07/11/2012 Live Update

[pablorynx]

WOW-what the heck happened on TLT - any rumors?

10 year bond auction results, treasury sold them @ 1.459%... lowest yield they've sold them @ I believe.

[ballatines]

that is pretty bearish ~ ~ ~ money flood in Tbond !?

[TraderGirl]

TraderGirl. What do you think about NUGT? Little move up
[EDIT: adding chart}

Sorry, was making eggs for my brood....

Think there is a possibility that we are not done with wave iii, could see more down today or tomorrow...then a possible pop for wave iv?? Depends on whether wave 5 is an abc or 5 wave structure...

But IMHO we could see more down next week....

Looking at GDX there is the possibility that we make a new low for wave 5 if that is the wave we are in....it will have to contend with support near the 40.50 area....

[SWalsh]

WOW-what the heck happened on TLT - any rumors?

It's called "depression economics". As more municipalities go broke they default/postpone debt. The default is if they are allowed to declare bankruptcy. It wasn't the stock market collapse in 1929 that caused the Great Depression. It was an implosion of debt. They are unsure still of what triggered the decline of that magnitude of stocks in 1929.

[MrMiyagi]

Not much moving before the FOMC.

[SWalsh]

Just how corrupt can we get? Anyone going to jail?


FBI warned Labor Department data might be leaked: report

http://www.reuters.com/article/2012/07/ ... 1N20120711
(in part)

"The apparent root cause for the issues driving this assessment is the presence of algorithmic traders in the press lockup facility," the report said.

That in itself is not surprising. Surprising is that the press would report on it.

One step further is that the press was ALLOWED to report it! But it is part of the plan of claiming to have been tough on Wall Street. Schools have dumbed down students for many years. An informed electorate, in general, is something Americans are not. But they know the last 5 winner of "Survivor" and "American Idol". And the FCC gave licenses to broadcast years ago for "the public good".

[Cobra]

don't know if fed minute due in 16 min would dramatically change this. so far the pattern looks like a continuation pattern with QQQ and IWM leading down. don't know which one hold RSP and SPY.

[TraderGirl]

NUGT on 1 minute shows a bear flag...

[heavenskrow]

yawwwwwn

[Petsamo]

IWM looks like it has a rebound

[ClarkW]

TraderGirl. What do you think about NUGT? Little move up
[EDIT: adding chart}

Sorry, was making eggs for my brood....

Think there is a possibility that we are not done with wave iii, could see more down today or tomorrow...then a possible pop for wave iv?? Depends on whether wave 5 is an abc or 5 wave structure...

But IMHO we could see more down next week....

Looking at GDX there is the possibility that we make a new low for wave 5 if that is the wave we are in....it will have to contend with support near the 40.50 area....

Thanks TG!

[ballatines]

anyone looking for a huge up after FOMC minute?

[brandyjoco]

Tradergirl - thanks for the charts on NUGT!

[Mongoose]

santelli plugged nigel farage

heres the video

the genius of mutual indebtedness
http://www.youtube.com/watch?v=TN_1mF-3JTI

[OverUnder]

Well, it's interesting, a lot of Fed governors came out in the couple weeks before the meeting and were talking about how further easing was a strong possibility, to paraphrase. Didn't really materialize at the meeting itself but maybe we here some additional color from those members in the minutes.

anyone looking for a huge up after FOMC minute?

[OverUnder]

Those who were looking for iH&S, you have one now.

[Cobra]

show time.

[TraderGirl]

Tradergirl - thanks for the charts on NUGT!

[Petsamo]

We have excitement

[MrMiyagi]

I say flat and then Cancel Christmas.