Option Investor
Printer friendly version
Jeff Bailey : 5/3/2006 1:30:43 AM

Gute SoBe! Link

Ooops ... Good Gravy!

Jeff Bailey : 5/3/2006 1:26:38 AM

Deutsche Bank (DB) $123.94 ... 1Q Net Profit EUR1.7B Vs EUR1.1B

Analysts Saw Deutsche Bank 1Q Net Profit EUR1.3B

1Q Pretax Profit EUR2.6B Vs EUR1.8B

1Q ROE 40% Vs 33% Year Ago

1Q Revenue EUR8B Vs EUR6.5B

DJ- Deutsche Bank AG (DB) said Wednesday its first-quarter profit before tax rose 46% to a record high, with its investment bank cashing in on favorable market conditions during the period.

The Frankfurt-based bank said pretax profit rose to EUR2.6 billion from EUR1.8 billion in the year-ago period. Net profit for the quarter jumped 55% to EUR1.7 billion, beating analyst estimates averaging EUR1.3 billion.

"Market conditions were favorable: The world's capital markets performed strongly; levels of corporate activity, above all in Europe, remained high," Chief Executive Josef Ackermann said in the earnings report.

Deutsche, Europe's 12th-largest bank by market capitalization, didn't immediately disclose an outlook statement.

The shares, which have risen 19% thus far this year, will resume trading at 0700 GMT from EUR97.23, where they closed Tuesday.

Revenue rose 21% to EUR8 billion, fueled by a sharp rise in sales and trading of products such as equity derivatives and emerging-market equities and prime services, or business conducted with hedge funds. Deutsche's flagship debt sales and trading operations hiked revenue 19%.

Revenue from advising on and underwriting both debt and equities rose, though it continued to be dwarfed by the sheer bulk of Deutsche's trading operations.

Deutsche's earnings report follows a similar pattern set by U.S. investment banks such as Goldman Sachs (GS) and European peer Credit Suisse Group (CSR), where equities trading soared.

Of Europe's three large investment banks, Deutsche is better positioned than UBS AG (UBS) and Credit Suisse to cash in on favorable markets because of its huge fixed-income operations, analysts say.

But unlike its Swiss peers, Deutsche lacks a substantial private-banking operation, a traditionally low-risk but high-profit generator for UBS and Credit Suisse, and hence an ideal cushion for more volatile investment-banking revenue.

Swiss bank UBS reports earnings for the quarter Thursday, while Credit Suisse posted a 36% hike in net profit Tuesday.

Deutsche posted gains during the quarter as opposed to losses in the year-ago period on investments it holds in other companies. Deutsche sold off the last of its stake in mortgage bank Eurohypo in the quarter and has been consistently lowering stakes in other companies in recent years.

Deutsche's return-on-equity, stripping out restructuring costs and sales of holdings, improved to 40% from 33%.

Deutsche also said its chief financial officer, Clemens Boersig, has been vetted by a local court to chair the bank's supervisory board, effective Thursday. A local court approval is needed because Boersig is replacing the former head of Deutsche's supervisory board, which is akin to a board of directors, in the middle of an unfinished term.

Deutsche recently named Anthony Di Iorio to replace Boersig as CFO. The bank also split off a risk role from the CFO position at the same time, naming Hugo Baenziger to the post.

Jeff Bailey : 5/3/2006 1:01:31 AM

YM with tomorrow's updated DAILY Pivot Retracement at this Link

The ability to settle 11,454 should not be taken lightly be bears. It shows some conviction among buyers.

Jeff Bailey : 5/3/2006 12:54:25 AM

I smell 11,481 tomorrow.

Jeff Bailey : 5/3/2006 12:49:33 AM

YM 10-minute interval chart of how it traded Tuesday at this Link ... Let's not would'a-could'a-should'a. I did stop at 11,410 and no regrets there.

I do regret I didn't profile a long at 11,391 and WEEKLY Pivot. Thought I could post the 10:00 stuff, and get something a little closer to 11,373 with a target back to DAILY R1. Take some technical notes of how influential the WEEKLY (blue) pivot retracment is.

Jeff Bailey : 5/3/2006 12:37:16 AM

Earlier I mentioned I will also be watching the Capacity figures closely. Here's that portion of the report and table from last week at this Link

The Weekly Gross Inputs into Refineries is somewhat of a demand measure for crude oil itself.

Operable Capacity ... this number doesn't change all that often. This is any additional (green) capacity that may come when a refinery adds onto facilities. Remember, the U.S. hasn't built a new refinery in over 20-years, or something like that. For week ended 03/03/06 we lost 1,000 barrels of operable capacity, probably due to repair, or fire. On 03/31/06 we added 207,000 barrels of capacity, probably a new addition to facilities.

And the most dynamic number for a refiner trader and refined products trader is the Percent Utilization (how much of the 17,335,000 barrels per day of capacity is being utilized?).

Then I simply measure the Change in Percent Utilization of Operable Capacity.

While I was browsing Tuesday's Futures Monitor for any information on EIA inventory estimates, I read some very bold predictions for oil. I would suggest oil traders also observe the Gross Inputs in relation to current and past (say pre-Katrina/Rita) levels and Weekly Percent Utilization figures.

Jeff Bailey : 5/3/2006 12:20:51 AM

EIA Crude Oil, Gasoline, Distillate Intentory Preview table at this Link ... 1, 2, 3 and Year Ago assuming no net change from week ended 04/21/06 figures.

How things looked after last week's report at this Link

Jeff Bailey : 5/2/2006 11:16:09 PM

Here they come (Class Action Lawsuits) ... VTSS (3rd one since the close) ... Paskowitz & Associates Link

I (Jeff Bailey) would caution against any longs.

Shorts/put holders should factor in the potential for an extended trading halt.

OI Technical Staff : 5/2/2006 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 : 5/2/2006 9:53:14 PM

Index Pivot Matrix for tomorrow at this Link ... Beautiful, and I mean beautiful tie with the VIX and SPX Tuesday. Check it out Jane!

NDX/QQQQ/NQ have been "nowhere" and look to be coiling. SOX holds the key.

Jeff Bailey : 5/2/2006 9:11:16 PM

Some additional things refiner traders might keep an eye on (hopefully you're doing this each day). I know you are if you're long oil and short unleaded/heating oil in a pairs trade. PS: Don't tell anyone you trade crack for a living!

Per U.S. Market Watch, I currently have June Crude +4.05% for 5-days. June Unleaded up a more modest +2.34%. This narrows the crack spread for 5-days.

Now ... watch that 20-day Net%. It's been narrowing too hasn't it?

When does it turn negative?

I've got June Crude up +9.01% last 20-days. June Unleaded up +10.65%.

So.... a REFINER BEAR would like to see roughly 10.65%-9.01%= 1.64% spread still taken out for a May expire.

Jeff Bailey : 5/2/2006 9:01:28 PM

Sunoco (SUN) 30-minute interval chart at this Link ... with some May $65 NAKED CALL comments.

Jeff Bailey : 5/2/2006 8:44:16 PM

Now I'll do same thing with the SUN chart.

Jeff Bailey : 5/2/2006 8:41:47 PM

Valero (VLO) 30-minute interval chart at this Link

That YELLOW zone is a SUN NAKED CALL TRADER'S focus. Right? Right.

Jeff Bailey : 5/2/2006 7:58:39 PM

I'll get a VLO chart up in a minute. Bugger can be a good trader on EIA data.

Jeff Bailey : 5/2/2006 7:53:48 PM

Stock Matrix per my MM Profiles at this Link ... Wednesday mornings are busy for me as I deal with the EIA inventory data, so here we go.

UTSI not all that major as it is a LEAPs play. After you review today's WEEKLY/MONTHLY Pivot retracement chart, a break above DAILY R2 could be meaningful with that WEEKLY/MONTHLY overlap of $7.10. Day trader might get a "quick 6c" on move above WEEKLY Pivot and Daily R1.

SUN ... these refiners can be VOLATILE on a Wednesday morning. Don't get "juked" with 1,000 share day trade long/short. I'll try and update the Capacity numbers as quick as I can at 10:30 AM EST release.

HD ... $40.72 correlation. See what I'm trying to do here? Highlighting some correlations. What do you think a MARKET "bullish/bearish" reaction to EIA report might set up? Get those al_rts set on your trade software. I'll set mine to and issue if they are hit.

ICE can be "psychological" regarding energy prices, but it is also about TRADE REVENUE from all those energy futures traders. Bolivia might be the bullish twist here.

Jeff Bailey : 5/2/2006 7:36:04 PM

Current OPEN MM Profiles that I've made at this Link

Today's Activity ... Just prior to the cash open we were stopped on the YM swing trade short at 11,410 (+10 pts, or $+50/contract)

At 10:37:42 I posted an HD option montage per last night's "Trade of the Day" from CNBC. Those that have been with us a couple of weeks will remember similar note on the IWM excessive PUT action, then IWM fell notable a couple days later after some strength. So... Swing trade long two (2) of those HD June $40 Calls (HD-FH) at the offer of $1.60. I've got a stop at $0.70. Targeting $3.20 or a spike higher. Also showed HD chart today at 02:43:58.

Swing traded long what is actually a 2/3 position in the underlying shares of Intercontinental Exhcange (ICE) at the offer of $66.76, targeting $75.00 (maybe another buy/run/write for the 100 shares). Current chart posted 03:31:18 with additional review of past trades profiled and suggested prior to my vacation.

Also getting caught up with updated charts of UTSI 03:50:46 and SUN 02:55:52.

Jeff Bailey : 5/2/2006 6:52:06 PM

Closing Internals found at this Link

Jeff Bailey : 5/2/2006 6:28:42 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 5/2/2006 6:08:34 PM

Cramer ... I was thinking the same darned thing!

Can't sell your house? Fix it up!

HD $40.20 -0.83% ... maybe Cramer was buying those June $40 Calls and selling those June $40 Puts yesterday?

Jeff Bailey : 5/2/2006 6:02:31 PM

VTSS ... Level II (Inet) ... this is very computerized and same trader/computer. Note the 4c increments. Link

Jeff Bailey : 5/2/2006 5:46:39 PM

Vitess Semiconductor (VTSS) $1.89 -2.07% ... $1.85 extended

Class Action Securities Fraud Suit Link

Jeff Bailey : 5/2/2006 5:43:23 PM

Somebody's leaning on VTSS in extended.

Jeff Bailey : 5/2/2006 5:23:59 PM

What I want to know is who is/was Maria Bartiromo's "source" regarding the MARKET thinking 1 and done from Dr. Bernanke's testimony last week.

Jeff Bailey : 5/2/2006 4:50:11 PM

Good gravy! GOOG traded $450 while I was on vacation? Decent looking long on this pullback. Updating its matrix.

Jane Fox : 5/2/2006 4:22:22 PM

Tomorrow we have
10a.m. March Factory Orders. Consensus: +3.5%. Previous: +0.2%.
10a.m. April ISM Non-Mfg Business Index. Consensus: 59. Previous: 60.5.

Jeff Bailey : 5/2/2006 4:06:39 PM

RUT.X 767.46 +0.83% ... BIG session for those mighty small caps. 10:55:12 benchmark was RUT.X 761.45 for those inclined to trade their convictions.

Jeff Bailey : 5/2/2006 4:00:56 PM

Chesapeake Energy (CHK) $33.47 +4.36% ... oh my!

Domestication has its privileges!"

Jeff Bailey : 5/2/2006 3:50:46 PM

UTStarcom (UTSI) $6.96 +2.20% ... 30-minute interval chart (for LEAPs?) found at this Link

Jane Fox : 5/2/2006 3:42:46 PM

I wouldn't be short here. Link

Jeff Bailey : 5/2/2006 3:31:18 PM

ICE $68.48 +2.27% ... current 30-minute interval chart at this Link

That was "then" 04/11/06 and trades remembered at this Link

Jane Fox : 5/2/2006 3:23:13 PM

Egads Gold is now up to 671.30. I know everyone thinks this market needs a correction but I have been thinking that since early April and it just keeps going. I am long GLD and I think I will hold until I see some solid evidence it has finished this crazyness.

Jeff Bailey : 5/2/2006 3:16:22 PM

03:00 Internals found at this Link

Jeff Bailey : 5/2/2006 3:06:43 PM

03:00 Market Watch found at this Link

Jeff Bailey : 5/2/2006 3:03:21 PM

Atheros (ATHR) $25.71 +8.16% ... something in the VZ earnings?

WEEKLY Pivot just ahead at $25.93

Bugger found buyers at WEEKLY S1 $23.69 late yesterday.

Jane Fox : 5/2/2006 2:54:45 PM

Dateline WSJ The Big Three U.S. auto makers reported declines in April sales, as consumers shifted from SUVs and trucks to more fuel-efficient cars and hybrid vehicles amid rising gasoline prices. Toyota gained, however.

Jeff Bailey : 5/2/2006 2:55:52 PM

Sunoco (SUN) 30-minute interval chart Link

I think last week's "negative reaction" was to the slight up-tick in Capacity Utilization from EIA data.

Jeff Bailey : 5/2/2006 2:43:58 PM

Home Depot (HD) $40.26 -0.69% ... session low. Here's a 30-minute interval chart with WEEKLY/MONTHLY Pivot retracement at this Link

Jeff Bailey : 5/2/2006 2:41:10 PM

SOX 512.67 +0.12% ... WEEKLY Pivot still serving up resistance today.

Jeff Bailey : 5/2/2006 2:39:20 PM

Vitesse Semiconductor (VTSS) $1.91 -1.03% ... softening up at Daily Pivot ($1.90)

Jeff Bailey : 5/2/2006 2:30:38 PM

Stock Pivot Matrix for UTSI-VLO at this Link

Jeff Bailey : 5/2/2006 2:25:45 PM

PetroChina (PTR) $115.65 +2.48% ... gets the trade at WEEKLY R1

Jeff Bailey : 5/2/2006 2:09:30 PM

ICE $67.64 +1.01% ... recaptures WEEKLY S1.

Jeff Bailey : 5/2/2006 1:55:26 PM

Not much harm with SPX +7.19 points and creeping higher all session.

Jeff Bailey : 5/2/2006 1:54:44 PM

Correction to my 09:23:58 Post (alert) ... HL Camp & Company has their computers set for program buying at $+5.92.

I type $+4.92

Jane Fox : 5/2/2006 1:52:19 PM

YM tags its previous day high and the only market to do so so far.

Jane Fox : 5/2/2006 1:49:37 PM

As long as the top blue line is heading upwards don't try shorting. Link

Jeff Bailey : 5/2/2006 1:29:47 PM

Sunoco (SUN) $83.91 +1.21% ... after test of WEEKLY Pivot.

EIA weekly inventory data tomorrow.

Jeff Bailey : 5/2/2006 1:28:50 PM

June Unleaded (hu06m) $2.18 +1.39% ... up 3 cents now and session highs.

Jeff Bailey : 5/2/2006 1:22:57 PM

01:00 Internals found at this Link

Jeff Bailey : 5/2/2006 1:10:07 PM

Wasn't it Feb 23, that we covered that ICE put after earnings? Check out your 60-minute interval charts.

Jane Fox : 5/2/2006 1:09:32 PM

And the TICKS just keep on a TICKing +800

Jeff Bailey : 5/2/2006 1:08:32 PM

Bullish swing trade long 1/2 position, or 100 shares for the risk managed MM Profiles, in shares of Intercontinental Exchange (ICE) $66.76 -0.29% here. Stop below WEEKLY S2 (63.75), target $75.00.

Disclosure: I currently hold bullish position in ICE.

Jeff Bailey : 5/2/2006 1:05:34 PM

01:00 Market Watch found at this Link

Jeff Bailey : 5/2/2006 12:59:52 PM


DJ- The renationalization of Bolivia's oil and gas industry has potentially chilling effects for firms operating there and could result in a hangover for investors, says Bill Ramsay, deputy executive director of the International Energy Agency.

Jeff Bailey : 5/2/2006 12:52:42 PM


DJ- Energy-futures exchange says net income more than doubles to $19.7 million, or 33c a share, a nickel above analysts' expectations. Revenue increases 58% to $50.3 million as average daily volume surges 82%.

ICE $66.47 -0.73% Link

Jeff Bailey : 5/2/2006 12:51:12 PM

Conagra (CAG) $23.15 +1.89% Link

Jeff Bailey : 5/2/2006 12:50:26 PM

ADM NET JUMPS 29% ON ETHANOL DEMAND DJ- Archer-Daniels-Midland posts net of $347.8 million, or 53c a share, as sales increase 8% to $9.12 billion. Analysts forecasted EPS of 46c. ADM expects ethanol prices to rise in the next two quarters.

ADM $41.69 +9.65% Link

Jeff Bailey : 5/2/2006 12:47:06 PM


DJ- E-commerce concern and owner of Home Shopping Network reports net income of $47.2 million, or 14c a share, while adjusted earnings jump to 31c. Analysts on average expected earnings of 27c. Revenue increases 36% to $1.55 billion.

IACI $29.00 -0.06% Link

Jeff Bailey : 5/2/2006 12:45:18 PM

PENDING US HOME SALES INDEX EASES DJ- National Association of Realtors says its index for pending sales of previously owned homes dropped 1.2% in March versus February -- and was 6% below March 2005. Index falls as mortgage rates rise.

Jeff Bailey : 5/2/2006 12:43:33 PM


DJ- Telecommunications giant reports 1Q net income of $1.63 billion, or 56c a share, as EPS excluding items comes in at 60c. Revenue increases 25% to $22.74 billion amid MCI acquisition. Analysts projected earnings of 59c on revenue of $22.8 billion. CEO says he remains interested in buying Vodafone's 45% stake in Verizon Wireless, which adds a better-than-expected 1.7 million subscribers.

VZ $33.01 +0.67% Link

Jane Fox : 5/2/2006 12:35:44 PM

TICKS +800

Jeff Bailey : 5/2/2006 12:23:14 PM

OI Newsletter Plays (update) found at this Link ... I haven't been able to uncover what specific news, if any, is impacting RACK.

Jeff Bailey : 5/2/2006 12:17:45 PM

Current OPEN MM Profiles found at this Link

Jane Fox : 5/2/2006 12:16:01 PM

Ford Motor posts 6.6% drop in U.S. vehicle sales for April.

Jane Fox : 5/2/2006 12:11:11 PM

Little doubt the bulls still have the reins. Link

Jeff Bailey : 5/2/2006 11:56:14 AM

Dollar Index / YM Chart Montage (all sessions/5-minute interval) at this Link

There is some "what is the Fed going to do" built in to how the dollar trades. The YM (full of the biggest US multi-nationals) can be sensitive to dollar strength/weakness. Not JUST what the Fed is doing, or going to be doing with fed funds.

Jeff Bailey : 5/2/2006 11:42:30 AM

I will confess ... Yesterday's swing trade short that I profiled in the YM was set up by "Trader Rick's" question on Friday.

The Dollar Index (dx00y) has this habit, of reaching an inflection point high/low after a big move, within the first couple of days of a new month. Not ALWAYS, but often.

When I went to bed last night, YM was sitting 11,380. Was darned close to issuing a "close out," but it was late at night.

Dollar Index was haning out at its WEEKLY 61.8% retracement of 86.19.

Jeff Bailey : 5/2/2006 11:37:04 AM

DJUSHB 787.77 -2.37% ... still don't think dollar/homebuilders is related. COINCIDENCE.

Jeff Bailey : 5/2/2006 11:35:25 AM

Dollar Index probes DAILY S1 , DIA probes daily R1.

Taking some notes for Rick.

Tab Gilles : 5/2/2006 11:34:45 AM

Murphy Oil (MUR) P/S ratio low. Link Link

Jane Fox : 5/2/2006 11:31:28 AM

TICKS +800

Jane Fox : 5/2/2006 11:25:28 AM

Gold to new 25 year highs here at 668.70. Amazing!

Jeff Bailey : 5/2/2006 11:14:57 AM

Valero (VLO) $65.84 -0.16% ...

Jeff Bailey : 5/2/2006 11:14:18 AM

Sunoco (SUN) $82.43 -0.56% ... slips below its WEEKLY Pivot. MONTHLY Pivot lower at $81.79.

Jeff Bailey : 5/2/2006 11:13:03 AM

11:00 Internals found at this Link

Yesterday's Internals found at this Link

Jeff Bailey : 5/2/2006 11:02:42 AM

11:00 Market Watch found at this Link

Jane Fox : 5/2/2006 10:55:12 AM

These would keep me on the long side if I was inclined to trade. Link

Jeff Bailey : 5/2/2006 10:55:29 AM

Bullish long call option alert ... for two (2) of the Home Depot Link HD June $40 Calls (HD-FH) at $1.60.

HD $40.45 -0.22%

Jeff Bailey : 5/2/2006 10:43:25 AM

Home Depot (HD) $40.42 -0.29% ... yesterday's option action in HD does look like some firmly bullish bets were made at the $40.00 strike. This week's WEEKLY Pivot is $40.03. Early action has HD sitting on its WEEKLY 38.2% retracement of $40.30.

Jeff Bailey : 5/2/2006 10:39:30 AM

Biotechnology Index (BTK.X) 662.87 -1.54% ... defensive ... back below 200-day SMA.

Jeff Bailey : 5/2/2006 10:37:42 AM

Yesterday's Options "Trade of the Day" at this Link

Jane Fox : 5/2/2006 10:34:13 AM

Gold is exploding again and to new 25 year highs at 667.70.

Jeff Bailey : 5/2/2006 10:31:42 AM

It's a dinger too.

Jeff Bailey : 5/2/2006 10:30:31 AM

Buy Program Premium within last 5-minutes ... SPX 1,310.69

Jane Fox : 5/2/2006 10:27:26 AM

TICK +1000 They're baccckkk

Jane Fox : 5/2/2006 10:21:19 AM

VIX makes a double top but does not make a new daily high to confirm ES's new daily lows so it may be a head fake. The best trade right now is no trade and like Keene is saying over on the futures side "I wouldn't be in a hurry to trade."

Jane Fox : 5/2/2006 10:19:48 AM

The bears are gaining momo with the AD volume falling, TRIN and VIX rising. But never ever discount the bulls folks.

Jeff Bailey : 5/2/2006 10:10:54 AM

Sirius Satellite Radio (SIRI) $4.93 +6.70% ... Reports earnings, ups subscriber forecast.

Reuters Story Link

Jeff Bailey : 5/2/2006 10:09:38 AM

OI Newsletter Plays found at this Link

Jane Fox : 5/2/2006 10:06:13 AM

In John Maudlin's "Outside the Box" last night he talked about the current low volatility in the markets. Here is a quote. "The current state of volatility is an indicator of a potentially sharp stock market decline based upon (i) the currently low level of volatility, (ii) the tendency for upward spikes to follow extreme low volatility, (iii) the relationship of market direction to volatility trends, and (iv) the propensity for downside volatility during secular bear markets. Volatility could decline further and could remain low for some time longer; however, based upon history, it has not stayed low without subsequently spiking and, as it goes lower, the likelihood of a spike increases significantly.

This article went on to explain how spikes in volatility in bull seculars differ from volatility spikes in bear seculars. This fits with Larry McMillan's thoughts in that not all higher volatility leads to lower markets because higher volatility in bull markets can lead to further gains but higher volatility in bear markets almost always lead to declines.

Jeff Bailey : 5/2/2006 10:04:55 AM

10:00 Market Watch found at this Link ... KBW Bank Index (BKX.X) data feed incorrect.

Jeff Bailey : 5/2/2006 10:00:56 AM

XM Satellite Radio (XMSR) $18.88 +0.90% ...

Jeff Bailey : 5/2/2006 10:00:25 AM

Sirius Satellite Radio (SIRI) $4.93 +6.70% ... atop this morning's most actives.

Jeff Bailey : 5/2/2006 9:51:04 AM

Current OPEN MM Profiles found at this Link ... Prior to cash open we were swing trade bearish stopped for the YM at 11,410 (+10 pts, or $50/contract)

Jane Fox : 5/2/2006 9:47:13 AM

I would not be short here - AD volume is making new daily highs.

Jane Fox : 5/2/2006 9:42:12 AM

TRIN is below its previous day range but the VIX opens mid range to its PDR so we have a bullish TRIN and a neutral VIX.

Jane Fox : 5/2/2006 9:40:12 AM

AD line is +572 and AD volume is above 0 and rising so the bulls have the reins but be careful I have seen the bears getting a lot stronger lately and this could change in a NY minute.

Jeff Bailey : 5/2/2006 9:23:58 AM

Program Trading Levels for Tuesday ... HL Camp & Company has their computers set for program buying at $+4.92 and set for program selling at $+3.64.

Fair Value for the S&P 500 today is $4.83.

Jeff Bailey : 5/2/2006 9:21:32 AM

YM short stopped alert here at 11,410

Jane Fox : 5/2/2006 9:12:55 AM

The data highlight of the day will be the release of monthly auto sales figures, with General Motors expected to lead an industry decline. Analysts polled by Thomson First Call forecast the overall sales rate, known as the SAAR, to come in at 16.6 million vehicles -- down from 17.2 million a year ago, but up fractionally from March.

Market Monitor Archives