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OI Technical Staff : 1/19/2006 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The Market Monitor has been archived.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 : 1/19/2006 7:23:34 PM

Cement stocks snapshot Link

Jeff Bailey : 1/19/2006 6:44:33 PM

How CX ranks against other "cement" companies at this Link

Jeff Bailey : 1/19/2006 6:42:14 PM

Lafarge N. America (LAF) $58.81 +2.15% Link ...

Jeff Bailey : 1/19/2006 6:41:05 PM

Hanson PLC (HAN) $55.35 +0.72% Link ...

Jeff Bailey : 1/19/2006 6:39:29 PM

Rinker Group (RIN) $60.42 +0.70% Link ...

Jeff Bailey : 1/19/2006 6:38:09 PM

CRH, PLC (CRHCY) $31.99 +1.55% Link ...

Jeff Bailey : 1/19/2006 6:36:47 PM

Florida Rock (FRK) $50.00 +0.06% Link ...

Jeff Bailey : 1/19/2006 6:19:04 PM

Cemex (CX) $62.72 +2.80% Link ... Surging to $65.00 in extended trade.

Company saying it will get $100 million cash as a result of U.S.-Mexican cement pact.

Late this afternoon the U.S. Govt. said it would let Mexico export more cement to the U.S. and lower tariffs. The quota on U.S. imports of Mexican cement set at 3M MT/Yr (metric tons/year). 3-year Mexico/U.S. import tariff at $3/MT, down substantially from the current $26.28 per metric ton tariff.

Jeff Bailey : 1/19/2006 5:55:25 PM

Current OPEN MM Profiles found at this Link

Today's Activity ... Day traded long shares of Apple Computer (AAPL) at the offer of $79.22, stopped at $79.50 ($+0.28, or +0.35%).

Jeff Bailey : 1/19/2006 5:41:03 PM

Closing Internals found at this Link

Jeff Bailey : 1/19/2006 5:25:17 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 1/19/2006 5:18:52 PM

Motorola (MOT) update $24.35 +4.32% .... ticking $22.70. Extended session low has been $22.53

Jeff Bailey : 1/19/2006 5:16:49 PM

City of Los Angeles, CA ... DJ via CNN - Increased police presence at LAX.

Although there is no known direct threat to the city, the mayor of Los Angeles said Thursday that additional police resources were being deployed at the Los Angeles International Airport, Cable News Network reported.

Jeff Bailey : 1/19/2006 5:14:44 PM

Cree Inc. (CREE) $28.63 +4.52% Link ... Lower at $27.00 on headline numbers.

Press Release Link

Jeff Bailey : 1/19/2006 5:12:54 PM

Greenspan ... Condemns House GSE bill as failing on all fronts.

Jeff Bailey : 1/19/2006 5:12:10 PM

Matrixx Initiatives (MTXX) $22.60 +4.96% Link ... Jumps to $23.36 on headline that 340 Arizona plaintiffs dismiss suit over Zicam.

Jeff Bailey : 1/19/2006 5:07:23 PM

Molex Inc. (MOLX) $28.80 +4.76% Link ... higher at $29.30 on headine numbers.

Press Release Link

Jeff Bailey : 1/19/2006 5:05:35 PM

Capital One (COF) $85.52 -0.66% Link ... $85.22 on headline numbers.

Press Release Link

Jeff Bailey : 1/19/2006 4:58:14 PM

ElkCorp. (ELK) $36.88 +2.35% Link ... Ticks higher at $37.30 on headline numbers.

Press Release Link

Consensus was $0.52 a share

Jeff Bailey : 1/19/2006 4:53:42 PM

Huntington Bancshares (HBAN) $23.27 +0.04% Link ... DJ - Huntington Bancshares Inc. (HBAN) on Thursday withdrew a shelf registration for $750 million of mixed securities it filed in July 2005.

The Columbus, Ohio, bank holding company originally filed the shelf registration with the Securities and Exchange Commission on July 26, 2005, to sell up to $750 million in common stock, preferred stock and debt securities.

Huntington Bancshares didn't disclose the reason for the withdrawal in Thursday's filing.

Comment: There has been chatter for several months that HBAN is a potential acquisition target.

Jeff Bailey : 1/19/2006 4:47:45 PM

Imation (IMN) $45.60 -0.28% Link ... jumps to $47.97 on headline numbers. Agrees to buy Memorex.

Press Release Link

Jeff Bailey : 1/19/2006 4:39:40 PM

Xilinx (XLNX) $29.79 +3.43% Link ... lower at $27.69 on headline numbers.

Press Release at this Link

Jeff Bailey : 1/19/2006 4:14:38 PM

Motorola (MOT) $24.35 +4.32% Link ... lower at $23.01 on headline numbers.

Press Release at this Link

Jeff Bailey : 1/19/2006 4:04:21 PM

Sell Program Premium ... DIA $108.77 , SPY $128.34

Jeff Bailey : 1/19/2006 4:03:14 PM

03:12 PM EST Temperatures with February Nat. Gas and Heating Oil futures settlement at this Link

February Unleaded settled up $0.0027, or 0.15% at $1.7760.

February Crude Oil settled up $1.10, or 1.67% at $66.83.

Jonathan Levinson : 1/19/2006 3:45:16 PM

QQQQ printed a higher low and higher high today, a violation of the strict daily cycle downphase but still holding within the decline from last week's high. The daily cycle indicators hesitated on today's print, but continue to suggest the opening stages of a new downphase in play. Link

Jonathan Levinson : 1/19/2006 3:39:11 PM

Volume breadth +2.85:1 on the NYSE, +2.25:1 on the Nasdaq- the Nasdaq showing weaker than the NYSE after outpacing it strongly all day.

Jeff Bailey : 1/19/2006 3:29:31 PM

I didn't have time this week to look for an "Option Manipulation Game" trade for tomorrow's expiration.

Jeff Bailey : 1/19/2006 3:14:29 PM

Current OPEN MM Profiles update .... AMR $20.29 +8.44%, EP $13.68 +2.54%, AL $43.00 +1.22%

My portfolio tracker was "wiped out" today. Will rebuild it for the close.

Jeff Bailey : 1/19/2006 3:12:28 PM

03:00 Internals found at this Link

Jonathan Levinson : 1/19/2006 3:09:20 PM

QQQQ tests 30 min channel support here at 42.52. Unless it bounces back above the 42.60 area within the coming minutes, we're looking at confirmation of a new 30 min cycle downphase. Link

Jonathan Levinson : 1/19/2006 3:06:21 PM

Volume breadth is +2.95:1 on the NYSE, +2.5:1 on the Nasdaq, still quite strong but off their highs.

Jeff Bailey : 1/19/2006 3:03:10 PM

03:00 Market Watch found at this Link

Jeff Bailey : 1/19/2006 3:00:30 PM

Bullish day trade stop alert ... for Apple Computer (AAPL) $79.50

Jonathan Levinson : 1/19/2006 2:44:57 PM

QQQQ's wavelet is trying to bottom here, the short cycle still in the early stages of its roll. 30 min channel support is at 42.53. But because the 30 min cycle was maxxed out on the upside and is now stalled, a break below the 42.60 72 SMA should see that cycle begin its downphase, potentially for several hours (and points) to come. But bears will need to take out those support levels- a sideways drift won't cut it. Link

Jim Brown : 1/19/2006 2:41:35 PM

The sellers have no conviction. The dip buyers are trying to make it difficult for the bears.

Jim Brown : 1/19/2006 2:32:55 PM

Jonathan, too bad about your short. I think you had the right idea. I am short the Russell futures from 719 and will be adding to my position as the decline accelerates under 718. Far too many earnings problems and too few winners. I believe this morning was a short squeeze that has run its course.

Jonathan Levinson : 1/19/2006 2:31:54 PM

SAN FRANCISCO (MarketWatch) -- Google Inc. said that it will "vigorously" resist an attempt by the Bush administration to force the company to turn over information that would allow Justice Department lawyers to find out what consumers are searching for on the Internet.

GOOG down over 1%, just off a low of 438.01.

Jeff Bailey : 1/19/2006 2:30:24 PM

Day trader's chart alert #2 (correction to 02:05:59) ... I ran a Excel conventional pivot calculation.

Please disregard my 02:05:59 alert. My Excel calculated WEEKLY Pivot levels are very close to the day trader's chart and QCharts' WEEKLY Pivot analysis levels shows earlier today.

STOP for AAPL day trade long should still be raised to $79.50. Need the strength above DAILY S2 to have shot at $82.00 target.

Jeff Bailey : 1/19/2006 2:15:28 PM

02:00 Internals found at this Link

Jonathan Levinson : 1/19/2006 2:11:08 PM

No traction on the short, and the wavelet rollover whipsawed on that most recent buy program. This remains an area of confluence and 30 min cycle resistance, but the tape feels too strong on what should be a rollover. Link

Jonathan Levinson : 1/19/2006 2:09:46 PM

QQQQ - Exit Point Alert -

Out QQQQ at 42.77, -.01

Jeff Bailey : 1/19/2006 2:05:59 PM

Day trader's chart alert ... My QCharts have been giving me problems today!

It now appears that AAPL's WEEKLY S1 is/was $80.22, not $78.74 as previosly shown!

This new observation now marks a "zone of resistance" from $80.22 to DAILY S2 $80.59.

AAPL $79.90 ...

Jeff Bailey : 1/19/2006 2:03:36 PM

Bullish day trade raise stop alert ... for Apple Computer (AAPL) to $79.50.

Jeff Bailey : 1/19/2006 2:02:05 PM

02:00 Market Watch found at this Link

Jonathan Levinson : 1/19/2006 1:52:08 PM

My colleague's disagreement with my analysis is duly noted for the second time today.

Jonathan Levinson : 1/19/2006 1:51:43 PM

Stop goes right above rising 30 min channel resistance and R2: Link

Jeff Bailey : 1/19/2006 1:51:13 PM

QQQQ ... should go out at highs of the session.

Jonathan Levinson : 1/19/2006 1:50:39 PM

QQQQ - Entry Point Alert -

Short QQQQ at 42.76 stop 42.82

Jeff Bailey : 1/19/2006 1:47:53 PM

Midday News Update:

The major indices regained some of their bullish enthusiasm today with a blow out quarter from Advanced Micro Devices (AMD) $37.23 +11.56% igniting buying among chips with the Semiconductor Index (SOX.X) 537.00 +3.49% one of today's sector winners.

Shares of Intel (INTC) $22.62 +0.08% are fractionally higher and atop today's list of most actives with just over 90 million shares trading hands.

Dow component Walt Disney Company (DIS) $26.02 +3.17% jumped 80 cents after The Wall Street Journal reported the company was in serious talks to buy NASDAQ-100 component Pixar (PIXR) $59.65 +4.17%.

The gains for Pixar as well as chip-related strength helped boost the NASDAQ-100 Tracker (QQQQ) $42.70 +1.16%.

Homebuilders as depicted by the Dow Jones Home Construction Index (DJUSHB) 978.20 -0.70% shed 7 points with U.S. housing starts falling 8.9% to a seasonally adjusted 1.933 million annual rate in December as builders grow cautious amid softening demand.

Homebuilder DR Horton (DHI) $39.26 -1.38% is off 55 cents, while Beazer Homes (BZH) $78.06 +0.60% gains 47 cents. Each reported a 29% jump in fiscal Q1 earnings and exceeded analysts' estimates. However, order trends among the two indicated different outlooks.

Weekly EIA data showed continued declines in capacity and that also put a strong bid under oil service shares. The Oil Service Index (OSX.X) 209.94 +3.46% surges to record highs.

Also providing a bid to the group was Al-Jazeera airing an audiotape purportedly from Osama bin Laden saying al-Qaida is making preparations for attacks in the U.S. but offering a truce 'with fair conditions' to build Iraq and Afghanistan.

Economic data showed weekly jobless claims falling by 36,000 to 271,000, the lowest level in almost six years.

Additional economic news had the Philadelphia Fed business index falling to a reading of 3.3 in January from 10.9 in December, but new orders and employment components rose sharply. Prices paid and prices received retreat from very high levels in Q4.

Jonathan Levinson : 1/19/2006 1:39:14 PM

QQQQ is back to where we got stopped out of the short at 42.65, the wavelet hitting the bottom of its range as the short cycle rollos over. A break back into the bear flag will rule this last stage of the bounce as a throwover. Below 42.50, the 30-min cycle bias will shift to the downside. Link

Jonathan Levinson : 1/19/2006 1:22:32 PM

NEW YORK (AP) -- Computer problems at the Nasdaq Stock Market led to erroneous stock quotes on a number of major online financial news sites and brokerages Thursday, potentially leading individual investors around the world to believe that a stock was up when it was really down, or vice versa.

The errors that occurred Wednesday also prevented approximately 81,000 trades from being reported in the last minutes of the session, possibly leading to investors, both institutional and individual, from receiving the best listed price for their transactions.

The stocks affected are all listed on the New York Stock Exchange, but were traded electronically on the Nasdaq's computer platform. Nasdaq is responsible for reporting those trades to a consolidated listing service so investors can see the latest price for a given stock, whether it was traded on the floor of the NYSE or through Nasdaq's computers.

Due to the computer errors, however, individual investors using popular financial sites like MSN Money or Yahoo Finance were seeing inaccurate price swings Thursday. Customers of online brokerages E-Trade and Charles Schwab also saw erroneous stock quotes from their homepages, though it was unclear whether logged-in customers were receiving the same errors.

Link

Jeff Bailey : 1/19/2006 1:15:53 PM

01:00 Internals found at this Link

Jonathan Levinson : 1/19/2006 1:08:32 PM

QQQQ tests R2 here, now clearly in an overbought short cycle trending move. Current high matches the intraday high from Tuesday. Link

Jeff Bailey : 1/19/2006 1:06:44 PM

01:00 Market Watch found at this Link

Jonathan Levinson : 1/19/2006 1:05:16 PM

Volume breadth +3:1 on the NYSE, +3.75:1 on the Nasdaq.

Jeff Bailey : 1/19/2006 1:03:08 PM

AAPL $80.26 here

Jeff Bailey : 1/19/2006 1:02:13 PM

Day trader long 1,000 shares of AAPL from $79.22, I'd probably take 500 off the table at this point.

Just under DAILY S2 and 61.8% dynamic.

If SOX can power above WEEKLY R1, then the shot at bearish worms leaving in droves to $82.00 target.

Jonathan Levinson : 1/19/2006 12:58:18 PM

QQQQ holding above rising flag resistance, still printing above the 30 min channel top. It's either the start of a trending move/meltup, or a throwover. The daily cycle downphase suggests the former, but price will tell us soon enough, with Tuesday's range being tested. Link

Jeff Bailey : 1/19/2006 12:55:15 PM

QQQQ $42.67 ... DAILY R2 here (conventional)

Jeff Bailey : 1/19/2006 12:53:37 PM

SOX.X 536.62 +3.41% .... Huge move today and for first time this week, exceeds WEEKLY Pivot (528.17). WEEKLY R1 537.40 is destiny.

Jonathan Levinson : 1/19/2006 12:51:42 PM

QQQQ - Exit Point Alert -

Stopped Out QQQQ at 42.65, -.08

Jonathan Levinson : 1/19/2006 12:38:53 PM

QQQQ returns to rising trendline and 30 min channel support. Our 42.65 stop is right where we want it- no higher than necessary, just above the cluster of resistance bands and lines: Link

Jonathan Levinson : 1/19/2006 12:28:04 PM

Stepping away for 10 minutes.

Jeff Bailey : 1/19/2006 12:25:29 PM

Bullish day trade raise stop alert ... for Apple Computer (AAPL) to $79.22.

AAPL $80.01 here.

Jeff Bailey : 1/19/2006 12:17:18 PM

12:00 Internals found at this Link

Jeff Bailey : 1/19/2006 12:12:59 PM

QQQQ should go out at high of day.

Jonathan Levinson : 1/19/2006 12:08:47 PM

Shorting against flag and intraday channel resistance combined with toppy short cycle indicators- tight stop goes right above R1 and the trendline: Link

Jonathan Levinson : 1/19/2006 12:07:11 PM

QQQQ - Entry Point Alert -

Short QQQQ at 42.57 stop 42.65

Jonathan Levinson : 1/19/2006 12:04:49 PM

Headlines:

U.S JAN. PHILLY FED NEW ORDERS 11.1 VS. 5.8 IN DEC.

U.S JAN. PHILLY FED SHIPMENTS 18.6 VS. 9.4 IN DEC.

U.S JAN. PHILLY FED EMPLOYMENT 11.7 VS. 7.9 IN DEC.

Jeff Bailey : 1/19/2006 12:02:58 PM

12:00 Market Watch found at this Link

Jonathan Levinson : 1/19/2006 12:03:07 PM

Ten year note yields +1.3 bps here at 4.353%, IRX -1.7 bps to 4.23%. Daily TNX chart at this Link

Jonathan Levinson : 1/19/2006 12:01:28 PM

Headlines:

12:00pm U.S. JAN. PHILLY FED BELOW CONSENSUS 12.0

12:00pm U.S. JAN. PHILLY FED 3.3 VS.10.9 IN DEC.

Jonathan Levinson : 1/19/2006 12:00:20 PM

QQQQ just printed a new high at 42.50, breaking yesterday's high. 30 min channel resistance overlaps rising bear flag resistance at 42.58: Link

Jeff Bailey : 1/19/2006 11:56:46 AM

AAPL $79.41 -3.73% ... day trader's chart at this Link

Jeff Bailey : 1/19/2006 11:48:30 AM

Target Correction alert ... Bullish day trade target for Apple Computer (AAPL) is $82.00 (not $83.00 as typed at 11:38:39 AM EST)

Jonathan Levinson : 1/19/2006 11:42:24 AM

QQQQ's short cycle indicators are still a choppy mess, but the wavelet cycle has been tracking the smaller moves and is trying to top out here. Zooming out, the downtrend from last week has not been violated and the current bounce could well prove to be a bear flag. Bulls need to crack 42.62 to invalidate the pattern. Link

Jeff Bailey : 1/19/2006 11:38:39 AM

Bullish day trade long alert ... for Apple Computer (AAPL) $79.22 here, stop $77.90, target $83.00

Jonathan Levinson : 1/19/2006 11:33:38 AM

Volume breadth holds +2:1 on the NYSE, +3.15:1 on the Nasdaq.

Jeff Bailey : 1/19/2006 11:14:52 AM

11:00 Internals found at this Link

Jeff Bailey : 1/19/2006 11:05:20 AM

El Paso Corp. (EP) $13.49 +1.04% ... challenges yesterday's highs.

Jeff Bailey : 1/19/2006 11:04:15 AM

11:00 Market Watch found at this Link

Jonathan Levinson : 1/19/2006 11:02:27 AM

Need to step away for 20 minutes.

Jeff Bailey : 1/19/2006 11:00:05 AM

EIA Weekly Crude Oil, Gasoline, Distillate, Nat. Gas Inventory Table found at this Link

Jonathan Levinson : 1/19/2006 10:56:53 AM

Volume breadth is down to +2:1 on the NYSE, +4.8:1 on the Nasdaq, still very strong on both exchanges.

Jeff Bailey : 1/19/2006 10:53:55 AM

EIA Regional Nat. Gas Storage Table found at this Link

Jane Fox : 1/19/2006 10:47:58 AM

TICKS +1000 are supporting the bullish AD line and volume

Jane Fox : 1/19/2006 10:46:19 AM

Al-Quesadilla - that is good Jonathan and I think you spelt it correctly as well.

Jonathan Levinson : 1/19/2006 10:43:09 AM

Sure is nice to see the markets yawning at this latest re-run from Al-Quesadilla. Times have changed for the better.

Jane Fox : 1/19/2006 10:41:36 AM

The little piece of news from Al-Jazeera didn't affect the market at all.

Jeff Bailey : 1/19/2006 10:39:41 AM

Sunoco (SUN) $89.22 +1.13% ...

Jeff Bailey : 1/19/2006 10:38:54 AM

Valero (VLO) $59.63 -0.05% ...

Jeff Bailey : 1/19/2006 10:38:29 AM

EIA Weekly Gross Inputs, Operable Capacity, Pct. Utilization of Op. Capacity Table found at this Link ... Looks bullish for refiners and refined products.

Jane Fox : 1/19/2006 10:38:16 AM

DAteline CNN Al-Jazeera airs audiotaped message purportedly from Osama bin Laden warning that plans for attacks inside U.S. are under way.

Jonathan Levinson : 1/19/2006 10:36:00 AM

Headlines still coming out:

10:34am OSAMA BIN LADEN SAID TO WARN OF NEW ATTACKS IN U.S. -REPORTS

Jonathan Levinson : 1/19/2006 10:35:11 AM

QQQQ is back to its short cycle high, in a trending, toppy move, complete with bearish oscillator divergences. This should break south, but the fact that it has not yet done so is troublesome- if it's too easy to get a "good" entry, the chances are that the entry isn't so good. Or, of course, it could be a minor short cycle distribution top building. Link

Jonathan Levinson : 1/19/2006 10:31:58 AM

Headline:

10:31am DOE: NATURAL GAS SUPPLIES DECLINE 46 BILLION CUBIC FEET

Jonathan Levinson : 1/19/2006 10:31:33 AM

Feb. crude oil is down ,35 at 65.375 here, natgas -.23 to a session low of 8.465.

Jonathan Levinson : 1/19/2006 10:30:31 AM

Natgas data from the EIA:

Working gas in storage was 2,575 Bcf as of Friday, January 13, 2006, according to EIA estimates. This represents a net decline of 46 Bcf from the previous week. Stocks were 59 Bcf higher than last year at this time and 361 Bcf above the 5-year average of 2,214 Bcf. In the East Region, stocks were 172 Bcf above the 5-year average following net withdrawals of 31 Bcf. Stocks in the Producing Region were 119 Bcf above the 5-year average of 633 Bcf after a net withdrawal of 8 Bcf. Stocks in the West Region were 70 Bcf above the 5-year average after a net drawdown of 7 Bcf. At 2,575 Bcf, total working gas is within the 5-year historical range.

Jonathan Levinson : 1/19/2006 10:30:10 AM

From the EIA website:

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.7 million barrels from the previous week. At 321.4 million barrels, U.S. crude oil inventories remain well above the upper end of the average range for this time of year. Total motor gasoline inventories rose by 2.8 million barrels last week, putting them in the upper half of the average range. Distillate fuel inventories increased by 0.9 million barrels last week, and are just above the upper end of the average range for this time of year. The increase was in high-sulfur distillate fuel (heating oil) inventories, as low-sulfur distillate fuel (diesel fuel) inventories were relatively flat compared to the previous week's level. Total commercial petroleum inventories jumped by 5.2 million barrels last week, and remain above the upper end of the average range for this time of year.

Jonathan Levinson : 1/19/2006 10:27:38 AM

Awaiting the natgas and oil inventory data in 3 mins.

Jonathan Levinson : 1/19/2006 10:24:32 AM

More detail on the al-Quaeda news:

CAIRO, Egypt -- Al-Jazeera has aired an audiotape purportedly from Osama bin Laden, saying al-Qaida is making preparations for attacks in the United States but offering a truce to rebuild Iraq and Afghanistan.

Link

Jeff Bailey : 1/19/2006 10:24:20 AM

Lam Research (LRCX) $42.90 +11.92% Link ... Q4 beats Wall Street estimates

Jonathan Levinson : 1/19/2006 10:21:03 AM

Headline:

10:20am BUSH: ECONOMIC GROWTH BEST WAY TO CUT DEFICIT

Jeff Bailey : 1/19/2006 10:20:54 AM

White House ... Italy pullout from Iraq a sign of progress.

Jonathan Levinson : 1/19/2006 10:20:25 AM

Bin Laden warns of new attacks inside US: Al Jazeera

(Reuters) - Warning comes in audio tape, the TV network says. Bin Laden says new attacks are under preparation, Al Jazeera says. Details to follow.

Link

Jeff Bailey : 1/19/2006 10:16:15 AM

10:00 Internals found at this Link

Yesterday's Internals found at this Link

Jonathan Levinson : 1/19/2006 10:16:08 AM

Volume breadth is +2.32:1 on the NYSE, +5.5:1 on the Nasdaq, a very strong sustained reading.

Jonathan Levinson : 1/19/2006 10:13:45 AM

No traction for the short cycle downphase, and the wavelet has just ticked up from oversold. QQQQ bears need a break below 42.25 to stall the 30 min cycle upphase: Link

Jonathan Levinson : 1/19/2006 10:10:24 AM

A surprise gift from the Fed announced late just now, a 13B overnight repo, which brings the net drain to a net add for the day, 8.75B in total.

Jonathan Levinson : 1/19/2006 10:04:39 AM

Feb. crude is down .075 at 65.65 here, off a low of 65.475.

Jeff Bailey : 1/19/2006 10:04:28 AM

10:00 Market Watch found at this Link

Jonathan Levinson : 1/19/2006 10:03:34 AM

Still awaiting the EIA in half an hour.

Jonathan Levinson : 1/19/2006 10:02:37 AM

API data: Headlines:

U.S. DEC CRUDE OIL STOCKS FALL 1.2% TO 320.1MLN BARRELS: API

U.S. DEC. GASOLINE STOCKS RISE 0.7% TO 206.8MLN BARRELS: API

U.S. 2005 CRUDE OIL STOCKS UP 12% Y-O-Y: API

U.S. 2005 CRUDE OIL PRODUCTION DOWN 6.6%: API

U.S. 2005 U.S. PETROLEUM DELIVERIES DOWN 0.6%: API

U.S. 2005 GASOLINE IMPORTS UP 20% TO MORE THAN 1MBD: API

Jonathan Levinson : 1/19/2006 9:57:08 AM

The Fed won't be adding a short term repo to follow up its earlier 14-day, resulting in a net drain of 5.25B for the day.

Jeff Bailey : 1/19/2006 9:56:32 AM

Lehman Bros. (LEH) $135.39 +1.59% Link ... Raises annual dividend to $0.96 per share from $0.80.

Jeff Bailey : 1/19/2006 9:53:54 AM

Copa Holdings (CPA) $23.47 +2.71% Link ... UBS upgrades from "reduce" to "neutral."

Jonathan Levinson : 1/19/2006 9:48:38 AM

QQQQ is in a potential short cycle topping zone. This is just above the last short cycle high at 2:30 yesterday. Added strength could come from the 30 min cycle which continues to rise, but 42.50 should be tough resistance above. Link

Jonathan Levinson : 1/19/2006 9:38:52 AM

Note that we will get the EIA crude inventory and natural gas storage reports at 10:30AM today.

Jonathan Levinson : 1/19/2006 9:36:20 AM

QQQQ came close but didn't challenge yesterday's high in the premarket. 30 min channel resistance coincides with that high currently: Link

Jonathan Levinson : 1/19/2006 9:31:34 AM

Volume breadth is +3.15:1 on the NYSE, +5.45:1 on the Nasdaq at the open.

Jonathan Levinson : 1/19/2006 9:31:03 AM

QQQQ's 72 SMA support is at 42.20 , 30/60 min channel support at 41.95-42.06 , and 30/60 min channel resistance at 42.40-42.46 .

Jeff Bailey : 1/19/2006 9:28:21 AM

Program Trading Levels ... HL Camp & Company has their computers set for program buying at $+6.12 and set for program selling at $+3.80.

Jonathan Levinson : 1/19/2006 9:11:01 AM

QQQQ's current bounce is lifting the 30 min cycle, now 2/3 of the way through its upphase, while the 60 min cycle continues to languish at the bottom of its range. If QQQQ bulls can hold these gains, a 60 min cycle upphase could add boosters to the gains from yesterday's close. However, the downturn in the daily cycle will try to keep a lid on the gains. I will update the intraday levels at the opening bell.

Jonathan Levinson : 1/19/2006 8:51:52 AM

The Fed has 13.25B in various repos expiring today and has just announced an 8B 14-day repo, leaving 5.25B to cover in the short term announcement at 10AM.

Jonathan Levinson : 1/19/2006 8:38:45 AM

Jan. 19 (Bloomberg) -- The Tokyo Stock Exchange sent a message for investors to stop trading so much if they want the world's second-largest stock market to stay open.

The exchange will reduce the trading day by 30 minutes, starting today.

The strategy may backfire based on what happened yesterday, said Professor Neil Katkov, head of research in Asia for Celent LLC, a Boston-based financial technology consulting firm.

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Jonathan Levinson : 1/19/2006 8:34:14 AM

Equities like the data, QQQQ now up .23 to 42.44, NQ at 1737. Ten year notes are down 17/64 here at 109 1/2.

Jonathan Levinson : 1/19/2006 8:33:29 AM

Headlines:

U.S. DEC. HOUSING STARTS LOWEST SINCE MARCH

U.S. 4-WEEK AVG. JOBLESS CLAIMS DOWN 12,000 TO 299,000

U.S. CONTINUING JOBLESS CLAIMS DOWN 158,000 TO 2.53 MLN

Jonathan Levinson : 1/19/2006 8:32:47 AM

Headlines:

8:30am U.S. DEC. SINGLE-FAMILY BUILDING PERMITS FALL 5% TO 1.637M

8:30am U.S. DEC. SINGLE-FAMILY STARTS FALL 12.3% TO 1.577M

8:30am U.S. DEC. HOUSING STARTS LOWEST SINCE MARCH

8:30am U.S. 2005 SINGLE-FAMILY HOUSING STARTS RECORD 1.714M

8:30am U.S. 2005 HOUSING STARTS RISE 3.4% TO 2.065M

8:30am U.S. DEC. BUILDING PERMITS DOWN 4.4% TO 2.068M PACE

8:30am U.S. DEC. HOUSING STARTS FALL 8.9% TO 1.933M ANNUAL PACE

Jonathan Levinson : 1/19/2006 8:22:10 AM

Ten year notes have edged lower as equities advance approaching the 8:30 data. TNX is up 2.3 bps to 4.363%, steeper against IRX which is up .5 bps to 4.252%.

Jonathan Levinson : 1/19/2006 7:53:43 AM

We await the 8:30 releases of Housing Starts and Building Permits, est. 2.035M and 2.1M respectively, Initial Claims, est. 315K, then at 10:30, the EIA Petrol report and at noon the Philly Fed, est. 13.

Jonathan Levinson : 1/19/2006 7:52:27 AM

Equities are up, ES trading 1285.75, NQ 1731, YM 10912 and QQQQ +.1 at 42.31. Ten year notes are down 13/64 to 109 9/16, gold is up 4.30 to 548.70, silver is up .106 to 8.97, crude oil is up a dime to 65.825 and natgas is flat at 8.695.

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