03/16/2013 Weekend Update

[kenttown]

The most frightening thing about this is that all of the ridiculous things the leaders of the EU have done previously has been done in the name of stabilization yet they either abandoned that now or were, more likely, too foolish and detached to see the possible psychological ramifications of this on a global scale.

As the EZ recession gets deeper there will be more abandonment. It's votes that matter now, esp for Merkel.

[TWT]

$ES_F (Globex): Gap down to the Cyprus news

[stlwater]

Saw the print of the volume on SPX and was planning on going short on Monday.. Figured we might even have an up Monday and a nice hourly entry... That's out the window. Going to have to sit on my hands now till something takes shape.

Well, glad to see PMs up. I wonder how GDX will react? Thoughts?

[TradingJackal]

Nice gap up in GLD. Hoping it sticks till morning. If it does, I will hold on to my calls for 2-3 days as it should take 2-3 days of rally (maybe more).

[Unique]

Cyprus bailout has been announced today and they're slugging depositors with 100K or more with 9.9% levy and 6.75% levy for under 100K. There might be a bank run over there and possible spill over effect to other EZ countries.

Hmm..so this is how they gonna rob people going forward...take note US citizens..be wary...

[Unique]

Nice gap up in GLD. Hoping it sticks till morning. If it does, I will hold on to my calls for 2-3 days as it should take 2-3 days of rally (maybe more).

I'm waiting for that 156.8 price confirmation, don't wanna lose money bottom fishing a dangerous area..

[Unique]

ES Support

3 handle risk for (1539-3=1536) for 1546 retest maybe...I'll prob wait, not gonna stand in front of a bear pounce

Second try on support is here, hopefully we get 1532.50 bargain and then oversold bounce to 1540, 2.5 risk for 10 potentially

[TradingJackal]

Nice gap up in GLD. Hoping it sticks till morning. If it does, I will hold on to my calls for 2-3 days as it should take 2-3 days of rally (maybe more).

I'm waiting for that 156.8 price confirmation, don't wanna lose money bottom fishing a dangerous area..

I am tracking the C wave to the upside on an ABC correction. I do not believe it is ready to reach the stratosphere yet. I will look at GLD for long term after SPX climbs above 1580.

[gappy]

Nice gap up in GLD. Hoping it sticks till morning. If it does, I will hold on to my calls for 2-3 days as it should take 2-3 days of rally (maybe more).

I'm waiting for that 156.8 price confirmation, don't wanna lose money bottom fishing a dangerous area..

This helps the "investment" currency; Uncle Buck. If needed, FOMC will slap down the PM's with murmurings of an easing reduction. A positive Cypress vote validates punishing the Russian oligarchs hot money deposits there. Can the Mexican drug cartels spreadsheet be far behind?

[TradingJackal]

Nice gap up in GLD. Hoping it sticks till morning. If it does, I will hold on to my calls for 2-3 days as it should take 2-3 days of rally (maybe more).

I'm waiting for that 156.8 price confirmation, don't wanna lose money bottom fishing a dangerous area..

I am tracking the C wave to the upside on an ABC correction. I do not believe it is ready to reach the stratosphere yet. I will look at GLD for long term after SPX climbs above 1580.

I take that back. From Oct to Feb 20th, I can see an ABC correction so they may be the impulse to the upside. Regardless, my timeframe is very short for this wave up just to let folks know. I have very short term calls open - 22nd and 28th march.

[Out of Bounds]

Yeehawww!

'Bout damn time.

[Xian]

Will Cyprus be the butterfly of Chaos Theory for European economies?

If we look at the facts it's unlikely: Cyprus has less inhabitants than the Bronx, 1.2 million versus 1.4 million, but per capita income is nearly 30'000 $ versus 17'000 in the Bronx and 32'000 in NY.

But if we consider the crazy idea of confiscating private money - hey, that's destablilization par excellence. I can hardly believe that politicians outside of North Korea or Zimbabwe can conceive something like that.

+1 homeslice.

However, not a ton of press on Germany. Why not? They're the ones here, "Take private money from depositors or default, bitches."
It ain't like this was an idea that originated w/ Cyprus.

So, when you say, "I can hardly believe that politicians outside of North Korea or Zimbabwe can conceive something like that." Germans can. Germans can conceive of stuff like that. That's right in their wheelhouse.

Wha? Germany effing over Europe? That *hardly* ever happens.

Congrats to the shorts. Wish I was there.

[Unique]

Nice gap up in GLD. Hoping it sticks till morning. If it does, I will hold on to my calls for 2-3 days as it should take 2-3 days of rally (maybe more).

I'm waiting for that 156.8 price confirmation, don't wanna lose money bottom fishing a dangerous area..

I am tracking the C wave to the upside on an ABC correction. I do not believe it is ready to reach the stratosphere yet. I will look at GLD for long term after SPX climbs above 1580.

I take that back. From Oct to Feb 20th, I can see an ABC correction so they may be the impulse to the upside. Regardless, my timeframe is very short for this wave up just to let folks know. I have very short term calls open - 22nd and 28th march.

Thx

[Cobra]

Futures sharply down, usually it at least has a 2nd leg down.

[TradingJackal]

GLD may be hiding a Wolfe. Looks good for 61.8 retrace move to the upside.

[Xian]

I think I need to be all done with Twitter for a while. Apparently every single person there was short on Friday's close.

[Cobra]

Fib info and blue line the next support.

[Out of Bounds]

Will Cyprus be the butterfly of Chaos Theory for European economies?

If we look at the facts it's unlikely: Cyprus has less inhabitants than the Bronx, 1.2 million versus 1.4 million, but per capita income is nearly 30'000 $ versus 17'000 in the Bronx and 32'000 in NY.

But if we consider the crazy idea of confiscating private money - hey, that's destablilization par excellence. I can hardly believe that politicians outside of North Korea or Zimbabwe can conceive something like that.

+1 homeslice.

However, not a ton of press on Germany. Why not? They're the ones here, "Take private money from depositors or default, bitches."
It ain't like this was an idea that originated w/ Cyprus.

So, when you say, "I can hardly believe that politicians outside of North Korea or Zimbabwe can conceive something like that." Germans can. Germans can conceive of stuff like that. That's right in their wheelhouse.

Wha? Germany effing over Europe? That *hardly* ever happens.

Congrats to the shorts. Wish I was there.

"The Hun," said Winston Churchill, "is always either at your throat or at your feet."
He was right. I know, I'm married to a German woman.

[Xian]

Will Cyprus be the butterfly of Chaos Theory for European economies?

If we look at the facts it's unlikely: Cyprus has less inhabitants than the Bronx, 1.2 million versus 1.4 million, but per capita income is nearly 30'000 $ versus 17'000 in the Bronx and 32'000 in NY.

But if we consider the crazy idea of confiscating private money - hey, that's destablilization par excellence. I can hardly believe that politicians outside of North Korea or Zimbabwe can conceive something like that.

+1 homeslice.

However, not a ton of press on Germany. Why not? They're the ones here, "Take private money from depositors or default, bitches."
It ain't like this was an idea that originated w/ Cyprus.

So, when you say, "I can hardly believe that politicians outside of North Korea or Zimbabwe can conceive something like that." Germans can. Germans can conceive of stuff like that. That's right in their wheelhouse.

Wha? Germany effing over Europe? That *hardly* ever happens.

Congrats to the shorts. Wish I was there.

"The Hun," said Winston Churchill, "is always either at your throat or at your feet."
He was right. I know, I'm married to a German woman.

Oh man, that's a divorce worthy post right there.

your secret's safe with us....

[Xian]

A good friend on this board just reminded me of my long forgotten, sure-fire market beating system.

It's highly personalized, but never fails me:

http://www.youtube.com/watch?v=cKUvKE3bQlY