DaddyJohn
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dc2000
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Hi DJ
are you sure you have monday as buy monday was SS tuesday was buy in down trend
anyway on weekly we are SS week and monthly we are in sell month up to 9thDec
dc2000
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DaddyJohn
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apologies .. my senior moment -- yes tuesday was the buy day ---
There may be some mileage in this ECB/IMF rumour. I just read an interview of Citibanks Buiter by Bloomies, and reposted by Larry Levin:
An interesting interview of one of ****ibank’s analysts, Willem Buiter by Bloomberg, we learn that the banker believes defaults by major European countries may be days away…as well as other wonderful tidbits.
Buiter on Europe's crisis:
"Time is running out fast. I think we have maybe a few months -- it could be weeks, it could be days -- before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it. So they have to act now."
"The only two guns in town, one is only theoretical, and that is increasing the size of the EFSF to 3 trillion. It should happen but it can't for political reasons. The other one, the only remaining share is the ECB. They may have to hold their noses while they do it, and if they don't do it, it's the end of the euro zone."
On why the ECB hasn't acted yet:
"Because after the error of the Bundesbank, they consider central banks purchasing sovereign debt outright to be like swearing in church. It's just not done. This has been in fact to a certain extent embedded in the treaty which forbids the ECB from lending directly to governments or buying stuff in the primary market. But there is no restriction at all on them buying any amount of sovereign debt at any time in the secondary market, so they can do it."
"This crisis is the result of the failure to provide the minimal institutional underpinning for a monetary union in the euro area and also a result of the ECB unfortunately being the heir of the Bundesbank and therefore not understanding and rejecting the role of central bank as lenders' last resort to sovereigns. They certainly are a central bank. They just are a central bank that prefers to fight with both hands behind their back. If they just let go of one hand, that would be enough."
An interesting interview of one of ****ibank’s analysts, Willem Buiter by Bloomberg, we learn that the banker believes defaults by major European countries may be days away…as well as other wonderful tidbits.
Buiter on Europe's crisis:
"Time is running out fast. I think we have maybe a few months -- it could be weeks, it could be days -- before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it. So they have to act now."
"The only two guns in town, one is only theoretical, and that is increasing the size of the EFSF to 3 trillion. It should happen but it can't for political reasons. The other one, the only remaining share is the ECB. They may have to hold their noses while they do it, and if they don't do it, it's the end of the euro zone."
On why the ECB hasn't acted yet:
"Because after the error of the Bundesbank, they consider central banks purchasing sovereign debt outright to be like swearing in church. It's just not done. This has been in fact to a certain extent embedded in the treaty which forbids the ECB from lending directly to governments or buying stuff in the primary market. But there is no restriction at all on them buying any amount of sovereign debt at any time in the secondary market, so they can do it."
"This crisis is the result of the failure to provide the minimal institutional underpinning for a monetary union in the euro area and also a result of the ECB unfortunately being the heir of the Bundesbank and therefore not understanding and rejecting the role of central bank as lenders' last resort to sovereigns. They certainly are a central bank. They just are a central bank that prefers to fight with both hands behind their back. If they just let go of one hand, that would be enough."
DaddyJohn
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John
There are similarities with 2008, but I was thinking we were more likely due a Flash Crash 2011 if there is a surprise default from Italy or Spain. I am trying to upload the recording I have from the Flash Crash in May 2010, but its 8 megs and too much for T2W. I managed to find the audio on YouTube. If you have never heard this, you mustn't miss this commentary. It would be funny if it didn't involve real money and real consequences on people's lives.
S&P 500 Futures Pit on May 6, 2010 (Flash Crash) - YouTube
dan1986ccfc
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Interesting stuff.
Have been looking through the charts for that day and was surprised to find the FTSE didn't do the same?😕
No we was lucky the cash market had closed. Look and the FTSE futures chart.
Wish i had 75000 Emini's to sell😆
DaddyJohn
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That's what I was thinking DC... I must admit it went further than I was expecting today by about 25 pts...
As you say would be nice to get a pull up and then another leg down.
DaddyJohn
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I haven't posted these for a while now because I wasn't sure if anyone was getting any value from the information.. but will start again in case someone is..
my levels to watch today... based on current ranges
5547 / 5540
5500 - previous high
5443/50 top of yesterdays value area
5385
5352 / 59 bottom yesterdays value area
5337.5 - yesterdays low
5276 / 84 -- possible lows for the day...
please treat them with care.. they are based on statistical averages ...
my levels to watch today... based on current ranges
5547 / 5540
5500 - previous high
5443/50 top of yesterdays value area
5385
5352 / 59 bottom yesterdays value area
5337.5 - yesterdays low
5276 / 84 -- possible lows for the day...
please treat them with care.. they are based on statistical averages ...
