07/06/2012 Live Update

[Cobra]

by the way, if QE can solve the problem, Japan would be the richest country in the world now. Look how many rounds of QE they had and look at their index. Enough said.

This is like you don't want to spend any money, but banks keep sending you mail, telling you that they can lend you lots of money. Knowing you can have lots of money is one thing but whether you have the will to spend the money is another thing.

[SWalsh]

TRENDLINES: For the 2000 PhD working these HFTs and Algos, they sure seem to get together at the best trade to date - TRENDLINES. And the McClellan didn't hurt:

[Petsamo]

WLT getting slammed big time

[TraderJoe]

Every day I read more and more BAD stuff about JPM. I just buy more and more 35 puts. Yesterday I read; The U.S. Federal Energy Regulatory Commission sued JPMorgan on July 2 in an investigation of possible manipulation of power markets in California and the Midwest by J.P. Morgan Ventures Energy Corp.

It's great, maybe the 'man' will be forced to step down???

[noob]

double top target, by the way. I consider it fulfilled because target is an art not science, roughly it enough.

Cobra, so you don't think today will be 20+ spx drop? I think we'd find support around spx 1340 area...

I don't know. every of my calls must be backed by either signals or chart pattern, right now, I see neither, so will have to wait.

Cool thanks, vix is still too low.

[SigmaEcho]

by the way, if QE can solve the problem, Japan would be the richest country in the world now. Look how many rounds of QE they had and look at their index. Enough said.

This is like you don't want to spend any money, but banks keep sending you mail, telling you that they can lend you lots of money. Knowing you can have lots of money is one thing but whether you have the will to spend the money is another thing.

only need to get re-elected...

[Cobra]

open range, let's wait for the breakout. I have no idea in which direction.

[OverUnder]

Canada PMI 49 vs. exp 57.5, ouch.

M16912_lg1.jpg (46.42 KiB) Viewed 9559 times

[Cobra]

by the way, if QE can solve the problem, Japan would be the richest country in the world now. Look how many rounds of QE they had and look at their index. Enough said.

This is like you don't want to spend any money, but banks keep sending you mail, telling you that they can lend you lots of money. Knowing you can have lots of money is one thing but whether you have the will to spend the money is another thing.

only need to get re-elected...

That's exactly the reason I don't believe we'll have QE because QE here would be considered as buying the votes. Fed would try it best to avoid being involved.

[ballatines]

double top target, by the way. I consider it fulfilled because target is an art not science, roughly it enough.

Cobra, so you don't think today will be 20+ spx drop? I think we'd find support around spx 1340 area...

I don't know. every of my calls must be backed by either signals or chart pattern, right now, I see neither, so will have to wait.

Cool thanks, vix is still too low.

VIX just up a little ..... bullish or what ...? i dun understand

[heavenskrow]

Bought TVIX yesterday. Mini Evil support and ES resistance ftw

[OverUnder]

To the tune of Kumbaya:

Can't be argued with
Kumbaya
Can't be argued with
Kumbaya
Can't be argued with
Kumbaya
Oh, NYMO, Kumbaya.

[SWalsh]

by the way, if QE can solve the problem, Japan would be the richest country in the world now. Look how many rounds of QE they had and look at their index. Enough said.

For those without some economics background (like Bernanke as his is for shit) you can't grow GDP by printing money. Japan is 30 years of showing "the more you ad, the slower it moves", and you can only increase jobs by GDP growth.

We are well into The Liquidity Trap. All we have is a government allowing quants to Institutionally Rape the middle class. Else we'd never be over 1000 SPX.

Hussman, Oct 2010. "Bernanke Falls Into The Liquidity Trap" http://hussman.net/wmc/wmc101025.htm

So why does the market go up when they add QExx ? Because it is no different that the Fed Window being wide open in 1929. In June 2011 the Fed put $76 Billion into the banks. We had a run of 90 SPX points, and a collapse:

[EFA]

by the way, if QE can solve the problem, Japan would be the richest country in the world now. Look how many rounds of QE they had and look at their index. Enough said.

This is like you don't want to spend any money, but banks keep sending you mail, telling you that they can lend you lots of money. Knowing you can have lots of money is one thing but whether you have the will to spend the money is another thing.

only need to get re-elected...

That's exactly the reason I don't believe we'll have QE because QE here would be considered as buying the votes. Fed would try it best to avoid being involved.

Cobra,
I believe that you are correct, as usual!

[noob]

double top target, by the way. I consider it fulfilled because target is an art not science, roughly it enough.

Cobra, so you don't think today will be 20+ spx drop? I think we'd find support around spx 1340 area...

I don't know. every of my calls must be backed by either signals or chart pattern, right now, I see neither, so will have to wait.

Cool thanks, vix is still too low.

VIX just up a little ..... bullish or what ...? i dun understand

Me either, normally would be up a lot more for 15 pts spx drop...

[Petsamo]

Every day I read more and more BAD stuff about JPM. I just buy more and more 35 puts. Yesterday I read; The U.S. Federal Energy Regulatory Commission sued JPMorgan on July 2 in an investigation of possible manipulation of power markets in California and the Midwest by J.P. Morgan Ventures Energy Corp.

It's great, maybe the 'man' will be forced to step down???

JPM is very oversold relative to the ETF that carries it, KBE (the other bank ETF). Make sure you are not trading on emotion.



Break

Anyone have news on WLT ? I'm thinking of buying this dip.

[OverUnder]

Euro approaching yearly low 1.28, might be bad or might be bounce.

[attachment=0]eur.JPG[/attachment

[TradingJackal]

Done for the day?

[heavenskrow]

Euro approaching yearly low 1.28, might be bad or might be bounce.

[attachment=0]eur.JPG[/attachment

euro is under support from a trendline from 2000..... thats telling you something.

[Hardy]

Bought yesterday puts on GOOG and AAPL showing some hefty profit and just cashed in.