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OI Technical Staff : 4/10/2006 9:59:59 PM

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Jeff Bailey : 4/10/2006 7:24:31 PM

ym06m ... 11,223 (+15) ... 5-minute interval chart with tomorrow's DAILY Pivot retracement, WEEKLY/MONTHLY Pivot retracement at this Link

Jeff Bailey : 4/10/2006 7:17:08 PM

ym06m pivot matrix for Tuesday at this Link

Jeff Bailey : 4/10/2006 7:13:12 PM

Current OPEN MM Profiles found at this Link

Today's Activity ... I did not profile any trades today.

Jeff Bailey : 4/10/2006 6:35:20 PM

Closing Internals found at this Link

Jeff Bailey : 4/10/2006 5:51:33 PM

Index Pivot Matrix for tomorrow at this Link

Jeff Bailey : 4/10/2006 5:25:29 PM

Closing U.S. Market Watch found at this Link

Monday's Pivot Matrix (Daily/Weekly) and how the various cash indices traded relative to the VIX and TRIN at this Link (extending Friday afternoon's homework)

Jeff Bailey : 4/10/2006 5:14:01 PM

Novartis (NVS) $56.73 -0.10% ... CIBA Vision is the eye care unit of Novartis.

NVS quiet at $56.75 in extended.

Jeff Bailey : 4/10/2006 5:12:09 PM

Alcon (ACL) $101.22 +2.84% ... marked higher at $102.75 (see BOL 05:05:39 PM post)

Jeff Bailey : 4/10/2006 5:07:15 PM

Baush & Lomb (BOL) (halted alert) $57.44 -0.39% ... Plunged to $52.12 in extended session (prior to trading halt 04:56:48 PM EDT) after FDA warns of eye infections with contact lenses. Company stopping its ReNu contact lens shipments.

Jeff Bailey : 4/10/2006 4:48:12 PM

Alcoa (AA) $32.83 +1.01% ... released for trade alert. $34.75

Jeff Bailey : 4/10/2006 4:45:16 PM

Alcoa (AA) (update) $32.83 +1.01% ... still halted. Resumption of trade has not yet been determined.

Jeff Bailey : 4/10/2006 4:36:31 PM

Alcan (AL) went out at $50.49 +1.93% ... ticking $51.50 extended.

Jeff Bailey : 4/10/2006 4:32:50 PM

ym06m 11,222

Jeff Bailey : 4/10/2006 4:31:39 PM

Alcoa (AA) alert $32.83 +1.01% ... Halted for trade. Reports net earnings of $608 million, or $0.69 per share. Earnings from continuing operations were $615 million, or $0.70 per share.

Average estimate according to Reuters was $0.52 per share.

Reuters Story Link

Jeff Bailey : 4/10/2006 4:12:18 PM

Buy Program Premium ... DIA $111.48, SPY $129.74

Jeff Bailey : 4/10/2006 4:03:30 PM

Russell 2000 Index (RUT.X) 752.94 -0.42% .. percentage loser of major index averages.

TRIN 0.90

TRINQ 1.55

NYSE Composite (NYA.X) 8,282.96 +0.14% ...

NASDAQ Composite (COMPX) 2,333.27 -0.24% ...

Jeff Bailey : 4/10/2006 3:59:17 PM

Jane's 02:27:07 MM post is an excellent example of why ES/ER futures traders need to understand what the indices they trade are comprise of, and that "black box" models based on VIX may need to be fine tuned constantly.

Jeff Bailey : 4/10/2006 3:42:18 PM

Hottrend's List of Most Abnormally Traded Stocks ... OLAB, ARTX, MNTA, MYOG, CPST, FLWS, VEGF, SOMX, INTL, PEIX, LPMA, SWSI, BIDU, ADBL and NWRE

Jane Fox : 4/10/2006 3:41:20 PM

The bulls tried their darnest to rally today but the bears were too strong. This is quite different from the days we have seen earlier.

Jeff Bailey : 4/10/2006 3:14:22 PM

03:00 Internals found at this Link

Jeff Bailey : 4/10/2006 3:03:21 PM

03:00 Market Watch found at this Link

Jane Fox : 4/10/2006 2:31:01 PM

The bearishness we are seeing today on the heels of the bearishness from Friday is making me wonder if we indeed have the seen yearly highs.

Jeff Bailey : 4/10/2006 2:26:48 PM

VIX 12.27

TRIN 0.89

VXN 16.59

TRINQ 1.46

Jane Fox : 4/10/2006 2:27:07 PM

Today has been an excellent example as to why I don't follow the TRIN. ES and VIX have traded tick for tick and the divergences I saw told me something. The TRIN, on the other hand, as been flatlined all day telling me nadda. Link

Jeff Bailey : 4/10/2006 2:25:39 PM

Benchmarking ... DIA $111.35, SPY 129.52, QQQQ $41.19, RUT.X 753.42

Jeff Bailey : 4/10/2006 2:21:48 PM

Apache Corp. (APA) $68.94 +2.86% ... DJ- April $65 Puts listed as "most active" put at CBOE.

Jane Fox : 4/10/2006 2:21:07 PM

Bears are gaining momentum here. Link

Jeff Bailey : 4/10/2006 2:21:42 PM

Bristol Myers Squibb (BMY) $24.17 -1.38% ... DJ - Jan07 $25 Calls listed as "most active" call at CBOE.

Jeff Bailey : 4/10/2006 2:16:08 PM

Lipman Electronic Engineering (LPMA) $29.70 +2.37% Link ... Announced today it had agreed to be acquired by VeriFone (PAY) $32.20 +9.04% Link

Following the acquisition, VeriFone will become the largest global provider of electronic payment solutions and services, capitalizing on accelerating growth in the emerging markets and demand for IP-based and wireless payment systems.

The deal calls for Lipman shareholders to receive 0.5 shares of PAY common stock and $14.304 in cash, adjusted for a special dividend. The amount of the special dividend has not been finally determined but will likely exceed $23 million.

Alternatively, LPMA shareholders may elect to receive either $29.07 in cash, or 0.9884 shares of PAY stock for each LPMA share, each adjusted for the special dividend.

Jeff Bailey : 4/10/2006 2:02:43 PM

Grainger WW Inc. (GWW) $73.69 -2.28% Link ... Downgraded at Morgan Keegan to "Market Perform" from "Outperform."

Morgan Keegan had upgraded the shares on December 10, 2004 at $61.10.

Jeff Bailey : 4/10/2006 1:58:46 PM

OI Newsletter Plays found at this Link

Jeff Bailey : 4/10/2006 1:50:35 PM

Callaway Golf (ELY) $17.27 +1.23% Link ... Business Wire- With a commanding display of power and control, Callaway Golf's Staff Professional Phil Mickelson yesterday turned back challenges from a parade of global all-star golfers and won his second Masters title, his second straight major championship and third major championship in three years.

Jane Fox : 4/10/2006 1:44:14 PM

TICKs -800

Jane Fox : 4/10/2006 1:41:10 PM

... but the bears have to be careful. ES is almost testing its daily lows but the VIX is not anywhere near its daily highs. This should be a huge red flag for short positions.

Jane Fox : 4/10/2006 1:39:37 PM

Well it looks like the bears are doing exactly what I thought they were not capable of, grabbing control from the bulls. AD line is -297 and AD volume is making new daily lows.

Jeff Bailey : 4/10/2006 1:33:26 PM

ym06m 11,200 ... probes MONTHLY Pivot.

TRIN 0.90

VIX 12.19

Jeff Bailey : 4/10/2006 1:31:55 PM

PetroChina (PTR) $111.18 +2.66% Link ...

Jeff Bailey : 4/10/2006 1:30:19 PM

Cnooc (CEO) $80.69 +2.22% ... best levels of the session. Sets up for test of WEEKLY R2 ($80.90).

Jeff Bailey : 4/10/2006 1:29:20 PM

General Motors Sees Auto Industry's Q1 Stronger Than Planned ... DJ- The automotive industry will be "a little bit stronger" in the first quarter than General Motors Corp. (GM) had previously forecast, Paul Ballew, GM's top sales analyst, said at a Morgan Stanley conference in New York on Monday.

He said he expects industry revenue to grow at a rate of about 5% in 2006.

Earlier in his presentation, Ballew said April sales at General Motors are "off to a decent start."

Jeff Bailey : 4/10/2006 1:19:43 PM

01:00 Internals found at this Link

Friday's Internals found at this Link

Jeff Bailey : 4/10/2006 1:02:42 PM

01:00 Market Watch found at this Link

Jeff Bailey : 4/10/2006 12:52:22 PM

Topps Co. (TOPP) $7.81 -12.35% Link ... Weak after the company posted a fourth-quarter loss due to weak sales of lolli pops and publishing products. The trading card company also faced numerous one-time charges which were substantially higher than expected.

"These one-time costs had a $3.1 million impact on the quarter," said Chief Financial Officer Cathy Jessup on Topps' fourth-quarter conference call. "In addition to one-time costs, two of our operations, specifically European sports and Whiz Kids, underperformed in the quarter, each missing our internal targets by approximately $2 million."

New York-based Topps makes confectionery items, such as Ring Pops, Push Pops and Bazooka bubble gum, and entertainment products, such as trading cards, sticker album collections and collectible games.

Jeff Bailey : 4/10/2006 12:49:16 PM

St. Jude Medical (STJ) $37.94 +2.48% Link ... DJ- Announced U.S. Food and Drug Administration regulatory approval and market launch of the Riata(R) ST lead, the world's thinnest implantable cardioverter defibrillator (ICD) lead. The thin size is designed to make navigation easier through difficult anatomy in cardiac patients, enabling physicians to more precisely place leads, which is critical for successful ICD therapy.

Jeff Bailey : 4/10/2006 12:45:37 PM

ym06m 11,213 ... slips back under WEEKLY Pivot.

TRIN 0.93

VIX 12.10

Jeff Bailey : 4/10/2006 12:39:02 PM

American Railcar (ARII) $32.87 -7.12% Link ... DJ- Its chairman and majority stockholder, financier Carl Icahn, helped the company meet weekly payroll after a storm damaged one of its major production plants.

Jeff Bailey : 4/10/2006 12:37:46 PM

Isis Pharma (ISIS) $7.94 -7.99% Link ... DJ- Announced a financing deal to develop its anti-cholesterol drug, potentially shelving a partnership with a large pharmaceutical company.

Jane Fox : 4/10/2006 12:37:14 PM

These would certainly keep me on the long side. Now if we see the bears grab control from the bulls today, which I don't believe will happen, we will have a continuation of the bearishness we witnessed on Friday. This is the kind of divergences from earlier this month I am looking for to tell me we have a made a yearly top. Link

Tab Gilles : 4/10/2006 12:30:35 PM

DJ US Oil & Gas Index ($DJUSEN) Weekl y.... Link PnF..... Link

Jeff Bailey : 4/10/2006 12:20:11 PM

Sport-Haley (SPOR) $5.44 +8.15% Link ... bidder at $5.35 for this thinly traded small-cap.

Jane Fox : 4/10/2006 12:15:01 PM

Dateline WSJ Former Enron CEO Jeffrey Skilling told jurors he is "absolutely innocent," as he took the witness stand in his fraud and conspiracy trial. He told jurors that he will fight the charges against him "until the day I die."

Jane Fox : 4/10/2006 12:14:35 PM

They're BAAACCKKKK Ticks +800

Tab Gilles : 4/10/2006 12:09:04 PM

USO Oil ETF finally trading today. USO $67.70 - $0.55

Crude $68.35 + $0.96

Murphy Oil (MUR) $51.68 +$1.23 Jan $45 Call Leaps (OBYAI) Bid $10/ Ask $10.30

Murphy came close to $50 Stop I set Friday. Link

Jeff Bailey : 4/10/2006 12:03:14 PM

Full House Resorts (AMEX:FLL) $3.15 (unch) Link ... To buy Stockman's Casino in Fallon, NV for $25.5 million.

Jeff Bailey : 4/10/2006 12:00:09 PM

Kinder Morgan Energy (KMP) $48.52 +0.70% ... Announced today that it has purchased various properties from Journey Acquisition - I, L.P. and Journey 2000, L.P., located primarily in the Permian Basin of West Texas. The oil and gas properties produce approximately 850 barrels of oil equivalent per day (BOE/D) net and include some fields with enhanced oil recovery development potential near KMP's CO2 operations. During the next several months, Kinder Morgan CO2 Company will perform technical evaluations to confirm the CO2 EOR potential and generate definitive plans to develop this potential if proven to be economic. While the purchase price plus the anticipated investment to further develop this CO2 EOR potential and a new CO2 supply pipeline is approximately $115 million, the total investment is likely to be considerably less since KMP intends to divest some of these acquired properties in the near future as they are not CO2 EOR candidates.

Jane Fox : 4/10/2006 11:40:08 AM

This is a very directionless market but the history has told me to be very careful of shorting because the bulls are only one program trade away.

Jeff Bailey : 4/10/2006 11:39:46 AM

10-year Yield ($TNX.X) down 0.4 bp at 4.959%

Jeff Bailey : 4/10/2006 11:38:33 AM

U.S. To Sell $8.0 Billion Reopened 10-year Indexed Notes on Wednesday DJ - The Treasury plans to raise all new cash Wednesday with the sale of $8.0 billion of reopened inflation-indexed 10-year notes.

The reopened 10-year inflation-indexed notes will be dated Jan. 15, 2006, and will settle April 17, 2006. They will mature Jan. 15, 2016. The notes are commonly known as Treasury inflation-protected securities, or TIPS.

The notes are a reopening of an issue first sold in January. The coupon is set at 2%.

Amounts bid by the Federal Reserve banks for their own account will be in addition to the public offering amount.

Noncompetitive tenders for the reopened notes, available in minimum denominations of $1,000, must be received by 12 p.m. EDT Wednesday.

Competitive tenders for the notes, available in minimum denominations of $1,000, must be received by 1 p.m. EDT Wednesday.

The CUSIP number for the notes is 912828ET3.

Jeff Bailey : 4/10/2006 11:33:30 AM

Peru Copper (TSE:PCR) $3.15 +8.99%

Jeff Bailey : 4/10/2006 11:32:37 AM

Peru's Stock Market, Currency Rally On Election Results DJ - Peru's financial markets rallied Monday on news that nationalist candidate Ollanta Humala didn't sweep to a first round victory and that his likely opponent in a second round will be former congresswoman Lourdes Flores.

"The sol is gaining. The market is taking the news well. There is caution, though, as the results aren't entirely clear," said one trader.

Government elections agency ONPE said Monday that with 67.3% of the votes counted from Sunday's vote for president, nationalist candidate Humala had gained 28.7% of the valid votes. The ONPE said that Flores had 25.79%, while former president Alan Garcia had 25.08%.

With that support, Humala is expected to pass into a second-round runoff vote, as no candidate gained a majority Sunday. The runoff will take place within 30 days of the release of official results. The ONPE has said it may take up to 20 days to come up with a final official tally.

Early Monday, the sol was trading at a midrate of 3.3050 to the U.S. dollar on a spread of PEN3.3000-PEN3.3100, according to an official at the Central Reserve Bank of Peru.

The sol ended Friday at a midrate of PEN3.3590 to the dollar on a spread of PEN3.3550-PEN3.3630.

"The sol is stronger because the scenario that banks were hoping for seems to be taking place," said another trader.

Meanwhile, stock market investors are also buoyant on the news.

In an early trade, the stock market's broad general index had risen 194.42 points, or 3.14%, to 6387.31, while the selective blue chip index rose 379.12 points, or 3.65%, to 10761.08.

Among others, copper miner Sociedad Minera Cerro Verde SAA (CVERDEC1.VL) had gained 15.1% to $5.56.

Jane Fox : 4/10/2006 11:31:19 AM


Jeff Bailey : 4/10/2006 11:17:42 AM

TRIN 0.80

VIX.X 12.14

Jeff Bailey : 4/10/2006 11:17:14 AM

ym06m 11,225 ... DAILY/WEEKLY Pivot here.

Jeff Bailey : 4/10/2006 11:02:34 AM

11:00 Market Watch found at this Link

Jeff Bailey : 4/10/2006 10:47:48 AM

CHIRAC TO REPLACE 'FIRST JOB CONTRACT' DJ- French President Jacques Chirac scraps a controversial labor-contract law aimed at boosting youth unemployment, in a major about-face following weeks of strikes and mass protests by students and workers.

Jeff Bailey : 4/10/2006 10:37:48 AM

ARRIS and UTStarcom Announce Agreements to Jointly Develop and Market Fixed Mobile Convergence (FMC) Solutions ARRIS Press Release Link

ARRS $13.35 -0.52% Link

UTStarcom (UTSI) $6.96 +0.57% Link

Jane Fox : 4/10/2006 10:34:51 AM

VIX does not confirm ES's new daily low. Link

Jeff Bailey : 4/10/2006 10:28:53 AM

VIX / TRIN / ym06m chart 5-minute intervals at this Link ... WEEKLY/MONTHLY Pivot retracement. DAILY Pivot levels are same as WEEKLY today as Friday's trade also marked week's Highs/Lows

Jane Fox : 4/10/2006 10:17:55 AM

Silver just made another new all time high. Will this market ever correct?

Jane Fox : 4/10/2006 10:16:33 AM

May Crude Oil futures are trading at 68.18 and the new ETF USO is trading at 68.16.

Jeff Bailey : 4/10/2006 10:16:26 AM

Murphy Oil (MUR) $52.00 +3% Link ... "X gets the square."

Jeff Bailey : 4/10/2006 10:15:19 AM

Express Scripts (ESRX) $83.17 -2.59% Link ... Downgraded to "underweight" from "equal-weight" at Morgan Stanley.

Jeff Bailey : 4/10/2006 10:10:35 AM

BOEING, US END CHARGES OVER SALE OF CHIPS DJ- Boeing agrees to pay $15 million to settle U.S. allegations that it broke the law by selling commercial airplanes equipped with a small chip that has military applications. It is among the largest ever fines for violations of the Arms Control Export Act.

Boeing (BA) $80.30 +0.91% Link

Jeff Bailey : 4/10/2006 10:09:12 AM

ALCOA ANNOUNCES THIRD FLAT-ROLLED VENTURE IN CHINA DJ- Alcoa, the world's largest aluminum company, expands further into China, this time with a $95 million joint venture near Shanghai to make aluminum brazing sheet.

Alcoa (AA) $32.78 +0.86% Link

Jane Fox : 4/10/2006 10:08:20 AM

Even though the AD line is only +74 the AD volume is telling you it is not wise to be short here. Not sure it would be wise to be long but definitely not wise to be short. Link

Jeff Bailey : 4/10/2006 10:07:39 AM

BANKS' REAL-ESTATE RISKS CAUTIONED DJ- Federal Reserve Gov. Susan Bies says banks need to be vigilant about managing commercial real-estate risks. She adds non-traditional mortgages require greater consumer education.

Jeff Bailey : 4/10/2006 10:06:01 AM

SEC INVESTIGATES ZALE'S ACCOUNTING DJ- Jewelry retailer says subpoenas have been issued relating to accounting for extended service agreements, leases and accrued payroll, as well as for executive compensation, severance, earnings outlooks and stock trading.

Zale Corp. (ZLC) $25.62 -7.84% Link

Jeff Bailey : 4/10/2006 10:03:09 AM

10:00 Market Watch found at this Link

Jeff Bailey : 4/10/2006 9:49:02 AM

OI Newsletter Plays found at this Link

Picked Price/Targets/Stops/Notes at this Link

Jane Fox : 4/10/2006 9:43:34 AM

VIX is above its previous day range but ES is still within its PDR. TRIN is below its PDR at 0.79 so a mixed bag here as well.

Jane Fox : 4/10/2006 9:41:16 AM

AD line is neutral at +147 and AD volume is above 0 but flat. No one has the reins this morning.

Jane Fox : 4/10/2006 9:20:38 AM

Dateline Financial Times: The five-year commodity price boom that has catapulted metal, energy and some agricultural prices to record highs is set to extend further, driven by global economic growth, tight supply and rising inflows of investment, according to investors, mining groups and sector analysts.

Jeff Bailey : 4/10/2006 9:20:24 AM

Program Trading Levels ... HL Camp & Company has their computers set for program buying at $+8.82 and set for program selling at $+6.34.

Fair Value for the S&P 500 today is $7.58.

Jane Fox : 4/10/2006 9:18:55 AM

Dateline WSJ The Bush administration, while publicly advocating diplomacy in order to stop Iran from pursuing a nuclear weapon, has increased clandestine activities inside Iran and intensified planning for a possible major air attack, the New Yorker reports. Current and former American military and intelligence officials tell the magazine that Air Force planning groups are drawing up lists of targets, and teams of American combat troops have been ordered into Iran, under cover, to collect targeting data and to establish contact with antigovernment ethnic-minority groups. The officials say President Bush is determined to deny the Iranian regime the opportunity to begin a pilot program, planned for this spring, to enrich uranium. American and European intelligence agencies, and the International Atomic Energy Agency, agree that Iran is intent on developing the capability to produce nuclear weapons. But there are widely differing estimates of how long that will take, and whether diplomacy, sanctions or military action is the best way to prevent it, the magazine notes. Iran insists that its research is for peaceful use only, in keeping with the Nuclear Non-Proliferation Treaty, and that it will not be delayed or deterred.

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