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  Jeff Bailey   3/17/200,  10:18:01 PM
QQQ Option Chain sorted by OI, where I've placed PINK numbers by the 10-most actively traded today. Link

Serves more as a benchmark, but I'm already guessing a "Max Pain" of $34 for next quarterly expiration (BLUE arrows).

3rd most active today was May $37 call, 4th was Sep $36 puts (two quarter's out), 7th Apr $35 call.

 
 
  Jeff Bailey   3/17/200,  6:40:51 PM
Pivot Matrix for tomorrow at this Link

 
 
  Jeff Bailey   3/17/200,  5:15:49 PM
I'll say it now and test/trade it tomorrow... If the SPX trades above today's high, it' will trade 1,130-1,132.

Take a retracement from Monday's low, then fit a 50% retracement at 1,125.00. Now look at a 5-minute, or even a 60-minute bar chart. Doesn't that 1,111.63 level look familiar? Where's my March e-mini S&P futures (es04h) chart at, with fitted retracement....

 
 
  Jeff Bailey   3/17/200,  4:51:48 PM
Closing Internals at this Link

 
 
  Jeff Bailey   3/17/200,  4:09:33 PM
Bullish swing trade close out alert for the QQQ here at $35.51

 
 
  Jeff Bailey   3/17/200,  4:06:45 PM
S&P 500 Index (SPX.X) 1,123.78 +1.17% ... is the close. Session high was 1,125.76.

 
 
  Jeff Bailey   3/17/200,  4:05:29 PM
Pivot Matrix ... I quickly calculated tomorrow's NASDAQ-100 (NDX.X) daily pivots and see correlative resistance at DAILY R2 of 1,440.40, which is correlative with its WEEKLY Pivot of 1,438.

This might translate to QQQ WEEKLY Pivot of $35.71, where my swing trade bullish target was $35.70.

As such, from bullish entry of $35.03, I don't think it worth the risk to hold overnight, if resistance might be found at $35.71.

 
 
  Jeff Bailey   3/17/200,  3:58:03 PM
QQQ April $36/$35 puts not the most active. April $36's turning 72,206 contracts, where open interest just 159,595.

 
 
  Jeff Bailey   3/17/200,  3:48:52 PM
Buy/Sell Prog. Premium Al_rts ... Other than just after the open, I don't show any buy/sell program premium levels traded today.

 
 
  Jeff Bailey   3/17/200,  3:46:14 PM
NASDAQ-100 Volatility Index (VXN.X) 24.50 -10.38% ...

 
 
  Jeff Bailey   3/17/200,  3:43:59 PM
Raise Swing Trade Bullish stop alert ... QQQ $35.60 +1.85% ... Raise swing trade bullish stop to $35.48.

If bullish target of $35.70 is not achieved by the close, I will want to CLOSE THIS TRADE OUT, as I wouldn't want to risk some type of option-related gap lower.

 
 
  James Brown   3/17/200,  3:42:33 PM
Consistent support - shares of FMC Corp (FMC) have bounced from its 40-dma/50-dma levels consistently over the last several months. The recent pull back is giving traders another chance to buy the dip to this technical support.

 
 
  Jeff Bailey   3/17/200,  3:39:50 PM
QQQ $35.58 +1.80% ... session highs

 
 
  James Brown   3/17/200,  3:37:58 PM
This might also be an aggressive bullish entry point on BWA. The stock broke down through support at $90 several days ago but shares found support near the $85 level and now they're bouncing back above its simple 10-dma.

 
 
  James Brown   3/17/200,  3:34:12 PM
It would be an aggressive trade considering the overhead resistance but this might be a bottom in shares of Precision Castparts (PCP). Short-term technicals are already turning into bullish buy signals and its MACD might follow suit shortly.

 
 
  James Brown   3/17/200,  3:24:21 PM
A quick look at William Sonoma Inc's (WSM) daily chart will show that the stock has been consolidating lower over the past five months. However, the weekly chart shows what appears to be a wide, rising channel. WSM has found support at its simple 200-dma at least three times in the past six weeks and suggests it may have found a bottom. I'd look for a move over the $34.00 level as a bullish trigger for a longer-term play.

 
 
  Jeff Bailey   3/17/200,  3:23:52 PM
S&P 500 Index (SPX.X) 1,125.00 +1.28% .... Max Pain

 
 
  James Brown   3/17/200,  3:18:15 PM
Another buy the dip opportunity... Telephone Data Sys (TDS). TDS held up pretty well during last week's sell-off and only started to sink on Monday this week. The profit taking stopped at the $70 level of support, which coincides with its 50-dma. Looks like a good candidate for a bounce back to $74.50-75.00.

 
 
  James Brown   3/17/200,  3:13:28 PM
Another buy the dip opportunity... Omnicare (OCR) has pulled back to its rising simple 50-dma. Shares have bounced there multiple times in the past several months. I will note that the bounce looks a little anemic. Look for some confirmation.

 
 
  James Brown   3/17/200,  3:11:33 PM
Hitting new all-time highs is Smith Intl Inc (SII) an oil service stock. Shares are breaking out past resistance at $52.50.

 
 
  James Brown   3/17/200,  3:08:34 PM
quick observation...CBH is painting a bearish engulfing candlestick at the top of its recent run up. Looks like a short-term top.

 
 
  Jeff Bailey   3/17/200,  3:06:35 PM
03:00 Internals at this Link

 
 
  James Brown   3/17/200,  3:05:35 PM
Broker-dealer's earnings numbers have been very strong (as expected) and we'll hear from MWD tomorrow and GS next week. I would keep an eye on Legg Mason Inc (LM). The stock had pulled back to round-number, psychological and historical price support at $90.00 bolstered by its rising 50-dma. The bounce today looks like a tempting entry point for a run toward the $100 level - assuming it can break past the recent resistance in the 95.00-95.50 range.

 
 
  James Brown   3/17/200,  3:01:32 PM
Could this be a short-term bottom in Valero Energy Corp (VLO)? The stock failed to bounce very high during yesterday's rally but we're seeing some strength today after its test of the simple 40-dma. Its RSI and stochastics look tempting but the stock is fading a bit in the last hour. Shares should have additional support at $55.00 and its 50-dma.

 
 
  James Brown   3/17/200,  2:57:39 PM
This might be a bullish entry point on luxury goods maker Coach Inc (COH). The stock has pulled back to support at $40.00 and beginning to bounce. I would have expected the bounce to be a bit higher and volume looks light so it may fit better on your watch list.

 
 
  James Brown   3/17/200,  2:52:02 PM
Deere & Co (DE) is enjoying the rebound today with a 2.6% gain of its own. The stock is approaching three-month resistance at the $67.50 level and has produced what appears to be an ugly reverse head-and-shoulders pattern. A breakout over $67.50 could lead to a run toward the $75.00 mark (based on the H&S pattern).

 
 
  James Brown   3/17/200,  2:49:27 PM
Phelps Dodge (PD) is up 3.98% and breaking out over short-term resistance at $81.75 despite a drop today in copper futures. We listed PD on the watch list for a move higher from support at $80.00 and its 50-dma. This looks like the beginning of another run toward the $90.00 level.

 
 
  Jeff Bailey   3/17/200,  2:41:14 PM
Raise swing trade bullish stop alert in QQQ $35.50 +1.55% to $35.38 from $35.34.

 
 
  Jeff Bailey   3/17/200,  2:39:06 PM
QQQ $35.50 +1.60% ... just got one of those suspicous "bad ticks" to $34.98. "34.98" doesn't really make sense as to a key punch error, other than to see 35.48 be typed as 34.98. This and notes on buyer of the March $35 puts has traders alert.

 
 
  Jeff Bailey   3/17/200,  2:21:51 PM
QQQ March $35 puts (QQQOI) big buyer of these puts at the offer of $0.10. Now the most active at 40,554 contracts! Here's time/sales where big buyer shows up from 02:18-2:20 ... Link

Probably a large speculator, but if institution ready to dump some Q's, might be front running that trade with a little leverage in these puts.

Believe it or not, it is a little less risky to be trading the underlying Q right now than the options, as you can control risk in the underlying QQQ right now with a nice tight stop.

 
 
  Jeff Bailey   3/17/200,  2:16:06 PM
QQQ $35.51 +1.6% ... Should be getting a shot on CNBC from the floor of the NYSE with floor traders singing "Oh Danny Boy" any minute now.

 
 
  Jeff Bailey   3/17/200,  1:57:09 PM
QQQ $35.42 +1.34% ... "quick" little drop from $35.50. Be alert, what unravelled at the open and unravel just as quickly. Eye on VXN.X 25.13 -8.08%

 
 
  Jim Brown   3/17/200,  1:56:48 PM
SHFL - just anounced a 3:2 split

 
 
  Jeff Bailey   3/17/200,  1:55:00 PM
QQQ Option Volume (01:50 PM) at this Link

 
 
  Jeff Bailey   3/17/200,  1:45:28 PM
NASDAQ-100 Volatility Index (VXN.X) 24.92 -8.85% ....

 
 
  Jeff Bailey   3/17/200,  1:36:59 PM
Swing trade raise bullish stop alert ... QQQ $35.44 +1.42% ... raise stop to $35.34.

 
 
  Jeff Bailey   3/17/200,  1:33:32 PM
Since 10:45 AM EST I've been trying to get this observation out. Link

In last night's Index Trader Wrap we thought there might be some option expiration related activity begin to exert itself, and the above table is a QCharts Option Chain (time capture 10:44 AM EST), which I've sorted by VOLUME. Running neck and neck for most active was the March $35 call and March $36 put, which is really a neutral looking trade as to the QQQ trading in between at $35.34, but a trade unfolding that might just have the QQQ mustering some further gain to approximately $35.70, should the option market maker be trying to inflict some "max pain," where the higher open interest in the March $36 puts is the market maker's target for trying to unwind as much profit as possible. However, from the market maker's perspective, and his/her book, the market maker wouldn't things too bullish, as that would only add further profit to the March $35 calls, which have a little more then 1/2 the open interest of the March $36 puts.

What can begin to influence trade to the bullish side is the combined trade in both the March $35 call and March $36 puts, where as the market maker might be selling these calls to market participants, he may be buying the underlying QQQ, as his selling of the calls may have him OBLIGATED to deliver QQQ $35 by Friday's close. At the same time, the higher trade in the QQQ an influence put SELLING, where here, the option market maker's OBLIGATION to buy $36 may be lessening, if the volume of 18,391 contract (represents 1.83 million shares) is being closed out.

A quick comparison of open interest for the March $36 put (QQQOJ) shows that after yesterday's trade, OI fell to 210,780, compared to Monday's closing open interest of 228,666, giving hint that put holders in this contract used yesterday's trade to close out some contracts, while a slight increase in open interest for the March $35 calls was found from Monday's open interest of 131,144.

 
 
  Jeff Bailey   3/17/200,  1:32:35 PM
01:00 Internals at this Link

 
 
  Jim Brown   3/17/200,  1:10:27 PM
KBH said the next five years would be the best in the companies history. Unfortunately LEN was not as optimistic as analysts had hoped. Thus the cooling in the sector. I think it is a buying opportunity considering the low inventory and low rates.

 
 
  James Brown   3/17/200,  1:10:21 PM
-- Jeff is offline again --

 
 
  James Brown   3/17/200,  1:06:59 PM
The weakness in the homebuilders today is producing some bearish developments in the DJUSHB's technicals. Its MACD is very overbought and is on the brink of producing a sell signal. If you've been considering bullish positions in the group it may payoff to wait a few days to see where it might bottom again.

 
 
  James Brown   3/17/200,  12:41:59 PM
XL Capital (XL) is trading higher with the rebound in the insurance sector but Standard & Poor's has downgraded their outlook from "stable" to "negative".

 
 
  Jim Brown   3/17/200,  12:41:56 PM
Earnings for today

DRI est +0.45
GPN est +0.40
JBL est +0.22
TSA est +1.06
TIBX est +0.03
MLHR est +0.11
KIRK est +0.73

 
 
  Jeff Bailey   3/17/200,  12:40:38 PM
St. Patricks Day!!! Just after last post I made regarding power back on, then I lost my cable connection. Everything back up and running now, but for how long, is anybody's guess.

 
 
  James Brown   3/17/200,  12:36:20 PM
Speaking of books... Books-A-Million Inc (BAMM) announced a 1.6 million share buyback this morning and the stock is up 8.77% on the news to $6.20. The buyback is close to 10% of its outstanding shares.

 
 
  James Brown   3/17/200,  12:34:42 PM
Shares of book publisher Scholastic Corp (SCHL) are down 9.4% on heavy volume after reporting earnings last night that missed by 16 cents.

 
 
  James Brown   3/17/200,  12:31:23 PM
Reuters is reporting that a hotel in Baghdad has been destroyed with several dead in the explosion.

Fox news is reporting it is the Mount Lebanon hotel.

 
 
  James Brown   3/17/200,  12:28:57 PM
...I received a subspace communication from Jeff. Impulse power may be back on but the warp drives are offline (a.k.a. his cable modem is currently not functioning).

 
 
  James Brown   3/17/200,  12:26:56 PM
Bank of America reiterated its "buy" rating on AET this morning and raised its price target from $95 to $102. AET is currently on the OI call list and the stock has surpassed our initial target of $85 and is approaching our profit target of $89.00 where we plan to exit.

 
 
  Ray Cummins   3/17/200,  12:22:30 PM
Spreads/Combos -- E-mail Replies: Option Selection -- Part II

In most cases, short-term positions will be more successful if you sell in- or at-the-money options. With this type of conservative covered-write strategy, you should strive for plays that return a minimum of 2%-3% per month while retaining downside protection of at least 10% of the current stock price. The overall position that is constructed using these guidelines will be a relatively low risk play (regardless of the volatility of the underlying stock) since the levels of protection will be large and there is still the expectation of a reasonable return. For longer-term positions, the goal is to reduce the overall cost of the stock with the income from the sale of near-term options. Investors that participate in this strategy with bullish stocks utilize out-of-the-money calls to reduce the chance of having their short positions exercised (in which case delivery of the underlying issue would be required). The problem with this technique is that when one sells an out-of-money option, the overall position tends to reflect more of the result of the stock price movement and less of the benefits of writing the call. This occurs because the price received for the out-of-the-money call is relatively small, thus the overall position is very susceptible to loss if the underlying stock declines. Keep this fact in mind when choosing issues for long-term portfolio positions: they should be only the highest quality, most fundamentally sound companies. Hope that helps!

 
 
  James Brown   3/17/200,  12:21:51 PM
The strong rebound in the NWX networking index is boosted by a 4% jump in shares of Nortel Networks (NT). This is helping our OI call play in JNPR, which is up 3.27% and back above the $25.00 mark.

 
 
  Jeff Bailey   3/17/200,  12:19:51 PM
I'm giv'n ya all I got captain, but I'm not sure how much more power she's got

Power is back on in beautiful Highland's Ranch, CO. Let's see if it will stay on for more than 10 minutes.

 
 
  James Brown   3/17/200,  12:17:02 PM
Jeff mentioned the positive earnings report for Fedex Corp (FDX) this morning. The company beat by 5 cents and guided higher for the current quarter. The stock is up 5.21% on big volume and the breakout over resistance at $70.00 looks pretty tempting. The next level of overhead resistance is the $75.00 mark.

 
 
  Ray Cummins   3/17/200,  12:12:32 PM
Spreads/Combos -- E-mail Replies: Option Selection - Part I

(condensed) Hello Ray...Also, since you dropped the covered-call listings, my stock portfolio has become a bit a thin, so I have started looking for new shares to buy. I sorted through some of the naked put plays because they offer good option premiums but I don't really know which option to sell. Question: should I be selling April options or further out? My approach is mostly conservative and I like having a few long-term plays with blue-chips or other solid companies. Any ideas where I should be going with this strategy? LR

Hello LR, The primary goal for most option traders is correctly predicting the future movement of the underlying stock or index. However, once the decision to open a position has been made, the average investor will have some difficulty determining which option to buy or sell. To be successful in the long run, you must be able to select favorable option positions based on pricing theory and the time horizon of your play. Using the covered-call strategy as an example, a conservative investor that uses trend and sentiment analysis might sell short-term, deep-in-the-money options on technically favorable stocks. In contrast, an investor that uses fundamental or valuation analysis to make decisions would generally sell 2-3 months of time value with out-of-the-money options, hoping to reduce the overall cost basis of the position while maintaining some upside potential.

 
 
  James Brown   3/17/200,  12:10:31 PM
Interesting news... Crude oil prices traded above $38.00 a barrel for the first time in over a year this morning (currently it's at $37.70/bbl). Yet despite the high cost of fuel AMR Corp (AMR), parent of American Airlines, reported this morning that one of their gauges of overall costs "will drop sharply in the first quarter" (Reuters).

Shares of AMR are up 3.77% but fading from their highs. DAL is up 4.81%. CAL is up 5.6%.

 
 
  James Brown   3/17/200,  11:58:37 AM
The real winner in the Internets today is Yahoo! (YHOO). The stock is up 4.58% to $44.52 after it received two broker upgrades this morning. First Albany raised YHOO from a "neutral" to a "buy" and Smith Barney upped it to a "buy" from a "hold". First Albany has raised their price target to $48 versus Smith Barney's price target of $60.

I might turn bullish on YHOO if it can breakout over the $45 mark and its simple 50-dma still overhead.

 
 
  James Brown   3/17/200,  11:52:59 AM
The rally in the Internets has inspired a 2% rally in shares of EBAY. Short-term technicals like the RSI and Stochastics are starting to look better and yesterday's intraday bounce off its 50-dma may have been a solid entry point for more aggressive players. We're still waiting for the stock to break out over the $70.00 mark again.

 
 
  Ray Cummins   3/17/200,  11:52:20 AM
Spreads/Combos/Premium Selling -- Bullish Stocks

Among the bullish "premium-selling" candidates in our portfolio are: Amylin Pharma (NASDAQ:AMLN), Alexion Pharma (NASDAQ:ALXN), Broadcom (NASDAQ:BRCM), Boston Scientific (NYSE:BSX), Imclone (NASDAQ:IMCL), Millicom Cellular (NASDAQ:MICC), Marvell Technologies (NASDAQ:MRVL), Nabors Industries (NYSE:NBR), and Priceline.com (NASDAQ:PCLN). Some of the "Big-Cap" movers include: Apollo Group (NASDAQ:APOL), Genentech (NYSE:DNA), Express Scripts (NASDAQ:ESRX), Goldman Sachs (NYSE:GS), Martek Biosciences (NASDAQ:MATK), Neurocrine Biosciences (NASDAQ:NBIX), and Vimple Communications (NYSE:VIP).

 
 
  Jane Fox   3/17/200,  11:50:18 AM
May Gold is staying pretty neutral at 403.5

 
 
  James Brown   3/17/200,  11:49:58 AM
Sector update...

Biggest Winners:
INX Internet index: +3.26%
XAL airlines index: +2.63%
OSX oil services: +2.18%
NWX networking index: +2.61%
DDX Disk drives index: +2.10%

Losers:
DJUSHB homebuilders: -2.11%
XAU gold & silver: -1.42%
DRG drug index: -0.29%

 
 
  Jane Fox   3/17/200,  11:48:47 AM
The transport index (TRAN) is up nicely today but will need to clear 2925 before you can say the trend has changed.

 
 
  James Brown   3/17/200,  11:47:13 AM
The rally looks pretty good in the SOX semiconductor index. The SOX is up 2% and back above its simple 10-dma. It would be really bullish to see the SOX close over resistance at the 490 level.

 
 
  Ray Cummins   3/17/200,  11:38:51 AM
Spreads/Combos/Premium Selling -- Rally Mode: OSTK

One of the more popular issues among "premium-sellers" is back in an uptrend today. Shares of OSTK are up $2.22 at $31.21 as "shorts" begin to cover in the wake of the recent sell-off. The issue is also getting some attention as one of the NASDAQ's top gainers, so look for additional buying pressure near the closing bell. Conservative traders who believe the consolidation is over in the near-term might consider a call-debit or put-credit spread at the $25 strike in April. A more speculative approach would be a JUN-$40C/JUN-$25P synthetic position.

 
 
  Jim Brown   3/17/200,  11:37:28 AM
Speech by Chairman Alan Greenspan on Banking Link

 
 
  Jim Brown   3/17/200,  11:35:50 AM
Jonathan is not in the monitor today. He is off today.

 
 
  Jim Brown   3/17/200,  11:34:58 AM
The Greenspan speech comments are hitting the wires and evidently he is staying away from comments on the economy other than to say the recovery is still improving.

 
 
  Jim Brown   3/17/200,  11:33:19 AM
January PPI to be released at 8:30 tomorrow

 
 
  Ray Cummins   3/17/200,  11:29:12 AM
Spreads/Combos/Premium Selling -- SFNT: Early Exit Candidate?

Among the bearish positions in our portfolio, a few issues are showing signs of trend reversal in conjunction with today's rally and one of the most obvious stocks in that group in Safenet (NASDAQ:SFNT). Shares of SFNT have jumped $2.32 to $39.66 and the catalysts for the move include higher 2004 earnings guidance from the company and a brokerage upgrade. Our position is short (call) at $40 but the recent resistance near that price may keep the "bear-call" spread positive through Friday's options expiration. Conservative traders are advised to consider exiting the play on any move above the sold strike price.

 
 
  Jim Brown   3/17/200,  11:23:15 AM
Greenspan will be speaking live in San Diego in about six minutes.

 
 
  Jim Brown   3/17/200,  11:22:29 AM
Jeff, is offline for the moment. The power is out in his area and he has no Internet. This will also delay the intraday updates.

 
 
  Ray Cummins   3/17/200,  11:14:18 AM
Spreads/Combos/Premium Selling -- Technical Break-Out For KMRT?

One of our bullish portfolio issues in the retail department store segment is in "rally mode" today. Kmart Holdings (NASDAQ:KMRT) is trading up $1.33 at $35.15 and the move puts the issue at a new "all-time" high. Earnings are due tomorrow, so that event may affect the stock price in the interim, but traders who agree with a bullish outlook for the issue might consider a short put at the $30 strike in April.

 
 
  Ray Cummins   3/17/200,  11:03:49 AM
Spreads/Combos/Premium Selling -- Homebuilders Slump!

Despite today's broad rally, companies in the residential construction industry are enduring some "sell the news" activity. Two of the leading home builders are recent candidates in our portfolio, KB Home (NYSE:KBH) and Lennar Corp (NYSE:LEN), and both companies reported on Tuesday that quarterly earnings soared with stronger demand and higher prices against a backdrop of low mortgage rates. KBH is down $1.17 at $78.08 but with our sold (short) put at $70, there is a large margin for additional declines. LEN is trading $2.22 lower at $53.79 and since this issue is the underlying for a straddle position, any volatility is to our advantage. Other portfolio positions (all bullish) in the category include Meritage (NYSE:MTH), Beazer Homes (NYSE:BZH) and Ryland Group (NYSE:RYL), thus we will be watching the sector closely in the coming sessions.

 
 
  Jim Brown   3/17/200,  10:31:33 AM
Interesting that after very strong earnings from two builders last night and this morning, all the home builders are trading down substantially this morning. Too much prosperity it appears.

 
 
  Jeff Bailey   3/17/200,  10:29:30 AM
S&P Banks Index (BIX.X) 351.44 +0.64% ... Session high has been 352.02, which was just below MONTHLY Pivot of 352.58. This is only equity-based index in our MONTHLY pivot to even be close to the MONTHLY Pivot, and a good measure for further strength would be BIX.X's ability to move above.

Benchmark SPX = 1,119.89 +0.82%, OEX = 549.67 +0.76%, INDU = 10,270 +0.83%, QQQ = $35.42 +1.43%.

 
 
  Jeff Bailey   3/17/200,  10:22:12 AM
10:00 Internals at this Link

Yesterday's Internals at this Link

 
 
  Jim Brown   3/17/200,  10:12:26 AM
MSFT and INTC have rebounded to their resistance levels from the last week but showing no indications of a breakout. The CSCO news has pushed them above their recent resistance to $23.40 but there is a lot of higher resistance.

Dell is moving higher but the overhead resistance is huge. All the moving averages, 30, 50, 100, 200, etc have converged to one price at 33.75. Going to be tough to break that.

 
 
  Jeff Bailey   3/17/200,  10:12:19 AM
QQQ March $38 puts (QQQOL) $2.55 x $2.60 ... now the most active contract 15,911 (OI 90,376) ... you don't think... no.. couldn't be.

 
 
  Jeff Bailey   3/17/200,  10:10:23 AM
NASDAQ-100 Volatility Index (VXN.X) 26.37 -3.54% ... session lows.

 
 
  Jeff Bailey   3/17/200,  10:09:43 AM
QQQ $35.42 +1.28% ... Luck'o the Irish? Session highs here.

 
 
  Jeff Bailey   3/17/200,  10:06:25 AM
Fedex Corp. (FDX) $71.05 +3.81% Link ... reported quarterly EPS of $0.71, which was 5-cents better than consensus estimates.

Expeditors Intl. (EXPD) $37.06 +2.12% Link

UPS (UPS) $68.54 +0.69% Link

 
 
  Jeff Bailey   3/17/200,  9:58:49 AM
Dow Jones Home Construction (DJUSHB) 667.63 -1.34% ... sector loser.

Lennar (LEN) $54.00 -3.58% ... reported quarterly earnings this morning of $0.84, which was a penny better than consensus.

 
 
  Jeff Bailey   3/17/200,  9:52:24 AM
QQQ $35.36 ... session high has been $35.41, but couldn't get a 5-minute bar close above BLUE #2 of $35.40. Early highs are at what I think might be a current "collar" on QQQ expiration, which I discussed in last night's Index Trader Wrap.

 
 
  Jeff Bailey   3/17/200,  9:43:38 AM
Swing trade raise bullish stop alert .... QQQ $35.34 +1.14% ... raise bullish stop to $35.29.

 
 
  Jeff Bailey   3/17/200,  9:42:30 AM
QQQ $35.36 +1.14% ... session high has been $35.37.

 
 
  Jeff Bailey   3/17/200,  9:41:12 AM
Sector action broadly positive with Airline (XAL.X) 53.77 +2.67%, Internet (INX.X) 174.05 +2.04%, Transport (TRAN) 2,833.55 +1.54% and Semiconductor (SOX.X) 484.26 +1.51% leading long list of gainers.

Weakness has Gold Bugs ($HUI.X) 218.13 -0.06% and Drug (DRG.X) 325.56 -0.1% only sectors showing loss early.

 
 
  Jim Brown   3/17/200,  9:35:00 AM
Linda is still on pregnancy leave this morning. Her third grandchild was to be born yesterday and she is in attendance. I have not heard from her as to the outcome.

 
 
  Jeff Bailey   3/17/200,  9:33:47 AM
QQQ $35.26 +0.85% .... March $36 puts (QQOJ) $0.80 x $0.85 are most active contract at 3,006, while March $35 calls (QQQCI) $0.40 x $0.45 next at 1,472. VXN.X 27.06 -1.02% low of session.

 
 
  Jeff Bailey   3/17/200,  9:17:10 AM
09:00 Update at this Link

 
 
  Jane Fox   3/17/200,  9:08:39 AM
Dateline CNN Ohio highway shooting suspect arrested Las Vegas, according to authorities in Franklin County, Ohio.

 
 
  Jane Fox   3/17/200,  9:08:09 AM
Dateline WSJ The growth of U.S. consumer prices slowed last month as prices of energy and housing moderated, suggesting the global economic recovery isn't stoking inflation.

The Consumer Price Index rose 0.3% in February, slowing from a 0.5% increase in January, the Labor Department said Wednesday. The closely watched core index, which excludes food and energy items, rose just 0.2%, the same as in January. In annual terms, the core rate inched up to 1.2% for the 12 months that ended February.

The report broadly matched Wall Street's expectations. The average forecast of economists surveyed by Dow Jones Newswires and CNBC had called for a 0.3% gain in the overall index and a 0.1% increase in the core index. The numbers also validated the Federal Reserve's judgment that inflation will stay low this year, giving the central bank the freedom to keep interest rates low.

 
 
  OI Technical Staff   3/16/200,  8:37:43 PM
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