06/11/2012 Live Update

[TraderGirl]

So, if Greece should exit from the Euro, the Euro's would be exchanged for Drachma's, then the Greek govt would print more money possibly sending the value of the Drachma down 50%...

So, if you are in Greece, one minute you have a bank account worth 10,000 Euro's, the next minute you are exchanged into Drachma's, but the value of those Drachma's would go down to $5,000...???

Wow, they are f-d!!

[BullBear52x]

From UP/DN volume ratio stand point, no new high from today til tomorrow morning bulls are in trouble. continue weakness from this point tomorrow will confirm short term sell.

[CognitiveDissonance]

So, if Greece should exit from the Euro, the Euro's would be exchanged for Drachma's, then the Greek govt would print more money possibly sending the value of the Drachma down 50%...

So, if you are in Greece, one minute you have a bank account worth 10,000 Euro's, the next minute you are exchanged into Drachma's, but the value of those Drachma's would go down to $5,000...???

Wow, they are f-d!!

I guess that's why they're starting this
http://www.zerohedge.com/news/europe-br ... ls-bazooka

On another note, it would be nice for those holding short if the VIX closed above the 23.6% fib line.

[fehro]

careful...trendline break?

[SWalsh]

It is somewhat unsettling that I see these times thru the same glasses you are looking thru. Pretty much why I don't post much....you got it covered.

I do enjoy Cobra's posts and this is an outstanding board.
Happy, fun and profitable trading to all!

It's called eating from the Tree of Knowledge.

I think it was 1994 when I read in The Atlantic Monthly, "Must it be the Rest Against the West" (available online) and then read the short book written in the 60s entitled, "The Camp of the Saints", and realized how badly this all ends due to population and resources. There was talk like this by Malthusians but then America was discovered by the Europeans (which delayed what we are seeing) and no longer did the King own all the land where no education could elevate you to anything worthwhile in Europe as only lineage did so. You cannot rape nations ("Confessions of an Economic Hitman") and not expect blow-back. For me, that book on what we have done was not an easy read. I had no idea of just how corrupt we were that stealing the fruits of others was a sanctioned game plan.

if you have not read Solzhenitsyn's address to Harvard in 1978 http://www.columbia.edu/cu/augustine/ar ... d1978.html pay particular attention to his comments about how we use our legal system to define morality. He told us we were going to decline given our path. Right now, this High fascism Trading is technically "legal", and therefore there is nothing immoral about jumping ahead of orders and prohibiting the competition from entering when they can as it's not objected to by the SEC.

I really grew-up thinking we were better than all of this.

[SWalsh]

So, if Greece should exit from the Euro, the Euro's would be exchanged for Drachma's, then the Greek govt would print more money possibly sending the value of the Drachma down 50%...

So, if you are in Greece, one minute you have a bank account worth 10,000 Euro's, the next minute you are exchanged into Drachma's, but the value of those Drachma's would go down to $5,000...???

Wow, they are f-d!!

The Nazis starved 250,000 Greeks to death in WW II. I suspect they will pay them back with worthless trinkets.

A friend of mine goes to Germany on business 3-4 times a year. He has assured me that if you go to older Germans in bars and drink with them you will find that they really hate America. I suspect the Greeks feel just as strong about it.

[TraderGirl]

spx...

[TraderGirl]

So, if Greece should exit from the Euro, the Euro's would be exchanged for Drachma's, then the Greek govt would print more money possibly sending the value of the Drachma down 50%...

So, if you are in Greece, one minute you have a bank account worth 10,000 Euro's, the next minute you are exchanged into Drachma's, but the value of those Drachma's would go down to $5,000...???

Wow, they are f-d!!

The Nazis starved 250,000 Greeks to death in WW II. I suspect they will pay them back with worthless trinkets.

A friend of mine goes to Germany on business 3-4 times a year. He has assured me that if you go to older Germans in bars and drink with them you will find that they really hate America. I suspect the Greeks feel just as strong about it.

I think everyone hates the Americans, except the Italians....

[CognitiveDissonance]

It is somewhat unsettling that I see these times thru the same glasses you are looking thru. Pretty much why I don't post much....you got it covered.

I do enjoy Cobra's posts and this is an outstanding board.
Happy, fun and profitable trading to all!

It's called eating from the Tree of Knowledge.

I think it was 1994 when I read in The Atlantic Monthly, "Must it be the Rest Against the West" (available online) and then read the short book written in the 60s entitled, "The Camp of the Saints", and realized how badly this all ends due to population and resources. There was talk like this by Malthusians but then America was discovered by the Europeans (which delayed what we are seeing) and no longer did the King own all the land where no education could elevate you to anything worthwhile in Europe as only lineage did so. You cannot rape nations ("Confessions of an Economic Hitman") and not expect blow-back. For me, that book on what we have done was not an easy read. I had no idea of just how corrupt we were that stealing the fruits of others was a sanctioned game plan.

if you have not read Solzhenitsyn's address to Harvard in 1978 http://www.columbia.edu/cu/augustine/ar ... d1978.html pay particular attention to his comments about how we use our legal system to define morality. He told us we were going to decline given our path. Right now, this High fascism Trading is technically "legal", and therefore there is nothing immoral about jumping ahead of orders and prohibiting the competition from entering when they can as it's not objected to by the SEC.

I really grew-up thinking we were better than all of this.

I grew up in Eastern Europe knowing we were this bad, then I had my second childhood in the US thinking that I must have been wrong and was too pessimistic on the human condition. Now I know not to second guess myself.

[TraderGirl]

So, if Greece should exit from the Euro, the Euro's would be exchanged for Drachma's, then the Greek govt would print more money possibly sending the value of the Drachma down 50%...

So, if you are in Greece, one minute you have a bank account worth 10,000 Euro's, the next minute you are exchanged into Drachma's, but the value of those Drachma's would go down to $5,000...???

Wow, they are f-d!!

I guess that's why they're starting this
http://www.zerohedge.com/news/europe-br ... ls-bazooka

On another note, it would be nice for those holding short if the VIX closed above the 23.6% fib line.

I think whatever happens with the Greek vote, the market will not like it....

[nambip]

Cobra,

For the double top seen at SPY 133.2 , I assume the measured move down side is 132.0 ?

[CognitiveDissonance]

Now we're talking. /CL, EUR/USD, AUD/JPY dropping nicely.

[KeiZai]

Natural gas trade, I think we are close to bottom forming, maybe after H&S we will see some kind of double bottom

[TraderGirl]

XIV most likely is saying... pause here, then more down....

[Cobra]

so far goes as planed. here's 100% MM target.

[soku]

/es cloud on fib fan



add: same chart shot on thursday. it is /es hourly

[TraderGirl]

SPX looks like it's pausing at 23% fib.....

[KeiZai]

Copper so far go as planned

[TraderGirl]

Copper so far go as planned

Nice Chart!

[MrMiyagi]

Lower then it is...??