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OI Technical Staff : 2/24/2006 9:59:59 PM

The Market Monitor has been archived.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

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Jeff Bailey : 2/24/2006 7:28:26 PM

Sunoco (SUN) $77.96 +2.28% Link ... Get's a nice 4-box reversal higher (X from $76-$79) with today's action.

Bulls sure would like to see a trade at $81.00 to get the stock back on a "buy signal" and negate that bearish vertical count of $46.00.

The "market knows the future." The market is never wrong.

When you look at Unleaded vs. Crude Oil, you and I still have to wonder if the crack spread will improve.

I believe it will. There aren't a lot of new refineries being built and as we've seen, and are perhaps witnessing with the two charts posted at 07:11:08, there is some strength showing up in heating oil vs. crude.

Wednesday I made comment that the "surprise number" from Thursday's EIA data might just be the distillate figures.

Hold on to your hats.

The Point and Figure pattern a trader is on the alert for is the "triangle." Do you see the potential?

A BEARISH triangle would unwind if SUN reverses lower and generates a sell signal at $74. Remember! For a bullish or bearish triangle (Professor Davis' study at Purdue University) you need a minimum of 5 columns.

A BULLISH triangle could also unwind itself, but we would need to see a 3-box reversal back lower to $76, then a turn back higher and get a "buy signal" at $80.

Jeff Bailey : 2/24/2006 7:11:08 PM

Heating Oil (distillate) helped the refiners today. Two chart Relative Strength montage at this Link

Jeff Bailey : 2/24/2006 6:37:42 PM

04:12 PM EST Temperatures with April Nat. Gas and Heating Oil settlements at this Link

April Unleaded settled up 2.26% at $1.6087.

April Crude Oil settled up 3.91% at $62.91.

Jeff Bailey : 2/24/2006 5:14:15 PM

Current OPEN MM Profiles found at this Link

Today's Activity ... Swing trade shorted 1/2 position in shares of AMR Corp. (AMR) at the bid of $25.20. Stop for now is tight at $25.60 with initial target of $24.10 (What to look for at 01:33:09).

Trade Blotter of CLOSED Trades Month-to-date at this Link

Totals in "yellow" are those that would reflect no risk management, where 1,000 shares traded regardless of stock's price.

Warning!

I run the MM Profiles as a RISK managed account, where $10,000.00 in the underlying stock/security would equate to a "full position."

This allows traders with an account of ANY SIZE to trade my MM profiles.

Jeff Bailey : 2/24/2006 4:16:05 PM

Buy Program Premium ... just prior to the 04:15 futures close.

Jeff Bailey : 2/24/2006 3:58:10 PM

AMR $25.23 -2.47% ...

Jeff Bailey : 2/24/2006 3:56:18 PM

Oh yes ... I did note yesterday when GOOG kissed its WEEKLY R1. That's probably it.

21-day SMA (see lower left corner) and recent highs. Does seem influencial too.

I still like a "bullish settlement" on the nq to push me back long the GOOG. Use that as a trigger.

Jeff Bailey : 2/24/2006 3:53:23 PM

Google Inc. (GOOG) ... Here's a preliminary look with a GREEN retracement Link ... Other than what is going on with the NQ and QQQQ retracements, I can't figure out why GOOG stalls around $380.

Maybe need to take a look at the NDX/QQQQ option chains. See where OI is at. If that is in play.

Jeff Bailey : 2/24/2006 3:38:28 PM

Google (GOOG) ... here's my bar chart with the BROWN retracement Link ... Looks like buyers (bulls or short-covering bears) are trading off that BLUE one. Even the PINK one from a couple of days ago!

For grins... I'm going to delete the BROWN retracement, make a GREEN one with 100% at the current bullish vertical count.

Jeff Bailey : 2/24/2006 3:31:42 PM

Do I dare remove my BROWN retracement bracket from GOOG's bar chart. Stick one on from the recent low of $337.83 and drag it up to the currently building bullish vertical count of $464? PnF chart of GOOG $377.40 -0.17% Link

Jeff Bailey : 2/24/2006 3:24:37 PM

Jonathan ... Have you performed any March expiration work for the QQQQ, or NDX?

Jeff Bailey : 2/24/2006 3:24:07 PM

nq06h ... updated daily interval bar chart Link

Jane Fox : 2/24/2006 3:19:28 PM

Link

Jane Fox : 2/24/2006 3:18:33 PM

If, for some reason, the bulls can't muster new highs from $SPX, then a decline toward the lower end of the trading range -- circa 1260 would probably materialize. This does not seem to be the most probable path at the current time.

The most negative of our indicators is the equity-only put-call ratio. Both the weighted and standard ratios moved to sell signals in early February and have not budged ever since. These are normally quite accurate indicators, and it is unusual to see both of them 'fighting' the market like this. In any case, you can see from the charts at the top of this page that they haven't begun to roll over to buy signals yet. Furthermore, neither is what one would consider seriously oversold that would occur if they were near the top of their respective charts. In the past, when these indicators have been 'wrong,' they have generally been early (July 2002 buy signal and December 2004 sell signal). That is something to keep in mind.

Breadth (advances minus declines) has improved tremendously in the last week and half, as this market has basically put together this rally on the back of four very strong trading days (Feb 14, 15, 16, and 22).

Finally, volatility indices ($VIX and $VXO) have returned to very low levels -- breaking the bearish uptrend lines that had previously existed. As a result, these $VIX levels are accommodative to a bullish phase.

In summary, only one of our indicators -- albeit an important one (the put-call ratio) is on a sell signal. Thus the market can certainly move higher. However, it is doing so without the benefit of true buy signals such as we saw last October. For example, while breadth may not be giving sell signals (especially, NYSE breadth), we are a long way removed from the last time that breadth was truly negative and oversold. Similarly, $VIX buy signals come when $VIX makes a spike peak. The last time that happened was over a month ago, and even that was a lukewarm spike -- only to 14.50 on $VIX. So, while we feel that the market can move higher, we are not really enthused with its underlying technical backing.

Jeff Bailey : 2/24/2006 3:18:24 PM

03:00 Internals found at this Link

Jane Fox : 2/24/2006 3:16:10 PM

McMillan's weekly update The ball is back in the bulls' court, since -- for the second time in recent months -- the latest downside breakout failed miserably. We highlighted this information in last week's Hotline update, noting that both in late December and most recently in early February, $SPX broke below support, but failed to follow through. Now, we are nearing the top of this year's trading range, and it appears that $SPX might be able to break out on the upside. It is time for the bulls to be similarly frustrated by a false upside breakout? The last upside breakout -- in early January -- really didn't carry very far (about 20 $SPX points) before failing. So, in general, it appears that a strategy of fading the breakouts is the best one this year.

We would expect any upside breakout to engender some follow-on buying from both short covering and from momentum traders (aided by the boost the media will provide). Whether it would be worth more than 20 $SPX points is hard to determine, though. Such an upside move would be taking place without benefit of true oversold buy signals, and hence it is likely that it would run out of gas fairly soon -- just as the early January rally did.

The charts of the major averages are currently as divergent as they've ever been. The Dow ($DJX) is leading the way, having broken out to 4-1/2 year highs over a week ago and continuing to add to those gains. $SPX is lagging behind, though, having so far failed to exceed the January highs (which would place it at 4+ year highs, too, if it did). But worst of all is QQQQ, which is still struggling with its down trend line that has been in place since the January tops. At least $SPX has been able to penetrate its similar downtrend line. When the Dow is the leader for too long of a period of time, that is often considered to be a negative for the market (the 'generals' are out in front of the 'troops,' who refuse to follow -- if you prefer a military analogy). So, the bulls need $SPX to move to new highs and take over the leadership from the Dow. From a larger perspective, the market often does best when QQQQ leads, but that doesn't seem to be in the cards right now... More later

Jonathan Levinson : 2/24/2006 3:05:31 PM

Volume breadth +1.6:1 on the NYSE, +1.9:1 on the Nasdaq.

Jeff Bailey : 2/24/2006 3:04:05 PM

03:00 Market Watch found at this Link

Jeff Bailey : 2/24/2006 3:00:19 PM

Russell 2000 Index ($RUT.X) alert 736.81 +0.59% ... new 52-weeker here.

Jeff Bailey : 2/24/2006 2:47:40 PM

Sugar ... Remember that interview on CNBC more than a year ago with Jim Rogers? He was bullish on sugar.

I thought his bowtie had gotten a little to tight.

Jeff Bailey : 2/24/2006 2:36:12 PM

Sunoco (SUN) $78.59 +3.10% ... 30-minute interval chart with our retracement brackets at this Link

Profiled the current Aug $85 Calls on the early morning 02/21/06 "pullback."

Jeff Bailey : 2/24/2006 2:26:42 PM

Me thinks AMR is going to close out at $25.25 ... if so ... next week's WEEKLY Pivot levels will be ... $23.06, $24.16, Piv= $25.40, $26.50, $27.74.

Jeff Bailey : 2/24/2006 2:23:54 PM

Current OPEN MM Profiles found at this Link ... Hmmmm Heating Oil a distillate, which may mirror price action of jet fuel showing some relative strength vs. oil.

Jonathan Levinson : 2/24/2006 2:12:02 PM

A quick blitz back above the 72 SMA here for QQQQ, turning the short cycle indicators up within the sidways 30 min cycle and the ongoing 60 min channel downphase. Volume is still very light for the Qs today, and price unchanged from its opening levels. Wasn't op-ex Friday last week? Link

Jeff Bailey : 2/24/2006 2:07:20 PM

Precious Metals Sector Bullish % ... is overbought at 72% reading and reversing lower from 80% reading, so higher risk for bulls, but still "bull confirmed" (turned bull confirmed on 11/15/05). It would take a reading of 68% to turn "bear alert" status.

If I short here, risk to a buy signal is ... $5.00.

Any options that look good for less than $5.00?

Jane Fox : 2/24/2006 2:05:47 PM

Dateline WSJ A federal judge in Virginia declined to issue an immediate injunction Friday to shut down the popular BlackBerry email service, setting the stage for a continuing legal battle between device maker Research in Motion Ltd. and patent holding firm NTP Inc.

U.S. District Judge James Spencer admonished RIM for not settling its patent dispute with NTP. "You have left this incredibly important and critical decision to the court," Judge Spencer said, adding that his legal remedy for the dispute "will be imperfect" for RIM's business.

Jeff Bailey : 2/24/2006 2:00:44 PM

Newmont Mining (NEM) $57.87 +2.31% ... is finding some resistance at WEEKLY R1 ($57.94).

$57.70 has/had been resistance since broken to downside on 2/07/06.

I don't know George ... Might have to check short interest. If it is "high," there could be trouble for a bear much above these levels.

Jeff Bailey : 2/24/2006 1:56:13 PM

Bank of America (BAC) $45.75 +0.81% ... a little late, but ....

Yesterday morning I got an upside al_rt from my QCharts on a "bad tick" to $45.71.

Pulled up a chart and didn't think anything of it.

Check out where BAC closed yesterday.

Looks like a good tick this morning down to $44.94

Jeff Bailey : 2/24/2006 1:50:33 PM

Did anyone make the tie with your Level II Market Maker ID and MWSE (as it relates to NYSE listed stocks)?

Jeff Bailey : 2/24/2006 1:46:44 PM

PetroChina (PTR) $99.96 +1.84% ... back above WEEKLY R2 ($99.85) here.

60-minute interval has MACD just moving above Signal. Both above zero.

Jeff Bailey : 2/24/2006 1:45:18 PM

Short/put candidate? ... Jeff check out NEM, it sure looks like it could be a great short-put candidate, down to mabe $45. Hope you and Drake are doing well. Finally starting to warm up here a bit, it was cold the last couple of weeks. Heck I had to put a coat on.

"Guitar" George

Will try and take a look!

NEM $57.965 +2.45% Link

Jeff Bailey : 2/24/2006 1:38:06 PM

Guess who is still hold one (1) of six (6) March $50 Puts in his account?

Jeff Bailey : 2/24/2006 1:36:29 PM

Holy deep freeze ... ICE $55.16 +10.54%

Right at WEEKLY R2.

Yesterday's close above WEEKLY S1 WAS bullish. Bugger opened at WEEKLY Pivot and bulls shoved it down the bear's throat didn't they?

Or Morgan Stanley did.

Jonathan Levinson : 2/24/2006 1:34:51 PM

QQQQ returns to the 72 SMA here, the short cycles rolling back over in a so-far sideways/corrective downphase: Link

Jeff Bailey : 2/24/2006 1:33:09 PM

AMR Corp. (AMR) $25.28 -2.28% ... Here's a 60-minute interval chart with QCharts' WEEKLY Pivot levels at this Link ... Time of interest and pattern recognition I'm/we're playing is circled.

I think my $24.10 target is "conservative" at this point. Hmmmm.... see that 200-pd SMA? Hmmm.... saw some March $22.50 put SELLING this morning.

$22.50 might be a "max target" for a swing trader.

Jeff Bailey : 2/24/2006 1:16:37 PM

01:00 Internals found at this Link

Jeff Bailey : 2/24/2006 1:10:38 PM

SUN $78.48 +2.96% ... just hang'n around. Right in that $77.52-$78.65 retracement zone.

Jonathan Levinson : 2/24/2006 1:08:14 PM

Currently, ten year note yields hold a 1 bp gain at 4.577%, IRX +.5 bps at 4.482%.

Jonathan Levinson : 2/24/2006 1:07:14 PM

Headlines:

Fed's Poole opposes faster release of meeting transcripts

Poole: FOMC statement has too many rhetorical flourishes

Poole: Quarter point rate moves should be norm

Poole wants policy that all rate moves come at meetings

Jeff Bailey : 2/24/2006 1:05:29 PM

01:00 Market Watch found at this Link

Jeff Bailey : 2/24/2006 12:57:50 PM

AMR $25.34 -2.04% ... market participants don't seem overly concerned about 2-week decline in jet fuel inventory and today's jump in oil prices do they?

If we can hang in here, Wednesday's EIA data might change some minds.

Jonathan Levinson : 2/24/2006 12:55:28 PM

Volume breadth +1.5:1 on the NYSE, +1.65:1 on the Nasdaq.

Jeff Bailey : 2/24/2006 12:53:30 PM

Goog (GOOG) $379.74 +0.44% ... Yesterday, on Level II, SBSH was showing some big size at $380.00.

I don't see him there right now, but the stock ticked a high of $380.07.

Yesterday I mentioned a h/s top on the 5-minute chart. This is right back at the "right shoulder."

I have an ascending neckline from yesterday's 11:45 AM relative low ($375) then rising to the 02:00 PM relative low ($376.50)

Jeff Bailey : 2/24/2006 12:32:47 PM

Google (GOOG) $378.56 +0.15% ... gets green.

Jeff Bailey : 2/24/2006 12:31:01 PM

AMR $25.31 -2.12% ... sellers hit it didn't they? Watch what happens if it breaks WEEKLY Pivot of $24.97 today.

I saw some Mar $22.50 Put selling this morning for $0.45 per contract. That's not a bad trade (short; sell the out the money on volatility spike).

Jeff Bailey : 2/24/2006 12:26:08 PM

AMR $25.48 -1.50% ... back above this morning's gap lower high.

Nasty looking "doji top" yesterday. Link

Jeff Bailey : 2/24/2006 12:19:04 PM

Bullish % for Oil (BPOIL) from Dorsey Wright at this Link ... Months Jan-Sep are 1-9; Oct-Dec are A-C (can't put 2 digits in a box)

Jonathan Levinson : 2/24/2006 12:10:13 PM

QQQQ 15 min chart at this Link with this morning's break holding below the 72 SMA in what looks like a weak flag. Volume is light at 31.6M shares so far, but with the oscillators trying to bottom in this timeframe. The low volume suggests that neither side is willing to take a firm stand on the outcome.

Jeff Bailey : 2/24/2006 12:08:33 PM

PetroChina (PTR) $99.24 +1.11% ... PnF chart with some observations at this Link ... Sector Bullish % is "bear alert" at 50%, which isn't all that bad of field position to nip away at some longs.

PTR is one of the strong ones and shows PnF chart on a buy signal. Triple top and spread triple top buy signals have been POWERFUL for this stock.

Negative as I see it for anything more than a 1/2 position is stock trades at the top of its 10-week trading band. If/when sector bullish % reverses up, then not as much of a concern. Especially from 50% and mid-field.

The BLUE question marks is my envision of how the stock may trade near-term. Regardless, a trade at $102 is BULLISH in my opinion!

I'm going to "watch list" in my MM Profiles. I do use account management and I don't want to get too much on one side of an oil trade. (Long SUN, Short AMR).

Jonathan Levinson : 2/24/2006 11:34:09 AM

Volume breadth +1.2:1 on the NYSE, 1:1 on the Nasdaq.

Jeff Bailey : 2/24/2006 11:16:45 AM

11:00 Internals found at this Link

Jonathan Levinson : 2/24/2006 11:07:27 AM

QQQQ bouncing from 41.00 support with the short cycle in an oversold trending move and the wavelet taking another upphase. First sign of trouble for the bears will be a break above the 72 SMA at 41.25. Link

Jeff Bailey : 2/24/2006 11:03:51 AM

11:00 Market Watch found at this Link

Jeff Bailey : 2/24/2006 10:57:56 AM

PetroChina (PTR) options montage Link

Would be looking June expiration

Jeff Bailey : 2/24/2006 10:51:46 AM

Aluminum Corp. China (ACH) Link ... I just couldn't get past the psychological $100 to profile a long.

Live and learn?

Jonathan Levinson : 2/24/2006 10:47:37 AM

Volume breadth +1.05:1 on the NYSE, -1.5:1 on the Nasdaq.

Jeff Bailey : 2/24/2006 10:47:14 AM

Question on oil candidate ... Jeff and Jim,

Hindsight is 20/20 but I've been looking at the meteoric path of ACH's point and figure chart and wonder if PTR will follow once we get past this seasonally weak period for the oil stocks. So far it has been holding up well during a breakdown period for most oils. At 99 it has a lot of potential to meet its bullish vertical target of 142 Link

I'd like your opinion.

Curtis on Maui

Hello Curtis! Thought you fell into the ocean.

Hindsight is 20/20. I almost profiled a bullish trade in ACH when I got stopped out of the bearish Alcan (AL) trade.

I've been busy this week. However, I will also note that many of the Crude Oil futures point and figure charts just recently achieved bearish vertical counts.

PTR looks strong and overhead supply is limited!

Looking at an option montage as I type.

PTR $99.43 +1.30%

Seeing some April $110 and $105 PUT selling

Jeff Bailey : 2/24/2006 10:40:18 AM

CME Housing Futures and Options introduction at the Waldorf Astoria Hotel in Midtown, New York. March 21, 2006. You're all invited Link

Jonathan Levinson : 2/24/2006 10:33:17 AM

Session high for crude oil, now +2.125 at 62.675.

Jonathan Levinson : 2/24/2006 10:32:40 AM

Session low for bonds here, TNX now up 1.2 bps to 4.579%, QQQQ testing flag support at 41.10: Link

Jeff Bailey : 2/24/2006 10:26:47 AM

Bearish swing trade short alert ... for 1/2 position in AMR Corp. (AMR) $25.20 here, stop $25.60, target $24.10

Jeff Bailey : 2/24/2006 10:19:53 AM

Sell Program Premium ... DIA $110.48, SPY $129.14, QQQQ $41.22

Jeff Bailey : 2/24/2006 10:14:03 AM

ICE $54.09 +8.39% Link ... Trade at $54 negates bearish vertical count.

Jeff Bailey : 2/24/2006 10:09:55 AM

10:07 Market Watch at this Link

Jonathan Levinson : 2/24/2006 10:08:12 AM

Volume breadth +1.35:1 on the NYSE, -1.15:1 on the Nasdaq here.

Jonathan Levinson : 2/24/2006 10:05:41 AM

QQQQ trading both sides of 41.20 confluence here- bulls need to see a break of the declining 72 SMA at 41.33 to stall the ongoing 30 min channel downphase. Link

Jeff Bailey : 2/24/2006 10:04:38 AM

Level II Traders here's a link of Market Maker IDs Link

Jeff Bailey : 2/24/2006 10:00:08 AM

Matrix Service (MTRX) $11.00 +2.13% Link ... X gets the square. New 52-weeker.

Jane Fox : 2/24/2006 9:55:07 AM

Dateline WSJ Crude-oil futures rallied sharply Friday, as energy traders weighed an explosion at a Saudi refinery, as well as a host of political concerns affecting several large oil-producing nations.

The explosion in Saudi Arabia, along escalating tensions in Iraq and a report of more trouble for Royal Dutch Shell PLC in Nigeria boosted crude futures. Crude for April delivery was up $1.33 a barrel to $61.87, after a report of an explosion and shots fired at an eastern Saudi Arabian oil refinery. However, a television report indicating that the flow of oil was only briefly disrupted has caused oil prices to fall back after nearly hitting $63 a barrel.

Gasoline futures were last trading up 1.4 cents at $1.5275 a gallon, while heating oil was up 2.6 cents at $1.689 a gallon. Natural gas fell 15.8 cents to $7.30, after closing up 2.4% on Thursday.

Jonathan Levinson : 2/24/2006 10:00:39 AM

The Fed has 9B in overnight repos expiring this AM, and has just announced a 7B 5-day repo, draining net 2B for the day.

Jeff Bailey : 2/24/2006 9:54:36 AM

ICE $53.24 +6.69% ... gets an upgrade from Morgan Stanley. This reverses their downgrade from January 27 when ICE was trading $50.00.

Jeff Bailey : 2/24/2006 9:46:40 AM

Buy Program Premium ... DIA $110.65, SPY $129.17, QQQQ $41.18

Jeff Bailey : 2/24/2006 9:45:49 AM

Valero Energy (VLO) $56.18 +2.44% ...

Jeff Bailey : 2/24/2006 9:45:22 AM

Sunoco (SUN) $79.25 +3.84% ...

Jeff Bailey : 2/24/2006 9:44:18 AM

April Unleaded +1.91% , April Crude +2.47%

Jane Fox : 2/24/2006 9:37:38 AM

AD line is a -547 and AD volume is below the 0 line so the bears have the reins.

Jonathan Levinson : 2/24/2006 9:36:18 AM

Volume breadth is -1.1:1 on the NYSE, -1.55:1 on the Nasdaq at the open.

Jonathan Levinson : 2/24/2006 9:33:33 AM

QQQQ's 72 SMA resistance is at 41.38, 30/60 min channel support 41.20, resistance 41.50-.55.

Jonathan Levinson : 2/24/2006 9:11:25 AM

WASHINGTON (MarketWatch) - New orders for U.S.-made durable goods plunged 10.2% in January as aircraft orders dried up after three months of strength, the Commerce Department reported Friday. The decline was the largest since July 2000 and far exceeded the 2.5% drop expected by economists. Aircraft orders fell 68.2% in January after averaging more than three times the normal level from October through December. Total transportation orders fell 31.2%. Bookings were healthier elsewhere in the durable goods industries, but the performance was mixed across sectors. Excluding transportation goods, total orders rose 0.6%. Core capital equipment orders fell 0.4%.

Jonathan Levinson : 2/24/2006 9:05:00 AM

QQQQ's 30 and 60 min cycles are in downphases, both still above the midpoints of their ranges. Price holds near the midpoint of this week's range, and only the short cycle was looking oversold as of yesterday's close. I will update the intraday levels when they refresh at the opening bell.

Jonathan Levinson : 2/24/2006 8:56:33 AM

Headlines:

8:54 Saudi authorities foiled attempt on oil refinery: report

8:53 Saudi explosion was of attacking vehicle: report

Jonathan Levinson : 2/24/2006 8:31:49 AM

TNX holds a 2 bp drop at 4.547%, session highs for gold, silver, oil, QQQQ flat at 41.15.

Jonathan Levinson : 2/24/2006 8:30:58 AM

Headlines:

8:30 U.S. Dec. durable goods orders revised to 2.5% vs. 1.8%

8:30 U.S. Jan. durable goods inventories rise 0.3%

8:30 U.S. Jan. durable goods shipments fall 1.3%

8:30 U.S. Jan. aircraft orders fall 68.2%

8:30 U.S. Jan. core capital goods orders fall 0.4%

8:30 U.S. Jan. durable goods ex-transportation rise 0.6%

8:30 U.S. Jan. durable goods orders fall 10.2% vs. -2.5% expected

Jonathan Levinson : 2/24/2006 8:22:22 AM

Session high for gold, +4.2 to 555.40. Ten year notes +1/4 to 107 61/64, TNX -2 bps to 4.547%.

Jonathan Levinson : 2/24/2006 8:21:09 AM

Crude oil +1.45 to 62 here, off the high of 62.175.

Jonathan Levinson : 2/24/2006 8:20:13 AM

Reports: Blast At Oil Refinery Updated: 13:17, Friday February 24, 2006

There are reports of an explosion and shooting at the Abaqiq oil refinary in Saudi Arabia.

Link

Jonathan Levinson : 2/24/2006 8:15:44 AM

Headline:

Explosion heard at E. Saudi oil refinery: AP, quoting TV

Jonathan Levinson : 2/24/2006 8:12:42 AM

Session high for ten year notes and crude oil, session low for YM at 11086.

Jonathan Levinson : 2/24/2006 7:35:50 AM

Equities are up, ES trading 1292.25, NQ 1680.5, YM 11107 and QQQQ +.11 at 41.26. Gold is up 2.30 to 553.50, silver is up .045 at 9.51, ten year notes are up 3/64 to 107 7/8, crude oil is up 1.125 to 61.675 and natgas is down .02 to 7.44.

We await the 8:30 release of durable odors, est. -2.0%, prior +1.8%.

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