http://finance.yahoo.com/intlindices

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










http://www.kitco.com

Energy futures

Currencies/Au/Ag

Market in limbo once again. All Ords -0.3% with most sectors showing little movement. Healthcare, +4.4%, is the only big mover followed by miners +0.3%. Telecomms are down the most, -1.3% and Financials are next, -1.3%.

The big miners are on hold: BHP -0.9% and RIO -0.6%. Golds are on the move: Newcrest and Newmont +4%, Lihir -5.6%. Juniors flat to up.

Oils aren't getting too excited about $100 crude: Woodside +0.5%, Santos +2.4% and Caltex -1.8%.

Oh dear, All Ords dropped the ball, closing -2% which puts us below recent support. Most sectors dropped into the red led by Property Trusts, -3.4% and Financials, -3.2%. Healthcare maintained the upside lead, +3.4%.

The leading miners both went into a slide: BHP -2.5% and RIO -3%. On the other hand golds barrelled up: Newcrest +4.1%, Newmont +3.2% and Lihir +5%. Juniors flat to up.

Oils did a run although the Energy index only moved up +0.9%. Woodside finished +4.5% and Santos +3%.

Bearz driving in Asia: Nikkers and Sth Korea -2.6%, Honkers and Taiwan -1.6%.


Over to UK/Europe:








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

if asia and australia foretell a groundward break out of the triangles on the SPX and DOW, then i'm going to pick up some SKF today.

on the udder hand, this market flips around intraday like a master's nunchucks. any which way, those triangles have got to give soon.

jjjaaaaaaaaaaaa! Go! Killem!

HP beat by .05 eh...not too shabby. Wonder if they are still getting 40% of their revs from selling ink.

If we break down out of the triangle on the monthly SPX 60 min this could be fun. Tiny little throwever up during the day but closed right on the upper line. We're going to gap through the lower line...love to see us close well below it.

short USDCAD 1.0178

which phuckhead leaked the mortgage data? It was scheduled for 7am NY, but markets moved circa 10 mins in advance. I guess it was becasue of that data, good to see on EURUSD 5 mins or 1 min chart.

Mortage Applications are down 22.6%

The US Govt. will need to Northern Rock-ise FNM to nominally bail out the mortgage mess. With the broadening of the crisis beyond the bounds of residential RE, the Brits will likely need to bail out Lloyd's (again), IMHO, as will the US need to bail out "deep pocket" MBIA. And then they'll need more Dubai money for Citigroup, BofA, Chase, on it goes ...

The rabbit hole leads to a Gharwar-sized sewer ...

To paraphrase Hypertiger: fractional reserve banking (the ultimate credit) is the trough from which 99% feed. When it runs dry, the top 1% feed on the carcasses of the bottom 99%.

The markets are beginning to realize the fractional reserve concept. The credit structure is broken. The fix, whatever it is, will be deflationary. The only way to rebuild confidence is for credit buyers to get a price proportionate to risk.

Asset values must fall.

Soon.

EURUSD hourly 38 fibo at 1.4634, uptrend at 1.4628

About triangles. The closer the price gets to the apex, the smaller the move on the breakout. Once they are more then 3/4 of the way through they don't generate much of a move. They can even trickle out the tip, in which case the rangebound churning just continues, typically at very low amplitude.

this is DAX hourly chart. So you say, there will be NO big move when we llose the uptrendline???

[attachmentid=95806]

*DJ UK's Brown: Profit From N Rock Sale Will Return To Taxpayer

I worked for HP (as an engineer) for six years. It was a fat, over staffed, poorly managed organisation. Hurd's party trick has been to come in and cut costs, cut costs, cut costs. For example, there have been little or no pay rises for the staff the last seven years. After that process has run its course and there's no more fat to cut, there's nothing there to drive growth.

My bias on the company is short once they get the dividend payment out of the way.

I was speaking in generalities, recalling what I learned many years ago when I studied Hurst, and Edwards and Magee, and which I have observed to be generally true through the years. But there are no absolutes in this business. You know that. There are only probabilities. And looking at a tiny zoomed in section of a chart tells me little. Context is everything. Furthermore, whether a move is "big" or not, depends on your time frame. A move which would be huge to a trader trading in minutes wouldn't even be noticeable to a trader looking for intermediate swings.

TNX thrusting again.

F of X

Doen't it depend on how big the triangle?? ; when talking about congruent triangles, far in one doesn't look like far in another...So the magnitude of the osscilations in one triangle appears greater than the other although proportianately similar.....

And these are the illusions that can get one in big trouble...

Our financial infrastructure is subject to them..take the multiplicity of almost, and actual catastrophic market events,,, starting years ago:Proctor and Gamble,Orange county,Peso crisis,Ruble and Ltcm crisis ,Y2 crisis, Year 2000 and dotcom crisis:up until recently all of the financial daredevilish trapeze artists were always saved at the last moment by the succeeding bubblacous net...or Government intervention..

Behind these "saves" were the servants who got into these problems in the first place. Under the lash of their immediate supervisors encouraging them to Produce,produce,produce, the equally important responsibility--safety-- was forced into a back seat.

So everytime these reckless traders were saved just in time,instead of examining their safety record, and promising themselves to pay a lot more attention, their supervisors,profitably but foolishly, forced them back into their puritanical devotion towards production...

They reasoned that this perpetual motion machine was totallly immunised against disaster because of the self-evident resiliency it displayed everytme the market got itself into trouble..

But stealthily , unlike swiss cheese,disfunctional undermining holes were being drilled--the remnants of each disaster-- that in actuality were increasingly destabilising this apprent rock of Gibralter..were band aided and cosmeticised--lip gloss and rouge aplenty as this ancient porcine whore became unnotiably decrepit.

The Paradox of continuous salvatioin was that it compelled the supervisors to continue lashing their minions into productive servitude while unconsciously ruining an entire civilization..

Now there are so amny complicating disturbances at every level of activity it s become irreparable..

beardrech You cannot amputate the past in its entirety;secretly, and not so secretively it continues ,as if a Herculean,and destructive ghost, dutifully arriving for work along with all the other unemancipated Bear Sterns serfs...

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*DJ UK Gov: Off Market, OTC Trades In N Rock May Not Be Settled

aren't derivatives wonderful....
system is breaking down......
taxpayer should be well rewarded!!!!!!!!!

qqqq has surpassed 3 day cycle projection of 43.25.

spy has ticked 3 day cycle projection of 133.50

dia just missed 3 day cycle projection of 122.30.

It will be interesting to see if today is the exact opposite of yesterday and we gap lower and end the day green. Bulls are gasping at straws right now but a stick save is still a possibility. I will wait until a break occurs as I am not as nimble as K wave and madness!

SRS should pop outta da gate...if she holds it, should be off to da races....multiple time frames ready to turn up...

In Merika, different people get rewarded for this type of thing ...

you pick that SRS yest afternoon?

yeh... wont hold it fur long though if it don't fully power up today

what is SRS? Im confused by some of those new instruments

DJ Fed Accepts $3.75 Bln In Overnight RPs

Type of transaction: Overnight RPs
Total accepted: $3.75 Bln
Total submitted: $33.85 Bln

Agency Collateral Operation
Total accepted: $3.6 Bln
Total submitted: $18.95 Bln
Stop-Out Rate: 2.94%
Weighted Average: 2.94%
High-rate submitted: 2.94%
Low-rate submitted: 2.8%

Treasury Collateral Operation
Total accepted: $150 Mln
Total submitted: $8.8 Bln
Stop-Out Rate: 2.74%
Weighted Average: 2.74%
High-rate submitted: 2.74%
Low-rate submitted: 2.5%

Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $6.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 2.96%
Low-rate submitted: 2.9%

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

i could kill my phucking broker not filling me short oil 99.90 yest, his high was 99.84, but the official high was in fact 99.99. Phucking bastard!

Double inverse DJ real estate index, I believe.

qqqq has run up to the declining 3 day cycle MA at 43.51. 3 day cycle indicators appear to be forming a trough but have not made the turn.

Bucky climbed up from the 20 to 7 cents over the 50. Trashury yields still climbing as support.

Dow broke a shport line at 12278 and is trying to recover above it. There's a channel line at 12232 that would be the next shport.

spx found a shport line at 1337

this looks like the floor right here...bears gotta blow it out....or just more chop chop

I closed out the BSC putz from Friday when the bottom didn't drop out this morning.





* I'm learning to be satisfied with 20+ %


but it's not easy.

Check out the 5 day head and shoulders on Dow and SPX. higher right shoulder on the spx generally not a good reversal pattern though.

ALso check out how this developed from tiny H&S patterns on 2/13-2/14.

bears givin it another try...as long as we stay under 12,300, bears got da ball running down the sideline with only the punter to beat....

[attachmentid=95809]

Dow 3 day cycle projection looks like 12,000.

spx 3 day cycle projection looks 1324.

There go the lows on YM ER2

SRS bangin on the key 116 level yet again...need to see upside thrusters kick in real soon now

This market has caught the overconsumption disease. It's eating through 3 day cycles in 30 minutes.

3 shport lines between 12225 and 12200. Then a huge air pocket.

Very bullish development----IYR ain't going down, This is second day in a row showing extraordinary accumulation. SRS can't crawl out of basement.

Interesting day - weary of an upside reversal. Volume's fell yesterday on NYSE and Nasdaq = weak selling. Semi's (SMH) and retail (RTH) are green .25% right now. Charts still look like a bottom - I smell a bear trap.

Still watching SP 1326. Anything above this is a bottom. If we fall below, will short with both fists.