06/21/2012 Live Update

[BullBear52x]

Intraday oversold, but since we are in sell the rip mode lets see how it reacts here.

R U short IWM? hope so! It is now in a support zone...If it breaks it....=> 77

yes sir, evil TNA swing short set up.

GOOD! IWM ~77.42 (S2) is now resistance:

Thanks Cougar.

[ClarkW]

News Alert
from The Wall Street Journal


The European Central Bank is considering steps to relax its collateral rules for central-bank loans in a bid to ease strains on commercial banks in southern Europe, according to a person familiar with the matter.


ECB officials have discussed making more types of securities, including certain mortgage-backed and asset-backed securities, eligible as collateral at its lending facilities, the person said. An ECB spokesman declined to comment.

This can't possible have negative consequences

[soku]

who was trading ARNA yesterday?

i missed the ONXX move...

still got in at 30 and sold at 45...but hot damn, it would've been nice to capture today's 35% move.

damn arna at 11.3. i reduced some exposure yesterday. i thot 40% in 1 week is good.

[OverUnder]

Spanish bank audits out much better than expected

Spanish banks need 16-25 billion in baseline scenario

51-62 billion in adverse/stress test scenario

Roland Berger's adverse scenario is 51.5 billion.

The biggest 3 Spanish banks do not need capital.

Problems are limited to a small group of banks for which Spain has already started to act.

[Mr. BachNut]

One comment on Crude Oil.
Look at a weekly chart.
Yesterday, it pierced below a rising bottoms line from the February 2009 low.
It has been consolidating above this line for the last four weeks. So, the line was providing support.
The significance of the break probably explains the big volumes in USO yesterday.
It could be a move to force capitulation and set up for the turn, but if not, a revisit to those 2009 lows is technically in the range of outcomes over a longer time horizon.
Hard to believe.
The follow through from here should be informative.

I took a quick look and I saw 60.00 oil in 2009????

Like I said hard to believe. No one thought we would see $2 Nat Gas either.
If this is not a capitulation move to set a low, I'll be inclined to look at the October 2011 low as a target for a possible double bottom.

[BullBear52x]

GOLD bug

Gold miner is not doing so bad Hmm...

[MrMiyagi]

What can you say on a day like this?

I did post NYMO charts pointing to this exact drop happening so I hope all here profited from that information. In the meantime, I drag out The Buttons.

[Cobra]

as i said, the rebound failed. now let's see if any chances a small double bottom here.

[BullBear52x]

Crude 74ish?, good luck all, leaving early today. got to go for a walk before doing something TUPID.

[Al_Dente]

GOLD bug

1.JPG

2.JPG

Gold miner is not doing so bad Hmm...

3.JPG

bb could u make up one of those great 60min charts on GG Goldcorp
if u have time
thanks very much

[BullBear52x]

GOLD bug

The attachment 1.JPG is no longer available

The attachment 2.JPG is no longer available

Gold miner is not doing so bad Hmm...

The attachment 3.JPG is no longer available

bb could u make up one of those great 60min charts on GG Goldcorp
if u have time
thanks very much

Here it is, gtg later.

[rpccharts]

GLD BUY SIGNAL 60 min chart

[Mr. BachNut]

Crude 74ish?, good luck all, leaving early today. got to go for a walk before doing something TUPID.

One more thing looking at that chart. If you break below 75ish, you will complete a classic double top with a pretty big measured move further down.
Something to watch. Seems like there may be good trading in this stuff next 12 months.

[ClarkW]

GLD BUY SIGNAL 60 min chart

Nice find! Do you have the range for the Bearish Gartley from $149.17-152.26?
Here's what I have for the range calcs
AB=CD: $152.26
XA*.786%: $150.81
AB*1.27%: $151.33
AB*1.618%: $149.17

[HuyVanLang]

Bloody day

[ClarkW]

Bloody day

Little U2 http://www.youtube.com/watch?v=JFM7Ty1EEvs

[shaca]

economic data all over the world have been bad in the last months
the market realized that there won't be a QE
so now the market won't go up anymore as it did till yesterday when there are bad economic news hoping for a QE

just watch commodities, deflation is the idea.
i think the deflationary idea will be more serious if gold breaks down 1500

[nambip]

Cobra,

wow , SPY doent even bother the 134.0 support seems like the bears in full control today, is 133.5 next support area ?

[Cobra]

volume surge, might see rebound but the rebound would fail.

[Cobra]

Cobra,

wow , SPY doent even bother the 134.0 support seems like the bears in full control today, is 133.5 next support area ?

strong support, SPY 132.5 area.