Portugal Pressed for Pre-Election Cuts to Win Aid Package
Russian Gas Beckons for Germany as Merkel Turns From Nuclear
NY Fed Says Swaps Industry Failed to Meet Clearing Promises
Fighting to Shut Out the Real India
Unpaid Interns, Complicit Colleges
The traveling German carpenters
Government stays open
ReplyDelete'Historic' deal to cut nearly $39 billion in spending
Rally on Monday
@Emmanuel 117
ReplyDeleteAfter this week's articles, you still come up with some beauties, thanks.
In addition to Germany/western Europe's energy woes, there may be a war over the pipeline. It's my understanding the final path isn't determined because of historic animosity and shutoffs. I'll need to stay tuned for that one.
Again, thanks!
@Thor
ReplyDeleteIt's hard to believe that 30B is rally material when we need a whole lot more than that cut, and also those are future cuts, and won't matter to today's expenses.
I'm still in the popup on open, declining day. If we're up at the end of the day, I would be looking for a TurnAround Tuesday.
But I'd only bet a nickel.
@Dss:
ReplyDeleteYour link yesterday is excellent. I'd like to ask a question:
From
http://www.mypivots.com/dictionary/definition/34/bear-hook it says:
"A Bear Hook occurs when you have an NR with the Open less than the previous bar's Low AND the Close greater than the previous bar's Close.", and at
http://www.mypivots.com/dictionary/definition/133/narrow-range-nr
it says:
"If a price bar's Range is less than the previous bar's range it is said to have an NR."
So I'm stuck. How can it be a NR, when the open is lower than the previous day's low? Seems to me if the open is lower than the previous day's low, it falls outside NR.
Please help me understand what I'm missing. Thanks!
Personally, after maybe an initial a.m., pop, I think the market yawns at the budget deal as nobody was likely thinking they wouldn't get a deal done. But what do I know?
ReplyDelete@Thor: you mentioned yesterday that things were going well in Egypt. Well, it looks like that's not the case anymore with soldiers apparently attacking protesters.
ReplyDeleteManny - I read that, don't think it means Egypt is about to implode, the military is using force to clear Tahrir square, not turning on the people. I just think now'a the time for the next leg down, don't think this is 2008 again. At least not yet.
ReplyDeleteJust heard a piece on the radio that lower end homes in LA are starting to sell for above asking again, first time in about 5 years.
Just don't think I mean, sorry, on my iPhone :-)
ReplyDelete@Emmy,
ReplyDeleteI don't agree with the author of "Fighting to Shut Out The Real India". Globalisation has done wonders for the income and financial situation of an average Indian. It's nothing new that most people have their own water and power generation, send their kids to private schools(as govt. schools are lack proper funding) etc. Go visit the Norther states of Punjab, Haryana, Gujrat etc where farmers are the new rich. In my ancestral state, min price for farm land is 1.5 million rupees and at some places its going for 20-25 million rupees/acre. Bubble in real-estate! I thought China, and Hong Kong r/e was a bubble.
ICan
Mutual Fund industry - new way to fleece sheeple in India.
ReplyDeletehttp://www.tribuneindia.com/2011/20110410/biz.htm
ICan
From NYTimes's Op-Ed -"In Yemen, hardly a revolution". Thugs are unlikely to fold under pressure. And the thugs they are:
ReplyDelete"Qaddafi forces reach gates of a key city held by the rebels".
"2 protesters were killed in Cairo's Tahrir square".
"Syrian forces open fire on demonstrators in two cities".
"Gbagbo loyalists regain ground in Ivory Coast".
Thanks Emmie.
ReplyDelete"GODOLLO, Hungary, April 9 (Xinhua) -- The European Union's top economic official on Saturday ruled out the possibility of restructuring Greece's debt."
Ah. Based on the timing of similar EU's statements since the dominoes game began, I can assume the haircut is coming in the 2/3 weeks.
Manny, I think I've just turned uber bearish too..
Note that I'm only half joking here.
ReplyDelete@Wolfstreet
ReplyDeleteWhich half?
Last Wednesday, I made a flip comment about the 43 million households on foodstamps.
ReplyDeleteYou know what they say, once said, can't be unsaid. But I'm sorry I said that. I should have said we need to find a better way out for 43 million households.
Rock and his wife were down and out, lost my scholarship due to an injury, and my work and my wife's work wasn't paying tuition and living expenses. We were at each others' throats, constantly. We kept the heat off (living upstairs wasn't too bad, since heat rises in old buildings). When we went to planned parenthood, the lady said "why aren't you guys getting food stamps?"
It was manna from heaven. We could make ends meet. Tuition got paid. We turned the heat back on. I remember when we bought a roast beef and had our two closest friends over. We fell in love again.
I guess that's why I don't mind paying double tax now. I may gripe, but I will continue to throw out that form. Again, another battle with the accountant, just got finished a few minutes ago. (I guess during tax season, they work 24/7).
We need to find a better solution for 43 million households. We need to get the word to those guys in Washington cutting 30 billion that that's just not gonna do the trick.
Rock - what a beautiful story! Agree. Cutting 30 billion dollars from the folks that need it the most, while at the same time lowering taxes on the people who need it the least is a moral travesty.
ReplyDeleteWe wil pay for this as a nation, and with the way things keep going in DC I feel one day it will be paved in blood. I know there are many people who don't think that could ever happen in this country, all I can say to that is one word - Egypt.
And we are a far more violent people than the Egyptians.
Thor,
ReplyDeleteAnd we have a lot more guns and ammo.
That 60 minutes segment about the bank fraud and robo signers costing tens of thousands of people their homes was appalling.
The media and the banks involved would have you believe that everyone who lost their home to foreclosure were flippers, crooks, or lived beyond their means, but the massive fraud perpetuated by the banksters is almost too much to bear.
Rock,
ReplyDeleteNot sure if I understand your question exactly, but a NR day does not mean an inside day. Just has to be a narrower range than the day before. The open and close do not matter when defining an NR day, just the bar range.
At any rate, bear hooks are pretty rare because the conditions are so stringent.
I think I found one, in the COMPQX, on October 10, 2008!
ReplyDeleteHis research was done on futures which might exhibit that pattern more than equities.
@Rock(11:59),
ReplyDeleteGreat story! Majority of western people have great ethics, that's what make western countries safehavens, even for dictators. Wonder why Russians and Middle Easterns love London!
As for 43 million households - jobs have to come back to the U.S. Stop this globalisation b.s. Whatever happened to "Made in U.S.A."?
ICan
ICan - good point.
ReplyDeleteAndy T - I figured the above chart was an Andy Worhal Painting....
ReplyDeleteNah, I thought it showed the how the currencies match up, but you are correct, it is better to ask then assume, cuz now I am not to sure.
So this weekend I was watching a show called "World's Dumbest" on TV. on the show they have video clips of people doing.... well dumb things.
They had a clip about someone from "Tyler" Texas, when I heard TX I thought of you and wondered if that town was anywhere near you.
It was a slllooooowwww, lonnnnngggg and painful weekend (Son's 13 th Born day party) so I do not remember what the clip was about.
Anyway, I hope all is well for you.
Mangy Mutt
Mutt,
ReplyDeleteI thought it might be a Kandinsky, myself. All those pretty colors and lines.