DrStool Posted August 31, 2007 Report Share Posted August 31, 2007 qqqq 5 hr cycle projection 49 was hit. 3 day cycle projection looks around 49.30. Depends on how deep the 5 hr cycle pullback is. Support line around 48.80. If that holds, new high should follow. If it doesn't the 3 day cycle MA now at 48.58, a 3 day trendline at 48.46 and and the 5 day cycle MA now at 48.41 would then come into play. No trend break until those are busted. Link to comment Share on other sites More sharing options...
Lemur Posted August 31, 2007 Report Share Posted August 31, 2007 THe plutocrats taking advantage of a slow market day to make some Happy Print. The talk today will be as good as it gets, and The Street knows that. Equivocation (a market stall) will flush this thing. Maybe they'll levitate it through next Tuesday. 604451[/snapback] Its not just the US index's, Asia and Europe have also soared today. Not sure how the plutocrats can co-ordinate things so well if its just a 'paint the tape' exercise. Maybe the bears are really on the wrong side of the track. Guess we'll have to watch LeeW's line in the sand at S&P 1480 for clues. LeeW - I take it you are planning on going short there as long as we dont punch through convincingly. Link to comment Share on other sites More sharing options...
DrStool Posted August 31, 2007 Report Share Posted August 31, 2007 These gaps up are really funny this morning. Check out the XLF. The playahs really think that Bush is going to bail them out. Link to comment Share on other sites More sharing options...
4shzl Posted August 31, 2007 Report Share Posted August 31, 2007 Bank of England Loaned 1.6 Billion Pounds at 6.75% Aug. 30 (Bloomberg) -- The Bank of England, acting as the lender of last resort, extended 1.6 billion pounds ($3.2 billion) at its highest interest rate, suggesting commercial banks are reluctant to provide credit after the collapse of the U.S. subprime-mortgage market. The money loaned at the 6.75 percent penalty rate yesterday was the most since July 2, when the central bank advanced 1.93 billion pounds under the standing facility. The facility was last tapped on Aug. 20, when Barclays Plc borrowed 314 million pounds after a loan from HSBC Holdings Plc was delayed. The central bank declined to identify today's borrower or borrowers. The Financial Times reported that it was Barclays Plc. ``When people tap into this facility, it can mean only one thing: liquidity is gone,'' said John Anderson, who manages the equivalent of $3 billion of assets denominated in pounds as head of fixed income at Rensburg Fund Management in London. 604412[/snapback] Barlays ex-CDO chief vanishes By Darla Mercado August 29, 2007 Edward Cahill, formerly Barclays Capital?s head of European collateralized debt obligations, has gone missing, published reports said. Mr. Cahill resigned from his post last Thursday InvestmentNews, Aug. 24 and has not been seen by families or friends since, according to the Daily Mail. His disappearance, following the collapse of the CDOs, recalled trader Nick Leeson, who fled Britain?s Barings Bank after losing 830 million pounds ($1.67 billion) of the firm?s money, The Sun reported. The loss led to Barings? collapse. But a Barclays spokesman told the Daily Mail that the idea that Mr. Cahill would repeat Mr. Leeson?s example ?was just stuff and nonsense.? Still, Mr. Cahill?s vanishing act was enough to worry Dublin-based Euro Matrix Fund, where he is a director. Two other directors, Werner Schwanberg and Mirja Wensky held a meeting last week to make sure their firm?s funding was still secure, the Daily Mail said. Mr. Schwanberg was unable to contact Mr. Cahill, but says that as far as he is aware, the funds are safe, the Daily Mail reported. Link Link to comment Share on other sites More sharing options...
I_Am_Madness Posted August 31, 2007 Report Share Posted August 31, 2007 Jeezz.. Dow was down 260 points on Tuesday. Dow was up 240 points on Wednesday. Dow gap down 100 point at the open on Thursday and gap gets filled. Dow gap up 100 point on friday and gap gets _______ . Link to comment Share on other sites More sharing options...
patents Posted August 31, 2007 Report Share Posted August 31, 2007 Hopefully without anyone mocking me - At what point will the comparisons to the fractal patterns of '29 and '87 be voided? Is there any fractal rule that at an X percent deviation from the pattern, then there is not a pattern match? It is easy to go back in history and find Elliott Wave or fractal patterns that match. Over the years I have found it more difficult to predict that a particular formation is going to result in matching an earlier pattern, which cause all the Elliott wavers to renumber or adjust their counts. Link to comment Share on other sites More sharing options...
Slappy Posted August 31, 2007 Report Share Posted August 31, 2007 Jeezz..Dow was down 260 points on Tuesday. Dow was up 240 points on Wednesday. Dow gap down 100 point at the open on Thursday and gap gets filled. Dow gap up 100 point on friday and gap gets _______ . 604460[/snapback] I know where you're goin' wit dat. I can't think there are very many of the Hampton gang that want to be holding long through the weekend, so it may be a good opatunity for some putz. There may be some strong short covering first though. I'm lookin' at you MER. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted August 31, 2007 Report Share Posted August 31, 2007 There goes Citicorpse.. 47.12 in prehour. They got 30 minutes to put a lid in this. Link to comment Share on other sites More sharing options...
potatohead Posted August 31, 2007 Report Share Posted August 31, 2007 end of month window dressing and speculation about any Bernanke comments pertaining to a rate cut, all are contributing to the strong futures showing - if Bernanke does NOT make any mention about a cut, markets could get hit on a very light normal volume day due to the long vacation - he is due to speak at 10 am so we will look for trades and await his commentary - we do not have to be a hero here... Link to comment Share on other sites More sharing options...
potatohead Posted August 31, 2007 Report Share Posted August 31, 2007 from a very good trader this morning...Even though the inflation data was better than expected and now within the range desired by the Fed, with the U.S. Gov't and a Bush speech slated to help mortgage holders, we believe there will NOT be a cut announced and it could dampen this early excitement - we will wait to see what happens... Link to comment Share on other sites More sharing options...
potatohead Posted August 31, 2007 Report Share Posted August 31, 2007 WASHINGTON (Dow Jones)--With concerns over the housing sector weighing on financial markets, President George W. Bush on Friday will unveil initiatives designed to help people with subprime mortgages hold on to their homes. Bush will make a statement on homeownership financing at 11:10 a.m. EDT Friday, the White House said. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted August 31, 2007 Report Share Posted August 31, 2007 WASHINGTON (Dow Jones)--With concerns over the housing sector weighing onfinancial markets, President George W. Bush on Friday will unveil initiatives designed to help people with subprime mortgages hold on to their homes. Bush will make a statement on homeownership financing at 11:10 a.m. EDT Friday, the White House said. 604467[/snapback] Has anyone inform Bush the WMD that he's wasted billions looking for in Iraq showed up in Manhattan yesterday? How bout that! Link to comment Share on other sites More sharing options...
PyurAureo Posted August 31, 2007 Report Share Posted August 31, 2007 I'm kinda' surprised that there's only 5M Qs PM Link to comment Share on other sites More sharing options...
Brick Stoolhouse Posted August 31, 2007 Report Share Posted August 31, 2007 end of month window dressing and speculation about any Bernanke comments pertaining to a rate cut, all are contributing to the strong futures showing - if Bernanke does NOT make any mention about a cut, markets could get hit on a very light normal volume day due to the long vacation - he is due to speak at 10 am so we will look for trades and await his commentary - we do not have to be a hero here... 604465[/snapback] This is the 3rd Friday in a row they have done the Pre Market Futures jam job! This is giving a gift to the end of the month tape painters.It won't last past Monday of next week.I was standing aside waiting for these shennanigans but now its time to do some Put window shopping. Let me see afew COF here, a few TLT there.Look at Gold today! Ben can't be liking that! Link to comment Share on other sites More sharing options...
DrStool Posted August 31, 2007 Report Share Posted August 31, 2007 spx 5 hr cycle projecition 1475-77 Link to comment Share on other sites More sharing options...
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