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Jeff Bailey : 2/24/2006 1:46:21 AM

Program Trading Levels for Friday ... HL Camp & Company has their computers set for program buying at $+3.02 and set for program selling at $0.88.

FairValue for the S&P 500 today is $1.82.

Jeff Bailey : 2/24/2006 1:18:47 AM

StockCharts.com vs. Dorsey Wright's Bullish % readings and measures. The chart of Altria (MO) is a perfect example of why there can be different bullish % readings.

Here's a QChart's bar chart of MO Link

Here's Dorsey Wright's PnF chart of MO Link

Now StockCharts.com's PnF chart Link

Jeff Bailey : 2/24/2006 12:40:44 AM

Altria (MO) $73.38 Link ... some "excessive" Mar $75 Call (8,516 : 126,315) and brisk Jun $75 Call (4,785 : 40,957) buying today.

Could be a dividend run setting up with quarterly dividend of $0.80 per share, payable on April 10, to shareholders of record as of March 15. Ex-dividend date is March 13.

Note: March option expiration is ... 3/17 and a "Triple Witching" expiration.

Jeff Bailey : 2/24/2006 12:06:01 AM

Bear Correction Alert ... Thursday's action saw a net gain of 3 stocks to a reversing higher point and figure buy signal, which is enough to have the S&P 100 Bullish % ($BPOEX) Link reversing back up to "bull correction" status at 64% bullish.

Dorsey Wright & Associates' BPOEX also reversing back higher at 60% with a net gain of 2 stocks to reversing higher PnF buy signals on Thursday.

A quick screen from Dorsey's database has JPM $41.00 (2/22/06), ATI $52 (2/23/06) and OMX $31 (2/23/06) generating reversing higher PnF buy signals.

OI Technical Staff : 2/23/2006 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The Market Monitor has been archived.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 : 2/23/2006 9:58:55 PM

And now, perhaps the moment SUN Aug $85 Call bulls have been waiting for ....

Jeff Bailey : 2/23/2006 9:57:35 PM

Continuous Unleaded vs. Continuous Oil RS Chart from PnF (0.20-box) at this Link ... (after "sell signal" at 25.00, reverses up to 26.20)

Jeff Bailey : 2/23/2006 8:42:54 PM

Valero Energy (VLO) ... now check this one out Link

Jeff Bailey : 2/23/2006 8:41:55 PM

Sunoco (SUN) Check out this bar chart Link with a 5-day SMA (see 05:51:23 Unleaded vs. Crude Oil RS Chart)

Jeff Bailey : 2/23/2006 7:02:35 PM

Current OPEN MM Profiles found at this Link

Today's Activity ... Oooooeeee! It was fast and furious today and I was scrambling. Here we go...

No more ICE options! Implied Volatility? Throw it out for ICE options, or have a super computer and crystal ball at the ready. Bears looked like they were going to be sent to the deep freeze early, but cooler heads prevailed at WEEKLY Pivot. Closed out the ICE Mar $50 Puts (ICE-OJ) at the bid of $2.90 ($+0.10, or +3.57%)

Oooooeee! #2 ... Valero Energy (VLO) darted lower at the open with session low of $53.25, but shy of $52.86 target. Buyers ramped back through stop of $55.60 ($-0.85, or -1.55%)

With all heck breaking loose, Google decides it wants to bid from the open. I raised a stop on the GOOG Mar $400 Calls (GOP-CT) thinking "trend day," but stop was triggered at $5.90 ($+1.50, or +34.09%)

Jeff Bailey : 2/23/2006 6:19:43 PM

Closing Internals found at this Link

Jeff Bailey : 2/23/2006 5:56:13 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 2/23/2006 5:51:23 PM

05:13 PM EST Temperatures with April Nat. Gas and Heating Oil settlements at this Link

April Unleaded settled up +1.40% at $1.5731.

April Crude Oil settled down -0.77% at $60.54.

April Unleaded vs. April Crude RS chart Link

Had a couple of question on ability to filter out day-to-day fluctionations and turning points. I added a 5-day SMA to the RS chart as a potential solution.

Jeff Bailey : 2/23/2006 4:15:26 PM

Google (GOOG) $378.07 +3.44% ... DAILY Pivot levels for tomorrow ... $359.05, $368.56, Piv= $374.90, $384.41, $390.75

Jonathan Levinson : 2/23/2006 3:47:41 PM

QQQQ breaks support, burying this afternoon's and late morning buyers, now back to the opening range. Link Daily chart at this Link

Jeff Bailey : 2/23/2006 3:47:04 PM

Google Inc. (GOOG) $378.33 +3.49% ... notice served at $376 today. Let's look for a pullback tomorrow. Clear my head after today's activity. Wind down a bit.

Jeff Bailey : 2/23/2006 3:44:56 PM

Yahoo! Inc. (YHOO) $33.24 +0.24% ... doesn't show me much above the $33.50 neckline.

Jeff Bailey : 2/23/2006 3:37:34 PM

Sell Program Premium ... DIA $110.86, SPY $129.26, QQQQ $41.32

Jeff Bailey : 2/23/2006 3:26:19 PM

03:00 Internals found at this Link

Jeff Bailey : 2/23/2006 3:19:33 PM

QQQQ $41.34

Jeff Bailey : 2/23/2006 3:19:14 PM

Google (GOOG) $377.50 +2.38% ... little head/shoulder top on 5-minute chart. If it plays out, downside objective to $372.25.

That would be right back at our BLUE 50%

Jonathan Levinson : 2/23/2006 3:19:01 PM

Volume breadth -1.25:1 on the NYSE, +1.5:1 on the Nasdaq.

Jeff Bailey : 2/23/2006 3:02:37 PM

03:00 Market Watch found at this Link

Jonathan Levinson : 2/23/2006 2:53:04 PM

QQQQ broke 72 SMA support and has stalled the 30 min cycle upphase, but it bounced off the short cycle low at 41.30. The head and shoulders pattern to which Jane referred is evident here intraday on QQQQ above 41.30, but if so, the current right shoulder needs to top at current levels, and in no case higher tham 41.50. Link

Jeff Bailey : 2/23/2006 2:52:28 PM

SUN option montage at this Link ... What is that 200 UpTick at Aug $70 Put all about?

See the 15 calls traded in the Aug. $70 Calls? Looks "squaring" to me from market maker.

Jeff Bailey : 2/23/2006 2:40:59 PM

Google (GOOG) $377.66 +3.22% ... option montage at this Link

Jonathan Levinson : 2/23/2006 2:31:37 PM

Volume breadth is -1.12:1 on the NYSE, +1.76:1 on the Nasdaq here.

Jeff Bailey : 2/23/2006 2:26:47 PM

ICE $49.14 -0.18% ... buyers still defending DAILY Pivot. It has been that kind of session. WEEKLY Pivot, DAILY Pivot.

30-minute interval chart has MACD curled lower and at zero.

Jeff Bailey : 2/23/2006 2:14:43 PM

QQQQ Updated daily interval chart at this Link

Jonathan Levinson : 2/23/2006 2:07:03 PM

Back to find QQQQ drifting in a so far weak and corrective short cycle downphase off the 1:20PM high. The 72 SMA is up to 41.39, the 30 and 60 min channels still rising. Bulls have the ball until at least a break of that 72 SMA. Link

Jeff Bailey : 2/23/2006 2:06:43 PM

SUN $76.20 +1.58% ...

VLO $55.00 +0.82% ... yes... $55.00

Jeff Bailey : 2/23/2006 2:05:27 PM

April Unleaded/Oil 5-day crack spread ... Unleaded -3.70% , Oil -2.10%.

Daily has Unleaded +1.29 and Oil -1.49%

Jeff Bailey : 2/23/2006 2:02:16 PM

What is it about all this action coming right at the top of the 01:00 hour. Never seems to fail.

Jeff Bailey : 2/23/2006 2:01:28 PM

ICE-OJ ... finds some takers at the offer of $3.10

Jeff Bailey : 2/23/2006 1:57:49 PM

ICE $49.01 -0.44% ... mid-point of that regression channel.

ICE-OJ $2.90 x $3.20

If holding out for the bottom of regression and MONTHLY Pivot, you DO NOT WANT to see ICE come back above WEEKLY S1.

Jeff Bailey : 2/23/2006 1:56:03 PM

MWSE has backed off further to $47.55

Jeff Bailey : 2/23/2006 1:55:36 PM

ICE $49.06 -0.34% ... gives up daily pivot

Jeff Bailey : 2/23/2006 1:53:59 PM

Covering a short in ICE from last night's extended session here at DAILY Pivot.

Jeff Bailey : 2/23/2006 1:49:54 PM

Swing trade put close out alert ... Let's close out the entire ICE Mar $50 Puts (ICE-OJ) at the bid of $2.90

ICE $49.10

Jeff Bailey : 2/23/2006 1:42:06 PM

ICE alert $49.59 +0.73% .... slips back under WEEKLY S1.

ICE OJ $2.70 x $2.85

Jeff Bailey : 2/23/2006 1:32:53 PM

01:05 Internals found at this Link

Jeff Bailey : 2/23/2006 1:30:51 PM

Oh my! ... GOOG $380.85 +4.19% ... intra-day high

WEEKLY R1 here

Jeff Bailey : 2/23/2006 1:13:32 PM

01:05 Market Watch found at this Link

Jeff Bailey : 2/23/2006 1:11:53 PM

ICE $50.00 +1.56% ... probes session low here.

ICE-OJ $2.50 x $2.70

Jeff Bailey : 2/23/2006 1:01:17 PM

ICE $50.60 +2.78% ... Level II traders ... See MWSE on your NYSE, showing a bid now at $49.65?

Yesterday he was showing 10 at $48.10, all day.

Now... within the past couple of hours, MWSE was $52.25.

Backed off now, but right at WEEKLY S1.

Watch MWSE ... when stock approaches his bid/offer, watch and see if he stays there, or vanishes. If he vanishes and stock reverses, I think he is then taking offers agressive, or selling bid. Seems to dictate.

Held his offer $52.00 all morning. Now showing 1 at $51.61 and not in the game.

Jeff Bailey : 2/23/2006 12:54:06 PM

EIA Weekly Inventory data for Crude Oil, Gasoline, Distillate, Nat. Gas, Diesel, Jet Fuel at this Link

Jeff Bailey : 2/23/2006 12:29:14 PM

EIA Nat Gas Storage Regional Table Link

Jeff Bailey : 2/23/2006 12:21:24 PM

April Unleaded/Oil Crack still bearish for 5-days. Unleaded -3.70%, Oil -1.61%

Jeff Bailey : 2/23/2006 12:19:53 PM

VLO $54.45 -0.24% ...

SUN $75.52 +0.67% ...

Jeff Bailey : 2/23/2006 12:18:26 PM

ICE $50.38 +2.33% ...

Jeff Bailey : 2/23/2006 12:17:37 PM

OIX.X 552.17 -0.73% ... breaks below morning lows.

Jeff Bailey : 2/23/2006 12:14:55 PM

nq06h with two retracement (settle-to-settle) I like to use for a bull/bear bias at this Link ... With an understanding of PREMIUM, should make the tie with upcomming QQQQ chart.

Truth ... at last night's close I wasn't all that hopefull for our GOOG Mar $400 Calls into today's trade.

Jeff Bailey : 2/23/2006 12:04:38 PM

VLO $55.03 +0.87% ... 30-minute interval and chart we've been following/trading at this Link ... came very close to bear target, then got tagged on the stop. Retracement certainly still in play.

Jeff Bailey : 2/23/2006 11:56:18 AM

Current OPEN MM Profiles found at this Link

Jeff Bailey : 2/23/2006 11:48:30 AM

QQQQ not able to breach yesterday's highs. Traders following my QQQQ chart will note stock and futures (nq06h) couldn't hold a bullish close yesterday.

If near the close the QQQQ looks to close above $40.95-$41.02, then I'll look to re-enter GOOG Calls

Jeff Bailey : 2/23/2006 11:43:01 AM

Bullish call stop alert for the Google GOOG Mar $400 Calls (GOP-CT) at $5.90.

GOOG $375.89 +2.84% .... GOP-CT $5.80 x $6.00

Jeff Bailey : 2/23/2006 11:40:42 AM

ICE-OJ are $2.25 x $2.45. 123 contracts traded low/high $2.05 x $2.55

Jeff Bailey : 2/23/2006 11:39:58 AM

ICE $50.42 +2.41% ... updated 30-minute interval chart at this Link

Jeff Bailey : 2/23/2006 11:33:37 AM

Google (GOOG) 5-minute interval chart at this Link ... interesting action at our BROWN retracement (all-time high to PnF chart's prior bear count)

Jonathan Levinson : 2/23/2006 11:32:42 AM

I will need to leave in the next 10 minutes for an appointment and expect to be back by 2PM.

Jonathan Levinson : 2/23/2006 11:30:02 AM

Volume breadth up to -1.06:1 on the NYSE, +1.4:1 on the Nasdaq.

Jeff Bailey : 2/23/2006 11:27:48 AM

11:00 Internals found at this Link

Yesterday's Internals found at this Link

Jonathan Levinson : 2/23/2006 11:26:35 AM

New high for QQQQ at 41.39, within pennies of yesterday's high. So far there's a higher low for the day as well. Link

Jeff Bailey : 2/23/2006 11:18:10 AM

Bullish swing trade call raise stop alert ... on the Google GOOG Mar $400 Calls (GOP-CT) to $5.90.

GOOG $377.90 +3.34% ... GOP-CT $6.30 x $6.40. Have traded 3,085 with low/high $3.80/$7.10

Jonathan Levinson : 2/23/2006 11:07:52 AM

The size of today's coupon purchase by the Fed has just been announced, coming in at $949M.

Jonathan Levinson : 2/23/2006 11:04:01 AM

Volume breadth -1.6:1 on the NYSE, -1.25:1 on the Nasdaq.

Jeff Bailey : 2/23/2006 11:03:15 AM

11:00 Market Watch found at this Link

Jonathan Levinson : 2/23/2006 10:59:18 AM

The last coupon pass was 2 days ago, in the amount of 1.248B.

Jeff Bailey : 2/23/2006 10:59:15 AM

SUN-HQ are $5.20 x $5.40

Jeff Bailey : 2/23/2006 10:58:48 AM

SUN $76.34 +1.77% ... low/high has been $74.55/$76.66

Jeff Bailey : 2/23/2006 10:58:14 AM

VLO $55.31 +1.39% ... low/high has been $53.25/$55.73.

Jonathan Levinson : 2/23/2006 10:57:47 AM

Headlines:

10:57 Treasury: Fannie portfolio growth enabled accounting schemes

10:57 Treasury: Congress must limit GSE portfolios

10:57 Treasury: Rudman report shows Fannie Mae risks remain

Jonathan Levinson : 2/23/2006 10:57:28 AM

The Fed announces another coupon pass, which is the outright monetization of debt by purchasing bonds on a permanent basis from the fed's dealers (unlike a repo which is only a temporary borrowing of those securities). No amount has been announced yet.

Jeff Bailey : 2/23/2006 10:57:07 AM

ICE-OJ are $2.30 x $2.45 ... holding long still in MM and personal account.

Jeff Bailey : 2/23/2006 10:56:00 AM

ICE $50.58 +2.74% ... that pullback low came at, at, at .... $50.00

Jeff Bailey : 2/23/2006 10:50:17 AM

ICE $50.73 +3.04% ...

Jeff Bailey : 2/23/2006 10:49:51 AM

SUN $76.36 +1.79% ...

Jeff Bailey : 2/23/2006 10:49:08 AM

Swing trade short stop alert ... for Valero Energy (VLO) $55.60 +2% ... big morning reversal

Jeff Bailey : 2/23/2006 10:48:22 AM

GOOG 377.73 +3.35% ... 60-minute interval chart does have MACD edging above Signal.

Jeff Bailey : 2/23/2006 10:44:44 AM

Swing trade bullish call raise stop alert ... for the Google GOOG Mar $400 Call (GOP-CT) to $5.00.

GOOG $378.88 +3.64% here.

Jeff Bailey : 2/23/2006 10:42:04 AM

ICE alert $50.01 +1.58% ... off session highs of $51.90.

Jeff Bailey : 2/23/2006 10:41:17 AM

ICE $50.68 +2.78% .... quick little decline.

Jeff Bailey : 2/23/2006 10:39:58 AM

SUN $76.25 +1.65% ...

VLO $55.30 +1.37% ...

Jonathan Levinson : 2/23/2006 10:39:20 AM

QQQQ fills the gap, breaking above the 72 SMA for the first time today: Link

Jeff Bailey : 2/23/2006 10:39:01 AM

Active in MM profiles today ...

Jeff Bailey : 2/23/2006 10:38:14 AM

Yahoo! Inc (YHOO) $33.50 +1.0% ... 60-minute interval chart would have stock breaking above neckline of reverse h/s pattern.

Jeff Bailey : 2/23/2006 10:37:21 AM

Google (GOOG) alert 376.44 +3.05% Link ... trade at $376 gets stock's PnF chart back on a "buy signal."

Jonathan Levinson : 2/23/2006 10:36:43 AM

Headline:

10:32 U.S. natural-gas supply down 123 bln cubic ft: Energy Dept

Jonathan Levinson : 2/23/2006 10:34:17 AM

Crude oil -.4 at 60.60, 20 cents off the low.

Jonathan Levinson : 2/23/2006 10:32:24 AM

Natgas up to a .07 loss at 7.215.

Jonathan Levinson : 2/23/2006 10:31:57 AM

Headlines:

10:31 U.S. crude supply up 1.1 mln brls last wk: Energy Dept

10:31 U.S. gasoline supply up 100,000 brls: Energy Dept

10:31 U.S. distillate supply down 1.3 mln brls: Energy Dept

Jonathan Levinson : 2/23/2006 10:31:02 AM

From the EIA website:

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) rose by 1.1 million barrels from the previous week. At 326.7 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 inched higher by 0.1 million barrels last week, putting them above the upper end of the average range, and at the highest level seen since the week ending June 4, 1999. Distillate fuel inventories declined by 1.3 million barrels last week, but remain well above the upper end of the average range for this time of year. A decrease in low-sulfur distillate fuel (diesel fuel) inventories more than compensated for a slight increase in high-sulfur distillate fuel (heating oil) inventories. Total commercial petroleum inventories fell by 2.0 million barrels last week, but remain well above the upper end of the average range for this time of year.

Working gas in storage was 2,143 Bcf as of Friday, February 17, 2006, according to EIA estimates. This represents a net decline of 123 Bcf from the previous week. Stocks were 410 Bcf higher than last year at this time and 694 Bcf above the 5-year average of 1,449 Bcf. In the East Region, stocks were 381 Bcf above the 5-year average following net withdrawals of 75 Bcf. Stocks in the Producing Region were 219 Bcf above the 5-year average of 451 Bcf after a net withdrawal of 33 Bcf. Stocks in the West Region were 93 Bcf above the 5-year average after a net drawdown of 15 Bcf. At 2,143 Bcf, total working gas is above the 5-year historical range.

Jeff Bailey : 2/23/2006 10:27:21 AM

Current OPEN MM Profiles found at this Link

Jonathan Levinson : 2/23/2006 10:26:30 AM

Session low for ten year notes here at 107 53/64, TNX up 3.8 bps to 4.569%, steeper aagainst IRX which is up 1.5 bps to 4.467%.

Jeff Bailey : 2/23/2006 10:21:43 AM

ICE $51.70 +5.01% ... breaks above WEEKLY Pivot alert.

Jeff Bailey : 2/23/2006 10:15:16 AM

Google (GOOG) $373.37 +2.11% ... trades in "zone of resistance" from $372.82-$376.78.

Jonathan Levinson : 2/23/2006 10:09:49 AM

QQQQ has gap resistance at 41.22, 8 cents below the 72 SMA. Link

Jonathan Levinson : 2/23/2006 10:04:30 AM

The Fed had 20B in expiring repos to address, and has announced 21B via 12B 14-day repo and a 9B overnight, for a net add of 1B for the day.

Jeff Bailey : 2/23/2006 10:03:24 AM

Google (GOOG) $371.85 +1.72% ... set to test yesterday's highs.

Jeff Bailey : 2/23/2006 10:02:10 AM

Swing trade put adjust stop trigger alert ... for the ICE Mar. $50 Puts (ICE-OJ)

Implied Volatility all over the place and difficult to tie with stock's price action.

Let's simply place a stop on these puts if the stock trades $52.17.

ICE $51.28 +4.16% here ... ICE-OJ $2.05 x $2.25.

Jonathan Levinson : 2/23/2006 9:59:29 AM

QQQQ is due for a short cycle bounce, but it's holding down at the 30/60 min channel bottom. The longer it holds down below the 72 SMA, the greater the likelihood of an early abort tot he 60 min cycle upphase. Link

Jeff Bailey : 2/23/2006 9:51:48 AM

ICE $51.30 +4.20% ... after test of WEEKLY Pivot.

The ICE-OJ are $2.00 x $2.25, low/high has been $2.05/$2.55.

If not stopped at $2.50, let's place a stop at $1.80. I'll monitor on my Level II (not QCharts). I'm still holding the ICE-OJ in personal account, but now look to close out, especially on any decline back near WEEKLY S1 at this point.

Jeff Bailey : 2/23/2006 9:46:30 AM

VLO $53.50 -2.05% ...

SUN $75.62 -0.51% ...

Jonathan Levinson : 2/23/2006 9:35:41 AM

Volume breadth -2.4:1 on the NYSE, -1.65:1 on the Nasdaq at the open.

Jonathan Levinson : 2/23/2006 9:31:19 AM

QQQQ's 72 SMA is at 41.33, 30/60 min channel support being tested at 41.12-.17, resistance up at 41.47-.51.

Jeff Bailey : 2/23/2006 9:30:58 AM

ICE $50.20 +1.97% ... on 200 shares.

Jeff Bailey : 2/23/2006 9:27:50 AM

Last night I was visiting ICE's web page https://www.theice.com/homepage.jhtml .

A lot of good data under the "ICE DATA"

May come in handy in the future.

Jonathan Levinson : 2/23/2006 9:19:32 AM

A US judge ruled on Tuesday that Google (NASDAQ:GOOG)'s search engine for images had breached the copyright protection of a publisher of pornographic photographs, dealing one of the first legal blows to the company's core technology.

However, the internet search company said that, although it was "disappointed" by the finding, it believed the ruling would have "no effect on the vast majority of image searches" it conducts.

Link

GOOG +.94 here at 366.43

Jeff Bailey : 2/23/2006 9:14:20 AM

April Unleaded up 0.64% at $1.56.

April Crude Oil down 0.36% at $60.79.

Jeff Bailey : 2/23/2006 9:12:49 AM

ICE $49.23 ... trading $50.89 pre-market on light volume. Reported Q4 (Dec) earnings of $0.26 per share, excluding non-recurring items, in line with the Reuters Estimates consensus of $0.26; revenues rose 44.8% year/year to $41.3 mln vs the one analyst est of $40 mln. Co says in Q4, that it "completed a number of significant achievements that capped off a strong year."

Jonathan Levinson : 2/23/2006 8:47:27 AM

QQQQ holds flatlined below yesterday's "flagpole" range but still well above Tuesday's range along the lows. As of the close, the 30 min cycle was in a fresh and overdue downphase, while the 60 min cycle had not rolled over. Hopefully that opposition will resolve quickly at the open, as the usual result of the 30 min cycle fighting the 60 min is extended sideways chop. Link

Jonathan Levinson : 2/23/2006 8:32:13 AM

Session low for ZN ten year note futures printed on the report at 107 63/64, TNX now up 1.6 bps to 4.547%. QQQQ is down 7 cents at 41.19.

Jonathan Levinson : 2/23/2006 8:31:13 AM

Headlines:

U.S. weekly initial jobless claims fall 20,000 to 278,000

U.S. 4-week avg. initial claims fall 1,500 to 281,750

U.S. continuing jobless claims up 41,000 to 2.5mln

U.S. 4-week avg. continuing claims fall 20,000 to 2.5mln

U.S. 4-week avg. continuing claims fall to 5-year low

Jonathan Levinson : 2/23/2006 8:23:25 AM

Ten year notes are holding a 1/16 loss at 108 5/64, a small retracement of yesterday's big gain. TNX is quoted +.8 bps at 4.539%, FVX +1.3 bps at 4.581%, and IRX flat at 4.452%.

Jonathan Levinson : 2/23/2006 7:46:57 AM

Equities are mixed, ES trading 1292, NQ 1678, YM 11131 and QQQQ -.07 to 41.19. Ten year notes are down 1/32 to 108 7/64, crude oil is down .125 to 60.875, natgas is down .13 to 7.155, gold is up a dime to 556.60 and silver is up a penny to 9.571.

We await the 8:30 release of Initial claims, est. 285K, then at 10AM, the Help Wanted Index, est. 40, and the EIA crude oil and natgas reports at 10:30.

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