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OI Technical Staff : 3/7/2006 9:59:59 PM

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Jeff Bailey : 3/7/2006 6:37:15 PM

Current OPEN MM Profiles found at this Link

Today's Activity ... We were stopped out of the Google (GOOG) long at $364.00.

The GOOG Mar $410 Calls (GOP-CB) are once again naked and we have a good til cancel (GTC) order to buy them back at $0.10.

Swing trade put PetroChina with the PTR April $90 Put (PTR-PR) at the offer of $2.00. Please read today's various observations (June unleaded, June Crude Oil, OPEC, EIA) to understand NOT TO LOAD UP on these puts, but if it breaks, there's a lot of air under there.

Jeff Bailey : 3/7/2006 6:21:59 PM

GOOG 5-minute interval chart with extended session turned on at this Link ... Note how spike low has 5-minute bar finishing right in our "zone of support" from initial option montage work.

Computers may have gotten "turned on" with trade at WEEKLY S1.

Jeff Bailey : 3/7/2006 6:09:27 PM

Google (GOOG) March Options Montage found at this Link ... Stock traded $341.00 to the penny, then buyers gobbled up to $360.00.

Jeff Bailey : 3/7/2006 5:46:22 PM

GOOG ... this management team had better get its act together. Making some mistakes that it shouldn't be making. A lot of stocks institutions could own with "stable management."

Jeff Bailey : 3/7/2006 5:41:36 PM

GOOG $354 extended ... low has been $341.00

Jeff Bailey : 3/7/2006 5:40:09 PM

GOOG $352.00 extended ... DAILY Pivot Levels for tomorrow ... $353.38, $358.92, Piv = $363.68, $369.22, 373.98.

Jeff Bailey : 3/7/2006 5:36:41 PM

GOOG $345.02 ... WEEKLY S1 alert

Jeff Bailey : 3/7/2006 5:35:57 PM

Google Form 8-k filing Link

Jeff Bailey : 3/7/2006 5:31:52 PM

Google (GOOG) alert $364.45 -0.99% ... slips lower to $357.48.

CNBC reporting further "mistaken" releases of information.

Jeff Bailey : 3/7/2006 5:26:42 PM

Closing Internals found at this Link

Updated PnF-style NYSE NH/NL Ratio Chart at this Link

VERY STRONG, but also VERY OVERBOUGHT and giving up some ground. Sign of PROFIT TAKING. That's it (for now).

Jeff Bailey : 3/7/2006 4:44:28 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 3/7/2006 4:34:09 PM

April Unleaded settled down 1.36% at $1.6334.

April Crude Oil settled down 1.33% at $61.58.

Closing relative strength of Unleaded vs. Crude Oil ... 26.52 with floor trade high/low 26.60/25.70

Not yet updated/chart of $GASO vs. $WTIC at this Link

Should end up with some red O back down to around 25.80.

Jeff Bailey : 3/7/2006 3:20:04 PM

Today's NYSE NH/NL ratio readings do play a role in deciding to play a put on PTR.

PTR was a stock brought to my attention by a fellow trader. He has been an EXCELLENT picker of stocks and by no way is this a "fade" trade.

The trader's prior question did show some uncertainty about being bullish the stock.

Time will tell and the stock is still in a range.

Jeff Bailey : 3/7/2006 3:17:21 PM

03:00 Internals found at this Link

Jeff Bailey : 3/7/2006 3:03:31 PM

03:00 Market Watch found at this Link

Jeff Bailey : 3/7/2006 2:47:08 PM

Filled at the offer of $2.00, PTR $95.35 -2.00%

Jeff Bailey : 3/7/2006 2:45:06 PM

Swing trade put place order alert... Let's quick messing around and get this done.

Go long one (1) of the PetroChina PTR April $90 Puts (PTR-PR) at the offer of $2.00.

Jeff Bailey : 3/7/2006 2:39:17 PM

PetroChina (PTR) $95.37 -1.98% ... This has to be worth at least one put. Bar chart with retracement at this Link

Jeff Bailey : 3/7/2006 2:26:05 PM

June Crude Oil PnF chart from Dorsey/Wright at this Link ... This is a tough trade in here. My supply/demand charts hint that weakness would be sharp and fast, but we're at some important support levels.

Blue "O" is today's entry with session low of $63.60.

Jeff Bailey : 3/7/2006 1:55:34 PM

Swing trade put cancel order alert ... for the two (2) PTR April $90 Puts (PTR-PR) ... will take just one (1) with June Unleaded observation at this point.

Jeff Bailey : 3/7/2006 1:52:03 PM

Sunoco (SUN) $74.95 -0.38% Link ... "holding on" at WEEKLY S1.

Jeff Bailey : 3/7/2006 1:47:40 PM

June Unleaded PnF chart from Dorsey/Wright at this Link ... current session low comes back to apex of bullish triangle.

Jeff Bailey : 3/7/2006 1:30:10 PM

Oil Demand DJ - EIA reports US Q2 oil demand cut 90,000 b/d to 20.82M b/d

Global Q2 Oil demand cut 100,000 b/d to 83.7M b/d.

Global Q2 Oil demand seen -1.2M b/d vs. Q1.

US Q1 Oil usage revised -40,000 b/d to 20.63M b/d

US 2006 Oil demand growth revised up to 1.4% from 1.16%.

Global 2006 oil demand growth seen at +1.9%

Jeff Bailey : 3/7/2006 1:25:06 PM

DJ - Algeria's Oil Minister Worried By Rising Gasoline Stockpiles

Jeff Bailey : 3/7/2006 1:24:07 PM

DJ - Kuwait Oil Minister Confirms Panel to Advise OPEC Output Unchanged.

Jeff Bailey : 3/7/2006 1:21:12 PM

01:00 Internals found at this Link

Jeff Bailey : 3/7/2006 1:09:56 PM

DJ Source: OPEC Panel to Recommend Ministry Leave Output Unchanged.

Jeff Bailey : 3/7/2006 1:05:33 PM

01:00 Market Watch found at this Link

Jeff Bailey : 3/7/2006 12:59:29 PM

Current OPEN MM Profiles found at this Link ... Currently have an open order to buy back the GOOG Mar $410 Calls (GOP-CB) at $0.10. This is a GTC order.

Currently have an open order to buy to open two (2) of the PTR Apr $90 Puts (PTR-PR) for $1.65. This is a day order only.

We were stopped out of the underlying bullish GOOG trade at $364.00.

Jeff Bailey : 3/7/2006 12:40:58 PM

Swing trade put option alert let's place an order to buy two (2) of the PetroChina PTR April $90 Puts (PTR-PR) for $1.65.

PTR $95.69 -1.65% ... PTR-PR $1.65 x $1.90 (11 contracts traded today h/l $1.55/$1.44).

Jeff Bailey : 3/7/2006 12:21:54 PM

PTR Option Montage at this Link ... Not a lot of action, but what action there is, does look defensive.

Jeff Bailey : 3/7/2006 12:16:58 PM

PetroChina (PTR) alert (watch listed) $95.87 -1.46% ... Today's trade at $96.00 generates a double bottom sell signal and would negate prior bullish vertical count. Initial bearish vertical count has risk assessed to $91.00. Sector Bullish % still weak at "bear alert." Still in a $100-$95 range, but trade at $94 would be break of important support.

PnF chart/notes Link

OPEC meeting and EIA data tomorrow!

Jeff Bailey : 3/7/2006 11:40:17 AM

DJ- U.S.'s Rice Repeats Nuclear Enrichment In Iran Unacceptable

Russia's Lavrov: "No Compromise" With Iran

Jeff Bailey : 3/7/2006 11:18:08 AM

11:00 Internals found at this Link ... Notable lack of NH at the NYSE.

Jeff Bailey : 3/7/2006 11:05:06 AM

11:00 Market Watch found at this Link

Jeff Bailey : 3/7/2006 10:57:02 AM

DJ- Kuwait Min: OPEC Should Maintain Current Output For 06

DJ- Kuwait Oil Min Sees 500,000 B/D Oil Surplus In 3Q

DJ- Kuwait Min: Will Know More On Gas Opportunities By November

Jeff Bailey : 3/7/2006 10:49:25 AM

INTEL'S NEW CHIPS SEEN ON SCHEDULE ... DJ- Firm's next-generation chips should narrow the performance gap favoring products from AMD, if not reverse it, according to a briefing for analysts. Gathering is held ahead of today's Intel's Developers Conference for computer engineers. Intel shares drop 1.33% at $20.03.

Jeff Bailey : 3/7/2006 10:47:47 AM

US RETAIL SALES DOWN 2.5% IN MARCH DJ - U.S. chain store sales slip 2.5% in first week of March compared to February, below the targeted 2.3% decrease, according to Redbook Research. International Council of Shopping Centers sales index slips 0.2% in week to March 4.

Jeff Bailey : 3/7/2006 10:31:46 AM

Qualcomm (QCOM) $47.95 +1.50% Link ... QQQQ/NDX heavyweight higher after the company forecasts Q2 pro forma earnings of $0.40-$0.41 a share on revenue of between $1.75 billion and $1.82 billion, up from prior projection for profit of $0.35-$0.37 a share on revenue of between $1.63-$1.73 billion. The company also boosted quarterly dividend by 33%, to $0.12.

Jeff Bailey : 3/7/2006 10:26:42 AM

Krispy Kreme Doughnut (KKD) $7.34 +15.02% Link ... Sharply higher after the company said ex-Kraft executive Daryl Brewster has been named president and CEO. Turnaround specialist Cooper will remain with KKD during transition period.

Jeff Bailey : 3/7/2006 10:20:42 AM

Buy Program Premium was generated at 10:00 AM EST.

SPY $128.04 -0.10% ... $127.75

Jeff Bailey : 3/7/2006 10:13:48 AM

Current OPEN MM Profiles at this Link

Jeff Bailey : 3/7/2006 10:07:22 AM

10:05 Market Watch found at this Link

Jeff Bailey : 3/7/2006 9:54:55 AM

Swing trade naked call place order alert ... Let's place an order to buy back the GOOG Mar $410 Calls (GOP-CB) for $0.10.

GOOG $364.00 -1.11% ... GOP-CB $0.55 x $0.65 IV= 0.4312

Jeff Bailey : 3/7/2006 9:49:21 AM

DJ Correction - Iran enrichment ... Russia not urging end to small scale enrichment.

Jeff Bailey : 3/7/2006 9:43:46 AM

Google (GOOG) $365.11 -0.80% ... session low came at $363.17. If long underlying with a partial covered call, could make your stop on the underlying just below DAILY R1 (I contemplated adjusting stop back lower from $364 to $362 last night). A trade at $360 would be a double bottom sell signal and bearish.

Jane Fox : 3/7/2006 9:33:45 AM

VIX opens above its previous day high as ES tests its previous day low.

Jeff Bailey : 3/7/2006 9:33:35 AM

Google (GOOG) $364.00 -1.02% Link

Jane Fox : 3/7/2006 9:33:12 AM

AD line is -713 and AD volume is below the 0 line and falling. The bears have the reins.

Jeff Bailey : 3/7/2006 9:32:07 AM

Bullish swing trade stop alert ... for Google (GOOG) $363.50 -1.2%

Jeff Bailey : 3/7/2006 9:30:57 AM

Hang Seng ($HSI) closed down 280 points, or 1.76% at 15,602.36 Link

Jane Fox : 3/7/2006 9:27:12 AM

Dateline WSJ U.S. productivity fell at the end of 2005 due to a sharp slowdown in economic activity at the end of the year, though the decline was slightly less pronounced than previously estimated.

The Labor Department said Tuesday nonfarm business sector productivity decreased 0.5% during the fourth quarter of last year after rising 4.2% in the third quarter. The government originally estimated fourth quarter productivity at down 0.6%. The drop marked the weakest showing in productivity since the first quarter of 2001.

Jeff Bailey : 3/7/2006 9:26:27 AM

Google (GOOG) $368.10 ... ticks lower at $365.44. Company mistakenly posted its intensions to offer Web users infinite storage of computer files online.

Reuters- Google is preparing to offer Web users "infinite storage" of computer files online, according to internal documents mistakenly released on the Internet. A blogger discovered the information in notes accompanying a slide presentation for analysts that Google posted on its Web site. Rumors have swirled around the so-called GDrive online storage service, which reportedly could give users a mirror of their own hard drives. Google would not confirm the plans, and removed the notes from its site. "They were not intended for publication," said a Google spokeswoman.

Jeff Bailey : 3/7/2006 9:19:13 AM

Iran ready to suspend large-scale enrichment ... DJ- Iran is offering to suspend full-scale enrichment for up to two years, a diplomat said early Tuesday.

The diplomat told The Associated Press that the offer was made in the context of contacts between Iran and Russia on moving Tehran's enrichment program to Russia. But the dimplomat said the Iranians were not prepared to freeze small-scale enrichment, a key demand of Moscow, Washington and other nations.

Jeff Bailey : 3/7/2006 9:15:28 AM

Q4 Productivity down 0.5%, wages rose at 3.3% annual pace ... Both figures were slightly revised from original estimates a month ago which had productivity falling at a 0.6 percent rate and wage costs rising at a 3.5 percent rate in the fourth quarter.

AP report at this Link

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