07/06/2012 Live Update

[Cobra]

well, guess that's it for today. judging by the close, looks like someone knows some news in the weekend. I have no bias for the next Monday for now and a little bit bigger picture, the market gives no clear answer yet, so guess, yet again, we'll have to wait for the next Monday. Thank you guys, I'll see you the next Monday, no, I mean I'll see you tomorrow as now the weekend discussion thread does have many readers...

[SWalsh]

Dax want to get back with spx drive...forget about it daxyboy it is very strong trendline buddy...no chance

Those silly Germans!

I'm reading a great WW II book "The Storm of War: A New History of the Second World War".

I did not know, and I think few do, that Hitler launched Operation Barbarosa and expected the Slav to fall inside of six weeks. He wanted to defeat them so he could take over Britain as that was Churchill's only hope. Well he was right there. He just didn't figure on -20 degrees Celsius when six weeks had long passed. My point is that I expect Germany to fail in trying to keep everyone afloat so they don't sink.

[MrMiyagi]

Thanks Cobra.

[Cobra]

nothing to say, usually this kind of rebound should be 2 legged but 16 to close now.

Master Cobra, do you think this is more short covering?

nobody dare to hold short over the weekend in case some other crash bailout plan announced in the weekend. I dare not hold short too.

[Al_Dente]

OH MY GOODNESS
$VIX and all the vixies…..
Honey badgers

What a scam.......
How can anyone look at that and say it makes sense.

Mr T
It just means the options and futures volatility traders are leaning pretty bullish, no?
And by "leaning" I mean the way the Titanic started leaning……….

[Mr. T]

OH MY GOODNESS
$VIX and all the vixies…..
Honey badgers

What a scam.......
How can anyone look at that and say it makes sense.

Mr T
It just means the options and futures volatility traders are leaning pretty bullish, no?
And by "leaning" I mean the way the Titanic started leaning……….

Well, if it's leaning that bad - shouldn't they be falling off the ship???

Looks like a scam to me.

[SWalsh]

It seems like the turd (market) is still floating up with HTF help (not down). I don't see much good news except that every now and then someone throws out a life preserver with a hidden lead weight attached. When will the point come when we know the land slide will occur and HFTs will become ineffective?

An economics professor I know who is double booked (waiting list) each semester now on a course he designed, "Economic Booms and Busts in History", assures me that the way this must end is ONLY when the major players no longer believe the Lender of Last Resort (LOLR) is solvent enough to cause markets not just to be moved by it, but to fear it. The US Fed is the ONLY LOLR now. In Sept 2008 as Putnam announced it could not pay the $1 a share on its money market fund, Bernanke guaranteed every dollar deposit in existence. It only absolutely ends when we are impotent. A reading of economic disasters show there was no one there to intervene with authority and nature ran its course. And while people have been talking hyper-inflation and printing money, it's not working. Bernanke knows the odds are far greater we are going to see deflation. And that that point, defaults start and multiply.

When? I'd say sooner than later. For all the people calling Bush a dope for telling people after 9/11 to go to the malls and spend some money, he did that because if consumers cut spending by 10-15% we implode. Economic advisers said to make that point clear that it was patriotic to not be afraid....and spend some money to show them we aren't afraid. But it was all about keeping the credit card economy going.

[EvilTrader]

OH MY GOODNESS
$VIX and all the vixies…..
Honey badgers

What a scam.......
How can anyone look at that and say it makes sense.

Mr T
It just means the options and futures volatility traders are leaning pretty bullish, no?
And by "leaning" I mean the way the Titanic started leaning……….

PRETTY NORMAL BEHAVIOR JUST BEFORE OPEX WEEK.

[SWalsh]

nothing to say, usually this kind of rebound should be 2 legged but 16 to close now.

Master Cobra, do you think this is more short covering?

nobody dare to hold short over the weekend in case some other crash bailout plan announced in the weekend. I dare not hold short too.

Short (from higher)

[Al_Dente]

PAGING XFRADNEX
Lets see yr closing elders
“Don’t make me stop this car”

[SWalsh]

Historically it hadn't gone above 100 for 3 years (possibly 6) so unless you are invading Russia, history might not repeat itself.

LOL...good one!

[noob]

nothing to say, usually this kind of rebound should be 2 legged but 16 to close now.

Master Cobra, do you think this is more short covering?

nobody dare to hold short over the weekend in case some other crash bailout plan announced in the weekend. I dare not hold short too.

precisely why if nothing happens over the weekend will be down 10 points before market opens.

[jdow]

NOT OPEX WEEK next WEEK

OH MY GOODNESS
$VIX and all the vixies…..
Honey badgers

What a scam.......
How can anyone look at that and say it makes sense.

Mr T
It just means the options and futures volatility traders are leaning pretty bullish, no?
And by "leaning" I mean the way the Titanic started leaning……….

PRETTY NORMAL BEHAVIOR JUST BEFORE OPEX WEEK.

[TradingJackal]

Long and strong. To 1390, I say.

[rc1269]

Does this activity seem like we've seen it before?....maybe 7 days ago?

those don't look very similar. to me today looks more similar to last thursday (6/28) or monday (6/25). both gap down with bowl bottoms

[TradingJackal]

Two options I am tracking. Monday/Tuesday may not be up up and away. TICK touched 1000 twice today. The second time it lead to a rally. No fear in the market. I guess unless we get some unexpected bad,bad,bad news, we will just keep melting up.

[snakehead]

Two options I am tracking. Monday/Tuesday may not be up up and away. TICK touched 1000 twice today. The second time it lead to a rally. No fear in the market. I guess unless we get some unexpected bad,bad,bad news, we will just keep melting up.

Thanks for your posts.

I'll use those as a contrarian indicator.
Island reversal gap down to 133 on Monday.

[xfradnex]

Daily Elders. World markets(12/15) are almost all blue. UNG Blue.

[Petsamo]

Short (from higher)

It was just yesterday when someone was slamming you for going against the market.

[SWalsh]

Yes, but I think it's going to break out soon....

TLT breakout = market breakdown?

The mkt can do anything, but TLT looks like the top is in unless it extends. If that's the top it was some ride and we will also have investors themselves downgrade our debt. This could be wave 2 bouncing up, or a B wave. If this is corrective (B) a drop would have C=A around 121.25, if only .618 then around 123.60.

The HFTs have made the stock market a joke at times, but the bond mkt is far bigger and I don't know if they are able to move it as such. Besides, I thought we were worse than Greece in the final analysis?