Friday, January 21, 2011
Tuesday, June 8, 2010
Wednesday, January 6, 2010
Some Nice Weekly Charts
From Cobra's Market View:
01/06/2010 Market Recap: SPX Target According To Measured Move:
01/06/2010 Market Recap: SPX Target According To Measured Move:
The chart below shows all the possible target according to the measured move pattern. SPX reached the most common target at Fib 61.8% today (Due to the limit of the Fib tool, in order to display the correct target price, I can only put the Fib tool upside down, anyway, treat Fib 38.2% as Fib 61.8%), so it’s possible that it could pullback tomorrow. The next target 1150 above is also very possible, see chart 4.1.0 S&P 500 Large Cap Index Weekly), there’re multiple resistances around there. Also according to Elliot Wave theory, if you still believe A = C, then the target is 1159 (see chart 4.1.9 SPX Cycle Watch (Weekly)) which also points to 1150 area. Coincidence? We’ll see.
SHORT-TERM: RUSSELL 2000 LOOKS WEAK
1.3.2 Russell 2000 iShares (IWM 30 min), could be a Head and Shoulders Top in the forming.
4.1.2 Russell 2000 iShares (IWM Weekly), the weekly chart clearly shows that IWM has multiple resistances above so again, IWM could pullback from here.
Nothing else new, no improvement on huge pile of short-term bearish signs, see trend table above. As mentioned in today’s After Bell Quick Summary, the market could pullback tomorrow, I’m not very sure though, but the the bottom line, I think a short-term pullback soon is very likely.
SHORT-TERM: RUSSELL 2000 LOOKS WEAK
1.3.2 Russell 2000 iShares (IWM 30 min), could be a Head and Shoulders Top in the forming.
4.1.2 Russell 2000 iShares (IWM Weekly), the weekly chart clearly shows that IWM has multiple resistances above so again, IWM could pullback from here.
Nothing else new, no improvement on huge pile of short-term bearish signs, see trend table above. As mentioned in today’s After Bell Quick Summary, the market could pullback tomorrow, I’m not very sure though, but the the bottom line, I think a short-term pullback soon is very likely.
US Avoids Technical Default By Three Days
US Avoids Technical Default By Three Days: "
On December 24, the Senate passed a vote by a razor thin margin (with not a vote to spare) to raise the Federal debt ceiling from $12,104 billion to $12,394 billion. The actual debt ceiling increase took effect on December 28. And as the chart below shows, the Treasury's cash flow projections were spot on: 3 days later, and the debt subject to limit surged to $12,254, a jump of over $200 billion in 2 days, and a whopping $150 billion over the old debt ceiling. Three days is all the buffer the administration's reckless spending spree has afforded this country to avoid bankruptcy. Had one more Democratic vote dissented from the stopgap measure, the US would now be in technical default. There is just $140 billion left before the revised debt ceiling is breached. We hope for the country's sake that Bill refunding in January is massive, because as we already pointed out, on January 7th we expect another ~$130 of new Treasuries to be announced for auction by January 15th. And then there are two more weeks in January... Which is why the Treasury better be using that TARP money to pay down all it can, because if the general population understands how close this nation was to the fiscal brink, many more answers may be demanded out of the ruling party as to how it could allow things to get so out of hand.
"
On December 24, the Senate passed a vote by a razor thin margin (with not a vote to spare) to raise the Federal debt ceiling from $12,104 billion to $12,394 billion. The actual debt ceiling increase took effect on December 28. And as the chart below shows, the Treasury's cash flow projections were spot on: 3 days later, and the debt subject to limit surged to $12,254, a jump of over $200 billion in 2 days, and a whopping $150 billion over the old debt ceiling. Three days is all the buffer the administration's reckless spending spree has afforded this country to avoid bankruptcy. Had one more Democratic vote dissented from the stopgap measure, the US would now be in technical default. There is just $140 billion left before the revised debt ceiling is breached. We hope for the country's sake that Bill refunding in January is massive, because as we already pointed out, on January 7th we expect another ~$130 of new Treasuries to be announced for auction by January 15th. And then there are two more weeks in January... Which is why the Treasury better be using that TARP money to pay down all it can, because if the general population understands how close this nation was to the fiscal brink, many more answers may be demanded out of the ruling party as to how it could allow things to get so out of hand.
"
Great Post from Down Goes Brown
The other Toronto Maple Leaf training camp letters: "If you're a Leafs fan, you've probably seen this training camp letter from 1962 by now. It's been making the e-mail rounds for weeks.
The apparently real letter is from Leafs' GM Punch Imlach to player Jim Pappin, informing him of the schedule for the upcoming training camp. It's filled with nostalgia for a bygone era, including quaint references to train travel, mandatory golfing sessions, and the requirement that all players be able to do 20 pushups.
But while the Pappin letter makes for a fun look back at hockey's past, many fans don't realize that these letters are a Toronto tradition. Every summer, the current Leafs general manager sits down to type out a letter to his players to let them know what to expect in September. And I just happen to have several original copies in my collection.
For example, here's the letter Brian Burke sent out this past summer:
And here's the letter from the year before, when Cliff Fletcher was in charge:
And, of course, the 2007 letter:
"
The apparently real letter is from Leafs' GM Punch Imlach to player Jim Pappin, informing him of the schedule for the upcoming training camp. It's filled with nostalgia for a bygone era, including quaint references to train travel, mandatory golfing sessions, and the requirement that all players be able to do 20 pushups.
But while the Pappin letter makes for a fun look back at hockey's past, many fans don't realize that these letters are a Toronto tradition. Every summer, the current Leafs general manager sits down to type out a letter to his players to let them know what to expect in September. And I just happen to have several original copies in my collection.
For example, here's the letter Brian Burke sent out this past summer:
And here's the letter from the year before, when Cliff Fletcher was in charge:
And, of course, the 2007 letter:
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