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The Really Useless Thread

  • #114,621
  • Sep 28, 2012 5:55am Sep 28, 2012 5:55am
2x12 done
looking for investors . pm me
  • #114,622
  • Edited 6:17am Sep 28, 2012 5:58am | Edited 6:17am
Quoting FibbinArchie
still don't have the implications of spanish budget / rajoy's comments, etc.. was in town yesterday afternoon so missed it all..

obviously mr market reacted positively...

can anyone help me out? (idiot's guide please)....
forgot i had reuters... duh!!

kay, so eyes open for moody's review results (possible downgrade on zee cards fo espana) and results of an independent audit of spanish banks due out later today (latter is scheduled for 16:00 gmt i'm reliably informed)...

edit- also french budget in focus...
  • #114,623
  • Sep 28, 2012 6:07am Sep 28, 2012 6:07am
not firing on all cylinders... wtf was i doing watching the tokyo session paint drying last night???
  • #114,624
  • Sep 28, 2012 6:10am Sep 28, 2012 6:10am
2890 looks solid if and when, but lets c...

bounced 100 sma h1, so far...
  • #114,625
  • Sep 28, 2012 6:16am Sep 28, 2012 6:16am
maybe retrace to 2942.
i don't care, not going to close short anyhow.

nap time.
  • #114,626
  • Sep 28, 2012 6:17am Sep 28, 2012 6:17am
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  • #114,627
  • Sep 28, 2012 6:23am Sep 28, 2012 6:23am
incidentally the high came in pretty accurately off an ab=cd projection of the first leg up off yesterday's low to the first mini pullback area...
Attached Image (click to enlarge)
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  • #114,628
  • Sep 28, 2012 6:33am Sep 28, 2012 6:33am
shit or pot time.. a bounce to 2949 is norm.. after that a HH will be needed. or this drop is weakness to 2882.
those who can, do. those who cant, talk about those who can
  • #114,629
  • Sep 28, 2012 6:33am Sep 28, 2012 6:33am
fresh in from the wsj-

Markets are braced for the chance that Moody's Investors Service could downgrade Spanish government debt to junk status after the markets close Friday, as the rating firm's timeline to decide on the matter ends this month.

In late August, the rating firm extended its review process on Spain "through the end of September," citing the need for further information to be released throughout the month.

Moody's isn't obliged to issue a decision by Oct. 1, but analysts widely believe a decision will be forthcoming, and that the outcome is unlikely to be positive.
  • #114,630
  • Sep 28, 2012 6:48am Sep 28, 2012 6:48am
Quoting gatorinla
shit or pot time.. a bounce to 2949 is norm.. after that a HH will be needed. or this drop is weakness to 2882.
damn chickens are shitting all over the porch...
  • #114,631
  • Sep 28, 2012 6:49am Sep 28, 2012 6:49am
Quoting gatorinla
shit or pot time.. a bounce to 2949 is norm.. after that a HH will be needed. or this drop is weakness to 2882.
missed the first attempt.. if we now go to 2882 a bounce after is norm. if not 2940 now then 2936 after 2882.. then below 2882 its a bear wanting 2871...more = more
those who can, do. those who cant, talk about those who can
  • #114,632
  • Sep 28, 2012 6:52am Sep 28, 2012 6:52am
Quoting gatorinla
missed the first attempt.. if we now got to 2882 a bounce after is norm. if not 2940 now then 2936 after 2882.. then below 2882 its a bear wanting 2871...more = more
ny open may dip it further before bounce, just usual time of day play, but it's friday, etc...
  • #114,633
  • Sep 28, 2012 6:55am Sep 28, 2012 6:55am
Quoting FibbinArchie
incidentally the high came in pretty accurately off an ab=cd projection of the first leg up off yesterday's low to the first mini pullback area...
passed mine.. i had 2955... between 2929/2973 was ok.. still is.. a new bear or a weak bull.. got a close shortly.. +- 2923.2
those who can, do. those who cant, talk about those who can
  • #114,634
  • Sep 28, 2012 6:59am Sep 28, 2012 6:59am
Quoting gatorinla
passed mine.. i had 2955... between 2929/2973 was ok.. still is.. a new bear or a weak bull.. got a close shortly.. +- 2923.2
was gonna take 2950-60, but looked at the h1 / h4 and figured 2970, spike high res on a couple of occasions, hey ho, may get a second bite...
if moodys do actually dg spain it could turn into a full on, risk-off, capitulation friday, unlikely to hear anything on that ahead of the european close tho'...

if so, then i would conservatively target 2750 area, looking to be flat going into the weekend...

also, after the initial volatility then any entry in the direction of trend on such a news event would be a high probability winner...
  • #114,635
  • Sep 28, 2012 7:11am Sep 28, 2012 7:11am
2920 long
looking for investors . pm me
  • #114,636
  • Sep 28, 2012 7:11am Sep 28, 2012 7:11am
Quoting kbmoonshinex
2919 short
i made a mistake. its mean long..
looking for investors . pm me
  • #114,637
  • Sep 28, 2012 7:15am Sep 28, 2012 7:15am
i target 2959
looking for investors . pm me
  • #114,638
  • Sep 28, 2012 7:20am Sep 28, 2012 7:20am
Chicago open..

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Look Sharp/Trade Tight
  • #114,639
  • Sep 28, 2012 7:28am Sep 28, 2012 7:28am
Quoting PayTheLimit
Chicago open..

http://www.youtube.com/watch?v=2ScvAJG51V4
flat, 1st economic data out in a few...

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  • #114,640
  • Sep 28, 2012 8:05am Sep 28, 2012 8:05am
Quoting PayTheLimit
back in the days when the OEX, S&P100 was the benchmark, it used to be a zoo, because it was a spot index, didn't have any futures, so you had to either hedge with S&P500 futures/options,or NYFE futures..and ofc it was all done manually, there was almost no electronic trading..lots of times even though the market closed at 3:15, you wouldnt get your fills till like 5 or 6pm..and the next day the out trade clerks always had to be in at 5am...
Wow, sure I see, what a mess. How on earth did they manage? or better said I wonder how many bastards just played and benefited just for been in the "middle" of the mess....

Quoting FibbinArchie
forgot i had reuters... duh!!

kay, so eyes open for moody's review results (possible downgrade on zee cards fo espana) and results of an independent audit of spanish banks due out later today (latter is scheduled for 16:00 gmt i'm reliably informed)...

edit- also french budget in focus...
Espana bailout is a done deal since ECB announcement in July, yesterday they already pass most if not all the austerity measures for the bailout, obviously before officially taking the bailout to avoid the political humiliation for Rajoy of having the IMF, EU and the Germans and friends telling you what to do.

Spanish bond to junk is just a formality thick box for the rating agencies. The bank stress test are typical BS like always and they are only important if the # massively overshoot the value needed which I seriously doubt anybody will do it now...remember the last 2 tests ...lol... I don't think even 1 medium Spanish Bank failed ...lol ...can you believe it ... so

So Spain today is just noise for the Q/M roll/move that is already in place in my books....

we'll see

sisse
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