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  Jeff Bailey   3/18/200,  5:42:19 PM
Pivot Matrix for tomorrow at this Link

  Jeff Bailey   3/18/200,  4:55:54 PM
Closing Internals at this Link

  Jeff Bailey   3/18/200,  4:20:01 PM
TASER Intl. (TASR) $62.40 +9.89% Link .... this should be the only position open for stocks I've profiled (long or short).

  Jim Brown   3/18/200,  4:14:57 PM
ADBE Earnings +0.50

  Jeff Bailey   3/18/200,  4:04:04 PM
NASDAQ-100 Index (NDX.X) 1,417.77 -0.77% ... quick run of the DAILY Pivot analysis levels would show correlation at tomorrow's DAILY S1 (1,398.20) and WEEKLY S1 (1,395.34) and resistance correlation at the DAILY R2 (1,435.54) and WEEKLY Pivot of 1,438.26 as well as MONTHLY S1 of 1,440.55.

This may well define a range for tomorrow, with the uncertainty of just what is taking place in Pakistan.

  Jeff Bailey   3/18/200,  3:46:21 PM
S&P 500 Index (SPX.X) 1,123.83 (unch) ...

  Jeff Bailey   3/18/200,  3:38:33 PM
S&P 500 Index (SPX.X) 1,125.47 +0.15% ...

  Jim Brown   3/18/200,  3:19:39 PM
Video interview with Pakistan Prime Minister about the fighting. Link

  Jeff Bailey   3/18/200,  3:09:34 PM
Volume Spike ... ... Taser Intl. (TASR) $62.08 ... 5-minute volume spike of 300,900 shares lifts TASR to session high.

  Jeff Bailey   3/18/200,  3:05:34 PM
03:00 Internals at this Link

  Jeff Bailey   3/18/200,  2:26:06 PM
QQQ $35.20 -0.84% ... going to be tough to move the indices, I would think, from here, with traders now fixated on news out of Pakistan, where the facts might not be known until after the close.

Would have been nice to have gotten a QQQ target back at $35.45, but came up a couple of pennies shy. Woulda, coulda, shoulda just targeted RED #1 of $35.40.

  Jeff Bailey   3/18/200,  2:13:38 PM
Bema Gold (BGO) ... Bullish day trade was cancelled, with no fill.

  Jeff Bailey   3/18/200,  2:12:29 PM
02:00 Internals at this Link

  James Brown   3/18/200,  2:11:46 PM
Yesterday YHOO was the big winner in the Internet group with both First Albany and Smith Barney upgrading the stock. Considering how the major indices have turned lower it's impressive that YHOO is maintaining its gains. Its MACD has produced a fresh buy signal but I'd still wait to evaluate any new bullish positions until YHOO can breakout above the $45 mark and its simple 50-dma still overhead.

  Jeff Bailey   3/18/200,  2:03:04 PM
Bullish day trade stop alert QQQ $35.17.

  Jim Brown   3/18/200,  2:02:15 PM
Pakistan officials saying it is NOT Bin Laden they suspect to be in the area.

  Jim Brown   3/18/200,  2:01:44 PM
Minutes of the January FOMC meeting: Link

  Jeff Bailey   3/18/200,  1:59:01 PM
Bullish QQQ day trade adjustment alerts .... from bullish entry of $35.17, Raise stop to break even ... and lower target from $35.45, to $35.35.

Post-profile high was $35.42, but just wan't enough juice.

  Jim Brown   3/18/200,  1:54:31 PM
CNN News story on Al Qaeda Link
FOX Story Link

  James Brown   3/18/200,  1:47:24 PM
Sector update @ 01:50 PM ET

XAU gold & silver: +2.63%
OSX oil services: +0.74%
OIX oil index: +0.44%
BTK biotech: +0.44%
the DJUSHB and IUX are also bullish.

(Biggest) Losers:
XAL airlines index: -2.36%
NWX networking index: -1.54%
SOX semiconductors: -1.15%
DDX disk drives: -1.17%

  James Brown   3/18/200,  1:25:18 PM
If you're the type of trader who likes to try and scalp a few points the bounce in Golden West Financial (GDW) might be a play for you. The stock has found support and is climbing its simple 21-dma. Short-term technicals are bullish (RSI & stochastics) and resistance is about $2.60 away at the $117 level.

  Jeff Bailey   3/18/200,  1:23:57 PM
01:00 Internals at this Link

  James Brown   3/18/200,  1:20:18 PM
The DJUSHB home construction index has turned positive!

  Jeff Bailey   3/18/200,  1:18:45 PM
Sell Prog. Prem.

  Jim Brown   3/18/200,  1:18:36 PM
FOX news now saying the #2 Al Qaeda man may have been captured.

Update - they are now saying he "may" be surrounded.

  James Brown   3/18/200,  1:17:59 PM
wow! that's quite a move in the Dow!

  Jeff Bailey   3/18/200,  1:17:30 PM
Dow Industrials (INDU) 10,316.70 +0.15% ... challenges yesterday's highs.

  Jeff Bailey   3/18/200,  1:16:48 PM
3M (MMM) $80.00 +0.55% ... session highs. Moves above 50-day SMA resistance.

  Jeff Bailey   3/18/200,  1:16:00 PM
QQQ $35.32 -0.5% ...

  Jeff Bailey   3/18/200,  1:15:33 PM
NASDAQ-100 Volatility Index (VXN.X) 24.48 -1.09% ... drops below yesterday's lows. Might be seeing some option positions unwind yet again.

  Jeff Bailey   3/18/200,  1:14:48 PM
Buy Prog. Prem.

  Jim Brown   3/18/200,  1:12:51 PM
FOX is now saying that it is possible Bin Laden escaped during a fierce gun battle with tribesmen protecting him.

  Jeff Bailey   3/18/200,  1:10:54 PM
S&P 500 Index (SPX.X) 1,119.55 -0.37% ... back above that 1,119 level.

VIX.X 18.96 +4.69% ...

  Jim Brown   3/18/200,  1:10:34 PM
The Al Qaeda target is now reported to be Bin Laden or his second in command. This according to FOX news.

  Jeff Bailey   3/18/200,  1:05:25 PM
Day trade long alert ... QQQ $35.17 here, stop $34.95, target $35.45.

  Jeff Bailey   3/18/200,  12:52:38 PM
Sell Prog. Prem.

  Jeff Bailey   3/18/200,  12:51:33 PM
Day trade bearish stop alert ... Wells Fargo (WFC) $58.35

  Jim Brown   3/18/200,  12:51:18 PM
Rumor now spiking the markets is that a Al Qaeda target has been surrounded and capture is imminent - no word on capture of who

  Jeff Bailey   3/18/200,  12:51:04 PM
Buy Prog. Prem

  Jim Brown   3/18/200,  12:50:21 PM
Reuters reporting massive explosions in Baghdad again.

  Jeff Bailey   3/18/200,  12:48:53 PM
S&P Banks Index (BIX.X) 348.44 -0.86% ... just off session low of 347.82, which came right at today's DAILY S2 of 347.81.

  Jeff Bailey   3/18/200,  12:46:41 PM
Dow Industrials (INDU) 10,225.34 -0.72% .... just off session low of 10,214.15, where DAILY S1 is 10,214.23.

S&P 500 Index (SPX.X) 1,114.24 -0.84% ... just off session low of 1,113.25, where DAILY S1 is 1,114.38. QQQ $35.10 -1.12% ... just off session low of $34.97, where DAILY S2 is $34.99, and DAILY S1 now above at $35.25.

  James Brown   3/18/200,  12:41:49 PM
It is now believed that the American Internet audience has reached 200 million users, about 75% of the population.

  Jeff Bailey   3/18/200,  12:34:12 PM
Bullish day trade entry cancel alert ... for bullish entry in Bema Gold (BGO) $3.79 +5.57% ... cancel bullish entry of $3.60.

  James Brown   3/18/200,  12:27:31 PM
Morgan Stanley has upgraded Juniper Networks (JNPR) from "under weight" to "equal weight". MWD also issued some positive comments on the wireline networking equipment sector and expects spending to increase in addition to VoIP growth.

  Jim Brown   3/18/200,  12:21:34 PM
Philly Fed Table - Link

Highlights = Prices paid spiked +10, Inventories dropped -12, Workweek fell but delivery times doubled.

  James Brown   3/18/200,  12:20:50 PM
Fortune Brands Inc (FO) is up 4.53% and breaking out to new all-time highs over the $75 mark after raising their Q1 guidance. FO said earnings should grow 19% from a year ago and surpass analyst estimates. The company is due to report in mid-April.

  James Brown   3/18/200,  12:16:24 PM
Dow component McDonalds (MCD) is down 2.92% and back under what had been minor support at $28.00. Sounds like investors must have missed the memo this morning. MCD is planning to roll out their Happy Meal "enhancements" program. In the U.S. that will include 1% milk and apple dippers. In Italy consumers will see fruit cups on the menu and in Spain they can add low-fat yogurt. - Dow Jones News

  Jeff Bailey   3/18/200,  12:10:32 PM
12:00 Internals at this Link

  Jim Brown   3/18/200,  12:05:39 PM
Philly Fed Survey Link

  James Brown   3/18/200,  11:59:56 AM
Quick observation... Sears (S) has broken down under its simple 200-dma after four days of consolidating between the 200-dma and the $45 level.

  Jim Brown   3/18/200,  11:59:24 AM
Philly Fed Survey = 24.2 ,(est 30.0, last 27.0)
New orders index dropped -6 points
Futures orders index dropped -22 points

  James Brown   3/18/200,  11:58:55 AM
Sector Update...

XAU gold & silver: +3.07%
OSX oil services: +0.42%
OIX oil index: +0.02%

noteworthy...Copper futures: +1.66%

(Biggest) Losers:
XAL airlines index: -3.21%
NWX networking index: -1.48%
GSO software index: -1.12%
INX Internet index: -1.12%
XBD Broker-dealers: -1.25%

  Jim Brown   3/18/200,  11:57:28 AM
Two minutes until Philly Fed Survey (est 30.0, last 27.0)

  Jim Brown   3/18/200,  11:44:16 AM
Oracle just announced it is close to agreements with 100 computer makers in Asia to bundle its financial management software with their hardware offerings. They expect the deals to close in May. This is a direct attack on the low end of the market and ORCL said they were considering the same deals in the U.S.

  Jim Brown   3/18/200,  11:31:55 AM
The dollar is falling sharply today against the Euro and the Japanese yen. That's pushing gold prices $4.40 higher to $411. If today's gains hold, it may be a sign that gold stocks are going to turn higher again. The XAU Index has climbed over its 50-day moving average. The XAU has been finding support above its 200-day moving average. This morning's larger than expected PPI report for January may also be increasing new inflation fears which would be good for gold and other commodities. Link Link

  Jeff Bailey   3/18/200,  11:08:17 AM
11:00 Internals at this Link

Yesterday's Internals at this Link

  Jonathan Levinson   3/18/200,  10:58:47 AM
I was reading recently that the French have had their hands full policing their rail lines, with extortionists threatening to detonate bombs placed at undisclosed locations on the tracks.

  Jim Brown   3/18/200,  10:57:00 AM
PARIS, March 18 (Reuters) - An object found by French police on a stretch of rail track north of Paris used by Eurostar trains was an oxygen canister, an official for the local Val d'Oise prefecture said, adding it presented "apparently no danger".

  Jim Brown   3/18/200,  10:53:34 AM
Internals today across all markets are showing a 2:1 decliners over advancers ratio. Volume is still weak and there is no real evidence of option expiration influences. We know they are there but very light this month.

  Jeff Bailey   3/18/200,  10:33:08 AM
Correction to TASR bullish stop alert .... bullish stop should be $54.90, not $49.90.

  Jeff Bailey   3/18/200,  10:16:40 AM
Swing trade bullish entry alert .. Taser Intl. (TASR) $61.00 Link

  Jeff Bailey   3/18/200,  10:12:12 AM
S&P Banks Index (BIX.X) 348.95 -0.71% ... gives up yesterday's lows.

  Jeff Bailey   3/18/200,  10:11:31 AM
S&P 500 Index (SPX.X) 1,117.81 -0.52% ... below the 1,119 level

  Jeff Bailey   3/18/200,  10:10:39 AM
Day trade short alert ... Wells Fargo (WFC) $58.17 here, stop $58.35, target $57.85

  Jeff Bailey   3/18/200,  10:07:43 AM
Swing trade long alert ... TASER Intl. (TASR) $60.37 +6.35% ... go long on trade at $61.00, stop $54.90 (to begin), target $80.00

  Jim Brown   3/18/200,  9:59:00 AM
Conference Board Leading Indicators = +0.0%, (est +0.1%, last +0.5%)

  Jonathan Levinson   3/18/200,  9:56:55 AM
A big 9.5B overnight repo effects a 4.25B drain against the 13.75B expiring. Add to that the 1B net drain on the 14-day timeframe, and we get a 5.25B net drain today.

  Jim Brown   3/18/200,  9:55:29 AM
Five minutes until Conference Board Leading Indicators (est +0.1%, last +0.5%)

  Jeff Bailey   3/18/200,  9:52:47 AM
Taser Intl. (TASR) $59.27 +4.4% ... stock sees volume at the open... session highs. Today's trade has stock breaking above downward trend on bar chart from the all-time high of $67.75. Shorts looks pressured here.

  Jeff Bailey   3/18/200,  9:50:52 AM
NASDAQ-100 Volatility Index (VXN.X) 24.85 +0.4% .... QQQ $35.36 -0.4%

  Jeff Bailey   3/18/200,  9:43:35 AM
S&P 500 Index (SPX.X) 1,121.01 -0.24% ... above my short-term option expiration 38.2% retracement of 1,119.89.

  Jeff Bailey   3/18/200,  9:36:56 AM
Day trade long alert .... Bema Gold (BGO) $3.70 +3.06% ... go long on morning pullback to $3.60, stop $3.52, target $3.85.

  Jim Brown   3/18/200,  9:33:25 AM
Merrill upgraded the entire semiconductor sector but the SOX is trading down at the open.

  Jim Brown   3/18/200,  9:30:48 AM
I heard from Linda last night. She has a new granddaughter, her 3rd, but the baby had complications from being premature and is in intensive care. She is expected to be fine but Linda will be doing hospital duty with mom and baby for several more days.

  Jeff Bailey   3/18/200,  9:23:17 AM
09:00 Update at this Link

  Jane Fox   3/18/200,  9:08:03 AM
Dateline DJNewswire U.S. jobless claims down 6,000 to seasonally adjusted 336,000 in week ending March 13, a three-year low, suggesting gradual job-market improvement. Economists had expected a rise by 4,000. Initial estimate for March 6 week raised by 1,000 to 342,000.

  Jonathan Levinson   3/18/200,  9:05:41 AM


  Jonathan Levinson   3/18/200,  8:31:10 AM
8:31am U.S. JAN. PPI CORE UP 0.3% VS. 0.1% EXPECTED

Initial claims 336K.

  Jonathan Levinson   3/18/200,  8:29:49 AM
PPI +.6%, bonds getting dumped.

  Jonathan Levinson   3/18/200,  8:13:34 AM
We await the 8:30 release of initial claims, est. 345K, and with the latest FOMC announcement behind us, I guess that the BLS is now willing to release the Jan PPI, at long last. The release time is also 8:30. The estimate is +.4%, core PPI estimated at +.1%, but given the discussions of changing the formula, revamping the computers and whatever other excuses were added, I expect the market to take the delayed data with a grain of salt. Is there inflation at the level of producer prices? With the CRB at 20 year highs, how can there not be?

  Jeff Bailey   3/17/200,  10:47:11 PM
SPX option chain where I'm only showing the March options, sorted by Tuesday evening's open interest. Link

What's up with that March 1,125 Put (SPTOE) volume of just 5,314, when open interest is 87,598? Answer #1: Bearish complacency and "it'll never get here." Answer #2: This was "the floor of support" where positions were hedged, and I've got some stock for you bulls at this level and I'm ready, willing and ABLE to deliver.

What's up with that March 1,150 Put (SPTOJ) volume of just 622, when open interest is 49,689? Answer #1: Bearish complacency and "it'll never get here." Answer #2: I was a seller at the highs, and just bought a hedge. I'm ready, willing and ABLE to deliver.

Tomorrow, I'd split the difference between 1,125 and 1,150 (25 / 2 = 12.50) and add it to 1,125 to come up with a MAX intra-day gain potential of 1,137.50, but that's probably too much gain for those March 1,100 Call holders.

The PROFIT RISK looks to be at 1,150 put, and 1,100 call based on open interest and last trade. Split that and you get 1,125, maybe a little higher to account for open interest comparisons.

Ouch's show where today's "PAIN" was delivered, who gets it tomorrow?

Here's the chart shown in Wednesday evening's Index Trader wrap. Is their SPX potential to 1,137.50? Link

Keep some of this in mind for early next week. My thinking is if SPX closes below the 1,125 strike, then there could well be some stock being sold early next week, with a pretty good chance of formidable resistance at 1,137.50.

  OI Technical Staff   3/17/200,  10:28:24 PM
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