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Jeff Bailey : 5/18/2006 2:27:39 AM

MMM $84.42 ... tomorrow's DAILY Pivot Levels are ... $82.99, $83.70, Piv= $84.84, $85.55, $86.69.

Jeff Bailey : 5/18/2006 2:22:11 AM

Index Pivot Matrix found at this Link

Jeff Bailey : 5/18/2006 12:52:24 AM

HL Camp quick review of today's program activity Link

Jeff Bailey : 5/18/2006 12:52:20 AM

As a general individual stock option rule for playing the "Op-Ex Game" ... Look for a stock(s) that is a BIG weight in a MAJOR INDEX that is trading NEAR A STRIKE where an options traders DOESN'T PAY MORE that $0.35/contract, where their is PAIN that can yet be delivered.

It is HELPFUL to have some idea of where the INDEX MAX PAIN Theory Value is at, as well as the STOCK's to then devise the scenario and lay out the plan.

Then remember Forrest Gump's mama ... "Life was like a box of chocolates...."

Then remember to do your homework (try to put the odds on your side) and always sprinkle your bets.

Jeff Bailey : 5/18/2006 12:27:49 AM

In Wednesday's MM I mentioned PG might be a candidate for "Option Expire Game." It is NOT (based on what I would look for in the options montage).

PG 30-minute chart and options montage at this Link

There doesn't appear to be any "Pain" to deliver.

Jeff Bailey : 5/18/2006 12:12:41 AM

Swing Trade Long SPECULATIVE Calls alert ... Place an order to buy five (5) of the 3M MMM May $85 Calls (MNZ-EQ) for LIMIT $0.25.

If/When filled, then place an order to SELL at $0.70, or prior to Friday's close.

Jeff Bailey : 5/17/2006 11:59:14 PM

HL Camp & Company's "The Expiring Option Exercise Manipulation Game" Link

Jeff Bailey : 5/18/2006 12:01:10 AM

Here's my "best" SPECULATIVE candidate (that I've found so far tonight) for an OP-EX "manipulation game."

Scenario Stated: I think DIA/DJX "Max Pain" is somewhere around $113.50-$114.00, so as artificial as it may be into Friday's close, that's the scenario behind "Max Pain." The ASSUMPTION is that the options market maker is a SELLER OF OPTIONS and he/she wants to give "Max Pain" to the BUYERS/HOLDERS of as many calls/puts as possible.

All YOU as a trader needs to do is ask yourself, "Is it worth the RISK of BUYING the $85.00 calls."

Here's the play. Now PRETEND you are the options market maker for MMM. Where can you inflict as much "pain" as possible into Friday's close?

MMM 30-minute chart & Option Montage Link

Jeff Bailey : 5/17/2006 10:18:50 PM

DIA Option Montage ... (Open Interest is as of Tuesday's close) at this Link

From a "Max Pain Theory" perspective, I can add up OI in the $112-$115 calls and pretty much sum up the OI for the $112-$113.

What a YM futures trader looking LONG has to be on the al_rt for is why anyone in their right mind was/is so aggressive with their $113 PUT BUYING? Fools? Or a "you want it below $113 you can have it for the summer" thought.

Alway tough to say for certain as it could well be a trader that at DIA $116/$115 was saying "It is a gift! A gift I tell ya! OVERLEVERAGE and sell 100 contracts for $0.20."

At $113 that same trader could be saying "Oh... the.... PAAAAAAIN! Get me out, get me out."

OI Technical Staff : 5/17/2006 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 : 5/17/2006 9:58:48 PM

Let's take a quick look at the DIA option montage and final tally shall we?

Jeff Bailey : 5/17/2006 9:56:45 PM

YM 5-minute interval chart with tomorrow's DAILY (green) Pivot Retracement at this Link

I talked to Marc on the phone just after today's close. I told Marc (so I'll tell you) that I thought a good long setup for the YM was if we could get a "gap down" look on the YM and far enough away from some Max Pain levels to then get a "ramp" back higher.

YM "looks strong" this evening +33, so not sure about the gap down at this point.

Jeff Bailey : 5/17/2006 9:30:43 PM

YM Pivot Levels for tomorrow at this Link

Jeff Bailey : 5/17/2006 9:23:10 PM

YM recap of today's trade at this Link ... Used Thursday's "bad trade" for a "good trade" today.

Jeff Bailey : 5/17/2006 7:59:48 PM

Question regarding VLO What price would you be looking to cover the VLO short?? I did not hedge it as you did, I'm short at $63.35.

Jeff's Reply My MM profile is NOT hedged on the VLO short either. All I'm doing with the "short" VLO May $60.00 PUTS (sold for $1.00) is saying "I'm willing and ABLE to buy back 100 shares of VLO at ($60-$1=$59) A trader that is SHORT 100 shares the underlying shares at $63.35 might be willing to buy 100 shares VLO if assigned on the put.

Let's recap real quick! On Monday, 05/15/06 my MM profiles was short a full position (based on $10k being a full position, then 158 shares. During the session, I issued the "al_rt" to close out, or buy back 58 shares of position at $59.75.

Now, this is as much strategy and position/account management as anything. Yes, I think the stock hangs around $60.00 based on my analysis of VLO's May Open Interest, but even a trader that is PURE SHORT the underlying shares of VLO can leg out of a trade, or take some partial profits when a decent move in his/her favor is found initially.

Remember, this is an "oil" stock and they can turn hot/cold pretty quick.

Traders/investors ... YOU DO NOT NEED TO BUY/SELL all of a position at ONCE!

But .... IF you are a trader that ONLY trades "all in and all out" at once, then I'd make darned sure this one doesn't turn into a loss. So stop would go break-even.

Now ... let's say I'm short 40 shares of VLO at $63.35 (I don't know how short the trader is) and I profiled a target of $56.00 on 05/12/06 10:43:35 AM) Link Are you monitoring Sunoco (SUN)? Link Good, you perhaps see potential VLO downside to $56.00 (pure bar chart, PnF chart, WEEKLY/MONTHLY Pivots). We know based on our trade blotter and constant monitoring that SUN is the weaker "refiner" and tends to lead to the downside, lag the upside.

Without showing a Pivot Retracment chart here, I'd at least lower a stop just above Tuesday's high of $62.24 on VLO Link

Jeff Bailey : 5/17/2006 5:49:28 PM

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

Today's Activity

Stock/Option

While shy of my $47.50 bear target, I felt it best to take advantage of the spike in volatility and closed out the Marvell Technology MRVL June $52.50 Put (UVM-RX) at the bid of $4.30 ($+1.95, or +82.98%)

Playing the theme of selling some higher premiums I've sold NAKED two (2) of the Frontier Oil FTO Jun $65 Calls (FTO-FM) at the bid/low of $0.90.

YM Futures

Wednesday morning's are NOT a good morning for me to trade with the other duties I have, but managed to day trade short the YM at 11,262 (stop= 11,282 : target= 11,230) and closed at target (+32pts, or $+160/contract).

Marc Eckelberry : 5/17/2006 5:04:50 PM

Do not read the press, it will spook you. I fact, the more bearish they are, the more comfort you can take in those QQQQ July 39 calls. Stop is set at 1.20. Let the ball roll and stay calm amidst the storm.

Jeff Bailey : 5/17/2006 5:02:51 PM

Closing Internals found at this Link

Jeff Bailey : 5/17/2006 4:18:59 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 5/17/2006 3:56:42 PM

VXO.X ... 15.14 +22.69% ... did find its WEEKLY R2 (see yesterday's MM)

Jeff Bailey : 5/17/2006 3:53:22 PM

PG benchmarking ... $55.33 -1.24% ... PG-EK are $0.45 X $0.55.

Jeff Bailey : 5/17/2006 3:47:28 PM

Hmmmm ... I might have to take back my 03:39:56 post.

PG $55.44 -1.07% ...

Jane Fox : 5/17/2006 3:48:07 PM

Reports tomorrow are:
8:30a.m. Initial Jobless Claims For May 14 Wk. Consensus: -9K. Previous: -1K.

10a.m. April Conference Board Leading Indicators. Consensus: +0.1%. Previous: -0.1%.

12p.m. May Philadelphia Fed Business Index. Conseusus: 12.4. Previous: 13.2.

Marc Eckelberry : 5/17/2006 3:45:43 PM

-200 DOW point days have more often than not been followed by an up day.

Marc Eckelberry : 5/17/2006 3:44:19 PM

Slight adjustment for a possible tag of 39 in the coming days. It's remote, but has to be factored in.

Marc Eckelberry : 5/17/2006 3:41:37 PM

I am fairly confident that option traded at a low for what we plan on doing, which is an exit near 41.

Marc Eckelberry : 5/17/2006 3:44:33 PM

QQQQ option Exit Point Alert
Long July 39 calls at 1.60, raise stop to 1.20.

Jeff Bailey : 5/17/2006 3:39:56 PM

Due to extreme option premiums, I will not be profiling an "option expiration game" trade for May expiration.

Jeff Bailey : 5/17/2006 3:34:58 PM

Oregon Court Throws Out Verdict vs. Philip Morris DJ - An appeals court has ordered a new trial for tobacco manufacturer Philip Morris after throwing out a $150 million jury verdict that a trial judge had ruled was "grossly excessive."

A jury in 2002 ordered the tobacco company to pay $150 million in punitive damages to the estate of Michelle Schwarz, who died of lung cancer in 1999 at age 53.

But Multnomah County Circuit Judge Roosevelt Robinson found that amount "grossly excessive" and reduced it by a third, to $100 million.

The appeals court, however, said the verdict complied with federal law and ordered Robinson to reinstate the full amount.

Philip Morris is a unit of New York-based Altria Group Inc. (MO).

MO $71.33 -0.55% Link

Marc Eckelberry : 5/17/2006 3:34:18 PM

This is the June QQQQ option table. Link 39 strike has a 7 pc ratio (7 puts to each call) The herd is shorting this bottom. Use July options, as the signal suggests.

Jeff Bailey : 5/17/2006 3:29:59 PM

Argentina April Industrial Output +7.7% on Year, +0.3% on Month

DJ- Argentina posted healthy industrial production growth in April, continuing the first quarter's solid, if slower, rate of expansion in the manufacturing sector.

Industrial production grew 7.7% in April from a year earlier, the national statistics agency, INDEC, said in a report released Wednesday. On a monthly basis, output was up 0.3% from March. Both figures are adjusted for seasonal factors.

For the four months to April, industrial production was up 7.1% from the first four months of 2005 on an accumulated basis.

The year-on-year result came in slightly stronger than the 7.6% median forecast produced in the Argentine Central Bank's monthly survey of economists. It also marked an acceleration from the 7.2% annualized growth rate seen in March.

In general, the growth rate is in keeping with the broader trend seen through an otherwise volatile first three months of the year.

Industrial production dropped in January, but that was entirely due to one-off auto plant closures for summer vacations. The rebound in automaking activity then produced a strong gain in February, which was followed by a slowdown in March.

In all, however, economists say the manufacturing sector has been growing at an average of around 7% annualized rate this year, a rate that is slower than the double-digit gains of last year but strong nonetheless.

Marc Eckelberry : 5/17/2006 3:28:57 PM

QQQQ Option Entry Point Alert -
Buy QQQQ July 39 calls (QQQGM)at 1.60, stop 0.80.

Jeff Bailey : 5/17/2006 3:14:10 PM

03:00 Internals found at this Link

Jeff Bailey : 5/17/2006 3:03:11 PM

03:00 Market Watch found at this Link

Tab Gilles : 5/17/2006 2:53:02 PM

EIA Weekly Report Link

Jeff Bailey : 5/17/2006 2:52:17 PM

YM alert 11,204 (WEEKLY S2)

Jane Fox : 5/17/2006 2:46:07 PM

On May 11th the AD volume ratio hit a low of 0.18 at the end of the day. On May 12th the AD volume ratio hit a low of 0.19 at the end of the day. So far today this ratio has hit a low of 0.10.

Jeff Bailey : 5/17/2006 2:35:35 PM

Newmont Mining (NEM) $52.00 -2.80% Link ... WEEKLY S2 and bullish support trend.

BCM rates the stock "avoid"

Jeff Bailey : 5/17/2006 2:30:53 PM

You'll have to twist my arm pretty hard to be buying calls today.

Jeff Bailey : 5/17/2006 2:30:13 PM

VIX.X 15.29 +14.53% ...

Jeff Bailey : 5/17/2006 2:29:06 PM

Murphy Oil (MUR) $50.00 -0.67% Link ... MURAI are $8.30 x $8.60.

Jane Fox : 5/17/2006 2:25:43 PM

Nasdaq Composite previous yearly low was 2189 and today's low was 2194.

Jeff Bailey : 5/17/2006 2:17:36 PM

YM target alert 11,230

Jeff Bailey : 5/17/2006 2:13:42 PM

YM lower stop alert ... to break even.

YM 11,249 here.

Tab Gilles : 5/17/2006 2:08:57 PM

$NASI, $NAHL, $VXN Link Link Link Link

Tab Gilles : 5/17/2006 2:05:17 PM

Murphy Oil (MUR)AG Edwards today raised from hold to buy with $60 PO. Link Link Take a look at Jan '07 $45 Leap calls (MURAI).

Jeff Bailey : 5/17/2006 2:04:33 PM

YM short entry alert 11,262, stop 11,282, target 11,230

Jeff Bailey : 5/17/2006 1:57:04 PM

Current OPEN MM Profiles found at this Link

Jane Fox : 5/17/2006 1:52:55 PM

TICKS are rising up to +800 and the AD line and volume are "hooking" up but not enough to get me long for sure.

Jane Fox : 5/17/2006 1:51:15 PM

Q1 HOME AFFORDABILITY INDEX RISES TO 41.3% VS. 41% Q4

Jeff Bailey : 5/17/2006 1:36:52 PM

Total: Matterhorn Oil/Gas Platform to Restart by Mid-June

DJ- Total SA's (TOT) deepwater Matterhorn platform in the U.S. Gulf of Mexico has completed repairs and is awaiting the restoration of a pipeline to resume production, a company spokesman said Wednesday.

"Our target is mid-June," said Tom Ryan, spokesman for Total E&P USA.

The facility will come back on line at a production level of 14,500 barrels of oil a day and 32 million cubic feet a day of natural gas, Ryan said.

Matterhorn, off-line since the major hurricanes of the record-breaking 2005 season, is one of the last major deepwater structures in the U.S. Gulf of Mexico awaiting output restoration. Delays to repairs of the third-party pipeline serving the platform occurred due to "shortage of equipment," Ryan said.

TOT $131.92 -4.12% Link

Jane Fox : 5/17/2006 1:30:29 PM

LAST NASDAQ COMP. CLOSE BELOW 2,200 WAS NOV. 16, 2005

Jane Fox : 5/17/2006 1:29:54 PM

$RUT ad line is 352/1331 or 0.26%

Jane Fox : 5/17/2006 1:28:46 PM

NASDAQ DECLINERS OUTNUMBER ADVANCERS 11 TO 4

Jeff Bailey : 5/17/2006 1:22:29 PM

01:05 Internals found at this Link

Jeff Bailey : 5/17/2006 1:08:10 PM

01:05 Market Watch found at this Link

Jeff Bailey : 5/17/2006 1:03:16 PM

YM and ER look like a matched pair.

Jeff Bailey : 5/17/2006 1:02:08 PM

Quick trader thought ... if looking to play a bounce from the long side, or currently short, 50% of today's "dynamic" a point to be alert to.

Jeff Bailey : 5/17/2006 1:01:04 PM

DIA Options Montage at this Link

Jeff Bailey : 5/17/2006 12:55:11 PM

Notable "bullish bias" with selling DN/Up 1,579:730 in the DIA $114 Puts (DIA-QJ). Last $1.35 with high/low $1.75/$0.75.

Jeff Bailey : 5/17/2006 12:50:17 PM

YM 11,289 ... yesterday's 04:00 Mark (tie with NYSE close) was 11,440.

50% retracement from 11,440 to current LOW (11,247) would be 11,343.50 (say 11,343)

19% of this current "dynamic" retracement right here at 11,284.

Jeff Bailey : 5/17/2006 12:47:14 PM

NYSE Comp. ($NYA.X) 8,243.44 ... 50% retracement of today's current decline would be 8,300.

Curbs lifted if NYSE reclaims 8,307.57.

NYSE WEEKLY S2 8,246.59 (ties with current "dynamic" 19.1%)

Could see some short human short covering above 8,250.

Jeff Bailey : 5/17/2006 12:37:52 PM

Chile Central Bank (headlines)

Says Interest Rates Still Below Neutral

Peso Marginally Stronger Than Fundamentals

Says 1Q Prelim GDP Up `Around' 5.0% On Yr

Sees 3.4% Inflation End-2006

Jeff Bailey : 5/17/2006 12:29:21 PM

Chile's Central Bank Cuts 06 GDP Growth Estimate to 5.0%-6.0%

DJ- During the first quarter, agriculture, in particular, was hurt by climate factors and changes to non-traditional crops, the bank said.

Economic activity, however, will pick up in the second quarter, the bank said, adding that second half growth will also be stronger than first half growth, without providing any growth figures.

This growth will be backed by booming export returns - fueled by soaring copper, molybdenum and other commodity prices - and favorable domestic demand, which likely will grow 6.8% on the year, the bank said.

Exports are expected to break record and reach $51.9 billion, while imports will top $34.9 billion, leading to a 2006 trade surplus $17.0 billion, the bank said in its report, which it presented to Congress Wednesday.

While copper is expected to fetch an average $2.60 a pound, the bank pegged molybdenum prices at an average $15-$20 a pound. For 2007, the monetary authority sees the average copper price falling to $2.25 a pound.

Jane Fox : 5/17/2006 12:25:26 PM

We got more a bounce than I expected but sorry folks but I just don't see a lot more upside here. AD volume making new daily lows.

Jeff Bailey : 5/17/2006 12:13:26 PM

NYSE Comp. ($NYA.X) finished yesterday's session at 8,387.57.

Program trading collars would be removed on a trade at 8,307.57.

NYSE Comp. 8,231.17 ... here

Jeff Bailey : 5/17/2006 12:09:20 PM

NYSE Circuit Breakers and Trading Collars Link

Jeff Bailey : 5/17/2006 12:00:06 PM

Dollar Rallies, Euro Drops Below $1.2800

DJ- The dollar rallied sharply versus its major rivals Wednesday following comments by France's finance minister signaling that further strong gains for the euro would not be welcome.

Analysts said that the comments by French Finance Minster Thierry Breton in Paris, reported by Reuters, spooked markets as it was one of the first real signs of official European discomfort to the recent sharp dollar losses versus the euro.

The dollar not only reversed overnight losses but pushed well ahead of levels from late Tuesday. The euro dropped rapidly to an intraday low at $1.2750, down a full cent on the day. At the same time, the dollar hit its peaks for the global session against the yen, Swiss franc and U.K. pound.

Around 10.50 a.m. (1450 GMT), the euro was at $1.2793 from $1.2855 late Tuesday, according to EBS. The dollar was at Y109.72 from Y110.58 late Tuesday. The euro was around Y140.35 from 141.32, and the dollar was quoted at CHF1.2150 compared with CHF1.2126 late Tuesday. Sterling was trading at $1.8862 from $1.8777.

Breton stated that "our economy can absorb" the euro's rise over the past three weeks against the dollar, but he did not want the euro's gains versus its U.S. counterpart to keep getting bigger.

"We will do everything so that this difference doesn't keep growing," said Breton, speaking before the Economic and Social Council, Reuters reported.

While Breton is unable to intervene in markets without the explicit approval of fellow euro zone policy makers, markets took heed of his words as the euro has tumbled under the $1.28 level and the dollar has lifted close to the Y110 mark.

Jeff Bailey : 5/17/2006 11:56:32 AM

Program Trading Crubs in (alert) with NYSE Composite down more than 160 points.

Curbs would be lifted today if the NYSE Comp. ($NYA.X) returns to within 80 points of Tuesday's (prior day) close.

Jane Fox : 5/17/2006 11:50:36 AM

Dateline WSJ The Enron jury began deliberations Wednesday, after a four-month trial. The government alleges former top executives Kenneth Lay and Jeffrey Skilling repeatedly lied to investors and employees, touting Enron's financial health when they knew accounting trickery hid failing ventures. Defense attorneys counter that the government has created crimes where none existed. Enron's dramatic collapse in 2001 made it a symbol of corporate misdeeds in the 1990s boom.

Jeff Bailey : 5/17/2006 11:39:16 AM

VIX.X 15.08

Jeff Bailey : 5/17/2006 11:38:45 AM

Swing trade sell NAKED Call alert Sell two (2) of the Frontier Oil FTO June $65 Calls (FTO-FM) at the bid of $0.85.

FTO $57.27 -2.68% Link

Jeff Bailey : 5/17/2006 11:26:30 AM

11:00 Internals found at this Link

Yesterday's Internals found at this Link

Jeff Bailey : 5/17/2006 11:11:55 AM

YM Monthly Pivot alert

Jeff Bailey : 5/17/2006 11:06:19 AM

"Bid" in dollar

Jeff Bailey : 5/17/2006 11:05:44 AM

11:00 Market Watch found at this Link

Jeff Bailey : 5/17/2006 10:55:49 AM

Treasury's Snow (headline)

FY06 Deficit Expected `Well` Below $423 Bln

DJ- U.S. Treasury Secretary John Snow said Wednesday that emerging economies, and China in particular, need to adopt more flexible exchange rate policies and other economic reforms to address growing global imbalances.

"The continued rise in global imbalances...is a development that particularly needs attending to by economies with weak growth rates, less attractive investment climates, or overly rigid exchange rate regimes," Snow said in testimony submitted to the House Financial Services Committee.

Snow singled out China in particular among emerging economies as a nation that "has a particularly important role to play in addressing global imbalances."

The Treasury secretary outlined several steps Beijing should take to play its part in unwinding current account balances.

"Increased exchange rate flexibility...is a necessary part of this internal and external rebalancing, as are reforms in the financial system and a host of policies to support reduced household and enterprise savings," Snow said.

Snow said the U.S. is "intensively" engaged with the Chinese on foreign exchange, balanced growth and financial sector modernization issues. He added that Chinese policymakers recognize the need to move away from growth pushed by external demand and credit-fueled investment.

To play its part in reducing imbalances, the U.S. needs to keep growing the economy while reducing the fiscal deficit, according to Snow. He said the U.S. is on track to cut the deficit in half by 2009 - an oft-stated goal of the Bush administration - with current projections showing the deficit at 1.4% of Gross Domestic Product by that time.

And Snow said the deficit for fiscal 2006 is "on track to come in well below the estimate of $423 billion," included in the president's fiscal 2007 budget.

In wide-ranging testimony on international finance and the global economy, Snow also addressed trade issues, and the so-called Doha round of trade negotiations begun in 2001.

"The United States remains fully committed to achieving a very robust Doha package, with emphasis on real, additional market access in the core areas of negotiations," Snow said. Those core areas include agriculture, manufacturing and services, including financial services.

But Snow recognized the current round of negotiations have reached something of an impasse, particularly over agriculture issues. He laid much of the onus for moving negotiations forward at the European Union's feet.

"The door to a successful round is agriculture, and the key to that door is a much more ambitious agriculture market access proposal from the E.U.," Snow said.

The secretary added that China, India and Brazil also have to be willing to open their markets in goods and services.

The Treasury secretary also said the International Monetary Fund needs "fundamental reform - in its policies and its governance," in order to continue playing a role in promoting global growth and stability.

In particular, Snow said the U.S. has stressed a need for the IMF to pay greater attention to surveillance of exchange rate policies. Snow also said the IMF should overhaul its governance structure, to better reflect the growth of emerging economies.

"We have agreed that a first step could consist of a limited ad-hoc increase for the most under-represented members," Snow said.

But Snow said the U.S. would only support an ad-hoc increase if it was "credibly linked to a second step that delivers fundamental reform."

Jeff Bailey : 5/17/2006 10:50:34 AM

EIA Weekly Gross Inputs, Refinery Op. Cap., Pct. Utilization of Op. Cap. Table found at this Link

Jeff Bailey : 5/17/2006 10:44:27 AM

Precent Utilization of Refinery Op. Capacity lower to 89.81%. Gross inputs fell by 73,000 barrels/day to 15.56 million. (hints of demand easing)

Jeff Bailey : 5/17/2006 10:40:03 AM

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

Jane Fox : 5/17/2006 10:36:21 AM

U.S. gasoline supply rise for a third week: Energy Dept

Jeff Bailey : 5/17/2006 10:31:48 AM

Swing trade put close out alert for the one (1) UVM-RX at the bid of $4.30. MRVL $49.92 here.

Jeff Bailey : 5/17/2006 10:27:10 AM

Marvell Tech (MRVL) $50.09 -0.35% ... at and has been below WEEKLY/MONTHLY S2 correlation. It would be "wise" to close at least a portion of puts if a trader held more than one at these levels of volatility/premium. Here's the near-term head/shoulder pattern with retracement at this Link

Jane Fox : 5/17/2006 10:25:16 AM

MCDONALD'S STARTED AT BUY AT CITIGROUP

CITIGROUP SETS MCDONALD'S PRICE TARGET AT $41

Jane Fox : 5/17/2006 10:23:32 AM

Dateline WSJ Vitesse Semiconductor terminated its CEO and finance chief, marking the latest fallout from probes at public companies into possible improper dating of stock options. Previously, the Vitesse executives had been suspended amid questions about the "integrity of documents" involving its stock-option program.

Jane Fox : 5/17/2006 10:14:55 AM

TEHRAN, Iran (AP) -- Iran said Wednesday that accepting European incentives to suspend uranium enrichment would be like trading gold for chocolate and mockingly offered the Europeans trade inducements of its own.

European nations said they may add a light-water nuclear reactor to a package meant to persuade Tehran to permanently give up uranium enrichment _ or face the threat of U.N. Security Council sanctions. A light-water reactor is considered less likely to be misused for nuclear weapons development than the heavy-water facility Iran is building, although such misuse would still be possible.

Jeff Bailey : 5/17/2006 10:10:47 AM

YM 11,341 ... should go overlap 11,320. No-man's land for me to enter a trade since the CPI reaction.

Jeff Bailey : 5/17/2006 10:08:17 AM

ICE $71.59 -5.52% ... covering a short in personal account here at WEEKLY S1.

Will look for an official profile if we see an EIA bounce back higher.

Jane Fox : 5/17/2006 10:06:06 AM

NASDAQ MOST ACTIVE STOCKS: SUNW VTSS SIRI MSFT AMAT

Jeff Bailey : 5/17/2006 10:03:09 AM

10:00 Market Watch found at this Link

Jeff Bailey : 5/17/2006 9:50:11 AM

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

Jeff Bailey : 5/17/2006 9:30:22 AM

Program Trading Levels for Wednesday ... HL Camp & Company has their computers set for program buying at $+4.86 and set for program selling at $+2.48

Jane Fox : 5/17/2006 9:21:22 AM

Today in history

On May 17, 1954, the U.S. Supreme Court handed down its Brown v. Board of Education decision, which found that racially segregated public schools were inherently unequal, and therefore unconstitutional.

In 1792, the New York Stock Exchange was founded by brokers meeting under a tree located on what is now Wall Street.

In 1875, the first Kentucky Derby was run; the winner was "Aristides."

Jane Fox : 5/17/2006 8:58:25 AM

BANK OF AMERICA LIFTS APPLIED MATERIALS PRICE TARGET TO $19

Jane Fox : 5/17/2006 8:56:32 AM

RBC CUTS GOLDCORP PRICE TARGET TO $42.

Jane Fox : 5/17/2006 8:43:45 AM

Bond market didn't like the CPI data either. Link

Jane Fox : 5/17/2006 8:41:49 AM

Dateline Wired News. MOUNT MERAPI, Indonesia (AP) -- Mount Merapi shot a large cloud of searing hot ash and gas into the sky Wednesday, ending two days of relative calm and underscoring the dangers still facing thousands of people living on the volcano's slopes.

Witnesses said the eruption appeared to be smaller than the mountain's most violent sputterings Monday, when ash and gas clouds surged around 2 1/2 miles from the peak and triggered panic.

Vulcanologists keeping the mountain on 24-hour watch were not immediately available for comment on the eruption just after 5 p.m. (6 a.m. EDT), which sent volcanic material plunging down its western flanks, but appeared to fell well short of populated areas.

Jane Fox : 5/17/2006 8:31:53 AM

CPI CORE UP 2.3% IN PAST 12 MONTHS

CPI UP 3.5% IN PAST 12 MONTHS

APRIL CPI ENERGY PRICES UP 3.9%, HIGHEST SINCE JAN.

APRIL CORE CPI UP 0.3%, VS. 0.2% EXPECTED

APRIL CPI UP 0.6% VS 0.5% EXPECTED

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