09/17/2012 Live Update

[Cobra]

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Flat open, so any gap will be filled.

I don't see anything special on Global ES. Usually there's a least another push up to test the previous high...

[Cobra]

Weekly stock picks, we have a new forum for this: viewforum.php?f=10

[Cobra]

Nothing to say on DAX. Two Doji might see pullback somewhere which would be bought anyway.

[L_T]

Weekly stock picks, we have a new forum for this: viewforum.php?f=10

I have already been reviewing these. Thanks for keeping up with this new feature.

[joe-gamma]

Good morning and thanks for great reading this weekend!
s/t midcaps futures have momentum southbound, here is 4hr bars, GL

mid917.png (9.36 KiB) Viewed 5592 times

[joe-gamma]

es10hr917.png (9.88 KiB) Viewed 5563 times

L/T 10hr es futurs not turn yet, look for chop this week?

[joe-gamma]

nasdapplefutrs 100 this week, waiting for 6hr bar momentum to turn south, GL
and thanks for all the input on this board!

naz10hr917.png (10.15 KiB) Viewed 5490 times

[uempel]

I'm trying to find out where the market is heading. I'm quite sure that 1490ish is a good temporary top.

As to the timing: I thought that next Friday's Triple Witch might be a good tempoary top, but I didn't find anything on the 60 min . Signals point to tomorrow Tuesday noon, Wednesday 2:00 pm and Tuesday 25th at the opening

[TradersF]

Good morning people!

My two cents; Small gag down, gap fill, chop all day with a last hour buy session.

I'm still long TNA @ 66,33

[Cobra]

the open. 2 possibilities: we from now on up everyday, no pullback at all until QEn ends. or boring everyday ever since until everyone quits trading.

[Al_Dente]

SPAIN bonds YIELDs are in the news again this morn
(recall last month the “experts” believed that below 7% was the “all clear” where Spain can sustain her debt load…)
http://www.bloomberg.com/quote/GSPG10YR:IND

Also, India buying
http://www.bloomberg.com/news/2012-09-1 ... forms.html

[Cobra]

SPAIN bonds YIELDs are in the news again this morn
(recall last month the “experts” believed that below 7% was the “all clear” where Spain can sustain her debt load…)
http://www.bloomberg.com/quote/GSPG10YR:IND

Also, India buying
http://www.bloomberg.com/news/2012-09-1 ... forms.html

Spain yield 6%, not bad.

[Al_Dente]

SPAIN bonds YIELDs are in the news again this morn
(recall last month the “experts” believed that below 7% was the “all clear” where Spain can sustain her debt load…)
http://www.bloomberg.com/quote/GSPG10YR:IND

Spain yield 6%, not bad.

Right Chief, everyone’s buying spain bonds again………everything’s fine……..go figure…….(oy)

[Cobra]

Friday low as support, wait.

[Cobra]

for now, the chart pattern looks like a Bull Flag.

[uempel]

Checking signals on the 5 min. So far it looks as though tomorrow Tuesday will be more interesting than today

[Al_Dente]

CHINA
Thanks to someone who posted YINN and YANG over weekend
YINN then YANG already jumped to the top of my watch list this morn
BEWARE: freestockcharts (BATS feed) quote is delayed on both
Plus NO volume

[Cobra]

very boring day, are we going to be like this forever? I have reason to believe this.

[daytradingES]

Gm everyone!
-----lot's of work this morning to roll-over my charts and my signals are all messed up with the change. looking like a narrow range choppy day, so far. ----------
----------
Here's a funny email from Larry Levin:
Since the announcement of the Fed’s open-ended quantitative easing (QE3+), which truly is to infinity, many questions have been asked. Below is an amusing but rather true set of questions and answers.



Q: Why did Federal Reserve Chairman Ben Bernanke launch a third round of bond buying known as quantitative easing, or QE3, last week?


A: Because the stock market told him to. How else can he keep the Dow Jones Industrial Average above 13000? Companies are warning of slower earnings growth.


Q: How big is QE3?


A: $40 billion a month—indefinitely. This is on top of the $45 billion a month the Fed is already spending on another program called "Operation Twist" through the rest of this year.


Q: Phew, is that all?


A: Hardly. Since 2008, the Fed has dumped more than $2.3 trillion into the economy, artificially levitating the values of stocks and real estate against the ravages of an economic reckoning.


Q: What will the Fed buy with this QE3 money?




A: Mortgage-backed securities. It is betting that the way to fix a deflated housing bubble is to blow another one.

Q: Does the Fed really just print all this money?


A: No. That would take eons. The Fed simply adds zeros to its magic spreadsheet, and violà, money!


Q: Isn't this a Ponzi scheme?


A: Of course not. A Ponzi scheme is illegal. This is a Bernanke scheme.


Q: Is it working?


A: Every new QE is an admission that the last one didn't work. Since the first QE in late 2008, America's economic growth has mostly been described as "anemic."


Q: So why will QE3 last indefinitely?


A: It spares Mr. Bernanke the humility of announcing QE4, QE5, QE6 ….


Q: Will this finally lower unemployment?


A: You tell me. The Fed has launched QEs and held interest rates close to zero for nearly four years. The unemployment rate has remained above 8%.


Q: So why call it a "recovery"?


A: It's not as depressing as the term depression. A depression can be defined as a prolonged period of high unemployment.


Q: Why not just call it that?


A: Another theory holds that a depression is impossible as long as Mr. Bernanke can keep creating money.


Q: Won't this cause inflation?


A: Only if you eat food, burn gasoline, require medical attention, purchase commodities or pay college tuition. Bottled water is $1.29, and air is still free.


Q: Why haven't QEs worked?


A: It's a global economy and QEs simply leak out of the bucket. Companies, for instance, may use the cheap money to expand abroad. And consumers may use it to buy more Chinese goods.


Q: So why do it?


A: The money flows into banks to strengthen their balance sheets. Corporations use it to lower borrowing costs and launch stock-repurchase programs. The ensuing boost in corporate performance helps executives collect "performance pay."


Q: Won't the Fed eventually have to sell the trillions in bonds it is buying? How will it be able to find enough buyers?


A: Don't ask. Nobody knows.


Q: How do QEs contribute to our national debt?


A: The Fed's purchases of U.S. Treasurys lower the interest rate our government pays to issue them. This can only encourage more borrowing. Since 2008, our national debt has risen more than 60% to more than $16 trillion.


Q: Isn't that astronomical?


A: Yes. But we can now measure the national debt in lightyears. A lightyear equals nearly six trillion miles. At $1 a mile, our national debt is only 2.6 lightyears.


Q: Why lightyears?


A: Because our economic woes are indefinite, and that's why QE3 is indefinite. Mr. Bernanke should change his name to Buzz Lightyear: "To infinity and beyond!"


—Al Lewis is a columnist for Dow Jones Newswires in Denver. He blogs at tellittoal.com

[KeiZai]

GM boardies

Channel in channel?

Russell