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Jeff Bailey : 2/14/2006 12:15:57 AM

Program Trading Levels for Tuesday ... HL Camp & Company has their computers set for program buying at $+3.42 and set for program selling at $+1.44.

OEX stocks that were bought the most during buy programs were HON, IP, ABT, GD, UTX, LTD, RTN, MDT, USB, AIG, DOW, T, UPS, MMM.

OI Technical Staff : 2/13/2006 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The Market Monitor has been archived.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 : 2/13/2006 6:10:15 PM

Current OPEN MM Profiles found at this Link

Jeff Bailey : 2/13/2006 5:32:13 PM

Closing Internals found at this Link

Jeff Bailey : 2/13/2006 4:39:21 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 2/13/2006 4:25:55 PM

02:12 PM EST Temperatures with March Nat. Gas and Heating Oil settlements at this Link

March Unleaded settled down $0.0309, or -2.11%.

March Crude Oil settled down $0.60, or -0.97% at $61.24.

Temperature forecast into next Sunday at this Link

Jonathan Levinson : 2/13/2006 3:45:44 PM

QQQQ daily chart updated at this Link . See you in tonight's Market Wrap.

Jeff Bailey : 2/13/2006 3:39:51 PM

Amazon.com (AMZN) ... Option Montage into Friday's expiration at this Link ... still looks more bearish to me.

Jonathan Levinson : 2/13/2006 3:37:10 PM

QQQQ tests 72 SMA resistance for the first time today. Link

Jeff Bailey : 2/13/2006 3:34:20 PM

Amazon.com (AMZN) $38.03 -1.27% ... finds a bid after session low of $37.53.

Jonathan Levinson : 2/13/2006 3:21:00 PM

The 30 min cycle is oversold, but the 60 min cycle downphase has plenty of room and potentially hours' left to run. A sideways drift from here would suggest an early end to the that 60 min cycle, while a break and flush here would either be reversed quickly as a throwunder below the channel supports (currently at 40.20 QQQQ), or would start the 30 min cycle in a very bearish trending oversold move. Link

Jeff Bailey : 2/13/2006 3:18:32 PM

03:00 Internals found at this Link

Jeff Bailey : 2/13/2006 3:08:12 PM

03:00 Market Watch found at this Link

Jonathan Levinson : 2/13/2006 2:59:56 PM

Headlines:

MARCH HEATING OIL FALLS 0.4C TO CLOSE AT $1.6386/GAL

MARCH HEATING OIL CLOSES AT LOWEST LEVEL SINCE JUNE 2005

MARCH NATURAL GAS FALLS 7.3C, OR 1%, ENDS AT $7.243/MLN BTUS

MARCH NATURAL GAS ENDS AT LOWEST LEVEL SINCE FEB. 18, 2005

Jonathan Levinson : 2/13/2006 2:58:32 PM

Volume breadth down to -3.45:1 on the NYSE, -2.95:1 on the Nasdaq.

Jeff Bailey : 2/13/2006 2:57:09 PM

iShares Russell 2000 Growth (AMEX:IWO) $73.84 -1.15% ... session lows

Jeff Bailey : 2/13/2006 2:53:35 PM

Dow Diamonds (DIA) $108.73 -0.36% ... did kiss WEEKLY Pivot.

QQQQ $40.38 -1.41% ... "squared up" at WEEKLY S1.

Jonathan Levinson : 2/13/2006 2:51:57 PM

Another whipsaw to cap another short cycle upturn- so far every peek high has had its head chopped off. A break of the current low should see a quick test of Friday's low, while a failure to break 40.33 would leave another bullish divergence on the Macd and short cycle indicators: Link

Jonathan Levinson : 2/13/2006 2:35:30 PM

Volume breadth up to a still-weak -2.54:1 on the NYSE, -2.57:1 on the Nasdaq.

Jonathan Levinson : 2/13/2006 2:22:28 PM

Bullish wavelet divergence on QQQQ, but the short cycle indicators are trending and the Macd has been pinned below the zero mark all day. Price is a little lighter here, but still heavy just off the lows: Link

Jonathan Levinson : 2/13/2006 2:08:26 PM

QQQQ volume is still very light, 44.6M shares. Price still feels very heavy despite the light volume on this breakaway gap down day: Link

Jeff Bailey : 2/13/2006 1:49:10 PM

S&P 100 (OEX.X) 574.09 ... has slipped under WEEKLY Pivot and 574.42-574.77 zone.

Late Friday I thought we would get some re-steepening of the yield curve, which would bring some strength to the OEX.

While 5-30 still inverted, we did get some re-steepening. However, OEX not responding at this time.

BAC $43.41 -1.16% ... just moving under WEEKLY S1 ($43.43) here.

Jonathan Levinson : 2/13/2006 1:45:20 PM

QQQQ's 60 min cycle upphase stalled about an hour ago and is pointing lower, ditto the 30 min cycle which rolled over earlier this AM. The 30 min cycle is just approaching oversold territory, while the slower 60 min cycle holds at the midpoint of its range. The short cycle is oversold and trending- 1st sign of trouble for bears will be a break back above the 72 SMA, currently down to 40.56: Link

Jeff Bailey : 2/13/2006 1:40:46 PM

Burst of volume (3.3 million shares) in the SPY $126.13 -0.40% in last 10-minutes. Session lows here.

Jonathan Levinson : 2/13/2006 1:35:38 PM

Volume breadth just reached its worst levels of the day, now -3:1 on the NYSE, -2.53:1 on the Nasdaq.

Jonathan Levinson : 2/13/2006 1:31:37 PM

Potential bullish short cycle Macd divergence here against the lower intraday price low, provided that the bulls don't drop the ball yet again: Link

Jonathan Levinson : 2/13/2006 1:22:10 PM

WASHINGTON (MarketWatch) -- Early economic reports for January show the economy is doing better than the 1.1% GDP growth rate in the last three months of last year, said Sandra Pianalto, the president of the Cleveland Federal Reserve Bank. "The early data for January have been reasonably good," Pianalto said in a speech Monday. Pianalto said she would be watching the economic data very carefully over the next several months to determine whether the weak fourth-quarter growth rate was the first sign that high energy prices may be taking a toll on the economy.

Jonathan Levinson : 2/13/2006 1:16:37 PM

Volume breadth -2.05:1 on the NYSE, -2.3:1 on the Nasdaq. Overall volume remains very light, however- blame it on the snowstorm in NY.

Jonathan Levinson : 2/13/2006 1:12:32 PM

New lows for QQQQ here, again testing lower 30 min channel support. Friday's low is at 40.25: Link

Jeff Bailey : 2/13/2006 1:11:49 PM

01:00 Internals found at this Link

Jonathan Levinson : 2/13/2006 1:03:30 PM

Indirect bidders took 9.5B of the 37B of 13- and 26-week bills auctioned today, a solid showing. The high-rate on the 13-week bills was 4.44%, the median rate 4.42%, and the bid-to-cover ratio 2.25. On the 26-week bills, the high-rate was 4.54%, the median rate 4.53%, and the bid-to-cover ratio 2.4.

Jeff Bailey : 2/13/2006 1:02:36 PM

01:00 Market Watch found at this Link

Jonathan Levinson : 2/13/2006 12:54:20 PM

Volume breadth down to -1.96:1 on the NYSE, -1.98:1 on the Nasdaq.

Jonathan Levinson : 2/13/2006 12:53:22 PM

Session low for crude oil here, -.70 at 61.15. Link

Jonathan Levinson : 2/13/2006 12:49:50 PM

Awaiting the results of the 37B 13- and 26-week bill auction due in the next 10 minutes.

Jeff Bailey : 2/13/2006 12:43:25 PM

Google (GOOG) $342.08 -5.67% ... slips to new session low.

QQQQ $40.53 -1.04% ... challenges morning low of $40.52.

Jonathan Levinson : 2/13/2006 12:40:32 PM

QQQQ back to the lows here, the short cycle indicators turning back down from flat. 30/60 min channel support is at 40.46: Link

Tab Gilles : 2/13/2006 12:36:43 PM

Murphy Oil (MUR) Started accumalating at $51. Currently appears to be making a bottom, may yet go lower and put in a bullish divergence. Take a look at Jan 45 call LEAPS (OBYAI).

Daily.... Link

weekly... Link

90 minute... Link

Jonathan Levinson : 2/13/2006 12:24:37 PM

Volume breadth -1.3:1 on the NYSE, -1.6:1 on the Nasdaq.

Jeff Bailey : 2/13/2006 12:19:49 PM

Iran Starts Small-Scale Uranium Enrichment ... DJ - Iran starts small-scale enrichment of uranium - a process that can produce fuel for nuclear reactors or bombs, say diplomats. Earlier, Iran was considering withdrawing from the Nuclear Nonproliferation Treaty if deprived of its positive aspect.

Jonathan Levinson : 2/13/2006 12:19:02 PM

No change for QQQQ, flatlined as the short cycles continue their flat-upward drift off the morning lows: Link

Jeff Bailey : 2/13/2006 12:16:56 PM

WTO Rules Against U.S. Tax Subsidies ... DJ - An appellate body at the World Trade Organization has ruled export tax subsidies the U.S. has been paying local companies are illegal, ending years of legal wrangles.

Jeff Bailey : 2/13/2006 11:54:01 AM

Dow Diamonds (DIA) $109.25 +0.10% Link ... Breadth negative at 18:12.

HD $39.91 +1.70%, XOM $60.08 +1.09%, MMM $73.18 +0.78% ... AA $30.27 -1.91%, KO $40.75 -0.99%, MO $71.41 -0.64%

Jeff Bailey : 2/13/2006 11:50:31 AM

Alcoa (AA) $30.29 -1.84% Link ... Percentage loser among Dow components.

Jeff Bailey : 2/13/2006 11:47:53 AM

Home Depot (HD) $39.89 +1.70% Link ... Percentage gainer among Dow components on reports that the building products retailer is in talks to buy a similar retail chain in China.

Jonathan Levinson : 2/13/2006 11:41:46 AM

Stepping away for a few minutes.

Jonathan Levinson : 2/13/2006 11:20:40 AM

QQQQ chops along below 72 SMA resistance and the broken expanding wedge support line. The 30 min channel has turned down, the 60 min channel upphase now stalled but not reversing. The short cycle upphase is stalling here as well, volume breadth -1.5:1 now on the Nasdaq. Weak indeed. Link

Jeff Bailey : 2/13/2006 11:14:37 AM

11:00 Internals found at this Link

Friday's Internals found at this Link

Jonathan Levinson : 2/13/2006 11:14:03 AM

From the Treasury website:

The Treasury will auction 4-week Treasury bills totaling $16,000 million to refund an estimated $8,000 million of publicly held 4-week Treasury bills maturing February 16, 2006, and to raise new cash of approximately $8,000 million.

This is the equivalent of a net 8B drain by the Treasury.

Jonathan Levinson : 2/13/2006 11:09:46 AM

Volume breadth -1.4:1 on the NYSE, -1.25:1 on the Nasdaq here.

Jeff Bailey : 2/13/2006 11:03:30 AM

11:00 Market Watch found at this Link

Jonathan Levinson : 2/13/2006 10:52:48 AM

A quick shot back to the rising trendline and 72 SMA resistance at 40.70 QQQQ, the short and wavelet cycles turning up from oversold: Link

Jeff Bailey : 2/13/2006 10:52:10 AM

iShare Russell 2000 Growth (AMEX:IWO) $74.44 -0.34% ... Updated daily interval bar chart with WEEKLY and MONTHLY pivot levels noted at this Link

Jeff Bailey : 2/13/2006 10:39:25 AM

Current OPEN MM Profiles found at this Link

Currently have an OPEN order to sell two (2) of the OEB-BQ for $1.00.

Jonathan Levinson : 2/13/2006 10:33:34 AM

QQQQ expanding wedge failure on the breach of rising support: Link . But volume is light because of the snowstorm, and volumne breadth just -1.5:1 on the Nasdaq- weak but not notably so.

Jonathan Levinson : 2/13/2006 10:29:14 AM

Ten year notes are up to flat, TNX unchanged at 4.581%. IRX is down 3 bps to 4.422%, while FVX holds a .2 bp loss at 4.579%, now creeping below TNX.

Jeff Bailey : 2/13/2006 10:26:35 AM

S&P 100 (OEX.X) daily interval bar chart with conventional WEEKLY and MONTHLY Pivot retracement at this Link

Jonathan Levinson : 2/13/2006 10:21:34 AM

Session lows failing here, the wavelet upphase whipsawing back down in the early going. Link

Jeff Bailey : 2/13/2006 10:20:41 AM

OEX Feb 585 Calls (OEB-BQ) currently bid/ask $0.30 x $0.35 with OEX unchanged at 576.68.

Implied Volatility 10.50

Jeff Bailey : 2/13/2006 10:17:59 AM

WEEKLY/Monthly Pivot Matrix links at this Link

Jonathan Levinson : 2/13/2006 10:12:03 AM

Volume breadth is improving slightly to -1.3:1 on the Nasdaq here as price sits flat at the lows, the 30 min cycle upphase stalled but not yet rolling over. The short cycles are looking bottomy here- reaching make-or-break time for the bulls. Link

Jeff Bailey : 2/13/2006 10:09:26 AM

Google (GOOG) $345.33 -4.75% Link ... stock lower after weekend article in Barron's said that pressure from Yahoo (YHOO) $31.90 -1.90% Link and Microsoft (MSFT) $26.58 -0.41% Link could hit the company's top-line growth.

Jeff Bailey : 2/13/2006 10:03:51 AM

Google (GOOG) $347.25 -4.24% ... Updated daily interval bar chart at this Link

Jonathan Levinson : 2/13/2006 10:00:54 AM

A 6B overnight repo drains net 1.75B for the day.

Jonathan Levinson : 2/13/2006 9:57:33 AM

Still waiting for word from the Fed on the disposition of its expiring 7.75B weekend repo.

Jonathan Levinson : 2/13/2006 9:47:38 AM

Volume breadth returns to -1.5:1 on the NYSE, -1.55:1 on the Nasdaq on the bounce.

Jonathan Levinson : 2/13/2006 9:45:10 AM

QQQQ tests rising linear support and 30 min channel support here. The short cycle has room to run, but price is currently at support. Link

Jeff Bailey : 2/13/2006 9:35:40 AM

Chicago Board of Trade (BOT) $109.26 +2.63% Link ... gaps higher.

Jonathan Levinson : 2/13/2006 9:35:01 AM

Volume breadth -1.82:1 on the NYSE, -2.1:1 on the Nasdaq.

Jonathan Levinson : 2/13/2006 9:32:03 AM

QQQQ's 72 SMA is at 40.68 , 30/60 min channel resistance 40.90 and 41.10 respectively , support at 40.40 and 40.60. . Link

Jeff Bailey : 2/13/2006 9:30:05 AM

Bear Alert! ... Friday's action found a net loss of 8 stocks to reversing lower point and figure sell signals in the S&P 500, which now has this market in "bear alert" status. Link ... Defensive team back on the field here.

Jonathan Levinson : 2/13/2006 9:17:21 AM

QQQQ's 30 and 60 min cycles left off on synchronous upphases Friday, and the 30 min is just approaching overbought territory, the 60 min still with plenty of room to run. The pullback here should be of the short-cycle variety only, and a bounce would have a good chance of breaking Friday's high- but only so long as the 72 SMA isn't violated, which would stall the 30 min cycle upphase. I'll update the 72 SMA and 30/60 min channel levels when they refresh at the opening bell.

Jane Fox : 2/13/2006 9:03:06 AM

Good morning. I hope you all had a great weekend and are ready for a great week of trading. I know I am.

Equity markets looked bearish overnight making lower lows and highs but they are still only midway into their respective previous day ranges so it is hard to call them bearish. I guess I will have to stay with more neutral than anything. Link

Jonathan Levinson : 2/13/2006 8:37:38 AM

Ten year notes hold their losses, TNX up 2.6 bps to 4.573%, steepening this morning but still lower than the FVX, up 1.3 bps to 4.594% and the IRX, +.9 bps to 4.59%.

Jonathan Levinson : 2/13/2006 7:47:14 AM

Debts taken on by British families have overtaken the size of the economy for the first time. People have borrowed so much their total debt outstripped Britain's gross domestic product over the new year.

The landmark came barely 18 months after British household debt passed #1 trillion, and came as bankruptcies have soared to record levels.

It will cause consternation at the Bank of England, which last week voted to leave interest rates at 4=pc.

The Conservatives rounded on the Chancellor for contributing to "debt addiction" with his handling of the economy. ...

Link

Jonathan Levinson : 2/13/2006 7:24:44 AM

Equities are lower, ES trading 1266.25, NQ 1663, YM 10909 and QQQQ -.12 to 40.84. Gold is down 1.5 to 552.10, silver is down .098 to 9.285, ten year notes are down 5/64 to 107 3/4. crude oil is up .075 to 61.925 and natgas is up .005 to 7.32.

There are no major economic reports scheduled for today.

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