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Tab Gilles : 12/20/2005 12:28:29 AM

NASDAQ SUMMATION SIGNALS SELL

Both the daily $NASI which went bearish Friday... Link and the weekly $NASI... Link gave SELL signals.

Back on 12/7 11:03 AM...I posted several charts signaling a rollover on the $NDX. Link

$VXN... Link Link NDX Link Link

Back on 12/1 12:43 AM I posted selling Profund Ultra OTC (UOPIX) and entering a 1/2 position on the Ultra ShortOTC (USPIX) @ $15.03. Waiting for a $NASI reversal before entering another 1/2 position. Well I'll be entering the remaining position on Tuesday's closing NAV. Tonights closing NAV on the USPIX was $15.23... Link

OI Technical Staff : 12/19/2005 9:59:59 PM

The Market Monitor has been archived. You may view it and any previous days here: Link

Disclaimer: Stocks discussed in the Market Monitor are for educational purposes only and any analysis is not meant to imply a recommendation for or against that stock. The analysts in this forum as on any other website are prohibited by the SEC from giving any specific advice to ANY individual trader. All information posted is for ALL readers and is not meant to be directed to any individual. Our analysts cannot answer any email questions regarding any specific stock. Please do not ask and please do not take offense if requests are denied.

Results posted in the Market Monitor are hypothetical and OIN does not claim that any reader achieved these exact results. Due to the lag time between research, writing, posting, uploading, reading and execution there will be differences between the actual signal given and the fill achieved by the reader. Fills may be better or worse but in most cases they will be different. The writers will make every effort to give advance notice of intended signals and indicate potential price targets. Your individual results may vary depending on your activity level and aggressiveness. This forum is intended as an education service only. Trading involves risk and should not be attempted by anyone not ready to accept this risk. By acting on any signal in this forum you agree and personally accept this risk.

Jeff Bailey : 12/19/2005 9:01:51 PM

02:12 PM EST Temperatures with Monday's Jan/Feb Nat. Gas and Heating Oil futures settlement at this Link

Jeff Bailey : 12/19/2005 7:30:46 PM

Pivot Matrix for Tuesday at this Link ... I would urge QQQQ and GOOG (market/stock) traders to "trade lightly" this week (long/call : short/put). I make note of tomorrow's $40.65 correlation in the QQQQ, but there's a new kid on the block. A BIG kid and very volatile kid that is very new to the NDX/QQQQ weighting. A weighting that may take a few days for computers and traders to adjust for.

GOOG and QQQQ 5-minute interval charts with QCharts' DAILY/WEEKLY Pivot Levels at this Link

Jeff Bailey : 12/19/2005 6:38:56 PM

Current OPEN MM Profiles found at this Link

Today's Activity ... Bullish swing traded long the Apache Corp. APA Feb. $70 Calls (APA-BN) at the offer of $3.60.

Jeff Bailey : 12/19/2005 5:47:30 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 12/19/2005 5:40:18 PM

Closing Internals found at this Link

Jeff Bailey : 12/19/2005 4:11:06 PM

Sell Program Premium ... DIA $108.12, SPY 125.72

Jonathan Levinson : 12/19/2005 3:51:59 PM

Quotetracker users can clean out the bad tick to 40.00 QQQQ by clicking the chart and pressing "Ctrl-shift-L".

Jeff Bailey : 12/19/2005 3:48:09 PM

January Nat. Gas (ng06f) settled up $0.41, or +3.01% at $14.043.

February Nat. Gas (ng06g) settled up $0.382, or +2.78% at $14.104.

Jonathan Levinson : 12/19/2005 3:43:47 PM

If I were short QQQQ Jan. 41 calls, which I'm not, I'd be assessing risk/reward to 40.00. As Marc points out, the put to call ratio on the Jan. 41 strike favors support, but with many weeks to go until opex, a break of support could see a quick run to the next lower strike as call writers apply hedges. Link

Jonathan Levinson : 12/19/2005 3:28:21 PM

41.20 replaces 41.30 as the level for bulls to beat- the trending intraday cycles are unreliable below that level even when on buy signals, as we saw on the bounce off the earlier 41.22 low. Link

Jonathan Levinson : 12/19/2005 3:17:28 PM

GOOG roundtripped from its 446.21 high to a 1.04% loss at 425.67.

Jeff Bailey : 12/19/2005 3:13:29 PM

03:00 Internals found at this Link

Jonathan Levinson : 12/19/2005 3:13:13 PM

Daily chart of QQQQ at this Link heading for support in the 40.90 area.

Jonathan Levinson : 12/19/2005 3:11:24 PM

Volume breadth weakens to -2.25:1:1 on the NYSE, -3.3:1 on the Nasdaq.

Jonathan Levinson : 12/19/2005 3:05:31 PM

The short cycle upturn failed to clear 41.30 QQQQ and the bulls are dropping the ball, with a break of the session low: Link

Jeff Bailey : 12/19/2005 3:03:08 PM

03:00 Market Watch found at this Link

Jeff Bailey : 12/19/2005 2:49:37 PM

Bullish swing trade call option alert ... Let's take two (2) of the Apache Corp. APA Feb. $70 Calls (APA-BN) at the offer of $3.60.

APA $69.63 +0.18% ...

Jonathan Levinson : 12/19/2005 2:48:38 PM

Volume breadth -1.8:1 on the NYSE, -2.56:1 on the Nasdaq.

Jonathan Levinson : 12/19/2005 2:41:28 PM

This looks like a better upturn for the Qs, with the short cycle indicators on the cusp of a new upphase as the wavelet works its way higher. 1st sign of trouble for the bears will be a break above 41.30. With the short cycle indicators trending in oversold, it's risky to rely on their signal alone. A break above 41.30 confluence would add confirmation, targeting 41.38-.44 next. Link

Jonathan Levinson : 12/19/2005 2:32:51 PM

Crude oil finished -1.05 at 58, 20 cents off the session low. Intrday 30 tick chart at this Link

Jonathan Levinson : 12/19/2005 2:23:30 PM

Volume breadth -1.75:1 on the NYSE, -2.55:1 on the Nasdaq.

Jeff Bailey : 12/19/2005 2:21:18 PM

MMS Gulf of Mexico Update ... Department of MMS saying it sees continued improvement in U.S. Gulf Oil and Nat. Gas Output ... 27.6% of oil (414,495 bbls/day) and 20.1% of nat. gas (2.01 bcf/day) still off line.

Jeff Bailey : 12/19/2005 2:14:34 PM

02:00 Internals found at this Link

Jeff Bailey : 12/19/2005 2:05:28 PM

Sell Program Premium ... DIA $108.50, SPX 1,263.93, QQQQ $41.25

Jeff Bailey : 12/19/2005 2:04:43 PM

02:00 Market Watch found at this Link

Jonathan Levinson : 12/19/2005 2:04:32 PM

I'm having great difficulty believing that this dip won't get bought- feels almost like a sure thing, given that there are some actual oversold readings on the intraday cycles. Those "sure-thing" feelings are very often a fade, however, which is the most bearish thing I see. The ISEE call/put ratio is quite high as well, up at 217 currently, which indicates aggressive retail call buying in progress- also a potential contrarian bearish signal. The 50-dma on the ISEE ratio is 174. For more on this indicator, see Link

Jonathan Levinson : 12/19/2005 1:51:12 PM

Volume breadth -1.55:1 on the NYSE, -2.4:1 on the Nasdaq with new price lows across the board.

Jonathan Levinson : 12/19/2005 1:47:15 PM

QQQQ testing S2 now, current low just below it at 41.29: Link

Jonathan Levinson : 12/19/2005 1:41:45 PM

QQQQ - Exit Point Alert -

Out QQQQ long from 41.35 at breakeven

Jonathan Levinson : 12/19/2005 1:37:01 PM

QQQQ pulls back and our stop is in the cross hairs. Swing trades with longer timeframes/wider risk tolerance will look to our initial stop at 41.29, but I'm leaving the stop at breakeven. Below 41.29, 41.18 and 41.20-.25 are the confluence zones to watch. Below 41.18, the outlook becomes much more bearish, as the daily cycle downphase will begin to finally get some traction. Link

Jeff Bailey : 12/19/2005 1:30:31 PM

National Assoc. Home Builders (NAHB) ... DJ - The National Association of Home Builders' index for sales of new, single-family homes fell to 57 in December, its lowest level since April 2003, from a revised 61 in November, according to data released Monday.

The index in November was previously reported at 60.

When the Housing Market Index is over 50, it means the number of builders who see "good" sales outnumber those who see "poor" sales.

Jonathan Levinson : 12/19/2005 1:27:05 PM

QQQQ - Stop Loss Adjustment Alert -

QQQQ long from 41.35, move stop to breakeven

Jeff Bailey : 12/19/2005 1:26:19 PM

January Nat. Gas (ng06f) $13.68 +0.34% (30-min delayed) ... eased off of morning highs ($13.85) after National Weather Service forecasted warmer weekly temperatures. NWS forecast map into Wednesday at this Link

Drag you mouse along the Max/Min Temp "Today," "Tonight," "Tue," "Tue Night," "Wed"

Jane Fox : 12/19/2005 1:22:47 PM

THe AD line and AD volume are finally in sync and are quite bearish.

Jonathan Levinson : 12/19/2005 1:19:58 PM

QQQQ - Entry Point Alert -

Long QQQQ at 41.35, stop 41.29

Jonathan Levinson : 12/19/2005 1:16:04 PM

The low a week ago Friday was around 41.38, which level is in play here. The short cycle indicators are oversold but showing no sign of light yet. A break below 41.38 would bring in that 41.20-.25 confluence zone, but would also imply a trending move on the intraday indicators. 15 min chart at this Link

Jeff Bailey : 12/19/2005 1:15:09 PM

Beacon Power (BCON) $1.95 -7.14% ... NASDAQ staff affirms that company has regained compliance.

Jeff Bailey : 12/19/2005 1:11:55 PM

01:00 Internals found at this Link

Jonathan Levinson : 12/19/2005 1:10:18 PM

Session low for QQQQ at 41.43 on a burst of volume, breaching the lower 30 min channel bottom on the break back below S1: Link

Jonathan Levinson : 12/19/2005 1:06:43 PM

Foreign central banks took 11.3B of the 30.67B in 13- and 26-week bills auctioned. The 13 week bills sold for a high rate of 3.895% and median rate of 3.87% yielding 3.98%, bid to cover ratio 2.19. The 26 week bills sold for a high rate of 4.22% and median rate of 4.195% yielding 4.372%, bid to cover 2.17. On the 26 week bills, that was a new high for the year on the high-rate.

Jeff Bailey : 12/19/2005 1:04:43 PM

01:00 Market Watch found at this Link

Jonathan Levinson : 12/19/2005 1:03:16 PM

QQQQ breaks rising support and tests 30 min channel support here as the auction results are announced. Update on the way. Link

Jonathan Levinson : 12/19/2005 12:57:50 PM

Awaiting the results of the 13- and 26-week bill auctions in a few minutes. While tomorrow's 4-week auction will refund 13B in maturing debt, today's auctions will raise 3.3B of new debt. That 3.3B is more than offset by the Fed's 7.5B net add, yet neither the treasury nor equity markets are showing any significant signs of strength.

Jeff Bailey : 12/19/2005 12:48:54 PM

S&P 500 Companies Significantly Under Funded for Other Post Employment Benefits (OPEB) ... S&P (12/19/05 Updated pdf format) - Link

Jonathan Levinson : 12/19/2005 12:35:19 PM

Price is coiling very tight for QQQQ between rising support and the 72 SMA at 41.57: Link The cycles offer no clues at all, with everything I follow pointing in different directions. A break of 41.44 or 41.66 should provide a resolution and a discernable trend. So far, the trend varies from one timeframe to another.

Jeff Bailey : 12/19/2005 12:29:53 PM

Google Inc. (GOOG) $443.50 +3.09% Link ... just noticing "bullish triangle" pattern unleashed at $420.00 on Thursday of last week.

Jeff Bailey : 12/19/2005 12:27:58 PM

NDX / QQQQ Top 25 weighted components at this Link ... GOOG Link currently #3 most heavily weighted NDX/QQQQ component!

Jeff Bailey : 12/19/2005 12:11:55 PM

12:00 Internals found at this Link

Jonathan Levinson : 12/19/2005 12:09:32 PM

Crude down .85 at 58.20, 40 cents off the session low, while natgas is up to a 2 cent loss at 13.615.

Jeff Bailey : 12/19/2005 12:04:17 PM

12:00 Market Watch found at this Link

Jonathan Levinson : 12/19/2005 12:01:25 PM

Overall volume is still very light, 27.05M QQQQs traded so far today, the equivalent of a normal session's first hour volume. Breadth remains negative, 1.5 of those shares declining for each advancing.

Jonathan Levinson : 12/19/2005 11:50:40 AM

A wavelet downphase is approaching oversold here, while the short cycle upphase stalls out again- a very weak upphase for the past 2 hours. A failure below the 72 SMA will set up a retest of the lows, with 30 min channel support stabilizing at 41.40: Link

Jane Fox : 12/19/2005 11:43:14 AM

AD line is now making new daily lows at -738 but the AD volume is rising and above 0. Sigh!

Jane Fox : 12/19/2005 11:42:15 AM

One of the best ways I know of to determine a choppy day (other than my trades are not working) is to watch the AD line and volume. When those two are out of sync then you have a very good idea the day will not give you pristine setups.

Jane Fox : 12/19/2005 11:40:06 AM

It must be frustrating to the readers when so many days are choppy and not conducive to great trading but unfortunately that is just the way it is and today is a prime example.

Jeff Bailey : 12/19/2005 11:37:01 AM

NASDAQ-100 Changes sorted by Market Cap at this Link

Jonathan Levinson : 12/19/2005 11:36:36 AM

Volume breadth is down to +1.07:1 on the NYSE, up to -1.16:1 on the Nasdaq.

Jonathan Levinson : 12/19/2005 11:31:24 AM

QQQQ still testing 72 SMA resistance here, the short cycle back to its weak upphase: Link

Jeff Bailey : 12/19/2005 11:23:41 AM

Hauppauge Digital (HAUP) $5.88 +47% Link ... Company announces the release of its new "Wing" software, enabling consumers to record TV shows on a personal computer for playback on the Sony Playstation Portable (PSP), Apple video iPod, and other portable video players. Wing can also be used to convert existing TV recordings to the PSP and iPod format.

Wing is sold as a $24.95 accessory to Hauppauge's PC-based WinTV-PVR personal video recorders. Live TV shows can be recorded with a single click and played on a PC or TV set as well as a portable video player. Wing records in H.264, MPEG-4 and Divx formats, and also will record directly to a recordable DVD disk.

The Wing application comes with three components: a plug-in for the popular TitanTV internet based electronic program guide for automatic recording of TV shows, a plug-in for Hauppauge's WinTV Scheduler for manual TV record scheduling, and an off-line recorder which will turn MPEG-2 videos into any of the formats supported by Wing.

Jeff Bailey : 12/19/2005 11:20:32 AM

Hauppauge Digital (HAUP) $5.84 +45% ... stock jumps from the $4.25 level in last 25-minutes.

Jeff Bailey : 12/19/2005 11:16:48 AM

11:00 Internals found at this Link

Jonathan Levinson : 12/19/2005 11:10:31 AM

From the Treasury's website:

The Treasury will auction 4-week Treasury bills totaling $11,000 million to refund an estimated $24,000 million of publicly held 4-week Treasury bills maturing December 22, 2005, and to pay down approximately $13,000 million.

That's a net add to the markets of 13B.

Jeff Bailey : 12/19/2005 11:07:36 AM

11:00 Market Watch found at this Link

Jonathan Levinson : 12/19/2005 11:04:49 AM

QQQQ found support at 41.50 as the wavelet cycle reached overbought. The reverse h&s was nearly invalidated, certainly distorted, and the action looks far less bullish than it would have had the 41.55 level held. The short cycle upphase is stalled, ditto the 30 min cycle downphase, while the 60 min continues to point lower. This is still a mess, but the bias remains bearish below the 72 SMA at 41.63. Link

Jane Fox : 12/19/2005 11:00:56 AM

Unfortunately the VIX is not confirming the bearishness in the AD line and volume so it is still a good time to stay on the sidelines. Link

Jane Fox : 12/19/2005 10:58:54 AM

AD volume is now dipping to new daily lows and below 0 as the AD line tests its daily lows. Still choppy but the bears are gaining Mo Mo.

Jonathan Levinson : 12/19/2005 10:54:57 AM

Need to step away for ten minutes.

Jane Fox : 12/19/2005 10:51:51 AM

Dateline WSJ In a deal that could pose a new threat to cable and phone companies, Current Communications Group LLC and TXU Electric Delivery, a unit of TXU Corp., said they plan to offer high-speed Internet over electric power lines to more than two million customers in Texas.

The move marks the biggest deployment of broadband over power lines in the U.S.

Customers who subscribe will be able to plug a device about the size of a cellphone into an electrical outlet and connect a cable from their computer for Internet access that is capable of speeds that are faster than some popular Internet plans from cable and phone companies. Current said it hasn't determined how much it will charge for the new service, but it is scheduled to be offered before the end of 2006.

Jonathan Levinson : 12/19/2005 10:48:16 AM

QQQQ testing right shoulder support here, ticking below it but no deep enough to invalidate the reverse h&s pattern. Below 41.50 would do it, however, and 30 min channel support is down to 41.40 if it fails. Link

Jeff Bailey : 12/19/2005 10:45:43 AM

Merger Arbitrage Spread ... Beverly Enterprises (BEV) $11.84 +0.08% trades at a 5.57% discount to the $12.50 per share cash offer from Fillmore Capital Partners

Expected closing early 2006 01/01/06.

Jonathan Levinson : 12/19/2005 10:52:10 AM

Headlines:

10:40am BUSH SAYS U.S. ECONOMY IS STRONG AND 'GETTING STRONGER'

10:50am BUSH: 'VERY OPTIMISTIC ON WAY FORWARD FOR IRAQI PEOPLE'

Jonathan Levinson : 12/19/2005 10:41:20 AM

Possible reverse h&s here for QQQQ if the left shoulder low at 41.54 holds: Link

Jonathan Levinson : 12/19/2005 10:39:04 AM

Crude oil trades -.50 at a session low of 58.55, natgas -.07 at 13.565 and 3.5 cents off the low. Ten year notes continue to inch higher, TNX -.6 bps at 4.442%. 4.44% is old confluence from the past year. Just past 11AM, we'll receive an update on the 4-week bill auction for this week, and that could make some waves depending on whether the Treasury will be draining (new borrowing) or adding (paying down maturing debt).

Jeff Bailey : 12/19/2005 10:37:44 AM

Merger Arbitrage Spread ... Linen N Things (LIN) $25.32 +0.27% ... trades at a 10.5% discount to the $28 per share offer from Apollo Management

Expected closure is early Q2 03/01/06.

Jeff Bailey : 12/19/2005 10:36:55 AM

Merger Arbitrage Spread ... Abgenix (ABGX) $21.57 +0.23% ... trades at a 4.3% discount to the $22.50 cash offer from Amgen (AMGN) $78.09 -1.13%

Expected closure Q1 2006 02/15/2006.

Jeff Bailey : 12/19/2005 10:36:14 AM

Merger Arbitrage Spread ... Inamed Corp. (IMDC) $86.70 -0.85% ... trades at a 3.1% premium to the $84 cash offer from Allergan (AGN) $107.40 -1.05%.

No expected closure date at this time.

Jane Fox : 12/19/2005 10:28:56 AM

The tajectory of these two is bullish but taking into consideration the negative AD line I wouldn't be rushing into any long positions just yet. Link

Jonathan Levinson : 12/19/2005 10:24:54 AM

Volume breadth is up to +1.4:1 on the NYSE, -1.05:1 on the Nasdaq.

Jonathan Levinson : 12/19/2005 10:23:30 AM

Headline:

10:20am CBOT/SINGAPORE JOINT ASIAN DERIVATIVES EXCHANGE TO OPEN Q3

Jeff Bailey : 12/19/2005 10:22:22 AM

Upgrade ... Citigroup starts Boardwalk Pipeline (BWP) $18.70 -0.10% at "buy."

Jonathan Levinson : 12/19/2005 10:20:49 AM

Ten year note yields have made it up to flat at 4.448%, flatter against the 13-week rate which is up 4.5 bps at 3.877%.

Jonathan Levinson : 12/19/2005 10:18:41 AM

QQQQ breaks back into yesterday's range, the wavelet upphase gaining strength and stalling the oversold short cycle downphase. Link 72 SMA resistance being tested here.

Jeff Bailey : 12/19/2005 10:10:49 AM

10:00 Internals found at this Link

Jonathan Levinson : 12/19/2005 10:05:55 AM

Ten year notes are recovering off their lows, TNX down to a .8 bp loss at 4.456%. Gold and silver continue to work higher, Feb. gold at 511.80, +6 and 30 cents off the high, while silver is up a dime to a session high at 8.705.

Jane Fox : 12/19/2005 10:05:09 AM

VIX just fell to a new daily low but ES is also testing daily lows.

Jeff Bailey : 12/19/2005 10:04:05 AM

10:00 Market Watch found at this Link

Jane Fox : 12/19/2005 10:03:04 AM

This is pretty weird, the AD volume is above 0 and rising but the AD line is bearish -600. Link

Jonathan Levinson : 12/19/2005 9:59:37 AM

QQQQ's 30 min cycle resumed its decline on the opening dip, but there are potential bullish divergences on the short cycle oscillators. Link These have been less reliable than usual in recent weeks, but if the Qs hold above the 41.44 low, the next move would be up on a short cycle basis. If price clears 41.67 at the 72 SMA, the 30 min cycle should turn up to join it.

Jonathan Levinson : 12/19/2005 9:54:05 AM

The Fed announces a 7.5N overnight repo, a net add. The stop out rate was 4.22%, 3 bps below the overnight target rate.

Jonathan Levinson : 12/19/2005 9:53:17 AM

Volume breadth is holding mixed at +1.1:1 on the NYSE, -1.75:1 on the Nasdaq.

Jonathan Levinson : 12/19/2005 9:51:50 AM

The Fed's 6B repo on Friday expires this Thursday, and as a result, any amounts added by the open market desk this morning will be net adds.

Jonathan Levinson : 12/19/2005 9:46:03 AM

QQQQ retests Friday afternoon's double bottom: Link

Jeff Bailey : 12/19/2005 9:49:14 AM

Earnings

Circuit City (CC) $22.15 +4.23% Link ... Marked higher in early morning trade after the electronics retailer reported a larger-than-expected profit in Q3.

The nation's #2 electronics retailer (second to BestBuy (BBY)) said it earned $10.1 million, or $0.06 per share, compared to a loss of $5.9 million, or $-0.03 a share, in the year-ago quarter. Consensus was for earnings of $0.04 a share.

Sales for the recent quarter jumped 15% to $2.91 billion from $2.53 billion on strong TV and Internet sales.

In a separate announcement, the company said its chief executive officer W. Alan McCollough (56), will retire as chief executive on February 28 and as chairman of the board of directors in June.

At a meeting Saturday, Circuit City's board of directors, President Philip J. Schoonover was elected to the board and named CEO effective March 1.

Mr. Schoonover (45) was a former Best Buy executive. Circuit City hired Mr. Schoonover as chief merchandising officer in October 2004 and named him president in February.

Jonathan Levinson : 12/19/2005 9:38:05 AM

Below Friday's low, QQQQ has next confluence support at 41.40, followed by 41.20-25. Link

Jane Fox : 12/19/2005 9:37:28 AM

Based on these charts I am now short (with puts) IWM. Link

Jeff Bailey : 12/19/2005 9:38:07 AM

Merger

Energy supplier FPL Group (FPL) $43.21 +0.60% Link said it was buying rival power-plant operator Constellation Energy Group (CEG) $60.04 -2.56% Link for more than $11 billion in stock. The combined company, to be called Constellation Energy, will have a market capitalization of about $28 billion, revenue of $27 billion and total assets of $57 billion.

Under the terms of the transaction which the companies described as a merger, each share of Constellation Energy held will be converted into 1.444 shares of the combined company, while each FPL Group share will be converted into one share of the new company.

FPL shareholders will own 60% of the combined company, while shareholders of Constellation Energy will own about 40%.

Based on FPL's closing share price of $42.95 on Friday, Constellation's shares would be valued at about $11.07 billion after the deal closes. The companies said Constellation shareholders will be getting a 15% premium over the 20-day closing average price for the period ending December 13.

Jonathan Levinson : 12/19/2005 9:32:39 AM

Volume breadth is +1.6:1 on the NYSE, +1.2:1 on the Nasdaq at the open.

Jonathan Levinson : 12/19/2005 9:32:15 AM

QQQQ tests the 72 SMA at 41.71. 30/60 min channel support is 41.50-41.60, resistance 41.79-.87. Link

Jonathan Levinson : 12/19/2005 9:07:05 AM

QQQQ's currently in an 30/60 min cycle downphase, with the 30 min cycle trying to stall just above oversold territory while the 60 min cycle is working its way lower, halfway through its range. The daily cycle is still stalled in its weak downphase, due to the price heading sideways in a flat range for nearly one month. The op-ex week hangover should continue to impact the price this morning, but after that we can expect a resumption of the usual price cycles. I will update the intraday levels just after the opening bell.

Tab Gilles : 12/19/2005 8:51:19 AM

Pfizer (PFE) Followup to 12/14 2:38 post...

PFE up in pre-market hours... After Friday's news when a federal judge upheld the exclusivity of two of Pfizer's patents related to its Lipitor cholesterol-lowering drug.

Right upto 200-ma Link Link Link

+20 Year Treasury Bond Fund iShare (TLT) 60 minute... Link daily.... Link testing 100-ma

Two calls March 89 TLTCK Link & June 90 TLTFL Link

Jonathan Levinson : 12/19/2005 8:50:34 AM

And as Chancy Gardener...

Jonathan Levinson : 12/19/2005 8:47:13 AM

Remember Sellers in The Party? "Birdie-birdie num-num..."

Jane Fox : 12/19/2005 8:43:25 AM

Dateline WSJ FPL announced an $11 billion acquisition of Constellation Energy in an all-stock deal that will create a large energy concern with regulated and unregulated power assets in more than half the states of the U.S.

Jonathan Levinson : 12/19/2005 8:39:44 AM

ZN bonds are now down 7/64 to 108 31/32, TNX up 1.2 bps to 4.46%. QQQQ has settled down 2 cents to an 11 cent gain at 41.69.

Jonathan Levinson : 12/19/2005 8:24:36 AM

Ten year notes have flipped to a light gain, but TNX is still quoted higher by .6 bps at 4.454% for the cash open.

Jonathan Levinson : 12/19/2005 7:38:17 AM

Equities are up, ES trading 1278.5, NQ 1713.5, YM 10959 and QQQQ +.13 to 41.71. Gold is up 4.8 to 510.60, silver is up .066 to 8.671, ten year notes are down 1/64 to 109 3/64, crude oil is up .30 to 59.35 and natgas is up .31 to 13.945.

There are no major economic reports scheduled for release today.

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