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  Jeff Bailey   1/23/200,  9:20:18 PM
Weekly trade profiles at this Link

 
 
  Jeff Bailey   1/23/200,  9:10:04 PM
Quick QQQ option notes / follow up ... per 15:59:46

QQQ most active options today ....

Feb. $36 puts (QQQNJ) vol= 47,884 ... oi=246,434 ... price h/l $0.30-$0.15

Feb. $38 puts (QQQNL) vol= 43.840 ... oi=247,655 ... price h/l $0.95-$0.65

Mar. $36 puts (QQQOJ) vol= 41,228 ... oi=80,523 ... price h/l $0.70-$0.55

Feb. $38 call (QQQBL) vol = 26,180 ... oi=148,991 ... price h/l $1.10-$0.70

VXN.X closed 21.27 -2.16% with h/l 21.95-21.01

 
 
  Jeff Bailey   1/23/200,  8:54:08 PM
Fantastic discussion on economy that was taking place on Louis Rukeyser (CNBC).

 
 
  Jeff Bailey   1/23/200,  8:37:22 PM
Pivot Matrix for Monday and next week at this Link

Please note: Today's 10-year YIELD ($TNX.X) high/low was also the weekly range, where the low came not only at the WEEKLY MONTHLY S2, but also the 10/01/03 relative low. PnF chart of $TNX.X at this Link

 
 
  Jeff Bailey   1/23/200,  5:43:26 PM
Per Jonathan's 14:40:43 ... I can see Jonathan's case for Treasuries holding a longer-term bid. Should foreign investors sell their euro, convert to dollar, then park it in Treasuries (most likely shorter-dated), maybe mix in some corporates and junk bonds.

However, as correlative as gold's rise has been with the weaker dollar, and some currency watchers saying that that the hedge for the rising euro has been by buying oil and even natural gas as the hedge, I'm more skeptical that gold will suddenly become a benefactor for stronger dollar and weaker euro.

This can all be tested over time with technical analysis of course.

Here's a point and figure chart of August Gold futures. Link where we can monitor for SIMILARITY or DIVERGENCE to October (blue A) trade.

September euro futures. Link where we could begin making January (blue 1) association. I also went back and checked to see what the prior bullish vertical count was on the euro futures chart with the above 0.002-point box size. I calculated 1.296.

If it is true that STOCKS will move prior to a commodity as market participants accurately predict the eventual outcome, then focus might be given to the euro at 1.226, where a trade there would be a spread triple bottom of what seems to be an important level of support at 1.226.

Here's a chart of the AMEX Gold Bugs Index ($HUI.X) Link which is comprised of gold mining STOCKS.

Here is a chart of the September U.S. Dollar futures Link

 
 
  Jeff Bailey   1/23/200,  4:58:01 PM
Closing Internals at this Link

 
 
  Jeff Bailey   1/23/200,  4:14:04 PM
Day trade bear QQQ alert ... close out here at $38.04

 
 
  Jeff Bailey   1/23/200,  4:02:00 PM
QQQ $38.03 -0.29% ... 14-minutes left to go.

 
 
  Jeff Bailey   1/23/200,  4:00:42 PM
Sell Program. Prem. Alert .... DIA 105.80, SPY= 114.40, QQQ = $38.01

 
 
  Jeff Bailey   1/23/200,  3:59:46 PM
NASDAQ-100 Volatility Index (VXN.X) 21.28 -2.11% ... without looking, I'm guessing a $37 put or even a $38 put strike is most active today.

 
 
  Jeff Bailey   1/23/200,  3:53:51 PM
QQQ day trade bearish close alert .... change day trade close out to $37.92.

 
 
  Jeff Bailey   1/23/200,  3:47:41 PM
QQQ $37.95 .... Day trade close alert ... look to close out QQQ bearish trade on decline to $37.81.

Until then... keep stop as profiled. $38.06.

 
 
  Jeff Bailey   1/23/200,  3:41:36 PM
Merck (MRK) $45.74 -0.8% ... day trade close alert close out here.

 
 
  Jeff Bailey   1/23/200,  3:16:24 PM
MRK $45.82 -0.66% ...

ESRX $68.08 -1%

 
 
  Jeff Bailey   1/23/200,  3:15:41 PM
Sell Prog. Prem. Alert ... SPX = 1,137.50 ... QQQ = $37.79 ... INDU = 10,528.

 
 
  Jeff Bailey   1/23/200,  3:13:36 PM
QQQ $37.78 -0.93% ... session lows. nearing RED #5 (37.77).

 
 
  Jeff Bailey   1/23/200,  3:11:53 PM
03:00 Internals at this Link

 
 
  Jeff Bailey   1/23/200,  3:09:11 PM
Sell Prog. Prem. Alert ... SPX = 1,140 ... QQQ = $37.88 ... INDU = 10,551

 
 
  James Brown   1/23/200,  2:58:56 PM
A stock Jeff and I like to track is Trimble Navigation (TRMB), a leader in consumer applications for GPS navigation systems. TRMB has been in a very strong rally and is just now starting to see some profit taking with today's breakdown under the $40 level. Aggressive bears could aim for a move toward the $35 level but it looks like the stock has congestion/possible support in the 36-38 range. Earnings should be Feb. 3rd.

 
 
  Jeff Bailey   1/23/200,  2:58:27 PM
QQQ intra-day chart of Q's. Link

 
 
  Jeff Bailey   1/23/200,  2:54:42 PM
QQQ $37.85 -0.76% ... Challenges lows of the session here. If we see a 5-minute close below this Red #4, QQQ should close lows of the session.

 
 
  Jeff Bailey   1/23/200,  2:52:12 PM
Sell Prog. Prem. Alert ... SPX = 1,140.52 ... QQQ = 37.88... INDU= 10,550.

 
 
  Jeff Bailey   1/23/200,  2:48:38 PM
MRK $45.87 -0.52% ... traded Red #7, then bounced back to RED #5, but couldn't hold a 5-minute close at that level $45.89.

Day trade bear needs a seller to shop up here, get a move back below Red #6.

 
 
  James Brown   1/23/200,  2:47:21 PM
Drug-biotech firm MGI Pharma (MOGN) has seen some strength in its stock price. Shares broke out above the $45 level several days ago and it has been able to maintain those gains with new support at $45. Today the stock is up 4.8% on a strong bounce from its simple 10-dma. Earnings are not til February 9th and MOGN may be able to make a run toward its old highs near $54-55.

 
 
  Jeff Bailey   1/23/200,  2:40:56 PM
Day trade short alert ... QQQ $37.94 here, stop $38.06, target $37.70.

See that "bad tick" at $37.65 from about 15-minutes ago? That right at RED #6 of the QQQ 5-MRT.

Really need a 5-minute bar chart interval close below $37.88 as some confirming that theres a program unwinding to sell the QQQ to $37.66 to the close.

 
 
  Jonathan Levinson   1/23/200,  2:40:43 PM
That sounds good, Jeff, although I'd think that the ECB lowering rates would cause a corollary increase in demand for US bonds, which relatively speaking become more attractive. I agree with your comments on gold, and I'm thinking that the next wave of demand for gold could come from foreign demand as US trading partners begin competitively devaluing their currencies to support exports.

 
 
  Ray Cummins   1/23/200,  2:38:31 PM
Spreads/Combos/Premium Selling -- Market Movers: Energy Sector

Stocks in the oil & gas services segment are powering ahead today, buoyed by a return to profit in the fourth quarter for Schlumberger (NYSE:SLB), and speculation that cold weather across much of the U.S. will draw down domestic natural gas and fuel oil storage levels in coming weeks. One of our recent candidates in the group, Nabors Industries (NYSE:NBR), is among the market leaders, up $1.51 at $45.21 on expectations that persistent high oil and gas prices, together with pressure on producers to increase output, will boost demand for drilling rigs. In addition, analysts say more drilling will likely soak up excess capacity, leading to higher prices and a broad rebound in earnings for the industry. That's great news for oil & gas services stocks and traders can attempt to profit from continued upside activity in the group with a bullish position in the Oil Services Holdrs (OIH) or the PHLX Oil Service Sector (OSX).

 
 
  Jeff Bailey   1/23/200,  2:37:46 PM
Bond/dollar/equity action.

CNBC has been reporting news out of Europe is that ECB might be looking to lower interest rates.

This is what looks to be in play here today with U.S. Treasury selling off, 10-year YIELD higher by 9.2 basis points at 4.061%

Dollar strengthens perhaps on thought that it's time for euro decline, dollar strength as Europe sees the "easy money" trade.

On the outside looking in may well be gold.

 
 
  Jeff Bailey   1/23/200,  2:32:50 PM
MRK $45.81 -0.61% ... session low has been $45.77. Here's updated intra-day chart on 5-minute intervals. Link

 
 
  Jeff Bailey   1/23/200,  2:27:13 PM
MRK $45.79 -0.68.

 
 
  Jeff Bailey   1/23/200,  2:26:31 PM
Sell Prog. Prem. Alert ... SPX = 1,140.10 ... QQQ = $37.90... INDU = 10,547.

 
 
  James Brown   1/23/200,  2:22:52 PM
India-based software firm Infosys Technologies (INFY) is suggesting a potential entry point for bulls willing to buy the bounce. The stock faded from the $101 level back toward the $90 region and actually traded under $90, which should have been support only to find support at its 50-dma. Traders have been buying the dip to the 50-dma in INFY for weeks and today's 2% bounce is tempting.

 
 
  Jeff Bailey   1/23/200,  2:14:23 PM
Merck (MRK) $45.85 -0.58% ... here's intra-day chart with stacked lower 5-MRT (in pink). Link

 
 
  Ray Cummins   1/23/200,  2:03:10 PM
Spreads/Combos/Premium Selling -- Market Movers: United Therapeutics (NASDAQ:UTHR)

A recent candidate in the (bullish) Synthetic Positions portfolio is making headway, despite the broad retreat in the market today. UTHR is up $1.09 at $24.86 on speculation the company's drug Remodulin may soon be approved for marketing in France and other parts of Europe. The stock price hit a high of $25.17 earlier in the session, providing a credit of $0.40 in our speculative play (MAY-$30C/$17.5P) and the issue appears poised for further upside activity in the coming weeks.

 
 
  Jeff Bailey   1/23/200,  2:02:25 PM
Merck (MRK) $45.83 -0.6% ... will follow with intra-day chart and stacked lower 5-MRT. Trading RED #6 here.

Day trade short will lower stop to break-even here.

For most part, I will look to capture gain should INDU trade its WEEKLY S1 of 10,445.43.

 
 
  Ray Cummins   1/23/200,  1:53:53 PM
Spreads/Combos/Premium Selling -- Bear Fodder

On the bright side, a number of our bearish selections in the hi-tech segment are moving lower today including: Fiserve (NASDAQ:FISV), Microchip Technology (NASDAQ:MCHP), Integrated Circuit Systems (NASDAQ:ICST), Intersil (NASDAQ:ISIL), Hutchinson Technology (NASDAQ:HTCH), Novellus (NASDAQ:NVLS) and Power Integration (NASDAQ:POWI).

 
 
  Jeff Bailey   1/23/200,  1:53:19 PM
Dow Industrials (INDU) ... 10,565 -0.54% ... low of session.

MRK $45.90 -0.45% ... matching low of session.

 
 
  Ray Cummins   1/23/200,  1:42:01 PM
Spreads/Combos/Premium Selling -- On the "watch" list: American Pharmaceutical Partners (NASDAQ:APPX)

Another surprise loser in the drug segment is APPX, which has plunged $2.15 to $36.45 in the last hour, extending its two-day slump and bringing the share price within range of the 50-DEMA. There is no (public) reason for the drop but since the stock has a high short interest, it may be that bearish traders are simply trying to leverage the issue into a new downtrend. Our position is bullish at $35, so we will be watching the activity with "bated breath" during the afternoon session.

 
 
  Jeff Bailey   1/23/200,  1:39:29 PM
01:00 Internals at this Link

 
 
  James Brown   1/23/200,  1:37:29 PM
A Dow Jones article is reporting that Toyota's most recent sales data indicates they have surpassed Ford as the No. 2 automaker on the planet. Toyota said 2003 vehicle sales were up 9.9% to 6.78 million compared to Ford's 6.72 million.

The global leader is General Motors who sold more than 8 million vehicles in 2003.

 
 
  Jeff Bailey   1/23/200,  1:36:47 PM
Sell Prog. Prem. Alert ... SPX = 1,142.27 ... QQQ = $37.99 .... INDU = 10,568.

 
 
  Jeff Bailey   1/23/200,  1:29:15 PM
Express Scripts (ESRX) $68.87 +0.07% ...

 
 
  Jeff Bailey   1/23/200,  1:28:49 PM
MRK $45.91 -0.43% (seesion low has been $45.90)

 
 
  Jeff Bailey   1/23/200,  1:28:02 PM
Sell Prog. Prem. Alert ... SPX = 1,142.34 ... QQQ = $37.95... INDU = 10,570

 
 
  Ray Cummins   1/23/200,  1:22:31 PM
Spreads/Combos/Premium Selling -- On the "watch" list: Lam Research (NASDAQ:LRCX)

Another lackluster day among technology issues as the morning rally succumbs to profit-taking. Early leaders included storage, internet, networking, software, and semiconductor shares, however the buying interest in those groups is starting to fade and the downdraft has enveloped a few of our bullish positions. One issue in that category is LRCX, which is down $2.56 at $29.46, well below its 50-DEMA and any recent support areas. Our position is short (put) at $30, thus conservative traders should consider closing the position to preserve capital.

 
 
  Jeff Bailey   1/23/200,  1:20:44 PM
Russell-2000 Index (RUT.X) 592.50 +0.13% only major index to hold a gain.

 
 
  James Brown   1/23/200,  1:17:40 PM
just announced on the tube...Captain Kangaroo has died. Bob Keeshan was 76 years old.

 
 
  Jeff Bailey   1/23/200,  1:16:47 PM
QQQ $38.02 -0.34% ... OK... if you're a BIG bear on the QQQ right now, just begin to observe that QQQ low of $37.88 was quickly snapped up from WEEKLY S1. Right now, a bear may want to consider the POTENTIAL of a bearish trap, where a rally back to about $38.50, may be a neckline of a reverse h/s pattern, where right now, a left shoulder may be found at $38.10.

Just be aware of this at this point, and manage any trade size accordingly.

 
 
  Keene Little   1/23/200,  1:16:39 PM
LOL, very good.

 
 
  James Brown   1/23/200,  1:16:09 PM
Oh, they'll find life. It's intelligent life that may be hard to find.

 
 
  Keene Little   1/23/200,  1:15:13 PM
James, do you think NASA could send one of their rovers over to Wall Street and see if they can find any signs of life in this market?

 
 
  James Brown   1/23/200,  1:11:21 PM
Just an FYI for the technology/space fans out there. The AP wires are reporting that the Mars orbiter has found evidence of water.

 
 
  James Brown   1/23/200,  1:08:04 PM
I'm still watching shares of Borg Warner (BWA). The stock has taken its normally strong up trend and ramped it into a non-stop bear thrashing sprint. It is quickly approaching the $100 mark and we might expect to see some profit taking around such a psychological number but that's just a maybe.

Coincidentally, BWA is only trading at 12 times its future earnings and has a 15% growth rate. Unfortunately, BWA does not have any sort of split history but odds are growing, with its share price, that management is probably considering it. Earnings are early February.

 
 
  Jeff Bailey   1/23/200,  1:07:25 PM
Merck (MRK) swing trade bear update alert. Should the INDU break below today's low and trade 10,565, I'm going to pull my intra-day bearish target on MRK, but keep stop as outlined. Might get a "flush" in MRK, and I will try to manage trade with the following lower of a stop should downside move unfold.

 
 
  Jeff Bailey   1/23/200,  12:59:52 PM
INDU 10,572.66 -0.47% ... session low has been 10,566.22. Just under DAILY S2 of 10,577.01.

Also trading right at its WEEKLY 38.2% retracement level.

 
 
  Jeff Bailey   1/23/200,  12:57:17 PM
2 more Sell Prog. Prem. Alerts were seen at 12:49:00 and 12:52:00.

 
 
  James Brown   1/23/200,  12:57:14 PM
Vitesse Semiconductor (VTSS) might be a low-dollar semiconductor worth watching. The company just announced earnings yesterday. They beat by a penny as revenues soared more than 40% beating revenue estimates. The company guided higher for next quarter as well. The stock is up strongly today (+8.7%) after a strong rebound from its simple 10-dma. Watch to see if it holds the $8.00 level on any profit taking.

 
 
  Jeff Bailey   1/23/200,  12:55:19 PM
QQQ session low $37.95. While this triggers my previously profiled stop, DAILY S1 $37.92 and WEEKLY S1 $37.91 become the focal point of support here.

 
 
  Jeff Bailey   1/23/200,  12:53:20 PM
QQQ $37.95 ... stop alert for QQQ swing trade bull.

 
 
  Jeff Bailey   1/23/200,  12:46:15 PM
Hmmm... just doing some estimating ....

Punched in a WEEKLY high/low/close for QQQ of 39.00/37.97/38.00 and get WEEKLY levels of $37.29, 37.65, 38.32, 38.68, 39.35.

 
 
  Jeff Bailey   1/23/200,  12:42:00 PM
March Palladium futures (pa04h) 245.00 -3.67% ... after trading contract highs of $255.00 yesterday, taking a rest today.

SWC Link $11.82 -7.81% and PAL Link $9.05 -3.72% also taking a breather.

 
 
  Jeff Bailey   1/23/200,  12:34:57 PM
Sell Prog. Prem. Alert ... SPX = 1,142.98 ... QQQ = $38.00

 
 
  Jeff Bailey   1/23/200,  12:27:50 PM
QQQ $38.04 -0.28% ... session lows here, testing RED #2.

 
 
  Jeff Bailey   1/23/200,  12:23:44 PM
Day trade short ... Merck (MRK) $45.97 here, stop $46.06, target $45.83.

Test the water with something I don't think a bear would get crushed in.

INDU 10,585 -0.35% below its DAILY S1 of 10,600 by more than 10 points.

 
 
  Jeff Bailey   1/23/200,  12:21:54 PM
Sell Prog. Prem. Alert ... SPX = 1,144.92 ... QQQ = $38.13

 
 
  Jeff Bailey   1/23/200,  12:20:05 PM
Per Jim's 12:01:06 It might be Jim. Doesn't it seem like alternating days, where traders move from NASDAQ to NYSE. Almost like the market is fine tuning things?

As if saying... "ok, I've got this bit of information, so I need to make adjustments here. Oh... there's another piece of information there.... squeek, rivot, pry... and fine tune that."

 
 
  Jeff Bailey   1/23/200,  12:15:39 PM
QQQ $38.17 .... back at RED #1. Waffled around WEEKLY Pivot earlier, but DAILY Pivot of $38.30 has started to show some resistance since falling back below at 10:50 AM EST.

 
 
  Jane Fox   1/23/200,  12:15:19 PM
Jeff My sentiments exactly. You could not convince me to trade the futures in this lackadaisical market.

 
 
  Jeff Bailey   1/23/200,  12:13:34 PM
Express Scripts (ESRX) $68.86 +0.05% ... now back to unchanged levels.

Just sense no conviction by bulls or bears today. Not just ESRX, but major indices, other stocks.

I look at a stock to short, but feel it could easily rally. I look for a stock to trade long, it looks like it would easily pull back.

 
 
  Jeff Bailey   1/23/200,  12:08:26 PM
12:00 Internals at this Link

 
 
  Jim Brown   1/23/200,  12:01:06 PM
Jeff, that was an excellent technical explanation of a market at the end of an earnings run.

 
 
  Jeff Bailey   1/23/200,  11:54:56 AM
No Umph! ... It just doesn't feel like there's a lot of gas in the tank right now.

 
 
  Jonathan Levinson   1/23/200,  11:43:50 AM
The put to call ratio has jumped clear to .98, a potentially bullish sign on this secondary indicator. VXO up to 15.04, and someone's just gone shopping for more puts, paying extra for them.

 
 
  Jane Fox   1/23/200,  11:38:02 AM
I just read some interesting research done by Dan Sullivan on this overbought market. The current market has gone 212 days without a 5% correction. In the last sixty years this has only happened 12 times and each of those times the move lasts for an average of 313 days. And the surprising part is that the last time the market was able to attain this feat was not in 1999-2000 but May 1995 to July 1996, 404 days without a 5% correction.

 
 
  Jeff Bailey   1/23/200,  11:16:16 AM
QQQ $38.30 ... here's quick look at 10-minute interval chart of QQQ, with 5-MRT retracement levels. Link

 
 
  Jim Brown   1/23/200,  11:11:46 AM
John Snow just made some comments about the need for a strong GSE program. Looks like he is trying to head off some of the investigation into FNM/FRE. FNM had record earnings for last quarter. FRE is selling $8 billion in notes next week. Wish I could sell a few.

 
 
  Jeff Bailey   1/23/200,  11:05:26 AM
Sell Program Prem. Alert SPX = 1,146 ... QQQ = $38.23

I report this about 3-minutes late as I didn't get alert re-set prior.

 
 
  Jeff Bailey   1/23/200,  10:51:46 AM
Sell Prog. Prem. Alert ... SPX = 1,147.35 ... QQQ = $38.30.

 
 
  Jonathan Levinson   1/23/200,  10:39:24 AM
The put to call ratio is up to .58, still very low, but the VXO is declining here, down 1.4% at 14.80. Bonds are holding their gains, gold its losses.

 
 
  Jeff Bailey   1/23/200,  10:29:29 AM
10:00 Internals at this Link

Yesterday's internals at this Link

 
 
  Jeff Bailey   1/23/200,  10:22:54 AM
Express Scripts (ESRX) $$69.50 +0.97% .... look at that intra-day move from morning low of $68.31. Taking out yesterday's highs here.

 
 
  Jeff Bailey   1/23/200,  10:21:04 AM
QQQ $38.35 .... just off session high of $38.39.

Q's should trade $38.51 from here.

 
 
  Jeff Bailey   1/23/200,  10:19:29 AM
Per Jim's 10:07:11 Futures monitor post.

I did not get a buy program premium alert. While Jim sees sudden buying, the lack of buy program premium alert suggests more combination buying of futures/cash, where the arbitrage, which generates the premium alerts, is not created.

Again... I don't normally monitory the buy/sell program premium alerts EVERY day, but I do when I feel/observe the major indices may be at key levels of support/resistance.

 
 
  Jeff Bailey   1/23/200,  10:07:33 AM
SPX 1,148.74 ... back to test its WEEKLY R1. Prior sell program drove SPX to 1145.72

 
 
  Jeff Bailey   1/23/200,  10:07:05 AM
QQQ $38.27 ... back to test its WEEKLY Pivot. Prior sell program drove QQQ to session low of $38.05.

 
 
  Jim Brown   1/23/200,  10:05:34 AM
ARBA being acquired by FMKT

 
 
  Jeff Bailey   1/23/200,  10:03:06 AM
NASDAQ-100 Heatmap at this Link

Strength/weakness components.

CPWR Link

DISH Link

MCHP Link

JDSU Link

 
 
  Jonathan Levinson   1/23/200,  10:00:06 AM
The Fed has just announced a weekend repo of 2.75B against 8.5B in repos expiring from yesterday, for a net drain of 5.75B. In light of the 19.5B drained yesterday with barely any effect whatsoever, we'll take this news with a grain of salt.

 
 
  Jeff Bailey   1/23/200,  9:58:53 AM
MSFT $28.50 +1.74% ... just off session high of $28.62.

 
 
  Jeff Bailey   1/23/200,  9:56:27 AM
Sell Program .... quick intra-day view shows that sell program was probably initiated right at SPX 1,148. This is the SPX WEEKLY R1.

OK... that's the resistance point early isn't it?

QQQ observation shows QQQ was also trading its WEEKLY Pivot just prior to sell program premium being generated.

 
 
  Jeff Bailey   1/23/200,  9:53:32 AM
Sell Prog. Prem. Alert ... SPX = 1,145.90 ... QQQ = $38.15

 
 
  Jeff Bailey   1/23/200,  9:52:50 AM
NYSE Composite ($NYA.X) 6,656.93 (unch) ... has been very tight early range on this broad average.

For QQQ bullish swing trader, I really want to see strength in NYA.X for continued sign of broader strength and some leadership.

 
 
  Jeff Bailey   1/23/200,  9:47:43 AM
QQQ $38.26 +0.31% .... session high has now been $38.30, which is our DAILY Pivot.

The biggest hurdle for bulls today, in my opinion, is going to be $38.50-$38.54 area on the QQQ. This would be DAILY R1 and the downward trend shown in 21:58:08 Market Monitor post below.

 
 
  Jeff Bailey   1/23/200,  9:43:36 AM
QQQ $38.27 +0.36% .... trying to reclaim WEEKLY Pivot here.

 
 
  Jeff Bailey   1/23/200,  9:41:53 AM
Sector action mixed to higher. Oil Service (OSX.X) 100.81 +1.95% is only sector showing >1% gain at this point. Airline Index ($XAL.X) 6.25 -1.22% only sector <1%.

 
 
  Jeff Bailey   1/23/200,  9:39:38 AM
QQQ ... $38.19 ... low/high so far has been $38.13-$38.24.

 
 
  Jeff Bailey   1/23/200,  9:37:19 AM
Here's how last year's 5-worst Dow components have performed so far this year. Link

See P/L % column.

 
 
  Jeff Bailey   1/23/200,  9:28:52 AM
Some strength from the bottom .... As noted in this morning's 09:00 AM EST Update, both Eastman Kodak (NYSE:EK) Link and Johnson & Johnson (NYSE:JNJ) Link gave PnF buy signals in yesterday's session.

Both stock were 2 of the 5 worst performing Dow components in 2003. Link

 
 
  Jeff Bailey   1/23/200,  9:19:30 AM
09:00 Update at this Link

 
 
  Jim Brown   1/23/200,  9:17:03 AM
Linda is still out with a family illness.

 
 
  Jane Fox   1/23/200,  9:12:32 AM
In the first firm sign of corruption involving U.S.-funded projects in Iraq, Halliburton (HAL) has told the Pentagon that two employees took kickbacks valued at up to $6 million in return for awarding a Kuwaiti-based company with lucrative work supplying U.S. troops in Iraq. This discovery could expose the company to hefty fines and other punishments such as potential fraud charges. HAL will be required to reimburse the money and has fired the two employees, who were based in Kuwait and whose names were not disclosed. Halliburton said it could not discuss specifics of the matter because of a Pentagon review.

 
 
  Jeff Bailey   1/23/200,  8:40:41 AM
QQQ $38.16 ...

 
 
  Jonathan Levinson   1/23/200,  8:36:23 AM
No major data due this morning, and I'm watching the futures drift back to unchanged territory.

 
 
  Jeff Bailey   1/22/200,  11:56:14 PM
e-mini NASDAQ-100 futures (nq04h) settled 1,534.50 on Thursday. Opened 1,527.00, traded a low of 1,523.50 and trade 1,531.50 here.

 
 
  Jeff Bailey   1/22/200,  11:53:04 PM
E-mini S&P futures (es04h) 1,143.00

 
 
  Jeff Bailey   1/22/200,  10:21:09 PM
MSFT last trade in after-hours... $27.80. Here's a chart of MSFT with conventional retracement I've had in place for just over a year. Link

 
 
  Jeff Bailey   1/22/200,  10:00:22 PM
Pivot Matrix for Friday at this Link

 
 
  Jeff Bailey   1/22/200,  9:58:08 PM
QQQ last tick in after-hours was .... $37.95. Here's an intra-day chart I worked up for tomorrow (Friday). Link

Here is the QQQ chart (intra-day) from 01/09/04, where tonight, I have same "feeling" of what traders might be alert to tomorrow. Link

Again... history is no guarantee of the future, but something to test against tomorrow. I'm concentrating more on the day's trade. Not the trap, etc.

It is very weird isn't it? I still remember S&P future trading 4-points lower on the non-farm payroll data. Tonight, S&P future open 4-points lower on the MSFT earnings.

The QQQ opened at DAILY R1, now tomorrow (Friday) it looks like the Q's are going to open at DAILY S1.

Believe it or not... I actually look forward to tomorrow's open, and first 30-minutes of trade to see what happens.

 
 
  OI Technical Staff   1/22/200,  9:07:57 PM
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