06/09/2012 Weekend Discussion

[Cobra]

Institutional accumulation distribution (courtesy of stocktiming) looks good: Distribution negative divergence, accumulation positive divergence.

[Cobra]

II and AAII.

[Cobra]

Smarty money covering a lot, the chart actually is bullish biased now.

[Cobra]

June SPY open interest favors bulls as long as not very bad news from Euro Zone the next week.

[Seawaves]

[Al_Dente]

Hello Weekenders:

IMF on Spain’s banks
“…while several banks would need to increase capital buffers by about EUR 40 billion in aggregate to comply with … Basel III
… Capital needs in these banks would be larger than this, as…”
http://www.imf.org/external/np/sec/pr/2012/pr12212.htm
click “home” on that page for more

[pezhead9000]

Spain Agrees To "Unconditonal" Bank Bailout" http://www.zerohedge.com/news/spain-agr ... nk-bailout

Twitter quotes:
@The_Real_Fly "‏Free money y'all. Get in the cocaine chuck wagon"
@The_Real_Fly "Market to go up 1,000 points on monday"
‏@CreateCapital "The door is open for unlimited printfest"

[Mr. T]

This is great news!!!


Since Pat Morita isn't here........ SPX 1500!!!!!!!

Hit the turbo button!!!!

[Al_Dente]

“The bulk of the recent rally in Treasuries has occurred when European markets are open…”
This indicates that much (?) of the EUzone asset “flight to quality” ended up in long U.S. Treasurys.
http://screencast.com/t/kwjvgrhEw0B

NOTE: Source is JPM “Fixed Income Weekly” dated 4 June which is their latest.
Since then, $USD and U.S. Treasurys have been correcting…
This chart shows as much, but particularly interesting here is the (pink circle) huge exit from short term notes.
This is likely not due to Ben’s Twist, as he has been selling the shorties for MANY months now.
This looks more like when folks sell their ST bonds/notes to fund their stock purchases…. so we should monitor it carefully….
Perhaps someone could post SHORT TERM NOTE fund charts to see what they say?

http://www.youtube.com/watch?v=faJE92ph ... re=related

ps vote for cobra please once today and once tomorrow

[Al_Dente]

Sometimes when I’d like to see things more clearly, I strip everything down to the simplest, to see if I can find something I may have missed
.… then I take some drugs… that helps too…
What I see here are flags up to the downward-sloping 50 MAs.
They would be quite roughly about a 38% fib retracement upon nearing the MAs.
One might argue that it would be reasonable then to expect a move back down to re-test all those lower lows.
But these are not logical nor reasonable markets, and SPY must go wherever the impending news leads her, and we shall not argue…we shall simply follow.

And we shall try to remember who runs our global financial system: http://www.youtube.com/watch?v=TOSZwEwl ... re=related

“For a long time I limited myself to one color – as a form of discipline.” [Pablo Picasso]

[CAVEAT: These two posts were written last night, before the “salvation” news (thanks pez)….
I thought I’d throw them up anyway, but now especially at least until tomorrow when they revise/clarify that news.]

[BullBear52x]

Hello weekender, everything is up, the bottom process is here, but $RHNYA didn't give me the look I am looking for. so, side ways action to continue a little longer I think. and Friday, that little thing was pointing down that makes you go Hmm....

[Cobra]

Spain Agrees To "Unconditonal" Bank Bailout" http://www.zerohedge.com/news/spain-agr ... nk-bailout

Twitter quotes:
@The_Real_Fly "‏Free money y'all. Get in the cocaine chuck wagon"
@The_Real_Fly "Market to go up 1,000 points on monday"
‏@CreateCapital "The door is open for unlimited printfest"

Is it a good news?

[BullBear52x]

Another one, DBV here, well, guess what? every time a country got downgrade, it's bottom. it's like a signal to get the printing machine in a faster speed? good luck all.

[TraderGirl]

Another one, DBV here, well, guess what? every time a country got downgrade, it's bottom. it's like a signal to get the printing machine in a faster speed? good luck all.

S&P downgraded US in August and we didn't bottom until beg of October....

[TraderGirl]

Hello weekender, everything is up, the bottom process is here, but $RHNYA didn't give me the look I am looking for. so, side ways action to continue a little longer I think. and Friday, that little thing was pointing down that makes you go Hmm....

Nice chart BB!! I don't think we have bottomed yet...we haven't hit the Uranus square to Pluto on June 24, wait until that comes...then we will probably see a bottom soon thereafter....IMHO...

[pezhead9000]

Spain Agrees To "Unconditonal" Bank Bailout" http://www.zerohedge.com/news/spain-agr ... nk-bailout

Twitter quotes:
@The_Real_Fly "‏Free money y'all. Get in the cocaine chuck wagon"
@The_Real_Fly "Market to go up 1,000 points on monday"
‏@CreateCapital "The door is open for unlimited printfest"

Is it a good news?

Personally, it is terrible to backstop the banks. However, I believe it will fuel a rally in the near-term. IMHO

[pezhead9000]

Will watch money flows to see if the big boys fade this

[TraderGirl]

Looks like this rally could fade as early as Monday morning, then turn up on Wednesday...turns on Monday, and Wednesday...

[3DM]

last Sunday night / early Monday morning copper kissed the 200 week moving average (causing ding ding ding bells in my brain). might this be a piece of bottom evidence...

[uempel]

Are you guys here every day? I just posted these two charts for Cobra's members. As it's Sunday I'll post them here too. Do you guys see any odds for the bears? And pls consider that BPs were up last week, and P&Fs look good too.