Friday, January 28, 2011


This was in reply to a comment I saw on Naked Capitalism, a good blog.   Not just a micro blog as is mine.

attempter says:
Nothing will come from the generation in power who created this mess.
That’s true, but to believe a “new” generation within the same system will be any different is still just a derivative of the mindset being criticized.
Instead, we must fulfill the logic: Nothing will come of the structure which created this mess. It’s elitist economic and political structures themselves which are inherently criminal and empower and cause criminals to commit crimes. One can’t separate the cadres from the cadre. It’s a terminal kleptocracy, and that doesn’t just mean the current personnel. The system is inherently criminal, since it was built on massive robbery in the first place. All Wall Street has done is follow through on the system’s logic.
But when today’s politicians cover for Wall Street, that’s no different in kind from when they allow some two-bit factory owner to pay his workers less than the full value of their work. In principle it’s the same robbery.

I agree with what you say at the beginning, however, your assertion that a factory worker receive the "full value of their work" is misleading at best.  

If the factory owner pays the worker in accordance with their agreement, and the agreement was not made under duress of some kind specific (like work for this or I won't let your enslaved sister out of the whore house) or some kind of general duress (like I really needed a job badly), then it is a fair deal, and had nothing to do with the outright thievery and illegal transference of wealth that has and is occurring by the CKO's--see below.   If however, the factory owner pulled some shenanigan, such as stating that because you missed the schedule, and were late, that you lose 50% of the weeks wage, and BTW the schedule is in a locked room that you cannot get to and it was changed to an earlier start after your shift had already started, then indeed --the factory owner could be compared to the criminal klepto-ogilarchs.

No one "deserves" a job.   I am not saying that is your view, but it is many peoples view that they deserve "their 40".    That is simply and patently not true.  You can expect (and deserve) to be treating fairly under the numerous implied contracts that we live under (such as the Constitution), and certainly this is not happening at this time, however expectations beyond that are not just unrealistic, they are harmful.   That is entitlement thinking, and that is one of the major problems facing society today.   The recent actions of the G to "save the economy" has really made things worse...with everyone looking get a piece of the Government Teats.  

and another comment

Erin says:
Can the financial blogs pour through the report and find evidence of fraud? The financial blogs do a much better job of covering what actually goes on. Can “regular people” take up the mantle?
John says:
Unfortunately, the financial blogs can’t do anything about it — not legally, at least. We can all expose to our heart’s content the criminality, but until someone does something, nothing will happen.
Numerous times the past decade, I’ve seen cases where crime is so blatant it’s as if they were thumbing their noses at us and saying, “Nyeah-nyeah. Look at what we can do, and you can’t do a darn thing about it.”

Agreed, during the housing bubble, the M&A feeding frenzy, the expansion of multiples under advice from our so called financial advisers, well, I actually had friends state...well it must be OK because it must be legal, because they aren't going to jail.

I tried to explain to them how things have been so far over the line for so many years.    For my efforts, the general praise I received was being labeled a chicken little ---even after my predictions become 100% true.   Knowledge sucks, maybe Ill just get a 6 DVD selection of Dancing with the Stars.

Sign up as a follower! It's free and easy

Just click on the left side bar, Sign Up!   No downside, upside of new aggregating, AND if I think people are actually visiting and seeing some value, I may just keep spending all this time charting and posting.

And PS thanks for a donation from Tennessee today, seriously, that covers my Stockchart's membership for almost 2 months, and that is appreciated.    Donations and ad revenue are both helpful, and actually since I let EWI go, at least for the moment, my inflows are getting closer to outflows on subscriptions.   Mahalo!

Big down day

Fairly big down day.

It figures...when everything is looking "non comittal".

Also a gripe to TOS and Disqus.   Remembrance of years past with any big market activity, the things you use the most will fail you when they matter the most.   TOS was always a bit sketchy like that, but with Ameritrade takeover (the evil empire, as least one of the ruling members of the evil bank/broker/G Cartel), it is getting worse as expected.

Still, have kept TOS around, since I am used to the charts.   However, here is the grip.   I spent 30 minutes last night, late, like 11:30 updating my charts, removing artifacts, cleaning them up.   Adding new PRS channels, removing old stuff.

Then when I wake up and look for clarity on market positions....all the old junk had come back, and the new stuff....totally critical for trades in place, GONE....

So annoying, beyond annoying.   Damaging to ability to make profits.   Forces me to recreate, rather than spend time trading.     

TOS stinks.   

ES chart, PRS channel lines definitely in play

Thursday, January 27, 2011

Copper shorts

JJC is an ETF that supposed track Copper futures. 

Using my fancy dancy new Stockcharts membership, I plotted JJC and copper futures, and they do track each other well.

BOM could also be used, it is a double short on industrial metals, alum, zinc, copper.

What I like about BOM is that the MACD nailed the bottom

I cannot call to mind a single instance where I have ever been irreverent, except toward the things which were sacred to other people.
  - Mark Twain

EUR/USD at the near term 61 Fibo

 Rusell with an interesting channel (classic, not PRS)

Forex, PM, and ES Boatload o Charts

Overall I see nothing compelling.  2nd Chart, Doctor Copper is hinting down.

I feel like an EWI writer...."this ought to keep going up until it starts going down"

Copper (aka Doctor Copper) Important Crossover, leaving one PRS channel and confirming the second new channel....Down!

Golden Egg

GBP/ JPY has a very strong channel downward.    I went back short last night and got pounded so to speak.

Faber, insulting working ladies

Wednesday, January 26, 2011

Bearish some FX very important to me

Cable, Fiber Satcom

Don't forget AUD if you play down under
posted a question about kWh electric usage data, and I put the spreadsheet on the "Real Data" Page for them to access, for all 50 states.

I couldn't reply as "Disqus" aka Disgust is not working, again.

Also here, a great fractal from Darell

NYT reporting on 700 peoples view of financial crisis as avoidable

$1B in campaign contributions caused unknown trillions of losses.   And of course the losses are not all exactly financial.    What price are politicians willing to pay for power and privilege?   Any price.   Does power corrupt or does corruption seek power?

Tuesday, January 25, 2011

Economic Metrics that Cannot be Gamed

This is only for Hawaii.   It charts nicely.  Electrical Consumption.

Seems like Hawaii is back to living as large as it has ever done, except for "the peak", and well above the long term growth curve.  


Monday, January 24, 2011

Gold lost support, perhaps egg support, silver likely support

PM bears may get punished here.

There was a similar egg on the SPX, and then instead of falling off the edge of the earth, it ramped like a POMO induced madness.    

However, keep one thing in mind.   Almost all the world's indices ramped along with the US.   this is not just ALL POMO money, this is a real world wide Elliot Wave type move based on mass global psychology.

Scroll down in post below to see the SPX Egg

Sweet move on the GBP/JPY

This was a nice short, using equivalent $100,000.  

Below is the original trade idea, those purple channel lines, its the second chart down

Put call ratio, New Stock Charts membership.

Even though I didn't get the AD-D klik support I was hoping for, I still plunked down the credit card for a Stockcharts membership.   It does look like a good way to organize and quickly review favorite charts.  

Now I got 60 minutes on the put call ratio chart, free member only get daily data,

and looking back 2 years, there were a few instances of extreme readings, but not many.   I guess I would want to know not just the ratio, but what the volume, or better yet, dollar volume of the value of the options.   If there was for some weird reason just 100 calls sold that hour, but 1500 puts, then that would be an extreme reading like this, however, may not mean that much.  

I have the feeling though that NYSE option volume is probably more like 100,000 per hour, just guessing.

Testing this link to see if a linked Stockcharts Chart will appear for you all.   Let me know

Test failed, the link below reverts to daily data only when I am not logged in to my Stockcharts membership.   The annotations are still there, but you won't see the spiky 60 minute put call data i am trying to point out.

On the 21st, beginning of day, there was a 15 to 1 spike in Put call, then same thing on the 24th.   The blue lines on the chart show all the times that has happened.   So this is either some type of error or very strange. 

Setting order to sell on weakness and then institute a trailing stop on futures.$CPCE&p=60&yr=2&mn=0&dy=0&id=p11246832442&a=222235130

Below I am posting a screen cap of the chart, so you get  the whole deal

Below is one trade idea from BPT

Fear Factor

Link to Dabama and whats in a name?

Fibonacci -- A short video

Posted by Rosabarba at Blue Chip Bull Dog, from Business Insider

If you are trading and not at least watching Fibonacci lines, then you are indeed insane.  Any questions?

Disqus is jacked up, gold now looking short/not long, and the SATCOM

My apologies that all the commenters over the weekend, I can't even comment on my own blog, Disqus is very jacked up.   We will see if it fixes itself.

The British Pound/USD is nicknamed "the cable" cause way back when, there was one little cable draped across the ocean floor, and Forex was traded on that cable.   

the Euro /USD being more modern is nicknamed "the Fiber"

How about GBP /JPY, focus of my current short trade.   Well I hereby coin this one the Satcom.

Satcom is bouncing around, very rectangular.

Gold lost support of the 177, lets see if that is a fake break, until then I remain neutral, no GDX short in place.

Pound for Pound Channel

Bank of England (BOE) stating that in order to preserve credibility, they must raise rates or inflation that is already baked in the cake will get worse.  

On the other hand, the GBP /JPY currency pair is a near perfect channel (PRS style that is), saying that pair goes down now.   

Conflicting information for sure.   I took it short.

Other trade idea: FEED long, based on trendline support and Funnymentals