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OI Technical Staff : 3/3/2006 9:59:59 PM

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Jeff Bailey : 3/3/2006 7:50:51 PM

Current OPEN MM Profiles found at this Link

Today's Activity ... Swing trade closed out the Newmont Mining NEM June $57.50 Puts (NEM-RA) at the bid of $6.20 ($+1.47, or +31.08%)

Day traded long in extended session 1/2 bullish position for Research in Motion (RIMM) at $74, but sold shy of target at $82.50 ($+8.50, or +11.49%)

Jeff Bailey : 3/3/2006 7:23:19 PM

Closing Internals found at this Link

Jeff Bailey : 3/3/2006 7:10:01 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 3/3/2006 6:38:51 PM

RIMM $85.70 ... recent short interest at this Link

Jeff Bailey : 3/3/2006 6:26:49 PM

RIMM gets some trade at $86.00

Jeff Bailey : 3/3/2006 6:26:02 PM

RIMM $85.50 ... Using February's High/Low/Close of $78.38, $67.01, $70.60... March MONTHLY Pivot Levels ... $60.63, $65.61, Piv= $72.00, $76.98, $83.37.

Jeff Bailey : 3/3/2006 6:22:00 PM

RIMM ... $85.28 ... WEEKLY Pivot Levels for next week are ... $68.05, $69.99, Piv= $71.86, $73.80, $75.67.

Jeff Bailey : 3/3/2006 6:09:37 PM

RIMM ... Updated Level II Link

Jeff Bailey : 3/3/2006 6:03:36 PM

TRADER Alert ... if you got filled at a "favorable" price I strongly suggest you PRINT OUT your broker's ORDER EXECUTIONS. Use the Level II screen capture I posted too. Like this Link

Sometimes it pays to stay a little late.

Jeff Bailey : 3/3/2006 5:56:27 PM

RIMM $83.50 ... extended session high has been .... $85.53.

That's pretty close to $86.00

Jeff Bailey : 3/3/2006 5:52:33 PM

RIMM $84.85 ... extended session high so far .... $85.00.

Jeff Bailey : 3/3/2006 5:51:10 PM

Filled alert ... at $83.00

Jeff Bailey : 3/3/2006 5:50:07 PM

Extended trade sell long alert .... Let's dump the RIMM at $82.50.

Jeff Bailey : 3/3/2006 5:47:11 PM

Yahooeee!, I got filled at $74.00.

Jeff Bailey : 3/3/2006 5:46:24 PM

Check your account and see if you got "lucky" ... First ticks were $72.00.

Jeff Bailey : 3/3/2006 5:45:36 PM

RIMM alert ... released for trade .... $81.00

Jeff Bailey : 3/3/2006 5:45:11 PM

RIMM Level II NASDAQ top (no bids/offers during halt) and INET on the bottom (open orders. Don't know if they are extended session, or cash session) Link

Jeff Bailey : 3/3/2006 5:38:41 PM

NASDAQ Trading halts Link ... RIMM looks to resume in about 2 to 7 minutes.

Jeff Bailey : 3/3/2006 5:36:27 PM

RIMM March/April Options Montage at today's close Link ... Can't trade the options, but there might be some market makers that need to.

Tough to put out a "blind bid", but might get some ticks at $74 when trade halt lifted.

INET showed some offers from $72-$73.60

Those traders might have left for the weekend, and they could be fair game if GTC extended.

"Excessive" buying at $75 Call strikes with UpTick Vol. April $75 + $5.03 hints that somebody at least thinking $80.00.

Jeff Bailey : 3/3/2006 5:23:01 PM

Research in Motion (RIMM) $71.92 +0.74% ... halted.

Issues updated Q4 quarterly results Link

Jeff Bailey : 3/3/2006 5:16:43 PM

Bullish swing trade long alert ... Let's place an order to buy 1/2 bullish position at a LIMIT price of $74.00 in extended session if stock resumes trading.

Stop would go $69.00, with target of $86

Jeff Bailey : 3/3/2006 5:12:50 PM

Research in Motion (RIMM) Link ... to pay $612 million to NTP to settle long-running patent dispute.

Jeff Bailey : 3/3/2006 5:09:46 PM

Weird action in BIDU ... 03:49:49 tick was 500 shares at $52.45, 04:00:00 (close tick) was 500 shares at $52.21, then 50,000 blocked at $52.30 (04:06:12) followed by others. QCharts' Time/Sales "Form T"

Jeff Bailey : 3/3/2006 5:08:48 PM

Research in Motion (RIMM) alert $71.92 +0.74% ... halted for trade.

Patent settlement with NTP

Jeff Bailey : 3/3/2006 3:57:56 PM

Very "psycho" market. GOOG has no part in the INDU/YM, but both tracked each other pretty darned closed since Tuesday.

Jeff Bailey : 3/3/2006 3:56:12 PM

I think yesterday's action in NEM (lower in the morning, then +3%) was largely short covering, but option action chain/montage action has me thinking stock trades sideways, to higher.

Jump in YIELDS may bring some "inflation bulls" into the picture next week. NEM looks cheap (price wise from where it has been) relative to other names.

Jeff Bailey : 3/3/2006 3:50:54 PM

Swing trade put close out alert ... let's close out the Newmont Mining NEM Jun $57.50 Puts (NEM-RA) at the bid of $6.20.

NEM $53.22 -1.71%

Jeff Bailey : 3/3/2006 3:29:44 PM

03:09 Internals found at this Link

Jeff Bailey : 3/3/2006 3:12:04 PM

03:09 Market Watch found at this Link

Jeff Bailey : 3/3/2006 3:07:28 PM

GOOG Option Chain ... sorted by most active at this Link

Jeff Bailey : 3/3/2006 2:57:18 PM

GOOG $379.00 +0.71% ... correction to earlier post. I had a "bad tick" to WEEKLY Pivot. GOOG's afternoon low $375.76 (just filled this morning's gap higher)

Jeff Bailey : 3/3/2006 2:49:36 PM

Baidu.com (BIDU) $53.25 Link ... its checked its WEEKLY Pivot this morning.

Also got a 3-box reversal higher.

Bears would sure like to see BIDU get flushed at $50 next week, but the pattern of "higher lows" notable.

Bears want something similar to January (after Red 1)... 3-box reversal higher, then a flush.

Action today at WEEKLY Pivot somewhat encouraging.

Jeff Bailey : 3/3/2006 2:43:59 PM

GOOG $379.50 +0.81% ... after "checking in" at its WEEKLY Pivot.

Jeff Bailey : 3/3/2006 2:41:29 PM

Sunoco (SUN) $78.53 +0.61% Link ... DJ - Company awards CEO Bonus of $2.64 million for 2005.

Jeff Bailey : 3/3/2006 2:13:31 PM

Current OPEN MM Profiles found at this Link ... Start to provide some focus on the 20DyNet% changes between Crude Oil and Unleaded.

Let's take a look at some option montages as we might start to see some shorts looking to cover in the refiners next week. Get a spike to sell some March out the money calls against.

Jeff Bailey : 3/3/2006 1:57:38 PM

Broker/Dealer Index (XBD.X) 227.53 +1.39% ... 52-weeker. Merrill may not have lost their mind.

Jeff Bailey : 3/3/2006 1:52:33 PM

April Unleaded (hu06j) $1.72 +1.77% ... nice bid

April Crude (cl06j) $63.60 +0.37% ...

Jeff Bailey : 3/3/2006 1:29:12 PM

01:00 Internals found at this Link

Jeff Bailey : 3/3/2006 1:11:12 PM

Baidu.com (BIDU) $53.95 +2.56% ... After testing WEEKLY Pivot $54.78 and DAILY R2 $54.53.

Bears not out of the woods, but sellers were where we needed them to be.

Jeff Bailey : 3/3/2006 1:06:32 PM

01:00 Market Watch found at this Link

Jeff Bailey : 3/3/2006 1:00:03 PM

GOOG here's an updated chart to the work we did Wednesday night. Both the BLUE and RED were the recent relative lows. BLUE we attached to our $410 Naked Call strike. RED the $400. Link

The YELLOW zones really did a good job, or matched what we analyzed from the option montage.

How does a computer manage things? Month by month, week by week, day by day (pivot levels).

Jeff Bailey : 3/3/2006 12:42:02 PM

GOOG April Options Montage found at this Link ... Yesterday's $400 Call action was about even in Dn/UpTick volume. OI Increased by 1,398.

That $310 Put, which was atop the most actives on Tuesday has OI increasing further.

Note how Implied Volatility in the OUT the money puts still higher compared to the OUT the money calls, where IV has been dropping.

Jeff Bailey : 3/3/2006 12:29:02 PM

Buy Program Premium ... DIA $110.55, SPY $129.52, QQQQ $41.84

Jeff Bailey : 3/3/2006 12:14:18 PM

GOOG e-mail from yesterday afternoon ... Jeff- what about a straddle on GOOG. Mar320 put-Mar400 call. Should be a big move after conference?

Reply: Sorry I didn't see your e-mail until this morning.

Not a bad idea, but I'd be looking to "sell the reaction" and any spike in volatility if you did put on the trade.

Tab Gilles : 3/3/2006 12:06:37 PM

Intel (INTC) With today's news from Intel on 1st Q revenues below expectations the stock is only down $0.40. Has all the negative news been factored into the stocks price? The chart indicates a possible bottom taking place. In 2004 the stock was bottoming as this news came out. Link Currently the news is this... Link

The Jan. $20 '07 Call LEAP (VNLAD) looks interesting here.

INTC daily chart... Link

I would like to see how much Intel 's gross margins will be before becoming more bullish or adding to any position.

Jeff Bailey : 3/3/2006 11:49:02 AM

ICE alert $61.43 +3.48% ... If I had held two of the $55 Puts and then bought 100 shares a couple of days ago, I'd sell long the 100 shares up here, see if you can't get a pullback to close out the $55 puts.

Work up the numbers what you paid for the $55 puts you held, what you're up on the underlying stock.

Monday's 03:30:02 PM Post

Jeff Bailey : 3/3/2006 11:39:04 AM

Baidu.com (BIDU) $54.39 +3.40% ... 15-minute interval chart at this Link

Jeff Bailey : 3/3/2006 11:28:58 AM

11:05 Internals found at this Link

Jeff Bailey : 3/3/2006 11:11:43 AM

11:05 Market Watch found at this Link

Jane Fox : 3/3/2006 11:18:06 AM

McMillan's weekly commentary. We are not the only ones finding this market hard to figure out. I can't recall ever seeing a market that had so little follow-through from one day to the next. This week started with $SPX probing above 1295, to 4-1/2 year highs. However, that rally didn't hold, and the market nose-dived late on Monday and all day Tuesday. Since then, it has bounced back and forth. The net result is that the 1295 area still represents significant resistance for $SPX. This is doubly important because the Dow is still the only one of the three broad-based indices that is at new highs (QQQQ is lagging badly), and that is a situation which is not "healthy" for the market in the long run. If $SPX can penetrate and close above 1295, a short-term rally should propel the market higher -- because of short-covering and momentum trading, if for no other reason. However, if $SPX can't get through there, then the downside becomes important. There is support at 1275-1280, but if that gives way, one can expect a full-blown test of the bottom of the trading range: 1245-1250.

The equity-only put-call ratios have remained on sell signals since turning bearish in early February. The broad market has risen since then, which has produced the unusual condition of these normally reliable indicators "fighting" the market. Typically, they are either correct, or they will swing over and fall in line with the market after a short time. But now, these sell signals are persistent. About the only positive thing that can be said about these ratios at the current time is that the weighted ratio is getting pretty high on its chart (Figure 3), and that's an extreme situation -- "oversold" in the traditional sense.

Market breadth has been schizophrenic -- falling dramatically when the market drops and rising wildly when the market rises. It's as if each day, the big institutional players come into work and then all do the same thing -- whether it be buy or sell. This causes a preponderance of advancing or declining issues, but since these institutional traders buy one day and sell the next, there is little or no continuity.

Finally, volatility indices ($VIX and $VXO) are rather subdued, with $VIX hanging around the 12 level. That's generally bullish, as this indicator is only bearish if $VIX is rising.

In summary, the market finds itself trapped in a tight range -- with $SPX between roughly 1275 and 1295. The next breakout of that range should produce some follow-through, although there have already been several false breakouts this year. Meanwhile, the length of time since this market last had a correction of 9% or more is now 1,113 days -- the second longest "drought" on record.

Jeff Bailey : 3/3/2006 11:09:58 AM

Baidu.com (BIDU) $54.58 +3.76% ... after kiss of WEEKLY Pivot.

Jeff Bailey : 3/3/2006 11:05:39 AM

Yahoo! (YHOO) $31.78 +0.25% ...

Jeff Bailey : 3/3/2006 11:04:22 AM

Google (GOOG) $384.15 +2.04% ... still either side of WEEKLY R1. Volume has come to a crawl.

Jeff Bailey : 3/3/2006 11:02:36 AM

Baidu.com (BIDU) $54.34 +3.30% ... sudden picup in volume as stock moves to intra-day high. This looks rather aggressive.

Jeff Bailey : 3/3/2006 10:55:37 AM

Sell Program Premium ... DIA $110.05, SPY $128.89, QQQQ $41.52

Jeff Bailey : 3/3/2006 10:48:37 AM

Google (GOOG) $384.08 +2.02% Link ... AP recap of yesterday's analyst meeting at this Link

Jeff Bailey : 3/3/2006 10:40:02 AM

Merrill Lynch raised its view on the investment bank/brokers, boosting their Q1 earnings forecast by an average 5%. Merrill cited strength in underwriting volumes, mergers and acquisitions "firing on all cylinders" and robust market conditions.

Jeff Bailey : 3/3/2006 10:24:50 AM

Current OPEN MM Profiles found at this Link

Jane Fox : 3/3/2006 10:19:03 AM

Dateline Bloomberg Growth in the U.S. services industry accelerated in February as consumer and corporate spending bolstered the largest part of the economy.

The Institute for Supply Management's index of non- manufacturing businesses including financial services, construction companies and retailers rose to 60.1 in February from 56.8 the month before. Readings above 50 indicate growth.

Service companies are reaping the benefits of stronger economic growth after consumer spending rose in January by the most in six months and equipment sales increased. More job gains and rising incomes may lead to the fastest economic growth in more than two years this quarter, economists said.

"The service side of the economy is doing wonderfully," Tim Rogers, chief economist at Briefing.com, a Boston research firm, said before the report. "The manufacturing side is lifted by business investment and the service side is lifted by consumer spending."

Jane Fox : 3/3/2006 10:12:59 AM

Dateline MSN MOney U.S. consumer sentiment finished weaker in February compared with January on worries about the economy, which could crimp future spending, a report showed on Friday.

The University of Michigan's final February index of consumer sentiment ended at 86.7, down from the preliminary February figure of 87.4 and January's final reading of 91.2, said sources who saw the subscription-only report.

Jane Fox : 3/3/2006 9:55:42 AM

Dateline WSJ The New York Stock Exchange is making a push to go back to its roots -- in bonds.

Bonds have changed hands on the exchange since 1792, when several brokers gathered to trade government war debt under a buttonwood tree on Wall Street. But over the past two decades, trading has dried up, in part because of red tape and many complexities associated with buying and selling debt on the exchange.

Now NYSE Chief Executive John Thain is preparing to start electronic trading of more than 4,000 bond issues on the NYSE, four times the number currently traded, as part of a broader effort to claim a larger stake of the $5 trillion corporate bond market.

Most of that trading now is handled by big investment banks, who deal directly with each other instead of using an exchange -- unlike the $16 trillion of publicly traded U.S. stocks, most of which trade on exchanges.

Jeff Bailey : 3/3/2006 9:50:09 AM

Program Trading Levels ... HL Camp & Company has their computers set for program buying at $+2.32 and set for selling at $+0.04

Jane Fox : 3/3/2006 9:30:06 AM

Dateline WSJ Intel Corp., one of the world's largest semiconductor makers, warned Friday that first-quarter revenue would miss estimates on weaker-than-expected demand and a "slight market segment share loss."

The Santa Clara, Calif., company pegged quarterly revenue at between $8.7 billion to $9.1 billion, compared with a prior range of $9.1 billion to $9.7 billion. Analysts surveyed by Thomson Financial forecast, on average, revenue of $9.42 billion.

Intel also said it expects gross margins to be squeezed by the lower revenue. Expenses also will be lower than forecast, however, due to lower revenue and profit-related spending.

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