http://finance.yahoo.com/intlindices

http://money.cnn.com/markets/morning_call/










http://www.kitco.com

Energy futures

Currencies/Au/Ag

An up day, all part of the sideways move on the daily chart. All Ords +1.3%, all sectors up with miners taking the lead, +2.2% followed by Materials +2.1%. Consumer Staples is up the least, +0.4%.

The big miners moving strongly: BHP +2.8% and RIO +2.6%. Golds look good too: Newcrest +2.3%, Newmont -0.6% and Lihir +1.4%.

Oils mixed: Woodside +1.2%, Santos -1.1% and Caltex +0.7%.

Not sure on the actual reporting but the banks in general have been verrrry quiet about how the credit market collapse will affect their bottom line. The charts tell the story although the bad news could already be 'factored in' to a degree?

"Feb. 18 (Bloomberg) -- Standard Chartered Plc's $7.15 billion structured investment vehicle may default this week after failing to repay maturing debt, Standard & Poor's said.

Whistlejacket Capital Ltd. would become the sixth SIV to fail on its debt obligations after defaults by funds including Axon Financial Funding Ltd., Victoria Finance Ltd., Cheyne Finance PLC and Rhinebridge LLC. SIVs have defaulted on more than $27 billion of senior debt since October, according to S&P data."

Link to Bloomberg Article

Thanks for the charts. Do you like any of the second tier banks, eg WankBest, our very own state bank?

I think "WankBest" is now a subsidiary of HBOS plc? Far as I know it is no longer listed on ASX as a separate entity...

China's Inflation Quickens to Fastest in 11 Years

Feb. 19 (Bloomberg) -- China's inflation accelerated to the quickest pace in more than 11 years after the worst snowstorms in half a century disrupted food supplies.

Consumer prices rose 7.1 percent in January from a year earlier, the statistics bureau said today, after gaining 6.5 percent in December. That was more than the 7 percent median estimate of 23 economists surveyed by Bloomberg News.

Accelerating inflation adds to evidence the world's fastest-growing major economy is at risk of overheating, after the trade surplus rose more than forecast in January and money supply grew at the quickest pace in 20 months. The central bank may refrain from raising interest rates as it assesses weakening U.S. demand for exports and the blizzards' toll on production.

China is heading into huge troubles. They have 200, 300, maybe 500 million of people who left countryside to work in the city for $1-$3 per day. Once the inflation and then later factory closures will force them into riots it will be ugly.

If they take weapons and try to express themselves by the bullets they will be unstoppable. How many are there in the Chinese army? 3 million? 5 million? 5 million against 100 million? That wll be quite a fight...

Junk bond's CDOs getting worse. Commercial RE slightly better in the last 3 days but still insane.

Chartists, how would you read this chart? It broke the downtrend but then fell back below the line. Meaning still bearish?

This one is a nice good uptrend. Long and strong.

Another sideways chug in the grand scheme of things. All Ords finished +1%, Property Trusts +2.4% and Financials +2.2% both went for a bounce and IT dropped to the bottom, -0.9%.

In the miners, BHP and RIO dropped back a touch, both +1.7% and the golds fiddled around, Newcrest +0.2%, Newmont -0.9% and Lihir +0.3%. Juniors mixed.

Oils mixed: Woodside +1%, Santos -2.2% and Caltex +1.2%.

Asia looking bullish: Honkers +2.2%, Nikkers +1.6% and Taiwan +1.7%.


Over to UK/Europe:








http://finance.yahoo.com/intlindices?e=europe

They have great gun control laws in China, only the police and the army have them. The Commies don't stay in power by letting the citizens have weapons.

Give me a break. China is in the midst of an industrial revolution and it has just started. Everyone else in the world can see what's happening but for some reason the average US citizen is brainwashed to believe the US is the be all and end all. Bzzzt, got news for you....

Personally I think China is well on its way to becoming the global economic leader. China and other Asian countries will be buying up what's left of US corporations and in actual fact this has already begun. There will be a lot of US cities looking like Detroit when the dust settles. The US is BANKRUPT. Oh yes it will survive but the glory days are gone.

Don't worry about the bullets flying in China, it will be US citizens rioting and dodging the bullets not the newly affluent Chinese....

AB, I disagree. Even though the US have major problems at least they are self sufficient in food production (except for sugar)

Also the US does have a history of dealing with economic problems far quicker than other countries. Coupled with the ability to innovate I think the US will fare better than expected.

which camp are you in??

one of these guys is going to be a genius,the other a dill.

Shedlock vs. Schiff: Rumble in the Economic Jungle

http://www.safehaven.com/article-9507.htm

No argument regarding food production. As I said the US will survive.

The ability to innovate, specifically the creation of financial instruments, is precisely what kneecapped the US. Read Bris Bear's link above to see what a rock and a hard place look like.

short EUR/USD 1.4745, 62 fibo at 1.4748

I think its time that Germany bombs and invades Liechtenstein. The US should do the same with the Caymans.

To that prime minister, or whatever he calls himself, of Liechtenstein i say the following: If you dont shut the fornicate up, we gonna get YOU and the rest of your tax heaven terrorists!

Gold! Wam, Bam!

Everything but Dollar and Bonds....

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Crude $98....

$150 starting to look doable....

very important 7060 level in DAX not really broken, just overshoot by 20 points, now comming back somewhat. Since we are up 170 points from todays low, the top for today could be in.

Looks like the second stage booster rockets just kicked in on the up phase, huh?

The real test will come at Thursday and Friday's highs. 1369 on spx.

wouldnt be surprised ONE IOTA if the whole shit gets reversed today. We rallied yest AND today in Europe, this wont last. EUR/JPY did miss the 50 fibo of 168.93 to 149.22 by 10 pips today, so there a top could also be in.

Gonna be a very interesting day.

As long as NQ 1800, ES 1355 holds, I stay long on swing basis....

Below that and bullz would be showing weak hand...

When I was in gradeschool, about 30 years ago, they taught us about how we were running out of oil and gas, and how it would all be gone in our lifetimes. And how the Bay of Fundy with its huge tides was a big power producing opportunity, if only they could find a way to harness that awesome power.... gradeschool in Canada.

For the past couple of years, every so often people start talking about how energy's a short. Not in my lifetime. When someone cooks up a new, non-fossil alternative, I'll consider selling. Until then, they'll have to pry it out of my kung-fu grip.

thats right, but Europe will give back at least some of yest and todays gains. That would be enough for me.

thats what i was told too, not 30 years ago, but 25 and not in Canada but in Germany. They jsut said: "Blitzkrieg!" and all we little Fritz knew what they meant! Oil would go out!

Or they may both be right in time.

bulls be careful......He's bullish

http://carlfutia.blogspot.com/



Spiders - March S&P E-mini Futures: The e-minis are still stuck in a 1340-1370 trading range but I think an upside breakout is imminent. I am going to be a buyer at 1356 using a 10 point stop. I still think that a move to 1430 is underway and that the January 22 low at 1256 will hold.

Held onto QID over the weekend. When even the bears are bullish...

Thank you, Sir. May I have another? (Whack!)
Thank you, Sir. May I have another? (Whack!)
...

Nice write up about volume and how everyone thinks that surging volume will last forever and how the market is cannibalizing itself without the players realizing it. The most revealing part is that these guys don't realize that derivatives: options, and futures are killing the game.

Anyone who keeps their money in FTSE and DAX needs a reality check.

link

Bellwethers Update (subscribers)

http://wallstreetexaminer.com/?p=2322

Bucky still curling around the 20 ma looking like a st low. Stick a fork in the T-bone, it's looking done. Howsomeever, the futs put a 75% probability of a cut in the fed fun rate to 2.5% in March, so until it falls below 115, who knows.

qqqq 3 day cycle projection 44.64.

spx 3 day cycle projection 137- done

Went long March 190 GS calls on Friday at 4.5...
That double bottom is looking good.

edit: Sold half at 5.4..

dia 3 day cycle projection 125.25

dow 5 hr cycle projection 12560

Well, we do have enough guns here floating around, at least one for every man, woman and child. So you are in the decoupling camp, AussieBear? I believe I read that 40something % of Chinas exports are to the US, and the margins of their factories are already squeezed by the like of the Walmart gangsters, so that is going to pose an acute unemployment problem for the Cent.Committee at least I should think. As for the long run, it appears you are right about their industrial emergence. For the next 5 years or so, it's certainly going to be a massive tugofwar, me thinks.

spx 3 day cycle projection 1367

dow 3 day cycle projection 12500.

5 hr cycle projection could also be 12,500. 12,560 now looks too high.

qqqq starts pullback toward 3 day cycle MA rising at 44.10

short EURJPY 158.99, BIIIIIGGGG 50 fibo at 159.07

DJ Fed Accepts $10.75 Bln In Overnight RPs

Type of transaction: Overnight RPs
Total accepted: $10.75 Bln
Total submitted: $22.15 Bln

Agency Collateral Operation
Total accepted: $690 Mln
Total submitted: $6.35 Bln
Stop-Out Rate: 3.04%
Weighted Average: 3.05%
High-rate submitted: 3.06%
Low-rate submitted: 2.95%

Treasury Collateral Operation
Total accepted: $8.06 Bln
Total submitted: $12.2 Bln
Stop-Out Rate: 2.88%
Weighted Average: 2.91%
High-rate submitted: 2.95%
Low-rate submitted: 2.8%

Mortgage-Backed Collateral Operations
Total accepted: $2 Bln
Total submitted: $3.6 Bln
Stop-Out Rate: 3.12%
Weighted Average: 3.14%
High-rate submitted: 3.15%
Low-rate submitted: 3.05%

(Data was provided by the New York Federal Reserve Bank).