PPDT - PP-XLF = 15.09 - 5/19 Wednesday

[ukarlewitz]

The Wednesday thread. Have at it.

[ccash04]

Futures are taking a bath but heres a few things I looked at...

Watching to see if it breaks 32




Looks like its hugging that lower BB




Maybe a bounce soon?? Lets be honest probably not




Setting up for a great short esp. if the market is going south.

[kryptos2009]

Good Morning Gang!!
Here is the PP Daily Thread (PPDT) data.


XLF PP=15.09
MP=15.24 R1=15.38 MP=15.61 R2=15.83 MP=16.20 R3=16.57 MP=16.94 R4=17.31
MP=14.87 S1=14.64 MP=14.50 S2=14.35 MP=13.98 S3=13.61 MP=13.24 S4=12.87
O=15.54 H=15.55 L=14.81 C=14.92

FAS PP=26.48
MP=27.22 R1=27.95 MP=29.16 R2=30.37 MP=32.31 R3=34.26 MP=36.20 R4=38.15
MP=25.27 S1=24.06 MP=23.33 S2=22.59 MP=20.64 S3=18.70 MP=16.75 S4=14.81
O=28.87 H=28.89 L=25 C=25.54

FAZ PP=14.52
MP=15.12 R1=15.72 MP=16.09 R2=16.46 MP=17.43 R3=18.40 MP=19.37 R4=20.34
MP=14.15 S1=13.78 MP=13.18 S2=12.58 MP=11.61 S3=10.64 MP=9.67 S4=8.70
O=13.32 H=15.25 L=13.31 C=14.99

SPY PP=113.22
MP=113.81 R1=114.40 MP=115.41 R2=116.41 MP=118.00 R3=119.60 MP=121.19 R4=122.79
MP=112.22 S1=111.21 MP=110.62 S2=110.03 MP=108.43 S3=106.84 MP=105.24 S4=103.65
O=114.88 H=115.22 L=112.03 C=112.4

SPG PP=85.41
MP=86.25 R1=87.09 MP=88.56 R2=90.02 MP=92.32 R3=94.63 MP=96.93 R4=99.24
MP=83.95 S1=82.48 MP=81.64 S2=80.80 MP=78.49 S3=76.19 MP=73.88 S4=71.58
O=87.81 H=88.33 L=83.72 C=84.17

GS PP=139.24
MP=140.56 R1=141.87 MP=144.13 R2=146.39 MP=149.96 R3=153.54 MP=157.11 R4=160.69
MP=136.98 S1=134.72 MP=133.41 S2=132.09 MP=128.51 S3=124.94 MP=121.36 S4=117.79
O=143.69 H=143.75 L=136.6 C=137.36

JPM PP=39.40
MP=39.82 R1=40.24 MP=40.86 R2=41.47 MP=42.50 R3=43.54 MP=44.57 R4=45.61
MP=38.79 S1=38.17 MP=37.75 S2=37.33 MP=36.29 S3=35.26 MP=34.22 S4=33.19
O=40.62 H=40.62 L=38.55 C=39.02

MS PP=26.88
MP=27.09 R1=27.29 MP=27.58 R2=27.86 MP=28.35 R3=28.84 MP=29.33 R4=29.82
MP=26.60 S1=26.31 MP=26.11 S2=25.90 MP=25.41 S3=24.92 MP=24.43 S4=23.94
O=27.44 H=27.44 L=26.46 C=26.73

C PP=3.80
MP=3.85 R1=3.89 MP=3.97 R2=4.05 MP=4.18 R3=4.30 MP=4.43 R4=4.55
MP=3.72 S1=3.64 MP=3.60 S2=3.55 MP=3.43 S3=3.30 MP=3.18 S4=3.05
O=3.95 H=3.96 L=3.71 C=3.73

VIX PP=31.94
MP=33.86 R1=35.78 MP=36.90 R2=38.02 MP=41.06 R3=44.10 MP=47.14 R4=50.18
MP=30.82 S1=29.70 MP=27.78 S2=25.86 MP=22.82 S3=19.78 MP=16.74 S4=13.70
O=28.67 H=34.17 L=28.09 C=33.55

UUP PP=25.37
MP=25.50 R1=25.63 MP=25.72 R2=25.80 MP=26.02 R3=26.23 MP=26.45 R4=26.66
MP=25.29 S1=25.20 MP=25.07 S2=24.94 MP=24.73 S3=24.51 MP=24.30 S4=24.08
O=25.12 H=25.54 L=25.11 C=25.46

FROM: www.econoday.com

Economic Events & Analysis - 5/19/2010 Wednesday


7:00 AM ET MBA Purchase Applications


8:30 AM ET Consumer Price Index

Released on 5/19/2010 8:30:00 AM For Apr, 2010
Prior Consensus Consensus Range
CPI - M/M change 0.1 % 0.0 % -0.1 % to 0.2 %
CPI less food & energy 0.0 % 0.1 % 0.0 % to 0.1 %

Market Consensus Before Announcement
The consumer price index for March nudged up to 0.1 percent from no change the prior month. Core CPI inflation, however, eased to no change from up 0.1 percent in March. At the headline level, food prices rose moderately while energy costs were flat. The core was held down in part by declines in apparel and recreation and flat housing costs. Food prices are likely to soften a bit as fruits and vegetables have started to come from regions outside of Florida which was impacted by a heavy freeze. Also, seasonally adjusted oil prices leveled off in April and shelter costs are likely to remain sluggish.


10:30 AM ET EIA Petroleum Status Report
2:00 PM ET FOMC Minutes


NOTE:
The previous days OHLC data for todays PPDT was gathered from finance.yahoo.com for each individual stock by a series of webquerys built into a spreadsheet.
The formulas used by the www.mypivots.com website to create the Pivot Points were found in the sites help files.
The formulas were built into the spreadsheet which acts on the previous days OHLC data gathered from Yahoo.
The Pivot Points were created using the formulas from www.mypivots.com but NOT by using the site.
Please let me know if you find any errors in the data.
Use of this data is at your own risk.

[lookingherethere]

We are down till the first week of June... We might bounce but June is when the Bull runs again. It is the cycle.

[ukarlewitz]

Crash chatter might be getting a little out of hand:
- CNBC poll yesterday: 40% of respondents predicted a 50% haircut for the Dow. Seriously, almost half the respondents predicted Dow 5000 by the end of this year.
- Raoul Pal, who writes Global Macro Investor newsletter, and whose bio cites stints at GLD and Goldman Sachs, is out with a very specific crash call. In his latest note he calls for a crash in just two days to two weeks. www.businessinsider.com/global-macros-raoul-pal-heres-why-a-crash-is-coming-in-two-days-to-two-weeks-2010-5
- Don't forget Jeremy Grantham and Richard Russell's crash calls this week.

[ukarlewitz]

Alphatrends: 'going to continue lower'; he thinks we go the 200dma at 110 and then bounce.

Cobra - is both bearish (Spy going to 100) and bullish (going to 117.3). He has reasons for both. But markets are seriously oversold, he says.

IT - having spent all of March and April fighting the bull they are now intent on fighting the bear too. Long FXE and USO; will enter GS at 135-36 (the 7/09 low) and like Aks with it's d/b and gearing to a fall in UUP; like XOM at 61.8 (3/09 low). At the heart of their call is that the UUP has gone parabolic, and this is unsustainable.

Oscar - bear; 'After a great deal of technical analysis we have concluded that the market is in a weakened state here. In fact, it looks like its about to FALL OFF A CLIFF.' He has already shorted 1118 and is covering half at 1110. He does not think we are into a bear market; 'it's a pull back.'

Spy and Xlf both had bearish 20/50dma crosses today. This is a good sell signal but note that the last two crosses in the past years marked market bottoms. Other not too distant 20/50 crosses include all of these: Bac, Jpm, Eem, Oih, V, Jnk, Jnj, Ms, Xom, Xal, Ewj, Rsx, Fxi, Ewz, Slx and Jjc.



Spot the parabola:



Uploaded with ImageShack.us

[ukarlewitz]

Nymo is sending you a message:

[Mikey]

Unloaded my SNDK and CREE shorts at $40.45 and $71.75 in pre-market and loaded up on SLV at my $18.1 buy point which was gapfill and 20dma. I'm the most bullish I've been in awhile. Might unload my FAZ near the open and buy some mining stocks, they've been beat up the past few days and many have come down to rising 20dma's.

[Mikey]

Long ABK $1.04

What the hell

finviz.com/quote.ashx?t=abk

[ukarlewitz]

Carl - Contrary to my expectation Monday's low at 1113 was broken by 8 points in Asian trading last night. My range estimate for today is 1100-25. I still think that last week's low at 1056 ended the correction from 1216. Strength above 1120 would be very bullish.


Looks like the DX is finally taking a break. TNX just turned green. Everyone with two cups of coffee in them is thinking bull trap.

[abdogman]

Good Morning Gang...Thx for all the work .....Good Luck to All

[lookingherethere]

Inflation is hardly a problem for the Fed. In April, overall CPI inflation dipped 0.1 percent after edging up to 0.1 percent the month before. Analysts had projected a flat headline number. Core CPI inflation was flat for two months in a row, compared to the median forecast for a 0.1 percent uptick. At the headline level, a drop in energy prices weighed on costs while food was still moderately strong. The core was kept low by extremely soft shelter costs along with a decline in apparel.

Looking at detail, the energy component fell 1.4 percent, following no change in March. Gasoline dropped 2.4 percent after a 0.8 percent dip the month before. Food inflation rose 0.2 percent in both of the two most recent months.

[clearwaters]

May 19, 2010 7:57:50 GMT -5 Mikey said:

Long ABK $1.04

What the hell

finviz.com/quote.ashx?t=abk

It does look tempting, but...

online.wsj.com/article/SB10001424052748703957904575252143889142872.html?ru=yahoo&mod=yahoo_hs

[clearwaters]

May 19, 2010 8:28:21 GMT -5 clearwaters said:

May 19, 2010 7:57:50 GMT -5 Mikey said:

Long ABK $1.04

What the hell

finviz.com/quote.ashx?t=abk

It does look tempting, but...

online.wsj.com/article/SB10001424052748703957904575252143889142872.html?ru=yahoo&mod=yahoo_hs

Sorry, this is better...


www.forbes.com/2010/05/18/todays-big-losers-abk-npd-rso-anw-marketnewsvideo.html?partner=yahootix

[Mikey]

Out FAZ $15.25 and long MON $53.94

[abdogman]

xlf 14.94
macd just went pos for fas xlf on 1m

[maxi]

What pps do u have for FAS right now? I thnk i have tech probs

[maxi]

Okay stupid thing fixed itself... sheesh

[lookingherethere]

Tar balls found on beaches in the Florida Keys this week are not from the Gulf of Mexico oil spill leaking from a well owned by BP (BP.L), the U.S. Coast Guard said on Wednesday, citing laboratory tests.

The news came as a temporary relief to Florida's tourism authorities, who are already reporting negative market impact from the month-long spillage from BP's leaking undersea well, the source of a huge slick that has already dumped oil debris ashore on the coasts of Louisiana, Mississippi and Alabama.

The source of the tar balls has not been determined, the Coast Guard said in a statement.

[jack]

May 19, 2010 8:05:15 GMT -5 ukarlewitz said:

Carl - Contrary to my expectation Monday's low at 1113 was broken by 8 points in Asian trading last night. My range estimate for today is 1100-25. I still think that last week's low at 1056 ended the correction from 1216. Strength above 1120 would be very bullish.


Looks like the DX is finally taking a break. TNX just turned green. Everyone with two cups of coffee in them is thinking bull trap.

He didn't end it with "We now go to SPX 1200-1250 NOW I'm worried!

lol!!!

G'mornin' Gang - screw the Euro!

[abdogman]

xlf 15.00 on 1m
macd still pos fas xlf

[crumbdon]

May 19, 2010 8:37:18 GMT -5 maxi said:

What pps do u have for FAS right now? I thnk i have tech probs

No maxi- you and your 'puter are just fine. You are just unaccustomed to seeing its current green status.

[maxi]

Your friendly neighborhood OPEX week working hard to drive u crazy...

[abdogman]

My main Computer crashed and is rebooting ......I'll be back with post asap
I"m on back up Comp

[ccash04]

I think its almost time to sell the GOOG 500 calls and puts. Anywhere between 498-512 it makes money

[abdogman]

xlf 14.98 on 1m
macd just went neg on 1m xlf and fas

[crumbdon]

Was looking over $NYMO last night. Like any other indicator, it can fail or mislead. But when it reaches the extremes, it is a pretty accurate indicator of at least a short-term reversal. Especially on OPEX week- yuk yuk. See UK's chart earlier in this post. Careful and GL to all my favorite people (everyone on this board).

[abdogman]

BB's tight fas faz xlf
xlf 14.95 on 1m
macd's still neg fas xlf
vix creeping up since 0949 edt

[ukarlewitz]

Why GLD off $4 from peak?

[Mikey]

Long ABX $42.75 just under rising 20dma, volume coming in