www.ltg-trading.com/20090529.txt and http://www.ltg-trading.com/20090529.doc Link to comment Share on other sites More sharing options...
Direwolf Posted June 2, 2009 Report Share Posted June 2, 2009 econ data is seasonal... rather obvious the PPT was involved today. do you position yourself against Obamanomics and the PPT is the question? Link to comment Share on other sites More sharing options...
alceringa Posted June 2, 2009 Report Share Posted June 2, 2009 Since the end of World War II, lithium metal production has greatly increased. The metal is separated from other elements in igneous mineral such as those above, and lithium salts are also extracted from the water of mineral springs, brine pools, and brine deposits. There are widespread hopes of using lithium ion batteries in electric vehicles, but one study concluded that "realistically achievable lithium carbonate production will be sufficient for only a small fraction of future PHEV and EV global market requirements", that "demand from the portable electronics sector will absorb much of the planned production increases in the next decade", and that "mass production of lithium carbonate is not environmentally sound, it will cause irreparable ecological damage to ecosystems that should be protected and that LiIon propulsion is incompatible with the notion of the 'Green Car'"........ ......Nearly half the world's known reserves are located in the Andes-containing country Bolivia, which in 2009 is negotiating with Japanese and French firms to begin production. According to the US Geological Survey, Bolivia's Uyuni Desert has 5.4 million tons of lithium, which can be used to make batteries for hybrid and electric vehicles.This is the largest amount of lithium in any country, compared to Chile's 3 million tons of lithium and the United States's 760,000 tons. China may emerge as a significant producer of brine-based lithium carbonate around 2010. Potential capacity of up to 55,000 tons per year could come on-stream if projects in Qinghai province and Tibet proceed. The total amount of lithium recoverable from global reserves has been estimated at 35 million tonnes, which includes 15 million tons of the known global lithium reserve base. http://en.wikipedia.org/wiki/Lithium Link to comment Share on other sites More sharing options...
Charmin Posted June 2, 2009 Report Share Posted June 2, 2009 I've heard it all now. "We are very committed to make sure that when recovery is established, that we go back to living within our means, that we bring our fiscal deficits down to a sustainable level, that we unwind and reverse these exceptional measures that we've taken in the financial sector," Geithner told Chinese state television." Mr. G http://finance.yahoo.com/news/Geithner-say...set=&ccode= Link to comment Share on other sites More sharing options...
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