TNA was a Hold last Friday, and rose today, remaining a Hold. The TNA buy was at $56.50. TNA closed at $61.04, up 8.0% since the buy. The candlestick today was a White Candlestick (normal buying pressure).
TZA was a confirmed sell on Friday and today has a Wait signal. The candlestick for today was a Black Spinning Top (complete indecision between bulls & bears). The TZA sell price was $6.51. TZA closed today at $6.35, down 2.4% since the sell.
Three recent TZA Buy signals have failed and may perhaps serve as a warning: Buy at $7.33, sell at $7.14 Buy at $7.11, sell at $7.05 Buy at $7.04, sell at $6.51
For that matter, recent TNA Buy signals (until this last one) have also been uninspiring: Buy at $55.36, sell at $55.43 Buy at $55.69, sell at $55.63 Buy at $56.50, up 8.0%
Summary of $RUT based ETFs & a few popular ETFs & stocks (Market positive): +11 Hold: GS(up 2.8%), ERX(3x energy, up 6.9%), QQQQ(up 1.4%), IWM(1x, up 3.1%), UWM(2x, up 6.4%), TNA(3x, up 8.0%), SPY(up 0.6%) Wait: RWM(-1x, down 2.7%), TWM(-2x, down 5.5%), ERY(-3x energy, down 13.6%), TZA(-3x, down 2.5%)
Transition to Market Positive: +1 Highly Reliable BUY-IF: AAPL
Transition to Market Negative: -2 Highly Reliable SELL-IF: DRN(3x), URE(2x), IYR(1x), Not Very Reliable SELL-IF: DIA Highly Reliable BUY-IF: DRV(-3x), SRS(-2x) Low reliability SELL-IF: GOOG, AMZN
Market Negative: -4 Hold:, SCO (-2x oil, up 4.9%), DTO(-3x oil, down 10.5%) Wait: USO (oil, down 2.5%), UCO (2x oil, down 2.5%)
Comment: Somewhat Bullish overall, Bearish Oil, Bullish Energy, Bullish $RUT, Bearish Real Estate Action for TNA or TZA for tomorrow: None
Who are we kidding? That should come as no surprise. It is the same reason why the US companies got bailed out. The people and institutions they owe money to, it those bondholders, corrupted, pressured and influenced the government officials to use taxpayer's money to bail them out, so that those bondholders can get their money back.
It isn't about bailing out Greece. It is about bailing out those banks that lent money to Greece.. Those banks own the European governments. The Europeans like to pretend that they are holier than thou and oh so enlightened. Beneath the cover, they are every bit as incompetent and corrupt and phony as everyone else.
TNA opened up 0.27%. A week old gap from $55.95 to $56.03 was not filled. Today’s gap was filled. TNA was up 1.9% at the high, and closed up 1.26%.
We are now in a Full Moon Trade, which tends to favor TNA. AmericanBulls has TNA with a Hold signal. This trade bought TNA at $56.50, and closed today at $61.04, up 8.0%.
Volume for TNA today was below average for the past 24 days.
$RVX (VIX for $RUT) was down 1.6% today with TNA up 1.26%. No divergence.
TNA has now been up 7 of the last 13 days. Chop generally. Drifting higher.
The high for TNA yesterday was $61.44, the highest TNA price since November of 2008.
Ultimate Oscillator for TNA rose from 63 to 68 today on a up day. A reading of 68 is Very Good for TNA.
MACD on the monthly chart crossed over to the upside 5 days ago and is rising. Good for TNA.
Bollinger Bands for $RVX (VIX for $RUT): today’s white candle spiked below the bottom Bollinger line and closed above that line. MACD seems to have topped and is coming down. Looks like $RVX might rise tomorrow. Bad for TNA.
Bollinger Bands for $RUT: Today’s white candle for $RUT has been progressing upward, staying close to but below the top Bollinger Band. It looks like $RUT may be riding the top Bollinger Band higher. MACD may be working back up. Good for TNA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s doji candle closed just below the upper Bollinger Band, after a close four days ago above that band. The upper Bollinger Band is rising. Looks $RUT could keep rising. Good for TNA.
TNA had a higher high, higher low and higher close – Good for TNA.
Money flow for the Total Stock Market was $237 million flowing out of the market on an UP day. Bearish – Bad for TNA.
I will post the AmericanBulls candlestick interpretation a bit later.
Does the Greek aid package really solve the problem?
Late yesterday, European leaders hammered out a stop-gap arrangement that would see additional funds made available for Greece to help them battle their deficit. Of note is the fact that the lender of last resort is involved, (i.e. the International Monetary Fund). Again, World leaders in their infinite wisdom keep throwing money around like its confetti ad they fail to tackle and address the moral hazard that is plaguing not only Greece, but other European and World Governments.
Bloomberg News’ piece Greek Aid Terms May Be ‘Red Herring’ Amid Recession correctly points out that Greece’s rescue package from the European Union will do little to bolster economic growth even as it staves off the immediate risk of default. In easy terms, it strengthens the analogy I used in an earlier write up I did about the situation. The package is akin to borrowing money from one loan shark to pay off another but does nothing to help stimulate the economy of Greece so that it can actually comfort lenders to the extent that it can pay back some of that choking debt.
Goldman Sachs’ chief European economist Erik Nielson pointed out that “The real issue will be whether Greece can regenerate growth while cutting the fiscal deficit… “Without growth, the debt is only sustainable if someone will finance them at much less than 5 percent”. He felt that this rate would need to be sustained for at least the next decade.
Making this entire mess even worse is the recent economic data out of Greece that suggests that the economy could contract as much as 4 percent this year, the most in more than three decades, (Deutsche Bank AG estimates) as Greece struggles with a very significant recession.
I read a great analogy of the situation while gathering feedback from various news outlets. One analyst pointed out that the group of European nations merely swerved to avoid a crash in Greece. I can not argue with that thinking.
They have made available monies to a country that has difficulty in managing its books, has lied about its actual fiscal situation in the past and has a contracting economy. Does anyone really expect that the situation will end well? I certainly don’t and maintain that the bandage that has been offered is simply that. Once the glue wears off, the bleeding will start again and by that time, the situation will be worse.
Simon Johnson, a former IMF chief economist, said in a Bloomberg Television interview (quoted in the article above) that the plan increases the risk of “moral hazard” in Europe. He added that “This is not fixing the issue…The Greeks could seize the opportunity. You have taken away their incentive to solve the problem.”
Earl, Nice Work
http://stockcharts.com/h-sc/ui?s=bac&p=D&b=5&g=…
cLOSED AT 18.66
The Daily view from Americanbulls
TNA was a Hold last Friday, and rose today, remaining a Hold. The TNA buy was at $56.50. TNA closed at $61.04, up 8.0% since the buy. The candlestick today was a White Candlestick (normal buying pressure).
TZA was a confirmed sell on Friday and today has a Wait signal. The candlestick for today was a Black Spinning Top (complete indecision between bulls & bears). The TZA sell price was $6.51. TZA closed today at $6.35, down 2.4% since the sell.
Three recent TZA Buy signals have failed and may perhaps serve as a warning:
Buy at $7.33, sell at $7.14
Buy at $7.11, sell at $7.05
Buy at $7.04, sell at $6.51
For that matter, recent TNA Buy signals (until this last one) have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Buy at $56.50, up 8.0%
Summary of $RUT based ETFs & a few popular ETFs & stocks (Market positive): +11
Hold: GS(up 2.8%), ERX(3x energy, up 6.9%), QQQQ(up 1.4%), IWM(1x, up 3.1%), UWM(2x, up 6.4%), TNA(3x, up 8.0%), SPY(up 0.6%)
Wait: RWM(-1x, down 2.7%), TWM(-2x, down 5.5%), ERY(-3x energy, down 13.6%), TZA(-3x, down 2.5%)
Transition to Market Positive: +1
Highly Reliable BUY-IF: AAPL
Transition to Market Negative: -2
Highly Reliable SELL-IF: DRN(3x), URE(2x), IYR(1x),
Not Very Reliable SELL-IF: DIA
Highly Reliable BUY-IF: DRV(-3x), SRS(-2x)
Low reliability SELL-IF: GOOG, AMZN
Market Negative: -4
Hold:, SCO (-2x oil, up 4.9%), DTO(-3x oil, down 10.5%)
Wait: USO (oil, down 2.5%), UCO (2x oil, down 2.5%)
Comment: Somewhat Bullish overall, Bearish Oil, Bullish Energy, Bullish $RUT, Bearish Real Estate
Action for TNA or TZA for tomorrow: None
I think Carl knows he is a good trend trader and perhaps he feels like right now, the trend may not be as clear. Who knows though.
As we used to say 'Right On'!
Who are we kidding? That should come as no surprise. It is the same reason why the US companies got bailed out. The people and institutions they owe money to, it those bondholders, corrupted, pressured and influenced the government officials to use taxpayer's money to bail them out, so that those bondholders can get their money back.
It isn't about bailing out Greece. It is about bailing out those banks that lent money to Greece.. Those banks own the European governments. The Europeans like to pretend that they are holier than thou and oh so enlightened. Beneath the cover, they are every bit as incompetent and corrupt and phony as everyone else.
Carl seems to have lost interest in trading, and when he does try something — boom! Tough market.
TNA opened up 0.27%. A week old gap from $55.95 to $56.03 was not filled. Today’s gap was filled. TNA was up 1.9% at the high, and closed up 1.26%.
We are now in a Full Moon Trade, which tends to favor TNA.
AmericanBulls has TNA with a Hold signal. This trade bought TNA at $56.50, and closed today at $61.04, up 8.0%.
Volume for TNA today was below average for the past 24 days.
$RVX (VIX for $RUT) was down 1.6% today with TNA up 1.26%. No divergence.
TNA has now been up 7 of the last 13 days. Chop generally. Drifting higher.
The high for TNA yesterday was $61.44, the highest TNA price since November of 2008.
Ultimate Oscillator for TNA rose from 63 to 68 today on a up day. A reading of 68 is Very Good for TNA.
MACD on the monthly chart crossed over to the upside 5 days ago and is rising. Good for TNA.
Bollinger Bands for $RVX (VIX for $RUT): today’s white candle spiked below the bottom Bollinger line and closed above that line. MACD seems to have topped and is coming down. Looks like $RVX might rise tomorrow. Bad for TNA.
Bollinger Bands for $RUT: Today’s white candle for $RUT has been progressing upward, staying close to but below the top Bollinger Band. It looks like $RUT may be riding the top Bollinger Band higher. MACD may be working back up. Good for TNA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s doji candle closed just below the upper Bollinger Band, after a close four days ago above that band. The upper Bollinger Band is rising. Looks $RUT could keep rising. Good for TNA.
TNA had a higher high, higher low and higher close – Good for TNA.
Money flow for the Total Stock Market was $237 million flowing out of the market on an UP day. Bearish – Bad for TNA.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks good for TNA.
Does the Greek aid package really solve the problem?
Late yesterday, European leaders hammered out a stop-gap arrangement that would see additional funds made available for Greece to help them battle their deficit. Of note is the fact that the lender of last resort is involved, (i.e. the International Monetary Fund). Again, World leaders in their infinite wisdom keep throwing money around like its confetti ad they fail to tackle and address the moral hazard that is plaguing not only Greece, but other European and World Governments.
Bloomberg News’ piece Greek Aid Terms May Be ‘Red Herring’ Amid Recession correctly points out that Greece’s rescue package from the European Union will do little to bolster economic growth even as it staves off the immediate risk of default. In easy terms, it strengthens the analogy I used in an earlier write up I did about the situation. The package is akin to borrowing money from one loan shark to pay off another but does nothing to help stimulate the economy of Greece so that it can actually comfort lenders to the extent that it can pay back some of that choking debt.
Goldman Sachs’ chief European economist Erik Nielson pointed out that “The real issue will be whether Greece can regenerate growth while cutting the fiscal deficit… “Without growth, the debt is only sustainable if someone will finance them at much less than 5 percent”. He felt that this rate would need to be sustained for at least the next decade.
Making this entire mess even worse is the recent economic data out of Greece that suggests that the economy could contract as much as 4 percent this year, the most in more than three decades, (Deutsche Bank AG estimates) as Greece struggles with a very significant recession.
I read a great analogy of the situation while gathering feedback from various news outlets. One analyst pointed out that the group of European nations merely swerved to avoid a crash in Greece. I can not argue with that thinking.
They have made available monies to a country that has difficulty in managing its books, has lied about its actual fiscal situation in the past and has a contracting economy. Does anyone really expect that the situation will end well? I certainly don’t and maintain that the bandage that has been offered is simply that. Once the glue wears off, the bleeding will start again and by that time, the situation will be worse.
Simon Johnson, a former IMF chief economist, said in a Bloomberg Television interview (quoted in the article above) that the plan increases the risk of “moral hazard” in Europe. He added that “This is not fixing the issue…The Greeks could seize the opportunity. You have taken away their incentive to solve the problem.”
It would be nice to get a grade “C” everyday… I'm flunking with “F's”… LOL