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Jeff Bailey : 8/24/2005 12:07:59 AM

Program Trading Levels for Wednesday ... HL Camp and Company has their computers set for program buying at $+2.70 and set for program selling at $+0.60.

OI Technical Staff : 8/23/2005 9:59:59 PM

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Jeff Bailey : 8/23/2005 6:00:36 PM

Pivot Matrix for tomorrow at this Link

Jeff Bailey : 8/23/2005 5:34:01 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 8/23/2005 5:16:19 PM

Baidu.com (BIDU) $82.00 ... $84.30 ... DAILY Pivot Levels for tomorrow are ... $68.05, $75.03, Piv= $78.51, $85.49, $88.97

WEEKLY Pivot Levels ... $67.03, $73.26, Piv= $85.62, $91.85, $104.21

Jeff Bailey : 8/23/2005 5:13:38 PM

Baidu.com (BIDU) $82.00 ... $83.20 ... sees Q3 Rev. RMB 77.4M- RMB 81.2M

Jeff Bailey : 8/23/2005 5:11:44 PM

Baidu.com (BIDU) $82.00 ... ticking higher at $82.28 after announcing unaudited financial results for Q2 2005. Financials at this Link

Jeff Bailey : 8/23/2005 5:05:25 PM

Closing Internals found at this Link

Jeff Bailey : 8/23/2005 4:18:51 PM

Current OPEN MM Profiles at this Link ... Today's Activity ... Day trade short the Semiconductor HOLDRs (SMH) at $36.66 with target of $36.40. Closed trade at $36.61 ($+0.05, or +0.14).

Jeff Bailey : 8/23/2005 3:59:47 PM

Dumping 1/4 position in BIDU here at the close. BLUE #6 just ahead.

Jeff Bailey : 8/23/2005 3:45:55 PM

Baidu.com (BIDU) $80.34 +10.5% Link ... edges above yesterday's high. BIDU has NOT been able to break above a prior day's high since its 2nd day of trade.

Linda Piazza : 8/23/2005 3:26:11 PM

Just noticed Jim's 3:06 post. LOL. Actually, I'm quite proud of tearing myself away for several hours at a time. And I do plan on disappearing tomorrow and the rest of the week, when Jonathan returns. When I planned my vacation, I didn't know that Jonathan would be away for a family wedding, and, since I could drop in every once in a while, I thought it only fair to readers that I do so.

In fact, I'm signing off again, probably for the rest of the afternoon. As I mentioned in my 3:17 post, the OEX is finding resistance at the 200-sma and mid-channel Keltner resistance. The advdec line is finding resistance at the mid-channel level, too. I'd expect there to be an effort to hold the OEX near the 200-sma, if possible, but if the bottom falls out again and if some have ventured new bearish positions when the OEX began turning down from near 567, they need to have a plan in place for how they'll treat the 100-sma at 564.61 and the 200-sma at 562.90. Both offer potential support. Anyone looking at an OEX chart for many months will see a clear pattern of a strong move followed by lots of chopping around between Keltner channel lines that are currently at 564.31 on the downside and 568.68 on the upside.

Jeff Bailey : 8/23/2005 3:16:57 PM

10-year YIELD ($TNX.X) tomorrow's DAILY Pivot Levels ... 41.40, 41.64, Piv= 41.96, 42.20, 42.52.

Linda Piazza : 8/23/2005 3:17:37 PM

Checking in again for a few minutes to see that the at its LOD, the OEX had dipped a little lower than the 100-sma, between that average and the 200-ema just below, with the advdec line dipping a little lower than the -1600 where it appeared it might have some support. The OEX is finding Keltner resistance from 567.09-568.69, as least so far, but doesn't appear to have broken through the support of the bear flag from which it climbed off the day's low. I would expect some effort to maintain the 200-sma into the close, but if I were in a bullish position, I'd be very cautious about the current test going on. Both the OEX and the advdec line are struggling with mid-channel Kletner resistance and it's not at all clear that they'll be able to progress much higher than the current levels.

Jeff Bailey : 8/23/2005 3:09:41 PM

03:00 Internals found at this Link

Jim Brown : 8/23/2005 3:06:09 PM

For those just tuning in I would like to remind everyone that Jonathan is out until tomorrow. Linda is supposed to be on vacation although I see from her random posts that she can't tear herself away from the market. Jane is out this week for her daughter's wedding. The loss of their input has reduced monitor input substantially but it was a well desesrved vacation for them all. Next week we aill be back at full strength.

Jeff Bailey : 8/23/2005 3:02:04 PM

03:00 Market Watch found at this Link

Jeff Bailey : 8/23/2005 2:54:08 PM

TRIN 1.17 ... afternoon low .... 1.00

Jeff Bailey : 8/23/2005 2:39:51 PM

QQQQ $38.86 +0.05% ...

Jeff Bailey : 8/23/2005 2:38:19 PM

10-year YIELD ($TNX.X) down 4.1 bp at 41.78, or 4.178%. Still rather "defensive" in my opinion. Equity bulls want selling, yield higher in my opinion.

Jeff Bailey : 8/23/2005 2:37:16 PM

Semiconductor HOLDRs (SMH) $36.71 -0.16% ...

Jeff Bailey : 8/23/2005 2:36:10 PM

TRIN alert 1.08

Jeff Bailey : 8/23/2005 2:25:01 PM

Baidu.com (BIDU) $78.00 +7.44% ... edges above DAILY R1 $77.84. BIDU hasn't traded a DAILY R1 since kissing it at 100.51 on 08/11/05.

Jeff Bailey : 8/23/2005 2:23:32 PM

Baidu.com (BIDU) $77.44 +6.53% ... eating at a big block of 14,300 at $77.70.

DAILY Pivot analysis traders will want to note that BIDU has NOT closed above a DAILY Pivot since doing so on 08/11/05 when it closed at $97.57.

The next session (08/12/05) the stock could do no better that challenge the prior day's high, but then close back below its DAILY Pivot of $96.22.

Jeff Bailey : 8/23/2005 2:18:44 PM

QQQQ/TRIN/TNX.X ... day trader's montage at this Link

Jeff Bailey : 8/23/2005 2:18:12 PM

QQQQ/TRIN/TNX.X ... day trader's montage at this

Jeff Bailey : 8/23/2005 2:08:21 PM

02:00 Internals found at this Link

Jeff Bailey : 8/23/2005 2:02:11 PM

02:00 Market Watch found at this Link

Jeff Bailey : 8/23/2005 1:49:52 PM

GSTI Software Index (GSO.X) 162.12 +0.17% ... bids green.

Jeff Bailey : 8/23/2005 1:55:31 PM

SMH/TRIN/TNX.X day trader's montage at this Link ... main reason for covering SMH day trade short was TNX.X action after test of MONTHLY Pivot. Shorts DO NOT WANT money to come out of "safety" and rotate to equities.

Jeff Bailey : 8/23/2005 1:10:53 PM

01:00 Internals found at this Link

Jeff Bailey : 8/23/2005 1:02:09 PM

01:00 Market Watch found at this Link

Jeff Bailey : 8/23/2005 12:53:27 PM

TRIN 1.23 now ...

10-year ($TNX.X) 41.81, or 4.181%.

It would have been to easy if the SMH would have just traded $36.40 wouldn't it?

Jeff Bailey : 8/23/2005 12:50:24 PM

TRIN 1.16

Jeff Bailey : 8/23/2005 12:49:44 PM

Bearish day trade close out alert for the SMH $36.61

Jeff Bailey : 8/23/2005 12:48:26 PM

Dow Diamonds (DIA) $105.09 -0.53% .... yepper. WEEKLY S1 too. Destiny called MONTHLY Pivot too.

Jeff Bailey : 8/23/2005 12:47:44 PM

10-year YIELD ($TNX.X) down 3.8 bp and comes back up to test its WEEKLY S1.

Jeff Bailey : 8/23/2005 12:32:12 PM

S&P Banks (BIX.X) 353.88 -0.86% ... session low and slipping just under DAILY S2.

10-year YIELD ($TNX.X) down 4.4 bp at 4.175%. Hey, this is MONTHLY Pivot right here.

Jeff Bailey : 8/23/2005 12:29:15 PM

SMH/TRIN ... day trader's chart update at this Link

Jeff Bailey : 8/23/2005 12:18:20 PM

TRIN 1.27, session high has been 1.47

Jeff Bailey : 8/23/2005 12:18:00 PM

Bearish day trade lower stop alert on the SMH to $36.75.

SMH $36.48 -0.78% ... session low has been $36.42.

Jeff Bailey : 8/23/2005 12:12:33 PM

12:00 Internals found at this Link

Jeff Bailey : 8/23/2005 12:04:16 PM

12:00 Market Watch found at this Link ... BIG bid for Treasuries.

Jeff Bailey : 8/23/2005 12:01:12 PM

Bearish day trade lower stop alert for the SMH to $36.80. SMH $36.51 here. Keep sliding your "dynamic" lower. Just a penny, but will slide the 61.8% and 50% lower too.

Tab Gilles : 8/23/2005 12:00:07 PM

Intel (INTC) Link

Jeff Bailey : 8/23/2005 11:56:27 AM

SMH/TRIN day trader's montage at this Link

Linda Piazza : 8/23/2005 11:53:51 AM

Checking back in for a moment. Earlier I warned that if the OEX were to continue lower, to be particularly protective of bearish profits at the 100-sma at 564.60, and that's being hit/tested as I type. I warned to watch for the advdec line to attempt to steady at -1600, and that's being slightly exceeded as I type, but that's a number to be watched on a 30-minute close. In other words, if you didn't take partial profits at the bottom of that same old Keltner channel's support this morning, you might consider doing so now, and continue moving stops lower on the rest. The advdec line often finds support at or near the Keltner line currently being tested. If it doesn't, this may be a really down day, but there's danger to bears now that it will bounce and bring equities higher, too. Just guard profits as the OEX's 100-sma does prove important in the OEX's behavior. The 200-ema is below at 562.88. As many of you know who follow my commentary, I've been using the BIX as an example as they had analogous chart patterns, and the BIX's testing of the 200-sma led me to believe the OEX would likely do so, too, and the BIX's choppy period between the 200-sma and 200-ema led me to believe that the OEX might lose the 200-sma's support and perhaps test the 200-ema. I would not suggest a long position. And I'm off again, but have just been trying to check in whenever possible.

Jeff Bailey : 8/23/2005 11:46:11 AM

TRIN 1.27

Jeff Bailey : 8/23/2005 11:46:00 AM

Day trade short alert .... the SMH $36.66 here, stop $36.84, target $36.40.

Jeff Bailey : 8/23/2005 11:44:58 AM

I'm looking at a day trade short in the Semiconductor HOLDRs (SMH) $36.68 -0.24% ... Pivot Levels traders ... Note how the TRIN 1.19 +2.58% sits in upper "zone of resistance". If TRIN breaks above WEEKLY Pivot (1.21), think SMH vulnerable to $36.40.

Tab Gilles : 8/23/2005 11:43:56 AM

Bond ChartGlance Link

Jeff Bailey : 8/23/2005 11:36:00 AM

October Crude Oil futures (cl05v) $65.10 -0.83% (30-min delayed) ... WEEKLY Pivot Levels ... $60.48, $63.16, Piv= $65.43, $68.11, $70.38.

Jeff Bailey : 8/23/2005 11:14:33 AM

11:00 Internals found at this Link

Linda Piazza : 8/23/2005 11:12:28 AM

Checking back in for a second, and I see that the OEX is hitting the bottom of its 15-minute Keltner channel, as the advdec line's action this morning suggested that it might (see my last post). Short-term bears, you need to consider taking partial profit and ratcheting your stops lower to protect profit on the rest of your position, or if you're ultra conservative, just taking full profit. If the OEX heads lower, be particularly watchful of profits at the 100-sma at 564.61 and really watchful at the 200-ema at 562.89. The advdec line suggests that it might be likely to try to steady--although I'm not sure how successful it will be--at -1600. If it doesn't at least make that attempt, then it might be a really down day, but I'd keep a watch on that steadying/bounce possibility if I were in a bearish play. And I'm off again.

Jeff Bailey : 8/23/2005 11:07:07 AM

S&P Banks Index (BIX.X) 355.08 -0.53% ...

Jeff Bailey : 8/23/2005 11:06:36 AM

10-year YIELD ($TNX.X) down 3.0 bp at 4.189%.

Jeff Bailey : 8/23/2005 11:06:08 AM

Sell Program Premium ... DIA $105.27, SPX 1,218.35, QQQQ $38.75

Jeff Bailey : 8/23/2005 11:02:24 AM

11:00 Market Watch found at this Link

Jeff Bailey : 8/23/2005 10:59:43 AM

Networking Index (NWX.X) 222.64 +0.64% Link ... edges above its 200-day SMA (221.69), with 50-day SMA (223.50) near-term resistance.

LU $2.98 +3.83%, ADTN $27.46 +2.5%, ADCT $22.40 +1.63%, ELX $20.00 +1.36% ... COMS $3.35 -1.75%, ALA $11.87 -0.83%

Jeff Bailey : 8/23/2005 10:46:38 AM

Canadian 98-day Bill avg. yield rises to 2.758% from 2.634%. At this week's auction of C$5.3 billion of 98-day government of Canada treasury bills was 2.758%, up from 2.634% at the previous auction held August 9.

Jeff Bailey : 8/23/2005 10:22:32 AM

Existing Home Sales fell 2.6% in July to a seasonally adjusted annual rate of 7.16 million, the third highest level ever. Industry analysts were looking for sales of about 7.29 million. Sales for June were revised up to a record 7.35 million from 7.33 million. July's figures were up 4.7% from year-ago levels.

The median sales price rose 14.1% year-over-year to $218,000. David Lereah, chief economist for the National Assocation of Realtors said a 14% price appreciation in a year "is not sustainable."

Inventories of homes for sale rose 2.6% in July to 2.751 million, a 4.6 month supply at the current sales pace. It is the largest inventory since May 1988, and largest months' supply since November 2003.

Regionally, sales were flat in the South, down 7.5% in the West, down 3.3% in the Northeast and down 1.8% in the Midwest.

Jeff Bailey : 8/23/2005 10:14:17 AM

Yesterday's Internals found at this Link

Jeff Bailey : 8/23/2005 10:12:58 AM

10:00 Internals found at this Link

Jeff Bailey : 8/23/2005 10:05:04 AM

10:00 Market Watch found at this Link

Linda Piazza : 8/23/2005 10:03:31 AM

Advdec line threatening to fall beneath support, threatening a drop down toward -1480.45, which may mean it's possible for the OEX to drop further, too. Bears, be watchful for a quick bounce in the advdec line, but OEX 564.65-565.38 may be possible. I'm not sure about a Keltner breakdown and new target toward the 200-ema, however. Be watchful of profits through here, bears. And now I'm taking off for a few hours. While Jonathan is still out today, I'll try to check in as often as I can out of a sense of responsibility to you readers and to the site.

Jeff Bailey : 8/23/2005 10:00:50 AM

Collegiate Pacific (BOO) $12.50 (unch) Link ... a stock I've mentioned as bullish the past few months. Looking to take some partial profits in personal account in this $12.42-$12.54 "zone of resistance" from previously shown retracement work.

Linda Piazza : 8/23/2005 9:59:14 AM

Still here for a moment longer. OEX traders should note that the OEX is now sitting right at the 200-sma. Fifteen-minute Keltner channels suggest susceptibility to 565.43, but be careful here, bears. If you entered on a rollover beneath 568.47, one of the spots I said to watch today for a potential rollover, you want a quick thrust through that Keltner line now at 565.44, and you don't want a quick and hard bounce.

Jeff Bailey : 8/23/2005 9:54:30 AM

Boston Scientific (BSX) $26.06 -4.01% Link ... sets up a test of bullish support trend with bearish vertical count hinting at $18.00 after the FDA issued a warning letter saying an inspection of its facility in Quincy, Mass., revealed "serious regulatory problems" with the company's medical devices. The letter, dated 8/10/05, specifically mentions Boston Scientific's Vaxcel low profile infusion ports, Taxus stents, and Symmetry catheters. The FDA initially sent a letter about the facility in May, and it addresses the company's response in the latest letter, saying Boston Scientific has failed to address system-wide corrective actions necessary to bring the facility into compliance.

Jeff Bailey : 8/23/2005 9:47:25 AM

Sell Program Premium ... DIA $105.39, SPX 1,220.22, QQQQ $38.80.

Jeff Bailey : 8/23/2005 9:45:17 AM

Sell Program Premium ... DIA $105.46, SPX 1,221.10, QQQQ $38.85.

Jeff Bailey : 8/23/2005 9:39:18 AM

Pier One (PIR) $13.17 -4.97% Link ... notable 52-week low on the big board after the retailer said it now sees a loss of $0.12-$0.14 a share for the 3-months ended August 27 with same store sales anticipated to decline between 8% and 9%. For August, the retailer expects a drop of 13% to 15% in same-store sales. The current average estimate of analysts is for a loss of $0.06 a share in the second quarter.

Linda Piazza : 8/23/2005 9:37:52 AM

Advdec line gapped lower and tries to rise now, but I don't like predicting or even trying to guess what it will do when it's in the mid-channel level, as it is now. I'm probably not going to be able to stay around long this morning, but watch first for OEX resistance at the just-being-approached 568.48 level and then again at 570.09, on 15-minute closes. Watch for a potential rollover from those levels. If the OEX closes strongly above 570.09, then something more bullish may be in the works and bears should watch, as there would then be a tentative upside target near 574. I wouldn't feel comfortable suggesting a long play in the current climate, although I've been wrong before about that. A 15-minute close below the Keltner line currently at 565.56 sets up a downside target of 563.08. These breakout and breakdown plays just haven't been great lately, though. As always, if you're in a bullish play and the top of that same old channel, now near 570, is approached, take at least partial profits and reset stops. If you're in a bearish play on a rollover today, take at least partial profits as the bottom of the channel is approached, now at 565.56 and reset stops on the rest.

Jeff Bailey : 8/23/2005 9:34:06 AM

Google (GOOG) $276.25 +0.81% Link ... gains after the Los Angeles Times reported the Web search company will launch its own instant messaging system soon.

Linda Piazza : 8/23/2005 9:32:31 AM

Checking in this morning for a moment before getting started on my vacation day. I see the same story today as yesterday with the OEX. The OEX punched higher than the converging 10- and 30-sma's, but the story still remained the same. Selling rollovers beneath those averages after that punch higher made a good bearish entry as long as at least partial profits were taken as the 200-sma was approached and stocks set to breakeven on the rest. With the OEX's formation on the daily chart looking like a possible "b" distribution pattern, I haven't been suggesting even scalped longs, but the OEX did bounce from that same old Keltner channel's support and start moving up through the Keltner channel again. As yesterday ended, the advdec line suggested that there might still be some bounce left, but it's possible that 568.50-ish Keltner resistance will be enough to stop the OEX this time. If not, watch for another potential rollover at/beneath the Keltner channel currently at 570.11 for the next bearish entry. Breakout or breakdown entries have not been good ones to take, and the advdec line at the close yesterday didn't give many clues, suggesting more possible upside.

Jeff Bailey : 8/23/2005 9:30:18 AM

Plumtree Software (PLUM) $4.86 Link ... jumps to #3 most active and jumps higher to $5.43 after business software maker BEA Systems (BEAS) $8.89 Link said it agreed to buy the company for $200 million, or $5.50 a share.

Jeff Bailey : 8/23/2005 9:29:35 AM

General Electric (GE) $33.97 Link ... edges higher to $34.07 after announcing a joint venture with Rolls-Royce, which lands both companies a $2.47 billion contract to develop an engine for the military's next-generation stealth jet fighter.

GE was named the majority partner in a 60-40 joint venture split. The contract is the largest military developmental contract in about 20 years for GE's jet-engine division.

Jeff Bailey : 8/23/2005 9:28:55 AM

Amylin Pharmaceuticals (AMLN) $21.93 Link ... trading higher at $28.49 at atop this morning's most active list after the company, along with Eli Lilly (LLY) $52.71 Link (higher at $53.50) and Alkermes (ALKS) $15.83 Link (higher at $18.05) reported positive results from a Phase II study of a long-acting release formula of the Byetta injection in patients with type 2 diabetes.

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