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Jeff Bailey : 5/4/2006 1:52:10 AM

I'm off to bed. See you in the morning.

Jeff Bailey : 5/4/2006 1:51:24 AM

Another consideration: Reason to use 24-hour high/low for DAILY Pivot calculations is it may give foreign traders the ability to cast their vote (in form of price action) when U.S. cash markets are closed.

This is an open forum, and YOU (the subscriber) are welcome to voice your opinions. While I do trade my profiles with my money, it is also YOUR money.

Place "YM daily pivots" in the subject line of your e-mails and address to Jeff Bailey if you'd like.

Jeff Bailey : 5/4/2006 1:47:30 AM

YM comparison charts at this Link

Jeff Bailey : 5/4/2006 1:07:38 AM

Keene: Please DO NOT change how you are calculating the pivot levels in your matrix. It is not that often that "overnight" trade is so different than regular session.

Tomorrow, I'll keep an eye on two YM charts. One with Keene's/CBOT h/l/c and one with Jeff's/regular session h/l/c.

A one-day test to see if DJ futures seem to trade one any "better" than the other. So far this week, it has been the WEEKLY levels that have been influencial.

The same "rules" of pivot trading apply.

Maybe we don't trade size tomorrow (10, 20, 30 contracts)

Jeff Bailey : 5/4/2006 12:57:38 AM

CBOT's YM data for 05/03/06 at this Link

This is the data Keene has been using to derive daily pivot levels.

Jeff Bailey : 5/4/2006 12:55:52 AM

YM ... (Information)... 5-minute chart using regular session high/low/close (11,441/11,388/11,430) for DAILY Pivot Retracement at this Link ... Considerations: Since I do utilize TRIN and VIX measures with my trade guidance, I think I will suggest we use regular session trade for DAILY Pivot retracement.

I do believe STRONGLY in using ALL SESSIONS high/lows for WEEKLY and MONTHLY as it can measure the "extremes" for which their are willing buyers and sellers.

Addition considerations: DJ ($10 DJIA futures) and DD ($25 DJIA futures) do NOT trade an overnight session.

Jeff Bailey : 5/4/2006 12:55:08 AM

YM ... (Information)... 5-minute interval chart (all sessions) at this Link ... Even in extended session, I'd think "short" with target of 11,408.

And here may be an example of why I believe most traders calculate their pivot levels from a REGULAR SESSION (not overnight) highs/lows.

Keene likes to use the overnight session highs/lows/close (11,457/11,388/11,430). That is fine if it works for him.

Now I'm going to follow up with a different DAILY Pivot Retracement using high/low/close of 11,441/11,388/11,430

Jeff Bailey : 5/3/2006 11:31:08 PM

YM 11,424 ... point below DAILY Pivot .. chart coming.

Jeff Bailey : 5/3/2006 11:07:01 PM

YM 5-minute interval chart and today's recap at this Link ... Today's biggest lesson (again) ... KNOW what stocks, or sectors offer BIGGEST weighting for the index you're trading. There were 3 good reasons to be looking long this morning (see 10:52:35)

While we're here. Note where the YM's MONTHLY Pivot is at. The SPY traded MONTHLY Pivot. All 30 Dow components are members of the SPY/SPX. Yes, just 30 of the 500, but if the soldiers start a retreat, the generals may turn tail and run too. INTC and MSFT have been leading a retreat.

Jeff Bailey : 5/3/2006 10:42:10 PM

Index Pivot Matrix found at this Link

Note: SPY trades MONTHLY Pivot today.

OI Technical Staff : 5/3/2006 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 : 5/3/2006 6:40:29 PM

I've got to leave early for a meeting. I'll try and get the stock matrix and YM chart updated prior to tomorrow morning's cash open.

Jeff Bailey : 5/3/2006 6:39:41 PM

MM Profiles Stock Matrix for tomorrow at this Link

Jeff Bailey : 5/3/2006 6:13:50 PM

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

Today's Activity ... Day traded long the YM at 11,403 with initial stop at 11,397 and target of 11,475. Closed just after the cash session at 11,439 (+36 points, or $+180/contract).

Raised stop for ICE to $69.00

Lowered stop on the two (2) NAKED SUN May $85 Calls (SUN-EQ) and would close out if the underlying shares trade $85.50.

Intra-day I had noted that the crack spread for July Unleaded/Crude 20-day Net% had reversed. At tonight's trade, that is no longer true.

Jeff Bailey : 5/3/2006 5:46:44 PM

Closing Internals found at this Link

Jeff Bailey : 5/3/2006 4:45:11 PM

Microsoft (MSFT) $23.17 -3.49% ... $23.19 extended.

Jeff Bailey : 5/3/2006 4:43:54 PM

Take-Two Interactive (TTWO) $16.31 -2.15% ... $16.21 extended.

Jeff Bailey : 5/3/2006 4:43:20 PM

Activision (ATVI) $13.64 +1.63% ... $13.31 extended.

Jeff Bailey : 5/3/2006 4:42:54 PM

ERTS $54.50 -0.07% ... $51.78 extended.

Jeff Bailey : 5/3/2006 4:36:31 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 5/3/2006 4:27:43 PM

DIA goes out at, at, at ... $113.96.

Jane Fox : 5/3/2006 4:23:52 PM

Tomorrow we have
8:30a.m. Initial Jobless Claims For April 30 Wk. Consensus: Unch. Previous: +11K.
8:30a.m. First-Quarter Preliminary Productivity. Consensus: +3.0%. Previous: -0.5%.
8:30a.m. First-Quarter Preliminary Unit Labor Costs. Consensus: +1.3%. Previous: +3.3%.

Jane Fox : 5/3/2006 4:21:56 PM

Electronic Arts swung to a loss as higher expenses and restructuring costs offset a 16% rise in sales

Jeff Bailey : 5/3/2006 4:14:06 PM

Yesterday's regrets now forgotten!

Jeff Bailey : 5/3/2006 4:11:59 PM

YM exit alert 11,439

Jeff Bailey : 5/3/2006 4:07:28 PM

DIA $114.00

Jeff Bailey : 5/3/2006 4:07:13 PM

YM 11,433

Jeff Bailey : 5/3/2006 4:03:57 PM

DIA 114.01 ... still trading too. DAILY Pivot $113.96. Don't want a sell program to pin it back.

Jeff Bailey : 5/3/2006 4:02:07 PM

YM 11,433 ... raise bullish stop to 11,428.

Jeff Bailey : 5/3/2006 4:01:06 PM

MMM goes out at highs of session.

Jeff Bailey : 5/3/2006 4:00:41 PM

YM 11,434 ... be ready to sell 11,445 if traded. We ran out of time.

Jeff Bailey : 5/3/2006 4:00:04 PM

YM 11,432 ... cash is closed

Jeff Bailey : 5/3/2006 3:59:32 PM

Expect at YM jolt ... up/down ... just be on the alert.

Jeff Bailey : 5/3/2006 3:58:50 PM

1.5 minutes to cash close

Jeff Bailey : 5/3/2006 3:58:28 PM

Aha! ... INDU 11,402.36 .... DAILY Pivot here.

Jeff Bailey : 5/3/2006 3:57:28 PM

YM 11,432 ... somebody's sitting on it. 3-minutes to cash close.

Jeff Bailey : 5/3/2006 3:56:33 PM

TRIN 1.16

Jeff Bailey : 5/3/2006 3:55:08 PM

YM 11,430 ... see those 2-minute interval closes snapping back above 11,429.

Jeff Bailey : 5/3/2006 3:53:46 PM

YM 11,431 ... monitoring 2-minute interval chart now. volume turned on. If I see YM start slipping back below 11,428, keep your finger on the exit button.

Jane Fox : 5/3/2006 3:48:05 PM

ER to new daily highs here so you are probably right Jeff not a lot of energy stocks in the $RUT.

Jeff Bailey : 5/3/2006 3:45:51 PM

Must not be alot of energy Jane!

Jeff Bailey : 5/3/2006 3:45:03 PM

RUT.X alert ... first major to edge green.

Jeff Bailey : 5/3/2006 3:44:23 PM

ICE $70.41 +4% ... best levels of the session.

Jeff Bailey : 5/3/2006 3:43:29 PM

YM 11,435 ... talk to your trade.

Jeff Bailey : 5/3/2006 3:42:44 PM

TRIN 1.10

Jeff Bailey : 5/3/2006 3:42:24 PM

C'mon buyers.... turn on it. YM 11,430. You don't want to be short with oil slipping do you?

Jeff Bailey : 5/3/2006 3:40:30 PM

YM 11,430

Jeff Bailey : 5/3/2006 3:40:11 PM

YM raise stop alert to 11,420.

Jeff Bailey : 5/3/2006 3:38:50 PM

We never left Jane! ....

Jeff Bailey : 5/3/2006 3:36:07 PM

AMR $27.20 +6.87% ... surging

Jeff Bailey : 5/3/2006 3:35:38 PM

Stick notes on demand ... MMM $85.74 +1.46% session high.

Jeff Bailey : 5/3/2006 3:34:25 PM

TRIN 1.06

Jeff Bailey : 5/3/2006 3:34:11 PM

YM 11,427 ... sets up for test of DAILY Pivot. Decent volume building.

Jane Fox : 5/3/2006 3:33:52 PM

Both ES and NQ were able to get back into their previous day ranges with that little buy program.

Jane Fox : 5/3/2006 3:32:48 PM

They're bacckkk TICKS +1000

Tab Gilles : 5/3/2006 3:31:24 PM

Sad news today.....Louis Rukeyser, a best-selling author, columnist, lecturer and television host who delivered pun-filled, commonsense commentary on complicated business and economic news, died Tuesday. He was 73. Link

Jeff Bailey : 5/3/2006 3:31:05 PM

Brazil Petrobras alert Suspends All Bolivia Investments

Conditions Exist For Bolivia Gas Talks

DJ- While acknowledging Bolivia's "sovereign right" to nationalize gas reserves, Brazil's Petrobras feels it's in a strong position to defend its interests in eventual energy talks with that country, Petrobras President Jose Sergio Gabrielli said Wednesday.

"Conditions exist for Brazil to negotiate with Bolivia (over natural gas and other energy issues)," Gabrielli said at a nationally televised news conference. "We recognize Bolivia's sovereign right to nationalize reserves...We believe that existing contracts protect the interests of Petrobras."

On Monday, Bolivian President Evo Morales decreed the nationalization of natural gas resources. Overseas companies operating in Bolivia, including Petrobras, were given 180 days to renegotiate contracts.

Gabrielli noted that Petrobras maintains "varied interests" in Bolivia, including both oil and gas development. Meanwhile, Brazil is the largest customer for Bolivian natural gas, taking as much as 30 million cubic meters a day from Bolivia.

"We have not been informed by Bolivia of any intention on their part to raise prices for the gas we buy," he said. "If we were informed of such an intention, we would reject it."

Gabrielli said that Brazil would have the right to contest any price hikes through courts in both Bolivia and in the U.S. since such courts have been named as the venues for solving issues under existing gas contracts between the two countries.

Jeff Bailey : 5/3/2006 3:26:48 PM

Hmmmm.... it was Friday wasn't it?

Friday's afternoon lows were this week's Pivot.

Tab Gilles : 5/3/2006 3:25:56 PM

MURPHY OIL (MUR) $51.15 + $0.67.....Jan '07 Call (OBYAI) Bid $9.00/ Ask $9.30 Link

Jeff Bailey : 5/3/2006 3:23:40 PM

YM 11,415 ... remember the other day when the YM jolted higher at the cash session close.

YM "big 5" still in the green.

PG -3.21% and XOM -1.76%.

Jeff Bailey : 5/3/2006 3:20:26 PM

US House OKs Anti-Energy Price Gouging Bill

DJ- Companies found to have charged unfair prices for energy would face penalties as high as $150 million under a bill the U.S. House approved Wednesday.

Amid rising concern about record-high prices at the pump and increased political tension over how to provide relief this election year, the House easily signed off on the anti-price gouging measure in a 389 to 34 vote.

Lawmakers argued that consumers need to feel confident that in this high-priced environment, they aren't victims of market abuses.

The bill, which would still need to be approved by the U.S. Senate and signed by the president before becoming law, would prohibit price gouging in retail and wholesale sales of gasoline, diesel fuel, crude oil, and home heating oil and direct the Federal Trade Commission to defined the term "price gouging" within six months of the bill's passage by Congress.

Wholesale sales by refiners and other energy companies could face fines as high as $150 million while retailers could see fines as high as $2 million.

"The government doesn't set prices but we do have a responsibility to prohibit price gouging and unfair manipulation of the markets," said Rep. Heather Wilson, R-N.M., who introduced the bill this week. "Opportunists should not be able to reap ill-gotten windfall profits on the backs of America's families."

Jeff Bailey : 5/3/2006 3:18:53 PM

Valero (VLO) $65.11 -3.02% ... benchmark

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

Sunoco (SUN) $81.54 -2.42% .... benchmark

Jeff Bailey : 5/3/2006 3:17:56 PM

US House Rejects Bill To Boost Refining Capacity ... alert!

Jeff Bailey : 5/3/2006 3:17:21 PM

Iran Resolution To Go To Security Council Wed-Diplomats

Tab Gilles : 5/3/2006 3:17:19 PM

Are today's gasoline inventory #s just a knee jerk reaction to higher prices? What I mean is that consumers have cut-back on driving as opposed to more gasoline coming onto the market. Link Link Link Link With Memorial day coming and summer vacations, gasoline demand will be there. Don't forget that we're entering hurricane season soon.

Jeff Bailey : 5/3/2006 3:15:28 PM

03:00 Internals found at this Link

Jeff Bailey : 5/3/2006 3:10:20 PM

Research in Motion (RIMM) alert $74.83 +0.47% ... files counter-suit against Visto.

Jeff Bailey : 5/3/2006 3:03:40 PM

03:00 Market Watch found at this Link

Jeff Bailey : 5/3/2006 2:52:46 PM

BIX.X 384.31 -0.47% ... has been finding afternoon resistance between DAILY S1 and WEEKLY Pivot.

If Art says market participants worried about rise in bond yields, then that's good enough for me.

I'll test it anyway.

Jeff Bailey : 5/3/2006 2:40:06 PM

Dow Components (update) at this Link ... with my "inchworm analogy"

Jeff Bailey : 5/3/2006 2:34:44 PM

The market is my inchworm!

Jeff Bailey : 5/3/2006 2:34:25 PM

The "tail" INTC -1.23%, GM -3.18%, MSFT -2.95%, PFE (unch), T -0.84% ...

Jeff Bailey : 5/3/2006 2:33:25 PM

YM 11,408

Jeff Bailey : 5/3/2006 2:33:01 PM

Check it out ... MMM +1.06%, BA +0.42%, IBM +0.50%, CAT +0.28%, MO +0.12% ...

Jeff Bailey : 5/3/2006 2:27:13 PM

YM 11,406

Jeff Bailey : 5/3/2006 2:26:20 PM

Your RUT.X a/d line looks terrible Jane.

Jeff Bailey : 5/3/2006 2:24:07 PM

Dollar Index (dx00y) 85.80 (30-minute delayed) ... back to DAILY Pivot.

Jeff Bailey : 5/3/2006 2:17:42 PM

Cont. Unleaded vs. Cont. Oil as of last night at this Link . It doesn't look like it is going to get stronger if current trade holds to settlement.

Jane Fox : 5/3/2006 2:17:16 PM

TICKS -800

Jeff Bailey : 5/3/2006 2:15:52 PM

SUN $81.36 -2.64%

VLO $65.09 -3.05%

Jeff Bailey : 5/3/2006 2:15:11 PM

July Unleaded/Crack slighlty negative now.

Jeff Bailey : 5/3/2006 2:14:30 PM

YM 11,403 ...

Jeff Bailey : 5/3/2006 2:08:33 PM

Bullish swing trade raise stop alert ... for ICE $70.11 +3.55% ... to $69.00

Jeff Bailey : 5/3/2006 2:05:28 PM

SOX 518.42 +0.91% ... there was some type of "news" on MOT $21.93 +3.20% this morning.

Jeff Bailey : 5/3/2006 2:01:48 PM

SUN $81.21 -2.82% ... stuck its head above WEEKLY Pivot just after noon. Buyers must not have liked what they saw.

Jeff Bailey : 5/3/2006 2:00:33 PM

SIRI $4.81 -1.43% ... not much follow through

Jeff Bailey : 5/3/2006 2:00:11 PM

XMSR $17.42 -5.58% ... buyers have tuned it out.

Jeff Bailey : 5/3/2006 1:59:41 PM

RACK has turned in around

Jeff Bailey : 5/3/2006 1:59:22 PM

OI Newsletter Plays (update) found at this Link

Jeff Bailey : 5/3/2006 1:56:04 PM

ICE $70.19

Jeff Bailey : 5/3/2006 1:55:48 PM

ICE ... now a day trader's chart Link

Jeff Bailey : 5/3/2006 1:53:07 PM

ICE $69.87 +3.20% ... best levels have come at that MONTHLY 38.2%.

Jane Fox : 5/3/2006 1:50:39 PM

TICKS -800.

Jeff Bailey : 5/3/2006 1:38:55 PM

ICE $70.25 ... finds a bidder in Cincinnati.

Jeff Bailey : 5/3/2006 1:32:41 PM

MUR $51.29 +1.60% ... bucking the trend for a weaker energy trade.

Jeff Bailey : 5/3/2006 1:32:09 PM

Maybe free up some cash for more YM above DAILY Pivot?

Jane Fox : 5/3/2006 1:32:02 PM

This sideways movement with the AD volume hanging around daily lows has burned off all the bullishness I may have been seeing and am back to bearish again.

Jeff Bailey : 5/3/2006 1:31:05 PM

ICE $70.12

Jeff Bailey : 5/3/2006 1:30:37 PM

If I were long 666 shares of ICE, I'd be letting some go here. Take a profit.

Jeff Bailey : 5/3/2006 1:29:03 PM

ICE be alert here. 30-minute interval chart at this Link

Jeff Bailey : 5/3/2006 1:22:38 PM

YM 11,412 ... bulls want to see some traction is a thought here.

Jeff Bailey : 5/3/2006 1:18:50 PM

01:00 Internals found at this Link

Jeff Bailey : 5/3/2006 1:12:10 PM

How's that volume in the energy futures Marc?

Jeff Bailey : 5/3/2006 1:06:55 PM

There's a crazy buying May $80 calls today.

Jeff Bailey : 5/3/2006 1:06:02 PM

ICE $69.31 +2.37% ... be ready for a rumble if $70.20 is traded this week.

Jeff Bailey : 5/3/2006 1:04:09 PM

01:00 Market Watch found at this Link

Jeff Bailey : 5/3/2006 12:59:53 PM

SUN Option Montage found at this Link

Jeff Bailey : 5/3/2006 12:54:32 PM

They're selling some calls today though!

Jeff Bailey : 5/3/2006 12:53:56 PM

SUN $82.38 -1.42% ... don't see too many trader "flinching" on those May $80 Puts (SUN-QP) with OI of 10,934. CBOE volume 230 with Dn/Up 88:52.

Jeff Bailey : 5/3/2006 12:51:25 PM

Holy cow! YM resistance overlap at WEEKLY R2/MONTHLY R1 is 11,550. That's pretty close to the reverse head/shoulder objective I eyeballed.

Jeff Bailey : 5/3/2006 12:47:15 PM

Trader Rick! Did you catch Bill Gross' comments on CNBC this morning regarding dollar weakness potentially benefiting large U.S. multi-nationals?

Jeff Bailey : 5/3/2006 12:44:59 PM

YM 11,404 ... "This is a test of the dollar/YM network. This is only a test"

Jane Fox : 5/3/2006 12:44:06 PM

Jeff a market at multiyear highs or lows shouldn't have too much of an impact on an intraday 5 minute chart but that may all be a moot point because it surely looks like the bullish pattern is about to be aborted.

Jeff Bailey : 5/3/2006 12:43:53 PM

Dollar Index (dx00y) alert 85.63 -0.18% ... session low and slips under DAILY S1.

Jeff Bailey : 5/3/2006 12:40:48 PM

Always tough to make much of reverse h/s patterns when you're at multi-year highs. More of a "bottoming" pattern in my opinion.

Jeff Bailey : 5/3/2006 12:38:50 PM

Good gravy Jane! If it is, I come up with a YM objective of ... head= ~11,360 : neckline= ~11,450 ... 11,540

Jeff Bailey : 5/3/2006 12:33:09 PM

Jane! Excellent short-term technical observation (12:25:13)

Neckline 11,460 and shoulders marked by YM's WEEKLY Pivot.

Break below 11,377 would have shoulder growing into a bull's ear.

Jeff Bailey : 5/3/2006 12:29:15 PM


DJ- New indicator from Automatic Data Processing and Macroeconomic Advisers anticipates a 178,000 increase April nonfarm private-sector jobs. Forecast doesn't include projection for government workforce levels.

Jane Fox : 5/3/2006 12:28:34 PM

Dateline CNN Tsunami warnings issued for Fiji and New Zealand after earthquake measuring a magnitude of about 8.0 shakes southern Pacific Ocean.

Jane Fox : 5/3/2006 12:26:45 PM

... and the NQ chart.

Jane Fox : 5/3/2006 12:25:13 PM

You can see the reverse H&S on the YM chart as well.

Jeff Bailey : 5/3/2006 12:26:13 PM


DJ- Nation's largest beverage distributors agree to halt nearly all sales of sodas to public schools - a step that will remove the sugary, caloric drinks from vending machines and cafeterias around the country.

KO $41.98 -0.61% Link $58.01 +0.10% Link

Jane Fox : 5/3/2006 12:23:51 PM

I believe the VIX is telling us the bottom is in. I see a sort of reverse H&S on the S&P futures 5 minute chart now.

Jeff Bailey : 5/3/2006 12:25:55 PM

A note to our broker/dealer subscribers. I would want to stress, as I have since my first day of employment here at OI how important it is for YOU to know what comprises the index security weighting you are risking you clients' money in.

Jeff Bailey : 5/3/2006 12:19:59 PM

Dow 30 Components at this Link ... I'm going to leave this PRICE WEIGHTED index components sorted by each stock's April 28 close.

This may allow us a better understanding/observation of what is dragging/leading this month.

Jeff Bailey : 5/3/2006 12:13:01 PM

YM 5-minute interval chart at this Link

Jane Fox : 5/3/2006 12:05:15 PM

ES's new daily lows at 11:40 was not confirmed by a new VIX daily high. We may have seen the bottom for now.

Jeff Bailey : 5/3/2006 12:05:08 PM

Broker/Dealer Index (XBD.X) 225.78 -0.51% Link

Jeff Bailey : 5/3/2006 12:03:52 PM


DJ- SEC says fees to register and trade securities will be reduced by $1 billion starting Oct. 1. For 2007, fees paid by public companies and other securities issuers will be cut by 71%, while most securities trading fees will be reduced by 50%.

Jane Fox : 5/3/2006 12:03:15 PM

AD volume to new daily lows.

Jeff Bailey : 5/3/2006 12:03:00 PM


DJ- Nasdaq Stock Market underscores its continuing interest in the London Stock Exchange by acquiring an additional 9.79 million shares in the LSE for about 1,218 pence a share, raising its holdings to 18.7% from 14.99% previously.

Jeff Bailey : 5/3/2006 12:01:31 PM


DJ- Shares up nearly 15% after automotive parts supplier announces strong 1Q operating results and increases guidance for remainder of year. Operating performance benefited from demand for safety products.

TRW $26.77 +14.54% Link

Jeff Bailey : 5/3/2006 11:57:43 AM


DJ- Factory-goods orders increase by 4.2% in March, after rising by 0.4% during February, driven by higher demand for civilian aircraft and other capital goods. Economists projected a 3.9% increase in March factory goods bookings.

Jeff Bailey : 5/3/2006 11:48:17 AM

Whew! I'm already worn out.

Jeff Bailey : 5/3/2006 11:46:59 AM

Current OPEN MM Profiles that I've made at this Link ... Note: Adjusted stops for SUN/SUN-EQ and ICE

Jane Fox : 5/3/2006 11:37:42 AM

On the other hand I see the S&P futures probing daily lows but the VIX is not probing daily highs and that has to give the bulls some hope. Then again the TRIN is above its previous day highs at 1.35 and that hope seems ... well hopeless.

Jeff Bailey : 5/3/2006 11:37:25 AM

YM 11,395

Jeff Bailey : 5/3/2006 11:37:03 AM

Sell Program Premium ... SPX 1,306.31

Jane Fox : 5/3/2006 11:36:22 AM

AD volume to new daily lows and you know my mantra "Never be long if AD volume is making new daily lows."

Jeff Bailey : 5/3/2006 11:31:05 AM

Bullish swing trade raise stop alert on ICE $69.25 +2.28% ... to $67.75

Jeff Bailey : 5/3/2006 11:19:20 AM

11:00 Internals found at this Link

Jane Fox : 5/3/2006 11:19:06 AM

I have seen the bulls turn a very bearish day around many many times in the past and that may be happening now but lately the bulls are just not as strong as they used to be. Of course, I can do all the table pounding I want about not been long and those program trades sitting in the background will come along and totally blindside me.

Jeff Bailey : 5/3/2006 11:13:44 AM

YM 11,408

Jeff Bailey : 5/3/2006 11:13:24 AM

Sell Program Premium ... SPX 1,308.04

Jeff Bailey : 5/3/2006 11:06:20 AM

TRINQ at DAILY R2 1.47 ... get in there Jane!

Pivot down at 0.893 today.

Jeff Bailey : 5/3/2006 11:04:28 AM

YM 11,414

Jeff Bailey : 5/3/2006 11:04:15 AM

Buy Program Premium SPX 1,308.26

Jeff Bailey : 5/3/2006 11:03:03 AM

11:00 Market Watch found at this Link

Jane Fox : 5/3/2006 11:03:00 AM

If you are long here you are one brave soul but with the program trades sitting in the background maybe the way to go.

Jane Fox : 5/3/2006 11:01:34 AM

There go the TICKS +800. It looks like the bulls are pulling another rabbit out of the hat.

Jeff Bailey : 5/3/2006 10:59:24 AM

YM long entry alert 11,403 here, stop 11,370 to begin, target 11,475

Jeff Bailey : 5/3/2006 10:58:10 AM

IBM $83.13 +0.86% ... challenges DAILY R2

Jeff Bailey : 5/3/2006 10:55:48 AM

HD $40.17 ... still above WEEKLY Pivot (thinking unleaded weakness might bring bid)

YM 11,397

Jane Fox : 5/3/2006 10:54:40 AM

Jeff no I do not know how much energy is in the $RUT - sorry.

Jane Fox : 5/3/2006 10:53:55 AM

Sorry you bulls but that ain't nuttin' out there that would have me long now.

Jeff Bailey : 5/3/2006 10:53:08 AM

PG #10 weight for YM. PG -4.49%

Jeff Bailey : 5/3/2006 10:52:35 AM

YM 11,406 ... MMM +0.34%, BA +0.18%, IBM +0.76%, CAT -0.43%, MO -0.42%

Jeff Bailey : 5/3/2006 10:51:01 AM

Jane ... do you know what % of energy makes up the RUT.X?

Jeff Bailey : 5/3/2006 10:50:09 AM

NASDAQ may be the bull play today. Less oil/energy

Jeff Bailey : 5/3/2006 10:49:23 AM

TRIN 1.23 alert

Jeff Bailey : 5/3/2006 10:49:10 AM

XOM $63.50 -1.80% ... probes DAILY S2 (session low)

Jeff Bailey : 5/3/2006 10:45:55 AM

EIA Weekly Capacity Table found at this Link

Jeff Bailey : 5/3/2006 10:40:48 AM

Modest increase in Percent Utilization of Ref Op Cap ... 88.78%

Ref Op Capacity unchanged at 17,335,000

Jeff Bailey : 5/3/2006 10:38:09 AM

EIA Crude Oil, Gasoline, Distillate Inventory Table found at this Link

Jane Fox : 5/3/2006 10:35:41 AM

It looks like the bulls are gaining a bit of foot hold here but keep your eye on the blue line and you know it is probably only a blip. Link

Jeff Bailey : 5/3/2006 10:34:20 AM

Sell Program Premium ... SPX 1,308.39

Jeff Bailey : 5/3/2006 10:32:32 AM

VLO $65.26 -2.80% ... short for those needing a trade.

Jeff Bailey : 5/3/2006 10:30:52 AM

"Big build in gasoline" ... alert

Jeff Bailey : 5/3/2006 10:29:32 AM

Naked Call lower stop alert ... on the two (2) Sunoco $82.39 -1.41% SUN May $85 Calls (SUN-EQ) to $85.50 for the underlying.

Jeff Bailey : 5/3/2006 10:24:52 AM

OI Newsletter Plays found at this Link

Jeff Bailey : 5/3/2006 10:21:47 AM

Vitesse (VTSS) $1.78 -5.82% ... getting stopped on short from last night's extended in personal account.

Jeff Bailey : 5/3/2006 10:19:55 AM

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

Jeff Bailey : 5/3/2006 10:13:59 AM

Procter & Gamble 3Q NET UP 37%, RAISES OUTLOOK

DJ- Consumer-products giant reports net income of $2.21 billion, or 63c a share, as sales climb 21% to $17.25 billion helped by the Gillette acquisition, price increases and costs controls. Better-than-expected results prompt Procter & Gamble to again boost its fiscal-year outlook, though 4Q earnings are projected to fall slightly short of analysts' estimates.

PG $55.58 -4.35% Link

Jeff Bailey : 5/3/2006 10:06:04 AM

US ISM April Non-Mfg Business Index 63.0 Vs March 60.5

US ISM April Non-Mfg Prices Index 70.5 Vs March 60.5

US ISM April Non-Mfg Employment Index 56.5 Vs March 54.6

US ISM April Non-Mfg New Orders Index 64.6 Vs March 59.5

US ISM: Prices Are 'Significant Area Of Concern'

US ISM: Prices At Highest Reading Since Nov 2005

Jeff Bailey : 5/3/2006 10:03:54 AM

10:00 Market Watch found at this Link

Jane Fox : 5/3/2006 10:00:43 AM

Interestingly the VIX just made a new daily low - which is bullish.

Jane Fox : 5/3/2006 10:00:03 AM

This is telling you the bears have the control and it is not time to be long. Waiting for the TICKS to chime here. Link

Jane Fox : 5/3/2006 9:55:05 AM

OK the bears are gaining momentum and I think they have the reins. TRIN and VIX to new daily highs agree.

Jane Fox : 5/3/2006 9:43:57 AM

TRIN is 1.02 but above its previous day range a tad bearish). VIX opens mid range but making new daily lows (a tad bullish). Like I said the bears have the upper hand but certainly do not have control.

Jeff Bailey : 5/3/2006 9:27:18 AM

Program Trading Levels ... HL Camp & Company has their computers set for program buying at $+5.82 and set for program selling at $+3.39.

Fair Value for the S&P 500 today is $4.66.

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