I thought I might try something different here, and see how it goes. It's quite difficult for me to post a lot to the various topics, especially with charts, since the method I use for posting charts is very cumbersome. Some charts can take me a half hour or more to put together. Since the charts I use for posting are not my 'working' charts, this work is duplicative.

I have various ideas and thoughts here and there about different things, and if I have a 'central clearing area' where I can just put out a sentence or two, pointing to something without doing the work, the members can do what assessment and analysis they want with the ideas, and post charts if they want, preferably to the respective areas they have for that topic. This way it would leave this topic more 'clean'. If you have a question or comment on what I was pointing out you could post that in here.

Let me know if you have any thoughts on this, or anything you think would be helpful/useful. Keep in mind I am not going to just tell you all my best setups in advance, especially if I plan to trade them, as that is not 'what I do' in here, or anywhere. I want to point out things that may need some work, and might go unnoticed otherwise, or are just of interest.

For some reason I never got notifications of your posts in this thread Jim. Very strange.

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Originally posted by jimkane

Well, with the selling today, the INDU close below the August intraday low, and INTC disappointing and dropping the futures substantially, I'd really be on the watch for a surprise Fed cut. If they follow through to the downside tomorrow I'd be amazed if they didn't act. If not, the next most likely time, in my opinion, is like last time, options expiration Friday, pre-open, to devastate as many shorts as possible. Like the 'shorts' have anything to do with all the trouble in the economy. So, be watchful for this, in case.

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Right now you almost get the sense that the market doesn't even believe in the 'magic' of a rate cut anymore. Nobody knows how deep the subprime mess is, but everyone knows it's deeper than what's surfaced so far. No rate cut can save them from this. And if the government tries to bail them out with cash injections, my only question is: Where would they take the money from? Last time I checked there was a massive deficit etc...
Just too many things that don't rhyme here.
Many have already conceded that a recession is inevitable here and in my opinion we are already in it. The only question is how deep the pile of cow dung really is.

Another

The first chart, M, with the two sets, is what I've been watching. Lower // hits with ML, and it doesn't go up. Now I'm watching the lower // of the bigger set. But maybe with this big 'stimulus' package we have a 'stab through' and now a bounce, and then head to that // later. We'll see. I can't believe the Fed didn't do anything this morning. Greenie would have already had us 100-150 beepers lower, in my opinion.

Oops, didn't see the first chart on the previous page. The second chart with the two sets.

quote:

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Originally posted by jimkane

We'll see. I can't believe the Fed didn't do anything this morning. Greenie would have already had us 100-150 beepers lower, in my opinion.

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Somewhere I recently read a comment by a big fund manager that a lot of people have no faith in Bernanke. I guess it's because he is not like Mr. Chainsaw. Big Al would override anyone who wasn't on his page whereas Bernanke seems to seek a general consensus. In times like these with the market in jitters waiting is not a modus operandi people want to see. Question is: Who get themselves into trouble in the first place...?

Like I said to everyone I talked to since the Monday debacle, 75 beepers pre-market... But they aren't as impressed now as they were when the news first came out...

I almost think it helped that the US markets were closed yesterday. The panic likely would have just carried over yesterday and could have made things much worse...

It's nothing more than a thought, and El Presidente's yapping tonight could change things, but technically this closed with a pattern of sorts that implies a strong (well, medium?) gap up and run tomorrow. See if you can see what I am talking about. Use the recent setup in the S&P, which, despite the great charts posted lately, no one posted my main area, the one it rolled right off of. Add on the clear setup that sent it up after pulling back, and the layout for the gap should be clear. If you post charts please use a current topic or start a new one, don't post charts in here, just 'thoughts', and then if you want, reference the posting area.

I think the second chart is particularly telling. I agree with the conclusion, this market is nothing more than Euro-yen carry trade on, Euro-yen carry trade off. No balance, no participation, no depth, as I discussed in my last monthly commentary, just leverage/deleverage, risk on/risk off, and that's it. Skynet is totally sentient. How long, like in the movie, until the machines decide to vaporize the useless humans?

http://www.zerohedge.com/article/tale-two-decouplings