06/25/2016 Weekend Update

[Junior Buffett]

Scott Redler ‏@RedDogT3:
What's after Brexit?
Grexit! Departugal! Italeave! Fruckoff! Czechout! Oustria! Finish! Slovakout! Latervia! Byegium!

London (CNN)From Brexit to #Regrexit -- an online petition demanding a second referendum on Britain's decision to leave the EU has passed 3 million signatures.
By Sunday morning, 3,048,000 people had signed the petition on the official UK Parliament website. That number takes it well over the 100,000-signature threshold needed to force a debate on the issue by members of Parliament….

http://www.cnn.com/2016/06/25/politics/ ... index.html One thing for sure.. -xit words are trending up going parabolic

Still looking of a possible 200d tag retest of the Thursday night lows. early next week.. mon or tues. then maybe drift up for EOW,EOM, EOQ, long weekend next weekend.. "usually" bullish.

When Futures open.. will see.

No petition going to change the decision...sooner people accept better for them...exit is one way road..Britain can never be part of EU again, as per EU Agreement

[Cobra]

Guys, please don't forget our weekly sentiment poll here, thanks: viewtopic.php?f=9&t=2085

[sleeman]

Short since Fri Morn. Will try to trade off resistance, and add to it on any rebounds, but seems like it will drop hard and fast and would want a test of the 1900-1850 area.

[Al_Dente]

ROUNDUP:
Vincent Deluard, Europe Strategist for Ned Davis Research: “Our gut feeling is that things will get solved the European way: very lengthy negotiations will be finally settled down at the last minute with a compromise that will kick the can down the road”—and, in the end, “nothing will change.”
There’s more than just cynicism, to suggest that the stock market may be overreacting to the Brexit decision. Consider a study of 51 major geopolitical crises since the beginning of the 20th century that was compiled by Ned Davis Research. The list includes events that most everyone would agree are even more momentous than whether or not the U.K. ways a member of the EU—events such as the 9/11 terrorist attacks, Pearl Harbor, the Cuban missile crisis and the Kennedy assassination. The firm found that, more often than not, the stock market quickly recovers from the losses it inevitably incurs in the immediate aftermath of such a crisis. On average across all 51 crises, the Dow Jones industrial average within six months was higher than where it stood prior to the market’s initial plunge. Within a year it was 6.3% higher.”

George Slezak, editor of the Stock Market Timing advisory service, believes the recovery will be even quicker than these historical data would suggest. He is advising clients to expect a “full recovery” in just a “few days.”

Dan Wiener, editor of The Independent Adviser for Vanguard Investors advisory service, writes that the market’s drop “creates massive opportunities” for shrewd investors to “pick up bargains, which, over time, will be validated, even if we don’t see it today, next week or even next month.”

Jim Lowell, editor of The Fidelity Investor advisory service, adds that the big down days like Friday “don’t destroy our wealth, they help us build it.”

In a study of 14 non-economic shocks since WWII, S&P Capital found that US indices bottomed within 6 days and had regained all of the losses within 2 weeks.
[Credit: Urban Camel]

[brucekeller]

It is kind of an economic shock though too isn't it? I wonder what the stats are for the drops near all time highs?

[jademann]

BREXIT what was accomplished? (my view)

1. The UK will likely disintegrate with Scotland and N Ireland breaking away to stay in Europe. That is a CATACLYSMIC disaster for the UK.

2. The city of London will go into a long decline moving to Europe and NY. That is a disaster for the UK when you think about the size and GREAT importance of the financial sector in the UK.

3. Businesses will be permanently locked out of Europe and their trading partners, meaning many businesses will fail or at least shrink.

4. House prices with fall 30-50% due to the strain on the economy.

5. There will be social unrest - hopefully no more sick NAZI killings like the lady minister recently.


My view the perpetrators (Independence party leaders) of this total unmitigated disaster should be taken out and shot for treason or at least thrown in the tower for all time.
They WILL LIKELY HAVE accomplished what even Hitler couldn't, the break up of the UK.

Also Krugman calls Murdock and editors EVIL for brainwashing the (dumb SHEEP) uneducated British public - ME? I BET MURDOCK WAS SHORTING GBP, anything for a buck Murdock.
http://krugman.blogs.nytimes.com


Regards a deeply ANGRY and embarrassed Brit living in AZ. What an own goal and fk up, the UK is toast. Apologies if I offended.


PS And as usual the French being particularly nasty when it comes to Britons: Still haven't figured what their problem is all the time.
http://www.dailymail.co.uk/news/article ... l?ITO=1490

[Daniel]

ROUNDUP:

Thanks for these recaps.



"Dan Wiener, editor of The Independent Adviser for Vanguard Investors advisory service, writes.."

Here's a comment on Mr. Wiener from the 3/1/2016 issue of Kiplinger online: "Over the past 15 years, one of the Hulbert Financial Digest’s top-performing fund newsletters, based on both raw returns and risk-adjusted returns, is The Independent Adviser for Vanguard Investors. Editor Dan Weiner has achieved those results almost entirely by recommending investments in Vanguard’s low-cost, actively managed funds."

[Out of Bounds]

I've gone long 2006.75 thinking a little rebound before the downtrend resumes.
Good luck to everyone else trading tonight.

[sleeman]

es shorted at 13 and 9.25 some more

i think it'll break 2000 tonight, at least test it a few times

[fehro]

/ES <200d <50w SMA 2015 can't get over & looses 1996ish next level 1984 goes. 1954 measured move of wedge break. upside wedge retest 2051 red trend.

[Out of Bounds]

I've gone long 2006.75 thinking a little rebound before the downtrend resumes.
Good luck to everyone else trading tonight.

Sold and shorted at 2007. if nothing develops down, then I'm out for the night.

[Out of Bounds]

I've gone long 2006.75 thinking a little rebound before the downtrend resumes.
Good luck to everyone else trading tonight.

Sold and shorted at 2007. if nothing develops down, then I'm out for the night.

Looks too choppy. I'm out at 2007.50.

We'll see tomorrow.