04/05/2012 Live Update

[fehro]

3-4 week range into resistance.

[Petsamo]

So who's placing bets for a gap up?

[Cobra]

well, guess that's it for today. no idea about the next Monday yet, need dig a little. thank you guys, I'll see you the next Monday. Have a nice long weekend!

[KENA]

Cobra..Thanks for the week and everyone have a good Easter.

[Petsamo]

Anyone see that double bottom on IWM ?

[Mr. BachNut]

Position is still neutral. Signals are still in conflict except for the Dow and the Russell 2000, which are flashing sell. However, my McClellan Oscillator read suggests a bounce (unless some crisis runs it to extremes). Also, close seems more bullish than bearish going into three day weekend. So, I'll review post close aftermarket but trigger pulling will probably wait til next week.

This is one flirty market. I am finding a number of data and patterns to call a signal at close but no cigar points. Probably means a breakaway gap when it is most inconvenient...

[Petsamo]

You guys wanna see a real messed up move, look at the 1 minute chart on IWM

[Petsamo]

IWM was rising for 35 minutes, then 2 minutes before the bell, IWM retraced 50%

[mac769]

which will of course be bought immediately by the bots as soon as there is hint of a turning point

[snakehead]

Am I the only one seeing the broken H & S with the 20-day MA as the neckline (today being the confirmation where it
comes back up to touch the neckline -- 'last kiss goodbye' ) ????

[SWalsh]

(out all day)

Put up a 15 min chart and 1 and 2 STD (Bollinger Bands) and look how tight that clam's ass is squeezed.

Anyone else seeing this B-17 Flying Fortress guy?

[xfradnex]

(out all day)

Put up a 15 min chart and 1 and 2 STD (Bollinger Bands) and look how tight that clam's ass is squeezed.

Anyone else seeing this B-17 Flying Fortress guy?

Break out to the down side. But I think it bottomed out to quickly.

[KeiZai]

Sorry guys, few sentences are missing from middle and the end of article, my fault will need to refresh my COPY-PASTE skills from times of "writing" diploma thesis

Its not my article, I am just a trader, not a blogger but will try to get link to credit source and send you via PM (i got it from friend - email)

here is end:
"John Pierpont Morgan gives his opinion on Astroeconomics: "Millionaires don't use Astrology, billionaires do!

wrote by Ashbourne, March 1,2012"

HAPPY EASTER!

[Petsamo]

Oh man, payroll numbers do not look good. Unemployment rate of 8.2% does not look good if the work force participation continues to be destroyed. Futures are down big!

[SWalsh]

Oh man, payroll numbers do not look good. Unemployment rate of 8.2% does not look good if the work force participation continues to be destroyed. Futures are down big!

I'm sure you know how dismal the prospects are for a job now when leaving the military AND how poor the pay is.

The Russian railway was built going north by Stalin at, I believe, 500 yd intervals. Men were placed in rail cars and the locomotive also carried the track to lay with rail and timber as well as wood and barbed wire to build their own prisons/workcamps at the point they ran out of track. Then the next train would come taking the next poor souls 500 yd further to repeat it. Many died thinking "If only Stalin knew he would stop this", when it was his orders that sent them to their deaths.

We have a class of American worker doing extremely well as we declined former IMF president Simon Johnson's warming in "The Quiet Coup" http://www.theatlantic.com/magazine/arc ... coup/7364/(The Atlantic Monthly May 2009) of building an oligarch class. Pravda wrote of Obama making the Russian Oligarchs look like pikers. And with that oligarch class comes one of lesser filth as the new gods do need to be attended to. Yet NYC's higher end restaurants and stores are seeing less business, so perhaps that is ending soon too.

There is no recovery and the unemployment numbers show the growing divide as people just stop looking and this president serves up more bullshit on a plate that the government-media complex embraces. But the American people have been fleeing the market to afford to eat and it appears that the only real buyers, like in the 1920s, are those provided money from the Fed. At least those exiting sold at better levels than they should have. But with state and municipal pension plans holding 35-50% of their assets in stocks, and most of them underfunded at the 50% mark as they based everything on at least a 6% growth/return, we have a perfect storm awaiting a decline. And I have believed that since 2008, the economist who has been wrong on virtually ever major prediction, Bernanke, has feared an implosion that they cannot contain. The one thing he may well be right on he dare not say aloud.

Everything this US President touched has turned to shit and our own Mad King Ludwig just might win a 2nd term. And Bernanke will begin QExx saying, "We can't stop now". In 2009 we really had no chance of being like Argentina. But this corrupt Chicago machine is hell-bent on running on anything but its record of Constitutional violations and criminal actors who contribute nicely to their coffers. We may indeed be facing the brutality of Argentina and its inflation with the presses running 24/7. It is preferred economic policy for with interest rates at zero there will be both deflation and default as in the Great Depression should they stop. And if we had allowed the weak to fail in 2008-2209 the strong would have replaced them. Instead, they bailed out the guilty and piled more debt upon us. Bush did indeed break the free market system. But as opposed to his words for why it had to be done, he didn't save it.

So like Stalin, in a sense, the middle class is being wiped out and the cry I am hearing from even some moderates is that the republicans won't let him do his job and implement his plans. There are no plans aside from an Imperial Presidency. And the greater his chances grow for re-election the greater the chance that the fair-haired boys will also be taken down and taxes raised with a trader tax implemented. I'm not just bearish on this market, I'm bearish on America surviving as we knew it in 4 more years. Bankers I know are doing well with their bonuses, and everyone else in the private sector is worried. I see more articles saying college is now questionable as to being worth the time and money. Food and gas prices are no longer in the CPI. How long can this go on? I guess until each of us reaches the end of our 500 yds of track. Giving this man 4 more years is like buying a first class ticket on Stalin's train and thinking you will not face the same fate as those riding in steerage.