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post #124081 of 136697
Quote:
Originally Posted by TooShort View Post

http://www.bloomberg.com/video/76381224/This guy thinks we rally 4th quarter before dropping to a new low 2012.



 he's been known to copy the ESRI so you might as well jsut listen to them. A trend i've been looking at is whenever they make the recession call the market rallys 14-21 percent then falls. 

post #124082 of 136697
Quote:Originally Posted by Davecash77 View Post

 

Stock Market Trend Turn Imminent?

By: Robert McHugh | Sun, Oct 23, 2011
 
 
 
 
Great article on Fib clusters.  Have you ever seen this Fibonacci time cluster?  Counting backwards from the year 2008 using Fibonacci sequence you get this:  
 
 
Courtesy Elliot Wave International
 
 
OCT23FIBONACCI.png

 

And the count is complete with Obama being elected President.  Pretty thought-provoking stuff IMO.
 

 

post #124083 of 136697


Yea really laughing.gif
 

Quote:
Originally Posted by OldFart View Post

So.....the EU finance ministers met today to confirm that they are meeting on wednesday to set another vote date?.....that about sum it up?

I'm glad they don't run the emergency room at the hospital.



 

post #124084 of 136697

Euro gapped down 60 pts on open.  Quite a substantial move. 

post #124085 of 136697

Looks like the pattern is they come with some truthful news on how screwed up everything is and the market starts to sell off then they turnaround and say hmmmmmmmmm we better come up with some BS statement about how their making progress and will have everything under control very soon or something and what gets me is who in the hell is buying and covering with this BS... apparently alot of people when I see the buying and covering volumebiggrin.gif

post #124086 of 136697


Exactly....just like what happened on Friday laughing.gif...release some news just at the "perfect" moment.
 

Quote:
Originally Posted by LilCoonazz View Post

Looks like the pattern is they come with some truthful news on how screwed up everything is and the market starts to sell off then they turnaround and say hmmmmmmmmm we better come up with some BS statement about how their making progress and will have everything under control very soon or something and what gets me is who in the hell is buying and covering with this BS... apparently alot of people when I see the buying and covering volumebiggrin.gif



 

post #124087 of 136697

faz.png2011-10-23-PROPHET.png

post #124088 of 136697

Citi is getting squeezed and is due for a breakout soon on the hourly. FAZ bearish financials is near channel support.

post #124089 of 136697

Berlusconi, under EU pressure, calls urgent cabinet meeting

23 October 2011, 23:27 CET

(BRUSSELS) - Prime Minister Silvio Berlusconi decided Sunday to call an emergency cabinet meeting after EU leaders pressed him to fulfill pledges to cut Italy's huge debt and stop eurozone debt contagion. While insisting that Italy was "absolutely not at risk," Berlusconi said the cabinet would meet Monday to try and plough through reforms, notably in the pensions system. "I wish to take advantage of this situation to see if we can advance measures I was unable to implement up until now due to differences within the majority," he told reporters after a European Union summit.

 

Before the summit, the Italian premier held one-on-one talks with EU president Herman Van Rompuy and another meeting with German Chancellor Angela Merkel and French President Nicolas Sarkozy. "We have to reassure investors and reassure other states," Van Rompuy told a news conference. "Clearly, we are asking for a major effort on the part of the Italian authorities and I think they are ready to do it." With another EU summit on the eurozone debt crisis scheduled for Wednesday, Van Rompuy said leaders would work "hand-in-hand" with Berlusconi in the coming days to make sure Rome "implements what it promised."

 

Merkel called for Italy to act credibly to reduce its colossal 1.9 trillion euro debt, equal to 120 percent of its gross domestic product. The EU's limit under a pact originally drawn up to ensure stability and growth is supposed to be 60 percent. "Italy is a great economic force but Italy also has a very high level of debt and it must be reduced in a credible way over the coming years," she said. "That's what we expect of Italy." Italy emerged as a new source of worry for EU leaders at the summit, dedicated to finding an agreement on saving Greece from financial collapse, recapitalising European banks and boosting the eurozone's rescue fund.

 

Berlusconi, a billionaire media mogul, quipped that he "never flunked (an exam) in my life" as he emerged from the talks with Merkel and Sarkozy. But diplomats said Berlusconi lacks credibility in the eyes of his European Union partners, who are telling him to follow the example of Spain, which is biting the bullet with tough austerity measures. Calling for "more details and timetables" from Italy, Van Rompuy said Rome needed to press ahead with reforms of its labour market, public companies and the fight against tax fraud. Budget cuts adopted by the Italian parliament in July and September aim to bring the country back into balance from 2013 and reduce its debt. But European officials believe Italy has slipped back on its commitments since August, when the European Central Bank moved to support Rome by buying up its debt on the financial markets.

 

The European Commission last week pressed Italy to move on cuts in public spending and structural reforms "as a matter of urgency." The irritation is all the greater given that Europe is battling to protect Italy and Spain, its third and fourth largest economies, against contagion from the debt crisis.

 

Another row haunted Berlusconi at the summit, with France complaining about Rome's over-representation at the European Central Bank. France will be left without a seat on the powerful six-member executive board with the departure of ECB chief and Frenchman Jean-Claude Trichet in November, when Italian central bank governor Mario Draghi takes over. The other Italian on the board, Lorenzo Bini Smaghi, has refused to resign after the Italian leader did not name him to head Italy's central bank.

 

"Sarkozy took me to task because of Lorenzo Bini Smaghi's refusal to resign," Berlusconi said, adding that the banker refused offers to take up important jobs as consolation. Admitting his inability to force Bini Smaghi out, Berlusconi said: "At one point I asked Sarkozy: 'What should I do, kill him?"

 


Edited by Retrofan - 10/23/11 at 6:10pm
post #124090 of 136697
Quote:
Originally Posted by Retrofan View Post

Berlusconi, under EU pressure, calls urgent cabinet meeting

23 October 2011, 23:27 CET

(BRUSSELS) - Prime Minister Silvio Berlusconi decided Sunday to call an emergency cabinet meeting after EU leaders pressed him to fulfill pledges to cut Italy's huge debt and stop eurozone debt contagion. While insisting that Italy was "absolutely not at risk," Berlusconi said the cabinet would meet Monday to try and plough through reforms, notably in the pensions system. "I wish to take advantage of this situation to see if we can advance measures I was unable to implement up until now due to differences within the majority," he told reporters after a European Union summit.

 

Before the summit, the Italian premier held one-on-one talks with EU president Herman Van Rompuy and another meeting with German Chancellor Angela Merkel and French President Nicolas Sarkozy. "We have to reassure investors and reassure other states," Van Rompuy told a news conference. "Clearly, we are asking for a major effort on the part of the Italian authorities and I think they are ready to do it." With another EU summit on the eurozone debt crisis scheduled for Wednesday, Van Rompuy said leaders would work "hand-in-hand" with Berlusconi in the coming days to make sure Rome "implements what it promised."

 

Merkel called for Italy to act credibly to reduce its colossal 1.9 trillion euro debt, equal to 120 percent of its gross domestic product. The EU's limit under a pact originally drawn up to ensure stability and growth is supposed to be 60 percent. "Italy is a great economic force but Italy also has a very high level of debt and it must be reduced in a credible way over the coming years," she said. "That's what we expect of Italy." Italy emerged as a new source of worry for EU leaders at the summit, dedicated to finding an agreement on saving Greece from financial collapse, recapitalising European banks and boosting the eurozone's rescue fund.

 

Berlusconi, a billionaire media mogul, quipped that he "never flunked (an exam) in my life" as he emerged from the talks with Merkel and Sarkozy. But diplomats said Berlusconi lacks credibility in the eyes of his European Union partners, who are telling him to follow the example of Spain, which is biting the bullet with tough austerity measures. Calling for "more details and timetables" from Italy, Van Rompuy said Rome needed to press ahead with reforms of its labour market, public companies and the fight against tax fraud. Budget cuts adopted by the Italian parliament in July and September aim to bring the country back into balance from 2013 and reduce its debt. But European officials believe Italy has slipped back on its commitments since August, when the European Central Bank moved to support Rome by buying up its debt on the financial markets.

 

The European Commission last week pressed Italy to move on cuts in public spending and structural reforms "as a matter of urgency." The irritation is all the greater given that Europe is battling to protect Italy and Spain, its third and fourth largest economies, against contagion from the debt crisis.

 

Another row haunted Berlusconi at the summit, with France complaining about Rome's over-representation at the European Central Bank. France will be left without a seat on the powerful six-member executive board with the departure of ECB chief and Frenchman Jean-Claude Trichet in November, when Italian central bank governor Mario Draghi takes over. The other Italian on the board, Lorenzo Bini Smaghi, has refused to resign after the Italian leader did not name him to head Italy's central bank.

 

"Sarkozy took me to task because of Lorenzo Bini Smaghi's refusal to resign," Berlusconi said, adding that the banker refused offers to take up important jobs as consolation. Admitting his inability to force Bini Smaghi out, Berlusconi said: "At one point I asked Sarkozy: 'What should I do, kill him?"

 


^^^ i interpret as bad how do u interpret this statement as?

 

post #124091 of 136697

Futures up 285 according to FOX  WTF

post #124092 of 136697

Another site says -53

post #124093 of 136697
Quote:
Originally Posted by mxdave View Post

Futures up 285 according to FOX  WTF



S&P futs down 7 dow -51

post #124094 of 136697

 

Quote:
Originally Posted by mxdave View Post

Futures up 285 according to FOX  WTF



i'm showing /es down about 7 handles. /ym down about 50 and /nq down about 11. not looking all that bad (yet). looking forward to morning when cat reports. 7:30am eastern is when we get the #'s. they are looking for $1.55 on eps. that'll be the big mover of the day. thumbup.gif

 

goooooooo cat!

 

cat_logo.jpg

post #124095 of 136697


you believe fox content? LOL

Quote:
Originally Posted by mxdave View Post

Futures up 285 according to FOX  WTF



dam should of kept my short futs from close on fri. i think its going to be nice tomorrow.

post #124096 of 136697

I don`t beleive in anything.laughing.gif   I just found it weird.I thought it was something due to the time difference or the feed I have.Aisa squawk has it right as far as I can tell.

 

Quote:
Originally Posted by mjoke View Post

you believe fox content? LOL

dam should of kept my short futs from close on fri. i think its going to be nice tomorrow.



 

post #124097 of 136697

hey dave, i don't mean to put ya on the spot or anything, but i always like to get your take on the market (even if you're not currently in anything)... i remember before you left off for break you used to put out some thoughts/predictions the night before, and you usually nailed 'em. just curious as to what you are thinking for tomorrow. we both know cat is going to be a big mover and absolutely imperative for the markets tomm. what are you feeling here? a miss/beat/inline? the eu crap won't really come into play until wed. so tomm. can and will be dedicated all to cat, and since we got no econ. reports on the calendar... this is gonna be huge. what do you think? thanks bro! thumbup.gif

post #124098 of 136697

oh stop with the padding of each other jesus christ.. 

 

 

So the ESFS has stated they are TOO SMALL To deal with the growing number of tasks.. and to add more gas to the fire, the US Treasury might introduce a new bond.. LMAO. it would be easier than the EU process but lends credence to uncertainty in the US --- ya such stability.. AND no country is willing to add more funds on a uncertain outcome.  ECB wont back anything at all, and the IMF is the last hope, which will fizzle out eventually. Then what do we have left credit DOWNGRADES.

 

CAT is not going to be imperative to anything in the manner you are pumping it .. when there are other issues which override a single little stock.

 

 

Edit: BTW there is a HS on the ES which its sideways, but its a HS..  and its triple witching this week in Asia.

post #124099 of 136697

I think what you think.If Cat`s numbers are good its up we go.How much I`m not sure.If anything comes out of EU it will overpower any other news.Cat kinda works as a barometer because the thought is if they are making and selling there must be some construction going on or getting set to go on.That would mean jobs,materials etc.My gut says they will beat or at least be in line.

 

Quote:
Originally Posted by bigbear83 View Post

hey dave, i don't mean to put ya on the spot or anything, but i always like to get your take on the market (even if you're not currently in anything)... i remember before you left off for break you used to put out some thoughts/predictions the night before, and you usually nailed 'em. just curious as to what you are thinking for tomorrow. we both know cat is going to be the mover for the entire day. what are you feeling here? a miss/beat/inline? the eu crap won't really come into play until wed. so tomm. can and will be dedicated all to cat. this is gonna be huge. what do you think? thanks bro! thumbup.gif



 

post #124100 of 136697

ok no more CAT .. there is a thread for that.. and detracts from the more important aspects. Thanks.

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