06/11/2012 Live Update

[Al_Dente]

auole
gold
http://www.zerohedge.com/news/visualizi ... etite-gold

[rpccharts]

Dan Norcini's notes on Gold - I would not long NUGT till its daily/weekly lows are tested except for quick scalp

http://traderdannorcini.blogspot.in/

[MrMiyagi]

So is the bailout cancelled Power-Hour style or just not finalized?

[uempel]

Update for the 11:50 signal:

[MrMiyagi]

No point in waiting....

[snakehead]

Snake head - my dear contrarian - would you pretty please give me a more graphic something?

I'm just going by simple P&F charts and Aroon indicator on the daily charts (for example in Stockcharts)!

[SWalsh]

So is the bailout cancelled Power-Hour style or just not finalized?

I just spoke with an economist who is again teaching a summer class on financial booms and busts using Reinhardt and Rogoff's seminal work in "It's Different This Time" as the major text.

Each time this is done it is producing less than stellar results. When the time comes that the Lender of Last Resort (the US Fed)is seen as impotent, the mkt will trade freely and at significantly lower levels. When is that? Sooner rather than later is about as good as one can say while it's very possible that they will continue to use the government cheese, in the form of HFT trading, to prevent declines. I have started calling this High Fascism Trading as the banks have been pseudo-nationalized. That way, they can hide their manipulation in plain sight.

[cougar]

Well, Cougar, anybody else thinking gold, here is my daily short signal. Of course it wasn't until the big DONGGGG went off in 6 decade old neuron synopses and I 're-got' short near Friday's sort of high. If you're thinking of shorting your intraday high timing I will try to input something if U just say so. But warning on taking any of my intraday sort of sometimes not so great ideas.

The attachment goldDyStoSell11June12Cobra.png is no longer available

By the way, Coug, respectfully spaghetti Al, Cobraaa, any confirms or 'not yet's' or contrarians, as a first for me, buying to Sell RGLD, bbbbbullbbbbear, Uempl,I really do honor all you seasoned traders here!?????

The attachment RGLDcobra11June12.png is no longer available

PS - Even mention of "Triggering Credit DEFAULT Swaps" gets me nervous....

Very nice Auole!
Today: the Spanish Hour! Small bounce for $EWP (Spain) from MM 7/8...but short sellers are still there
A drop through 7/8 would be spectacular!

[MrMiyagi]

Thanks Swalsh, the more bailouts the less the effect. Desensitizing.

[uempel]

Update:

[KENA]

Well, Cougar, anybody else thinking gold, here is my daily short signal. Of course it wasn't until the big DONGGGG went off in 6 decade old neuron synopses and I 're-got' short near Friday's sort of high. If you're thinking of shorting your intraday high timing I will try to input something if U just say so. But warning on taking any of my intraday sort of sometimes not so great ideas.

goldDyStoSell11June12Cobra.png

By the way, Coug, respectfully spaghetti Al, Cobraaa, any confirms or 'not yet's' or contrarians, as a first for me, buying to Sell RGLD, bbbbbullbbbbear, Uempl,I really do honor all you seasoned traders here!?????

RGLDcobra11June12.png

PS - Even mention of "Triggering Credit DEFAULT Swaps" gets me nervous....

You need something like my Avatar.(jokeing)

[pezhead9000]

In other news: "The Weekly Leading Index (WLI) of the Economic Cycle Research Institute (ECRI) dropped to 121.6 from last week's 122.3 (a downward revision from 122.4)"

http://advisorperspectives.com/dshort/u ... -Index.php

[snakehead]

Thanks Swalsh, the more bailouts the less the effect. Desensitizing.

http://www.youtube.com/watch?feature=pl ... qoq9jIjpNM

[KENA]

I have not had time to post my charts but they are saying caution on the up side.I will post later been busy.

[rpccharts]

Gold Daily Technical Outlook
http://oilngold.com

Despite recovery initially, gold failed to sustain gain and dipped back below 1590 level.
As noted before, price actions from 1526.7 to 1642.4 should be a three wave correction
pattern that's finished.

Hence,deeper decline is favor ahead through 1526.7 to 1500 psychological level.

Though, we'll look for reversal signals again below 1500. On the upside, above 1642.4
will invalidate this bearish case and indicate that fall from 1792.7 has completed already.

In such case, bring stronger rebound should be seen to 1700 and above instead.

[CognitiveDissonance]

So is the bailout cancelled Power-Hour style or just not finalized?

I just spoke with an economist who is again teaching a summer class on financial booms and busts using Reinhardt and Rogoff's seminal work in "It's Different This Time" as the major text.

Each time this is done it is producing less than stellar results. When the time comes that the Lender of Last Resort (the US Fed)is seen as impotent, the mkt will trade freely and at significantly lower levels. When is that? Sooner rather than later is about as good as one can say while it's very possible that they will continue to use the government cheese, in the form of HFT trading, to prevent declines. I have started calling this High Fascism Trading as the banks have been pseudo-nationalized. That way, they can hide their manipulation in plain sight.

Here's an earlier working paper if you're like me and don't have time to read the entire opus.

[fehro]

$VIX ....day is far from over... but interesting bounce point.

[SWalsh]

Thanks Swalsh, the more bailouts the less the effect. Desensitizing.

I think it's an October update at John Hussman's site (online) that showed the Japanese printing of money accomplished nothing as there was an almost perfect correlation with velocity. The more they put out there the slower it moved, which meant the same amount of commerce was taking place.


We have an economic illiterate in the WH and his "Aunt Bea" (Christine Rohmer) resigned her Czar post saying it wasn't working. And for a woman with so much in the way of Marxist philosophy running through her background, maybe she woke-up when Cuba started rejecting some of the programs this clown has been enacting.

I heard a great call to a show by a NYC cop the other day. He said they keep training on restraining the US public rather than going after criminals. It's similar to our banking system in that rather than try to approach the problem they prepare to deal with the likely aftermath of stupidity. It was good to hear that most cops are telling them if ordered to oppress the people here they can take their paychecks and stuff it as they'll be leading the charge. Since Day One everything in America has become a crisis. The crisis, and pity of it, is that we have done nothing to make out economic system safer from catastrophe and instead built oligarchs and appointed czars. I know Marines who won't let their sons enlist until this guy is removed. He's trying to gut the Corps by 25%. How much respect can a president have for the people when he has utter contempt for the military? I know that almost first hand but cannot say why. I'm no fan of republicans, and if Romney feeds the banksters I say impeach him if he is elected. But there has never been more of an "US" and "THEM" in the last 100 years than what we have seen done now and we are at greater risk each day as the European contagion moves towards us. We are all Greeks.

[uempel]

So is the bailout cancelled Power-Hour style or just not finalized?

I just spoke with an economist who is again teaching a summer class on financial booms and busts using Reinhardt and Rogoff's seminal work in "It's Different This Time" as the major text.

Each time this is done it is producing less than stellar results. When the time comes that the Lender of Last Resort (the US Fed)is seen as impotent, the mkt will trade freely and at significantly lower levels. When is that? Sooner rather than later is about as good as one can say while it's very possible that they will continue to use the government cheese, in the form of HFT trading, to prevent declines. I have started calling this High Fascism Trading as the banks have been pseudo-nationalized. That way, they can hide their manipulation in plain sight.

Here's an earlier working paper if you're like me and don't have time to read the entire opus.

Equity trader's problem with RR's great book is the timing of market dislocations. For necessary and reasonable market adjustments it's impossible to set a date...

[MrMiyagi]

We are all Greeks.

OPA!!!!

Nice insight..