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Jeff Bailey : 2/6/2006 11:51:12 PM

e-mini NASDAQ (nq06h) ... 15-minute interval chart with QCharts' conventional WEEKLY Pivot Levels at this Link

Gives traders an idea of how market participants are trading various levels.

Jeff Bailey : 2/6/2006 11:32:23 PM

e-mini NASDAQ (nq06h) ... for the QQQQ, this is perhaps the "best explanation" for today's stability. e-mini NASDAQ at this Link

Jeff Bailey : 2/6/2006 10:33:34 PM

Question ... Dear Jeff B. and Jon L.,

Would you please send me some guidance on trading with you on MM for your swing trades, qqqq etc.

Jon, I would like to know about the technicals you are refering to as you follow the qqqq for a setup so I can get up to speed to trade with you. I assume you are using only options for the qqqq.

Jeff, could you please give me the same info for the MM open profiles and clarify what benchmark refers to.

Reply I'm currently following a QQQQ Mar $43 Put trade I profiled on 01/27/06, which I have been updating traders on continually in the MM.

I'm targeting $2.65 on this option, with a profit stop at $2.00.

In Friday afternoon's MM, I alerted traders to multiple levels of correlative support at QQQQ $40.35, thus my target of support from which I would like to exit these puts.

I tend to "buy more time" than I think I need, in order to give a trade time to work toward my goal.

I try my best to EXPLAIN why I profile any specific trade. Techncial factors, indicators to monitor (yield curve, energy prices, dollar, pivot levels, supply/demand, whatever I feel is "in play" at the time of profile. Then I follow that scenario) Recently I profiled a BULLISH Call option trade on the Regional Bank HOLDRs with the thought the YIELD curve would steepend. The curve did steepen, we made some money on the trade, but the curve began to flatten and we CLOSED the trade for a gain.

"Benchmark" is just that. It is a benchmark as to where the underlying security was trading at the time of my initial OPTION profile. This gives traders a date/price reference point for when the OPTION was profiled. This can be helpful when factoring in VOLATILITY measures (i.e. VIX, VXN, VXO) as well as various observations I may have been making at the time of profile for the scenario at play.

For the AMR Corp. (AMR) trade and the AMR Feb $11 Puts (AMR-NM) you will find that trade (as wrong as it is) in the 09/27/05 MM. What happened here is that after Hurricane Katrina and Rita passed, jet fuel prices fell sharply. I did profile a swing trade short for the underlying shares of AMR back on 01/20/06 and we did make back roughly $270.

For the QQQQ, I usually don't profile QQQQ trades, as this is Jonathan's area of coverage. However, he was sick with the flu and I saw what I felt was an opportunity for a decent bearish trade, thus my profile for put options.

I have also profiled a 1/2 position SHORT ($4,978.19 is 1/2 of $10,000.00) in the UNDERLYING shares of Amazon.com (AMZN) on 02/03/06 at the price of $37.43.

Trade size is up to the individual trader. However, I run my Market Monitor profiles based on a "full position" valued at $10,000.00. At times, based on market conditions, I will suggest 1/4, or 1/3, or 1/2, or 2/3, or 3/4 positions as a way to manage RISK.

I will profile "day trades," which I will usually hold that day only, or close out the next day. I also profile "swing trades," which I plan on holding at least two days, if not more. I have been known to hold a call/put option trade for several MONTHS!

What I hope this does is get traders to understand how to NOT over leverage their trading accounts.

Also, a trader that might normally short 200 shares of the QQQQ at $41.95, based on $10,000.00 equaling a "full position" might then purchase two (2) QQQQ Mar $43 Puts, thus representing 200 shares.

I always try to give TARGETS and STOPS if applicable so that traders can assess reward to target and risk to stopping point.

It is my opinion that a trader/investor should NOT have more than 10% of his/her capital exposed to any one particular security. That is, if you are trading a $100,000.00 account, no more than $10,000.00 would be long/short the QQQQ. If the QQQQ is trading $41.00, then $10,000 / $41 = ~244 shares. For an options trader, 2 contracts = 200 shares. I like to trade in/at the money options contracts whenever possible.

OI Technical Staff : 2/6/2006 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 : 2/6/2006 4:38:21 PM

Closing Internals found at this Link ... Anemic volumes at the NASDAQ and sellers (a/d) look reluctant to let go!

Jeff Bailey : 2/6/2006 4:22:25 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 2/6/2006 4:19:06 PM

Walt Disney (DIS) $24.96 -0.19% Link ... higher at $25.20 on headline numbers.

Earnings Press Release Link

Jeff Bailey : 2/6/2006 4:12:32 PM

Current OPEN MM Profiles found at this Link

Jeff Bailey : 2/6/2006 4:08:20 PM

Buy Program Premium ... DIA $108.04, SPY $126.66

Jeff Bailey : 2/6/2006 4:06:50 PM

Bearish swing trade put establish stop alert for the QQQQ Mar $43 Puts (QQQ-OQ) at $2.00. Target still $2.65 (see today's 11:24:25)

Jeff Bailey : 2/6/2006 4:03:59 PM

QQQQ goes out at $48.81 -0.26% ... Conventional DAILY Pivot Levels for tomorrow are ... $40.38, $40.60, Piv= $40.80, $41.02, $41.22.

Jeff Bailey : 2/6/2006 3:45:58 PM

03:12 PM EST Temperatures with March Nat. Gas and Heating Oil settlements at this Link

March Unleaded settled down $0.0375, or -2.23% at $1.6442.

March Crude Oil settled down $0.26, or -0.40% at $65.11.

Jonathan Levinson : 2/6/2006 3:31:59 PM

QQQQ tests Friday's and this morning's range from below: Link . The short cycle has entered overbought territory, the wavelet already trending. Volume has picked up slightly but remains quite light, breadth -1.08:1.

Jonathan Levinson : 2/6/2006 3:17:46 PM

QQQQ testing declining 72 SMA resistance at 40.78, ticking lower off the initial touch. The short cycle upphase has room to run though the wavelet is looking toppy- similar to the other short cycle bounces we've seen since Thursday. Link

Jeff Bailey : 2/6/2006 3:11:49 PM

03:00 Internals found at this Link

Jeff Bailey : 2/6/2006 3:02:14 PM

03:00 Market Watch found at this Link

Jonathan Levinson : 2/6/2006 2:59:09 PM

Very light volume for QQQQ today, 44.2M shares traded so far with an hour and change to go. Volume breadth has been barely negative all day, but there's been no real strength shown so far. Looks like the buyers chose to stay in bed.

Jeff Bailey : 2/6/2006 2:55:29 PM

QQQQ $40.68 -0.58% ....

Jeff Bailey : 2/6/2006 2:55:01 PM

Cisco Systems (CSCO) $17.92 -1.26% ... probes morning lows.

Jeff Bailey : 2/6/2006 2:51:41 PM

Microsoft (MSFT) $27.15 -1.41% ... moves into its post-earnings gap ($26.49-$27.19)

Jonathan Levinson : 2/6/2006 2:50:22 PM

Volume breadth +1.25:1 on the NYSE, -1.2:1 on the Nasdaq, still quite flat and a tale of two markets.

Jeff Bailey : 2/6/2006 2:38:18 PM

VXN.X 17.81 +1.59% ... refuses to crack.

Jeff Bailey : 2/6/2006 2:37:40 PM

QQQQ $40.69 -0.56% ... there's not a bank in the bunch. 10-cents off the lows.

Jeff Bailey : 2/6/2006 2:36:55 PM

BIX.X 357.10 +0.19% ... hold near session highs of 357.12. A bullish twist to today's pancake yield curve action.

Jeff Bailey : 2/6/2006 2:31:11 PM

Apple Computer (AAPL) $67.09 -6.61% Link ... retraces 50% of its 10/12/05 relative low to recent highs of $86.40.

Jonathan Levinson : 2/6/2006 2:29:24 PM

On a multiday 3-min candle chart, the Qs are hanging at the bottom of the cliff. First sign of trouble for bears would be a break above 40.85: Link

Jeff Bailey : 2/6/2006 2:23:17 PM

Valero (VLO) $59.00 +0.61% ... quick dart lower too. Friday's lows $57.50.

March Unleaded $1.67 -0.59% (30-minute delayed) at session lows.

March Crude Oil $65.70 +0.50% (30-minute delayed)

Jeff Bailey : 2/6/2006 2:21:33 PM

Sunoco (SUN) $84.70 -0.59% ... quick jolt lower. Probes Friday's lows.

Jeff Bailey : 2/6/2006 2:20:44 PM

Amazon.com (AMZN) $37.78 -1.43% ... probes session low. Bulls not as eager to "close the book" as I thought on Friday. Not yet ....

Jonathan Levinson : 2/6/2006 2:16:47 PM

Crude oil down to a 10 cent gain here at 65.475, session low as I type: Link

Jeff Bailey : 2/6/2006 2:05:28 PM

QQQ-OX are $2.40 x $2.50.

QQQQ $40.64 -0.68% ...

Jeff Bailey : 2/6/2006 2:04:16 PM

Bearish swing trade put place order alert ... With QQQQ $40.68 -0.60% ... let's place an order to sell long the QQQQ March $43 Puts (QQQ-OQ) for $2.65.

Jonathan Levinson : 2/6/2006 2:02:37 PM

Volume breadth down to +1.15:1 on the NYSE, -1.25:1 on the Nasdaq- still very close to neutral, though weaker now.

Jeff Bailey : 2/6/2006 1:59:42 PM

VXN.X 17.84 +1.76% ... nobody's flinching at this point.

Jeff Bailey : 2/6/2006 1:57:46 PM

GSTI Software (GSO.X) 167.94 (unch) ... session lows here. WEEKLY S1 down at 166.00, WEEKLY Pivot at 169.66, call it 170.00.

Jonathan Levinson : 2/6/2006 1:53:20 PM

QQQQ tests 30 min channel support here at 40.70: Link . The bottomy short cycle indicators suggest a bounce, but if the 30 min cycle reverses from its weak upphase, we could see a stronger drop kick in from here.

Jeff Bailey : 2/6/2006 1:52:07 PM

SOX.X 537.30 +1.61% ...

Jeff Bailey : 2/6/2006 1:51:29 PM

QQQQ $40.72 -0.48% ... probes DAILY S1 for first time today.

Jeff Bailey : 2/6/2006 1:50:40 PM

Nucor (NUE) $85.35 +3.29% Link ...

Jeff Bailey : 2/6/2006 1:49:38 PM

U.S. Steel (X) $60.50 +4.45% Link ... jumped to $61.40 earlier this afternoon on talk company may be in play as takeover candidate.

Jonathan Levinson : 2/6/2006 1:46:55 PM

Volume breadth firms to +1.42:1 on the NYSE, -1.06:1 on the Nasdaq.

Jonathan Levinson : 2/6/2006 1:40:39 PM

Bank of America's Thomas McManus estimates that investors withdrew $12 billion from money markets and invested $16 billion in foreign-stock funds, $2.2 billion in U.S.-equity portfolios and $4 billion in bond funds during the month of January.

Jeff Bailey : 2/6/2006 1:26:55 PM

Current OPEN MM Profiles found at this Link

Jeff Bailey : 2/6/2006 1:20:44 PM

For the Qs, I'm still in a "do nothing" mode. Maybe pushed to cover shorts above conventional DAILY Pivot, or session high.

Jeff Bailey : 2/6/2006 1:19:30 PM

VXN.X 17.83 +1.71% ... still holding above its WEEKLY Pivot (17.70).

DAILY R1 17.83

Jeff Bailey : 2/6/2006 1:16:49 PM

QQQQ $40.83 -0.21% ... $40.35 looks a long ways away when the SOX is up 2% doesn't it? So does QQQQ WEEKLY Pivot!

Jeff Bailey : 2/6/2006 1:12:05 PM

01:00 Internals found at this Link

Jonathan Levinson : 2/6/2006 1:04:37 PM

Indirect bidders took 7.57B of the 37B total auctioned, a 20.4% participation below their usual 25-30% rate. The high-rate on the 13-week bills was 4.375% yielding 4.485%. the bid to cover ratio a respectable 2.57. On the 26-week bills, the high-rate was 4.5%, yielding 4.669% at a bid to cover ratio of 2.24.

Jeff Bailey : 2/6/2006 1:01:55 PM

01:00 Market Watch found at this Link

Jeff Bailey : 2/6/2006 12:59:42 PM

U.S. Dollar Index (dx00y) 90.36 +0.52% ... has the look that foreign capital loves the long end.

Perhaps President Bush's budget forecast providing some influence.

Jeff Bailey : 2/6/2006 12:57:50 PM

Ferocious buying this morning in the longer-dated bond. 30-year yield down 2.3 bp at 4.615% and has seen 4.604%.

Shorter-dated 5-year up 1.8 bp at 4.37%.

Jonathan Levinson : 2/6/2006 12:57:12 PM

Awaiting the results of the 37B 13- and 26-week bill auctions in a few minutes.

Jonathan Levinson : 2/6/2006 12:53:00 PM

A very uneventful short cycle downphase is stalling here for the Qs. Direction still up for grabs. Link

Jonathan Levinson : 2/6/2006 12:44:30 PM

No clues from volume breadth, +1.25:1 on the NYSE and -1.1:1 on the Nasdaq. Either of these contradictory readings could be reversed by a single strong buy or sell program.

Jonathan Levinson : 2/6/2006 12:33:12 PM

Back in 5.

Jonathan Levinson : 2/6/2006 12:30:04 PM

Ten year notes holding fractionally negative, TNX up .4 bps at 4.537%. Awaiting the 1PM results of the 13- and 26-week bill auctions to get this moving.

Jeff Bailey : 2/6/2006 12:30:01 PM

Micron Tech (MU) $15.90 +6.71% Link ... 2005 SEC filing shows investment banker Goldman Sachs (GS) cut its passive stake from 5.2% (12/31/04) to 1.8% (12/31/05).

Jeff Bailey : 2/6/2006 12:26:51 PM

Micron Tech (MU) $15.87 +6.64% ...

Jeff Bailey : 2/6/2006 12:25:40 PM

Texas Instruments (TXN) $30.63 +2.10% ...

Motorola (MOT) $20.75 -1.98% ... #8 most active today.

Jonathan Levinson : 2/6/2006 12:18:59 PM

The 30 min cycle is still chopping its way higher against the flat price, either a very weak/bearish upphase, or a bullish divergence. Meanwhile, a sideways short cycle upphase is stalling again near the top of its range. I have no clue which way it's going to break- the persistence just below the 41 strike looks potentially bullish to me, as does the possible bullish-d on the 30 min cycle. Other than that, this all feels bearish, with the daily cycle and weekly in downphases, breadth unable to hold positive, and the weak short cycle upphase. Link

Jonathan Levinson : 2/6/2006 12:04:05 PM

QQQQ breaks 72 SMA resistance for the first time today, testing the pivot from below. The 30 min channel has yet to tick up, however, the short cycle indicators edging into overbought: Link

Jeff Bailey : 2/6/2006 12:02:32 PM

SOX.X 539.26 +1.98% ... trades DAILY R2 now.

QQQQ $40.90 -0.04% ...

Marc Eckelberry : 2/6/2006 11:50:05 AM

INTC chart. Looks like it is forming a strong bottom as bull divergences build. Link

Jeff Bailey : 2/6/2006 11:51:10 AM

Per today's observation of Mar $41 Put selling (11:24:25 and 11:35:55 AM) ... March is quarterly expire and will note that QQQQ's quarterly pivot (conventional calculation) is $40.02.

Jonathan Levinson : 2/6/2006 11:51:21 AM

Prudential's Ed Keon cuts his recommended equity weighting to 55% from 100%, raises bonds to 35% and adds 10% to cash: Link

Jeff Bailey : 2/6/2006 11:45:17 AM

That ISRG is all over the place isn't it?

Jeff Bailey : 2/6/2006 11:43:52 AM

NASDAQ-100 Heatmap Link

Jeff Bailey : 2/6/2006 11:41:02 AM

Intel (INTC) $20.73 -0.04% ... #1 most active at just over 29 million shares.

Jeff Bailey : 2/6/2006 11:40:08 AM

QQQQ $40.88 -0.09% ...

Jonathan Levinson : 2/6/2006 11:39:04 AM

QQQQ's short cycle upphase is barely beyond a stall, but the 72 SMA looms at 40.90, above which we could see a pop. The 30/60 min cycles are overdue for an upphase, but 40.90-41.00 resistance is key for the bullish case first. Volume breadth has just ticked positive at +1.04:1 for the Nasdaq. Link

Jeff Bailey : 2/6/2006 11:39:01 AM

SOX.X alert 537.26 +1.60% ... Ugh! WEEKLY Pivot.

Jeff Bailey : 2/6/2006 11:37:33 AM

I think we look to close out our QQQQ March $43 Puts should the underlying trade near $40.35 anytime soon! Tomorrow perhaps. Tuesday's are a good day to be looking for trade at a WEEKLY S1 or R1.

Jeff Bailey : 2/6/2006 11:35:55 AM

QQQQ Options Montage at this Link ... "Premium" sellers look focused at the Feb $42 Calls and March $41 puts.

Not heavy, but equally matched perhaps.

A holder of the QQQQ Mar $43 Puts (QQQ-OQ) is interested in the Mar $41 Put action .... $41 - $0.90 = $40.10.

Jeff Bailey : 2/6/2006 11:24:25 AM

Quick Option Calculation of what the QQQ-OQ would be priced at should underlying QQQQ trade $40.35 at this Link

Seeing some selling in the March $41 Puts (QQQ-OO) at $0.90.

Jeff Bailey : 2/6/2006 11:10:39 AM

11:00 Internals found at this Link

Friday's Internals found at this Link

Jonathan Levinson : 2/6/2006 11:09:19 AM

Stepping away.

Jonathan Levinson : 2/6/2006 11:08:06 AM

QQQQ approaches 72 SMA, which has declined to 40.92, the short cycle indicators turning up to join the toppy wavelet. This has been a very long, narrow, choppy range- this morning's nominal new low seemed to attract no new selling. Link

Jonathan Levinson : 2/6/2006 11:06:38 AM

From the Treasury's website re: tomorrow's 4-week auction, an effective 6B net drain:

The Treasury will auction 4-week Treasury bills totaling $14,000 million to refund an estimated $8,000 million of publicly held 4-week Treasury bills maturing February 9, 2006, and to raise new cash of approximately $6,000 million.

Jonathan Levinson : 2/6/2006 11:05:11 AM

Don't even know... but it's grown a lot over the past 19 years.

Jeff Bailey : 2/6/2006 11:02:29 AM

11:00 Market Watch found at this Link

Jonathan Levinson : 2/6/2006 11:01:44 AM

Mark, I was just looking over the Fed's "Debt to the penny" page: Link

Jonathan Levinson : 2/6/2006 10:58:41 AM

Session high for April gold here, +5.80 at 577.40. Silver trades .021 off its 9.865 high, while crude oil holds a .35 gain at 65.725, .95 off its overnight high.

Jonathan Levinson : 2/6/2006 10:49:27 AM

Volume breadth +1.25:1 on the NYSE, -1.25:1 on the Nasdaq - bifurcated markets, light volume overall for the Qs.

Jonathan Levinson : 2/6/2006 10:46:00 AM

Friday's low was violated briefly but the bounce didn't get far, with price falling back as I type. The short cycle has rolled over and has room to run so long as price holds below the 40.97 72 SMA. Link

Jane Fox : 2/6/2006 10:43:17 AM

Dateline WSJ The White House unveiled its budget proposal for fiscal 2007, which starts in October, calling for $2.77 trillion in spending. Though the U.S. government will remain deeply in the red next year, the federal budget deficit should dip to $354 billion, a decline from the current year's projected record $423 billion shortfall.

Jeff Bailey : 2/6/2006 10:40:20 AM

Buy Program Premium ... DIA $107.98, SPX 1,264.99, QQQQ $40.87

Jonathan Levinson : 2/6/2006 10:32:13 AM

Stepping away for 10 minutes.

Jeff Bailey : 2/6/2006 10:31:49 AM

5-year ($FVX.X) ... up 0.8 bp at 4.503% (Fed Funds target 4.50%)

10-year ($TNX.X) down 0.4 bp at 4.529%.

30-year ($TYX.X) down 3.2 bp at 4.606%.

Jeff Bailey : 2/6/2006 10:28:20 AM

QQQQ ... 5-minute interval chart with conventional WEEKLY/MONTHLY Pivot retracement at this Link ... unfolding to a bear's liking in my opinion.

Jonathan Levinson : 2/6/2006 10:27:46 AM

QQQQ testing Friday's lows: Link

Jonathan Levinson : 2/6/2006 10:24:22 AM

Volume breadth is +1.3:1 on the NYSE, -1.1:1 on the Nasdaq.

Jeff Bailey : 2/6/2006 10:21:10 AM

Current OPEN MM Profiles found at this Link

Jonathan Levinson : 2/6/2006 10:17:52 AM

Bernanke's remarks at the ceremonial swearing-in by President Bush, Federal Reserve Board of Governors, Washington, D.C. at this Link

Jonathan Levinson : 2/6/2006 10:16:45 AM

Crude oil drops to a 40 cent gain in the day session, currently +.40 at 65.775, while natgas falls to a .445 loss at 8.17.

Jeff Bailey : 2/6/2006 10:15:30 AM

Google (GOOG) $385.38 +1% Link ... Bear Stearns saying it believes the company will likely be added to the S&P 500.

Jeff Bailey : 2/6/2006 10:12:18 AM

VXN.X 17.99 +2.62% ... WEEKLY Pivot Levels ... 16.44, 16.94, Piv= 17.71, 18.21, 18.98.

Jeff Bailey : 2/6/2006 10:09:23 AM

10:06 AM EST Watch found at this Link

Jeff Bailey : 2/6/2006 10:04:12 AM

Swearing-In Ceremony for New Fed Chairman Dr. Ben Bernanke now complete.

Jonathan Levinson : 2/6/2006 10:04:02 AM










Jonathan Levinson : 2/6/2006 9:55:29 AM

The Fed announces a 7B overnight repo to replace the 1.75, for a net add of 5.25B. The stopout rate held at 4.45% for treasury collateral, 5 bps below the overnight target rate.

Jonathan Levinson : 2/6/2006 9:54:17 AM

Despite the bounce, this morning's action is just an extension of Friday's range at the bottom of last week's decline. On the bullish side, the short cycle upphase has been getting good traction this AM- though it has yet to persuade the 30/60 min cycles. Link

Jonathan Levinson : 2/6/2006 9:50:25 AM

The Fed has a measley 1.75B in expiring repos to cover this morning. The announcement is due any minute.

Jonathan Levinson : 2/6/2006 9:47:29 AM




Jeff Bailey : 2/6/2006 9:46:39 AM

J. Jill Group (JILL) $23.53 +22.55% Link ... Higher on reports that Talbots (TLB) $26.39 -3.22% Link may make a $450 million bid.

Jeff Bailey : 2/6/2006 9:40:46 AM

VIX.X 13.22 +2.00% ...

Jonathan Levinson : 2/6/2006 9:40:30 AM

Volume breadth is strengthening from its opening levels, QQQQ testing the 72 SMA here from a few pennies above the pivot. Above 41, the 30 min channel bias switches to bullish. Link

Jeff Bailey : 2/6/2006 9:38:12 AM

Amazon.com (AMZN) $38.05 -0.73% ... WEEKLY Pivot Levels ... $31.95, $35.14, Piv= $40.55, $43.74, $49.15

Jeff Bailey : 2/6/2006 9:36:10 AM

QQQQ $40.95 +0.07% ...

Jeff Bailey : 2/6/2006 9:35:39 AM

S&P Bank (BIX.X) 356.42 (unch) ...

Jeff Bailey : 2/6/2006 9:35:13 AM

5-year yield ($FVX.X) up 1.5 bp at 4.410%.

10-year yield ($TNX.X) up 0.4 bp at 4.537%.

30-year yield ($TYX.X) down 1.3 bp at 4.625%.

Curve flattening.

Jonathan Levinson : 2/6/2006 9:33:20 AM

Volume breadth +1.4:1 on the NYSE, +1.65:1 on the Nasdaq at the open.

Jonathan Levinson : 2/6/2006 9:31:38 AM

QQQQ's 72 SMA is at 41.00, 30/60 min channel support 40.78, 30/60 min channel resistance 41.13-41.21.

Jeff Bailey : 2/6/2006 9:30:49 AM

Blue Coat Systems (BCSI) $40.33 Link ... Sharply lower at $27.79 pre-market after the Internet technology company warned on its upcoming third quarter.

Reuters story Link

Jeff Bailey : 2/6/2006 9:27:42 AM

AT&T (T) (merged SBC) $26.79 Link ... Seeing 1.247 million shares crossed at $26.79 (08:52:51 AM EST)

Jonathan Levinson : 2/6/2006 9:27:06 AM

QQQQ's 30 and 60 min cycles are oversold, and made a weak upward drift on Friday. That's either a bullish divergence, or a weak/trending upphase on persistent price weakness caused by the downphases on the daily and weekly cycles. I will update the intraday levels in 5 minutes when they refresh.

Jeff Bailey : 2/6/2006 9:25:47 AM

Dominion Resources (D) $75.05 Link ... seeing 1.6 million share block crossed at $75.05 (08:52:52 AM EST).

Jonathan Levinson : 2/6/2006 8:37:54 AM

Ten year notes hold their losses, with TNX opening +1.8 bps at 4.551%, steeper against the IRX which is flat at 4.362%.

Jonathan Levinson : 2/6/2006 7:33:25 AM

Equities are green, ES trading 1267.5, NQ 1670.5, YM 10820 and QQQQ +.03 at 40.95. Gold is up 2.50 to 569.90, silver is up .017 to 9.774, ten year notes are down 3/64 to 108 17/64, crude oil is up .625 to 66 and natgas is down .165 to 8.45.

There are no major economic reports scheduled for release today.

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