I must give credit to DDT for saying that earlier.... particularly after listening to The Lloyd testify today. "Money became plentiful, and so people paid less attention to risk." -Lloyd
No comment on that. There's plenty to read on the web already. We’re here to trade what they give us.
Let's get right to it, as plenty of important things happened today on the charts. I'm going to include a chart on INTC and JPM tonight due to earnings coming right up on us. INTC reports after the bell tomorrow, with JPM on Friday morning pre-session. You’ll also find Ziggy’s T Chart with an potential turn time early in the session tomorrow morning. Economic calendar tomorrow will include Retail Sales and Jobless Claims before the bell, followed by Business Inventory at 10:00 and Nat Gas Report at 10:30. (good luck to BigIsland and Mau on their trades!) At 11:00 will be the 3 and 6 month auction, with the 30 Y announcement at 1:00 PM.
If you haven't seen this article by Ambrose Evans-Pritchard, it's really worth a read. I'm particularly fond of this reporter as he was the first to dig in to the CDS situation and piece it all together before anyone else I can remember. He laid it all out how the CDS would fill the coffers of the "broken banks," and boy.. was he spot on at least with regard to AIG. "Lloyd" knows how many other "situations" like that took place. Good trading to all of us tomorrow… look at these ramp ups as new opportunities to short it if you will, but wait for your own signals. And don’t forget to pay attention to stocks that are running- it’s a great way to make money and use it to go the other way! See you all later tonight, but if you see me too often, shoosh me away so I’ll get my other project done, okay?
And this is for my precious $VOMINX tm worshipper and friend, Osi.
Osi…. STICK TO YOUR SIGNALS OR ELSE! ;-) We need you happy so you’ll keep sharing your charts and wisdom!
DDT here, I thought I would add quick EURO chart, looks like we’ve got ourselves a short here.