Click image for original size
JI
jimkane
Rep: 3,058
Posts: 33,089
Yep, the old shake it to the downside game. Now, some up, or an upside shakeout?
RA
rat89
Rep: 0
Posts: 7,015
1.27 on spy
Originally posted by jimkane
Yep, the old shake it to the downside game. Now, some up, or an upside shakeout?
RA
rat89
Rep: 0
Posts: 7,015
and a 1.27 of this down swing takes it right back up to 136.73.....too many swings tie up right around there....no?
Click image for original size
JI
jimkane
Rep: 3,058
Posts: 33,089
Yeah, but you are talking a whopping two whole points against him. He would probably not cover at ten points against him. It's just noise. He isn't trying to technically time it, he's building a position, and is willing to take immense heat for a big long-term payoff when the bond vigilante's finally have had enough.
Originally posted by jarek
Interesting
Click image for original size
JI
jimkane
Rep: 3,058
Posts: 33,089
They want to sweep it up, and probably soon. But, there is a lot of 'overhead supply'.
JA
jarek
Rep: 94
Posts: 3,474
If they reach this 3D at line they'll have 2 choices - a strong bounce or drop to the lower green ML maybe even still today:
Click image for original size
RA
rat89
Rep: 0
Posts: 7,015
what is your clue about sweeping it up?
Originally posted by jimkane
They want to sweep it up, and probably soon. But, there is a lot of 'overhead supply'.
JI
jimkane
Rep: 3,058
Posts: 33,089
Two things. One, they swept it down, and they seem to have no intention to run this back up, so they are doing nothing, and hence another stop sweep is very tempting, this time up. Second, look at that 1-min TL overhead. More touches than I can count. They almost never, in my experience, roll off a line like that. They want to take that out and catch stops more than they can stand. I strongly suspect they will take it out, and soon. Then they can dump this if they want.
Originally posted by rat89
what is your clue about sweeping it up?
Originally posted by jimkane
They want to sweep it up, and probably soon. But, there is a lot of 'overhead supply'.
JI
jimkane
Rep: 3,058
Posts: 33,089
And now Druckenmiller joins Gross and Grantham. Maybe it just took one person (Gross) to say out loud the Emperor has no clothes? At some point the bond vigilantes will overwhelm the Fed. Maybe not yet, but some day...
http://www.zerohedge.com/article/druckenmiller-calls-out-treasury-ponzi-scheme-its-not-free-market-its-not-clean-market-ident
http://www.zerohedge.com/article/druckenmiller-calls-out-treasury-ponzi-scheme-its-not-free-market-its-not-clean-market-ident