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Post by abdogman on Sept 20, 2010 13:23:19 GMT -5
macd pos on 1m xlf fas last 8 mins or so xlf 14.795 on 1m
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Post by abdogman on Sept 20, 2010 13:33:44 GMT -5
xlf 14.81 on 1m
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Post by abdogman on Sept 20, 2010 13:45:02 GMT -5
BB's narrowing on 1m xlf fas faz macd neg on 1m xlf fas xlf 14.81
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Post by natsalilfly on Sept 20, 2010 13:54:53 GMT -5
Rode TNA from 42.44 to 45.03, I think there could be more there but off we go to ortho appt for daughter. Leaving well enough alone!
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Post by abdogman on Sept 20, 2010 13:56:38 GMT -5
macd pos now on 1m xlf fas BB's spreading slowly on 1m xlf fas faz xlf 14.84 on 1m
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Post by crumbdon on Sept 20, 2010 13:57:47 GMT -5
Rode TNA from 42.44 to 45.03, I think there could be more there but off we go to ortho appt for daughter. Leaving well enough alone! You are a savvy trader, fly- that is why you will continue to live to trade another day. I am battling my inner greed monster today. Must go smite him into submission and find my sell point.
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Post by ask2lern on Sept 20, 2010 13:58:37 GMT -5
Looks like the 114.10 SPY 61.8 Fib hit and some buy stops got hit...............chug chug chug................GL
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Post by natsalilfly on Sept 20, 2010 14:02:03 GMT -5
Rode TNA from 42.44 to 45.03, I think there could be more there but off we go to ortho appt for daughter. Leaving well enough alone! You are a savvy trader, fly- that is why you will continue to live to trade another day. I am battling my inner greed monster today. Must go smite him into submission and find my sell point. thanks - parts of me have died on other trading days but today I live - that last pop got sold quick, now buyers coming back again - lotsa indecision at this level
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Post by ccash04 on Sept 20, 2010 14:08:26 GMT -5
Divergence for stocks and bonds continues probably in anticipation of QE 2/FOMC mins. One will fall one will rise tomorrow. Or maybe they are just going to be correlated now instead of inversely correlated.. I have no idea.
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Post by abdogman on Sept 20, 2010 14:09:50 GMT -5
macd neg last 5 mins on 1m xlf fas xlf 14.8492 on 1m
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Post by brosin on Sept 20, 2010 14:12:17 GMT -5
Divergence for stocks and bonds continues probably in anticipation of QE 2/FOMC mins. One will fall one will rise tomorrow. Or maybe they are just going to be correlated now instead of inversely correlated.. I have no idea. The Fed has no reason to even consider QE2 (I don't think they will ever do that) at this meeting with the market moving higher. They will hold that bullet around in case they need it to provide support.
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Post by ask2lern on Sept 20, 2010 14:13:15 GMT -5
Divergence for stocks and bonds continues probably in anticipation of QE 2/FOMC mins. One will fall one will rise tomorrow. Or maybe they are just going to be correlated now instead of inversely correlated.. I have no idea. The Fed has no reason to even consider QE2 (I don't think they will ever do that) at this meeting with the market moving higher. They will hold that bullet around in case they need it to provide support. I think the mkt is expecting favorable statments for QE2.............IMO
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Post by ask2lern on Sept 20, 2010 14:13:42 GMT -5
UK lateset twit..............................GL
ukarlewitz $NYSE volume breadth continues to expand, now 14:1 advancing. Very few ticks over +1000 has allowed the indices to grind higher $SPY
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Post by abdogman on Sept 20, 2010 14:14:07 GMT -5
BB's narrowing on 1m xlf fas faz xlf 14.855 on 1m
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Post by brosin on Sept 20, 2010 14:15:54 GMT -5
The Fed has no reason to even consider QE2 (I don't think they will ever do that) at this meeting with the market moving higher. They will hold that bullet around in case they need it to provide support. I think the mkt is expecting favorable statments for QE2.............IMO Do the 3 of us agree that QE1 / QE in general is a terrible idea and quite detrimental to the LT fiscal state of the Union?
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Post by brosin on Sept 20, 2010 14:16:19 GMT -5
(3 of us including Ccash of course)
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Post by ask2lern on Sept 20, 2010 14:18:05 GMT -5
(3 of us including Ccash of course) YES
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Post by abdogman on Sept 20, 2010 14:20:31 GMT -5
BB's spreading slowly on 1m xlf fas faz macd pos last 4 mins on 1m xlf fas xlf 14.87 on 1m
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Post by brosin on Sept 20, 2010 14:21:30 GMT -5
Ok good. I would use similar font and emphasis It seems fairly obvious to me that monetizing the debt is very dangerous. If that is true and the Fed believes it as well (I HOPE they do), I don't really see the point in even giving the market the sense that they will be expanding off QE1. Especially not with the market doing well. Should the market have dropped to 900 spx for this meeting, I could see it. Not up here at 1140 though. I would be surprised. Wouldn't be the first or last time though!
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Post by ukarlewitz on Sept 20, 2010 14:24:23 GMT -5
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Post by ask2lern on Sept 20, 2010 14:28:23 GMT -5
I sure hope they have battery back ups on those bots.............just imagine a power outage..............LOL
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Post by ask2lern on Sept 20, 2010 14:29:26 GMT -5
Always nice to see you UK............
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Post by brosin on Sept 20, 2010 14:30:44 GMT -5
Up market has everyone a bit complacent on the macro side, perhaps. Shoot me since I think we need more QE. End demand is very weak. End demand does still *appear* weak, but I think it will be forced into action at some point. I also think it has alot to do with the banks not making loans to even those with very good credit. Perhaps demand is distorted by that from the supply side? Also, we don't want the govt to continue being the main source of demand. Crowding out is become a real problem and will become worse if we don't get private demand to pick up more than public demand.
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Post by ukarlewitz on Sept 20, 2010 14:31:31 GMT -5
I hope I'm not the thread killer. Remember the discussion about Nysi (charts and chat) and the importance of the rise off the higher low? Updated chart with comments: stock.ly/content/details/3613
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Post by ccash04 on Sept 20, 2010 14:35:28 GMT -5
Agreed, that monetizing debt is bad.. well not for gold Still I tend to think that this rise has been predicated on a QE2 and if it gets shot down I think market reacts not so pleasantly. Unfortunately, QE2 would probably put a nice bid under treasuries and having such a low yielding bond market is hardly indicative of a healthy economy.. Don't really know what to expect so I am taking a backseat and just going to evaluate and position tomorrow.
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Post by abdogman on Sept 20, 2010 14:36:58 GMT -5
BB's spreading on 1m xlf fas faz macd pos last 2 mins on 1m xlf fas xlf 14.885 on 1m
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Post by ccash04 on Sept 20, 2010 14:37:22 GMT -5
it would be nice to see consolidation but with this market recently, there is no such thing it just dives headlong one way or the other.. great for swing trading if you are going the correct direction.
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Post by ukarlewitz on Sept 20, 2010 14:38:55 GMT -5
I don't think anyone wants the gov't to be the main source of demand. Ideally, it would be zero. But here we are, private demand is weak. Banks are not lending mostly because there is a 30% output gap; there is not a big working capital need at the moment. What to do - take the tough medicine and let the market work it out, or help the market find it's feet near term? The economic evidence is clearly in the latter camp from a historical perspective. You risk one helluva vicious cycle to the downside under the former scenario. When the output gap has been reduced, I am 100% for reducing debt, something that should have happened during the boom years of the 2000s. for that matter, make it mandatory that revenue cuts be accompanied by spending cuts. Mostly, be brave and innovative enough to embrace fundamental changes to programs that will make them more efficient than they are today. Let's get out of this mess first.
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Post by abdogman on Sept 20, 2010 14:40:38 GMT -5
xlf 14.90 on 1m
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Post by ukarlewitz on Sept 20, 2010 14:41:55 GMT -5
By the way, I always enjoy this thread. You're a wonderful group. It's a great home base.
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