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Jeff Bailey : 5/19/2006 12:00:42 AM

Program Trading Levels for Friday ... HL Camp & Company has their computers set for program buying at $+4.62 and set for program selling at $+1.78.

Jeff Bailey : 5/18/2006 11:54:47 PM

Index Pivot Matrix for tomorrow at this Link

Jeff Bailey : 5/18/2006 11:05:02 PM

YM futures 5-minute intervals all sessions at this Link

OI Technical Staff : 5/18/2006 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The Market Monitor has been archived.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 : 5/18/2006 9:18:35 PM

YM Pivot Matrix for tomorrow at this Link

Jeff Bailey : 5/18/2006 9:12:04 PM

YM recap of Thursday's trade at this Link

See that action just after the Swing long stop? Trades MONTHLY S1, then gets hit "easily" on re-test of WEEKLY S2? That's a sign of some determination. Watch either WEEKLY Pivot, or WEEKLY R1 as a meaningful level of resistance.

Jeff Bailey : 5/18/2006 8:35:20 PM

CME Plans to introduce CME Housing Futures and Options ... These tools allow institutional investors and businesses the ability to better handle housing price risk - while giving investors the opportunity to diversify their portfolios without actually buying real estate.

Jeff Bailey : 5/18/2006 8:27:54 PM

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

Today's Activity

Stock/Options At the open went long five (5) of the 3M MMM May $85 Calls (MNZ-EQ) for $0.25/contract. This trade looked VERY good until about 03:00 PM EDT. Will assess in the morning, but looking to exit for what we/I can.

Swing traded short 1/2 position ($10k= full, so $5k= 96shares and I did round up to 100 which may give us ability to sell an out-money put if we want) in shares of Newmont Mining (NEM) at the bid of $51.57. Stop currently $54.00 and targeting $47.00.

Valero Energy short and short put trade update. Tomorrow is May expiration and the VLO May $60 Put (VLO-QL) may finish in-the-money and be assigned (we're OBLIGATED to buy 100 shares of VLO @ $60.00). IF VLO closed below $60.00 tomorrow, we will simply use the 100 share VLO short to meet assignment. IF VLO closes BELOW $60.00 and you are a trader that is ONLY short the underlying I will be "dropping the trade" as if it were entirely closed out.

YM Futures

Swing traded long the YM at 11,261 with target of 11,360, but was stopped out at 11,188 (-73 points, or $365/contract)

As the YM looked set to run to DAILY Pivot, proviled a day trade long at 11,268, but was also stopped out at 11,220 (-48 points, or $240/contract)

As "the game" turned against me, went day trade short at 11,174 and closed out at 11,145 just prior to the close (+29 points, or $145/contract).

Jeff Bailey : 5/18/2006 7:24:58 PM

Closing Internals found at this Link

Jeff Bailey : 5/18/2006 7:18:37 PM

Didn't see the futures monitor. Marc noted the DELL/AMD news.

Jeff Bailey : 5/18/2006 7:12:05 PM

Today's volatility measures were a surprise to me. I want to capture the SPX option chain, sorted by most active at this Link

Jeff Bailey : 5/18/2006 7:02:31 PM

S&P 500 Index (SPX.X) with same range of retracement as INDU chart (06:30:41) at this Link ... I ran current MONTHLY "Max Pain" theory levels. These will likely change over time.

Marc Eckelberry : 5/18/2006 6:44:22 PM

INTC waking up a bit and NDX futures as well.

Jeff Bailey : 5/18/2006 6:30:41 PM

Dow Industrials (INDU) daily interval chart at this Link ... placing some benchmarks (dollar, 10-year, oil, unleaded and for the future... gold)

I know there has been at least one time where I profiled a "Max Pain" trade and the MARKET did NOT cooperate and finished BELOW the Max Pain level. I can't remember the expiration, but do remember we went into slumber mode for a couple of months.

Marc Eckelberry : 5/18/2006 6:23:53 PM

INTC Exit Point Alert
Long 17.65, raise stop to 17.45.

Marc Eckelberry : 5/18/2006 6:22:54 PM

QQQQ Option Exit Point Alert
Long July 39 calls at 1.60, lower stop to 1.10.

Jeff Bailey : 5/18/2006 6:02:32 PM

Check this out and it may have been noted by somebody else. I'm updating today's NH/NL ratios and I have to go back to October 2005 to find this weak of a reading from the NYSE daily ratio.

Look at the INDU daily interval chart. See that "doji" bottom in October? Now see that "doji" top last week?

Marc Eckelberry : 5/18/2006 6:01:04 PM

The gamble is that this is a blow-off bottom for INTC.

Marc Eckelberry : 5/18/2006 5:58:44 PM

AGGRESSIVE TRADERS ONLY:
INTC Entry Point Alert -
Long INTC after-hours trade at 17.65, stop 17.40.

Marc Eckelberry : 5/18/2006 5:57:16 PM

See future's side for INTC comment. The 200 monthly moving average is right around here (17.67). INTC has only traded belwo that ma during the 2002 crash.

Jeff Bailey : 5/18/2006 5:43:23 PM

Closing U.S. Market Watch found at this Link ... This looks like a "tired market," that lacks cash.

The dollar can't hold a bid, and money moves into Treasuries? Defensive?. There was some Fed commentary today about 50-basis point increase, but if that were the real issue at hand, YIELDS should have jumped.

The work I did on "Max Pain" and inability for any major to show anything toward DAILY Pivot? Now that's tired.

Jeff Bailey : 5/18/2006 4:39:26 PM

Marvell Tech (MRVL) $49.76 -1.19% ... higher at $50.75 (earnings).Reuters Story Link

Jeff Bailey : 5/18/2006 4:14:44 PM

3M (MMM) went out at $84.15 -0.31% ...

Jeff Bailey : 5/18/2006 4:13:52 PM

Will update an action plan for MMM later this evening, but it depends on tomorrow's open. Volatility/premiums aren't the issue, it's all about price now.

Jeff Bailey : 5/18/2006 4:11:01 PM

YM short close out alert 11,145

Jane Fox : 5/18/2006 4:09:45 PM

DAteline WSJ The U.S. Patent and Trademark Office has agreed to reexamine Amazon.com Inc.'s high-profile patent on "one-click" online shopping, after an actor from New Zealand informed the agency of prior inventions in the field.

An examiner for the agency ruled that the reexamination requested by Peter Calveley had raised a "substantial new question of patentability" affecting the patent, according to a document outlining the agency's decision.

The "one-click" patent was granted in 1999 to inventors that include Jeff Bezos, Amazon's chief executive officer. It covers ways that Amazon allows customers to shop without having to enter their shipping and billing information each time they purchase from the company's Web site. The Amazon patent is one of the best-known patents on business methods, which have become a hot topic in recent debates over whether the U.S. patent system should be reformed.

Jane Fox : 5/18/2006 4:08:47 PM

BellSouth sends letter to USA Today demanding that the paper retract a report that the phone company turned over customer calling records to the NSA.

Jeff Bailey : 5/18/2006 4:04:49 PM

Sell program premium ... YM 11,150

Jeff Bailey : 5/18/2006 4:03:30 PM

YM short lower stop alert to 11,161 ... 2-minute chart interval. Just keep lowering to the close above prior bar's high.

Jeff Bailey : 5/18/2006 4:01:33 PM

YM 11,155 here ... low has been 11,152

Jeff Bailey : 5/18/2006 4:00:40 PM

I want to close out this YM short prior to its close. 11,150? or 11,125 looks to be the most we could get at this point.

Jane Fox : 5/18/2006 3:59:35 PM

There are no major economic due reports tomorrow.

Jeff Bailey : 5/18/2006 3:59:32 PM

YM lower stop alert to break even

Jeff Bailey : 5/18/2006 3:51:15 PM

This isn't the kind of "look for the spoos to pull back" action we usually see.

Marc Eckelberry : 5/18/2006 3:51:07 PM

My INTC stop was too tight, we are now right back where we sarted. If you had a bigger stop, cinch up .

Jeff Bailey : 5/18/2006 3:47:47 PM

MMM 84.19 -0.27% ...

Jeff Bailey : 5/18/2006 3:47:18 PM

MRK $35.16 +2.41% ... jumps on some type of VIOX news.

Seems to have sucked the life out of the "big 10" though.

Jeff Bailey : 5/18/2006 3:45:50 PM

YM 11,161 ... lower stop alert to 11,206.

Jeff Bailey : 5/18/2006 3:43:43 PM

YM 11,161

Marc Eckelberry : 5/18/2006 3:42:55 PM

Minor loss on INTC, it was worth a try at triple bottom suport now broken.

Marc Eckelberry : 5/18/2006 3:42:36 PM

INTC Exit Point Alert
-.07.

Jeff Bailey : 5/18/2006 3:42:29 PM

YM short entry alert 11,174

Jeff Bailey : 5/18/2006 3:40:38 PM

Trying to keep my action point for a short far enough below MONTHLY S1, to be short during the spill.

Jeff Bailey : 5/18/2006 3:39:38 PM

Get ready ... YM 11,186

Jeff Bailey : 5/18/2006 3:37:11 PM

My Qcharts has locked up. Tends to happen when the action really picks up.

Jeff Bailey : 5/18/2006 3:35:29 PM

YM 11,204 ... checks back in at WEEKLY S2

Jeff Bailey : 5/18/2006 3:33:05 PM

MMM 84.36 -0.07% ...

Marc Eckelberry : 5/18/2006 3:32:28 PM

INTC Exit Point Alert
Long 18.65, raise stop to 18.58.

Jeff Bailey : 5/18/2006 3:31:50 PM

YM session low has been 1-point above MONTHLY S1 (11,185)

Jeff Bailey : 5/18/2006 3:30:56 PM

YM go short alert ... on a trade at 11,174, stop 11,210, target 11,100

Jeff Bailey : 5/18/2006 3:25:39 PM

YM swing trade long stop alert 11,188

Jeff Bailey : 5/18/2006 3:25:04 PM

VXO.X jumping alert

Jeff Bailey : 5/18/2006 3:23:41 PM

YM 11,198 ... session lows

Marc Eckelberry : 5/18/2006 3:23:26 PM

NQ Exit Point Alert
Long 1602.50, raise stop to 1599.

Marc Eckelberry : 5/18/2006 3:22:49 PM

NQ Exit Point Alert
Lower stop to 1598.50.

Jeff Bailey : 5/18/2006 3:22:22 PM

XOM $60.17 -0.01% ... could present a problem to YM long.

Jeff Bailey : 5/18/2006 3:21:49 PM

FTO $55.92 -2.34% ... getting unloaded.

Jeff Bailey : 5/18/2006 3:20:28 PM

VIX above DAILY Pivot ... NOT looking bullish.

Jeff Bailey : 5/18/2006 3:20:02 PM

03:00 Internals found at this Link

Yesterday's Internals found at this Link

Marc Eckelberry : 5/18/2006 3:19:13 PM

Stops must be set for outside regular hours. This is a quick trade, will move up the stop on a closing bounce.

Marc Eckelberry : 5/18/2006 3:17:40 PM

INTC Entry Point Alert -
Long at 18.65, stop 18.55.

Jeff Bailey : 5/18/2006 3:08:16 PM

YM Swing trade stop adjustment ... lower to 11,188.

Jeff Bailey : 5/18/2006 3:05:18 PM

03:00 Market Watch found at this Link

Jeff Bailey : 5/18/2006 2:41:42 PM

YM 60-minute interval chart at this Link

Jane Fox : 5/18/2006 2:39:02 PM

NASDAQ MOST ACTIVE STOCKS: QQQQ MSFT INTC CSCO ORCL

Jeff Bailey : 5/18/2006 2:36:23 PM

YM 11,235 ... 60-minute interval chart does have its MACD edging above Signal.

Jeff Bailey : 5/18/2006 2:33:15 PM

YM 11,231 ... "they" are going to wait until the end of the day to determine any outcome.

Jeff Bailey : 5/18/2006 2:30:24 PM

NEM's Option Montage at this Link

This one has a "Max Pain" theory look of $53.75.

It is all mathematical theory though.

Are PUT BUYERS/holders on the right side of the this trade? Is the market maker OBLIGATED to take in 2.49 million (sum $52.50 and $55 put open interest) at Friday's close?

If so he/she might have to be SHORT!

Could still rally to expiration, so strategy is just 1/2 position short at this time.

Jeff Bailey : 5/18/2006 2:14:24 PM

Valero (VLO) $59.80 (unch) ... Would love a Friday close at $60.01.

Jeff Bailey : 5/18/2006 2:12:23 PM

YM 11,235 ... downward trend held for 1,2,3,4 times.

Jeff Bailey : 5/18/2006 2:07:01 PM

MMM Option Montage at this Link

Jeff Bailey : 5/18/2006 1:57:26 PM

MMM ... DAILY Pivot retracement and my "5-Mrt" as Linda named it at this Link

Jeff Bailey : 5/18/2006 1:48:07 PM

Check it out ... take a LOWER 5-mrt from yesterday's opening 5-minute interval.

Jeff Bailey : 5/18/2006 1:46:52 PM

Hey... did you slap a 5-mrt on MMM. Take your retracement bracket, anchor 0% at the opening 5-minute lows, then "fit" the 19.1% at the opening 5-minute bar high.

I get 38.2% at $85.07, 50% at $85.52 (overlaps with DAILY R1), 61.8% at $85.96 (overlaps with DAILY 19.1%), 80.9% at $86.69 (overlaps with DAILY R2).

Jeff Bailey : 5/18/2006 1:40:11 PM

MMM $84.61 +0.22% ... session high has been, been, been $84.84 (DAILY Pivot).

Jeff Bailey : 5/18/2006 1:39:03 PM

YM 11,256 .... gets a little action above trend.

Jeff Bailey : 5/18/2006 1:38:30 PM

It is like a chess match ... I'll bet you, right/wrong, there's at least one trade shorting the downward trend on the YM ... COUNTING on the pullback to 02:20 Chicago, or 03:20 PM EDT.

Jeff Bailey : 5/18/2006 1:37:10 PM

See ... my YM day trade target wasn't out of line. Yes.... let it sprint to YM, then let it go side-ways, then let it pull in.

I didn't, or shouldn't have risked weakness much below 11,250 from profiled entry though.

OK, that's cleared up. (done reviewing that blunder)

Jeff Bailey : 5/18/2006 1:34:18 PM

Did you read HL Camp's "option game" theory? What might we look for?

What might we NOT look for? That's DIVERGENCE.

The part that trader's might be al_rt to is the First part ... "It helps if the spoos are dropping...."

Dropping to "where?"

Jeff Bailey : 5/18/2006 1:30:45 PM

YM 5-minute interval chart with very short-term trends established at this Link

Jeff Bailey : 5/18/2006 1:23:09 PM

CNBC's Rick Santelli in his last update mentioned the "coiling" action in the Dow Industrial's intra-day chart and traders are watching it closing.

He's not kidding.

Jeff Bailey : 5/18/2006 1:18:06 PM

01:03 Internals found at this Link ... Check out the TRIN and TRINQ measures from 11:00 to 01:03.

That looks like a "bring them together" action.

Jeff Bailey : 5/18/2006 1:06:07 PM

01:03 Market Watch found at this Link

Jeff Bailey : 5/18/2006 1:02:01 PM

Dow Components at this Link

The "heading" (FOMC Meeting FF = 5.00%), was the then FF rate (now its 5.25%). Sort order was performed PRIOR to the recent FOMC decision to raise rates.

Jeff Bailey : 5/18/2006 12:50:41 PM

Shaking my head on the YM long profile as I update my blotter.

Next time I suggest we RISK 58-points to make 27-points. Tell me I'm an idiot and you're not here for that type of risk/reward.

Either that, or use a tighter stop based on my target.

Marc Eckelberry : 5/18/2006 12:46:52 PM

QQQQ option Exit Point Alert
QQQQ 39 July calls long at 1.60, stop 1.20, gtc sell to close conditional underlying at 40.45.

Jeff Bailey : 5/18/2006 12:43:26 PM

McDonald's (MCD) $34.81 +0.72% ...

Jeff Bailey : 5/18/2006 12:42:49 PM

Burger King (BKC) $18.07 +6.17% ... per Jane's 12:30:04.

New IPO today.

Jeff Bailey : 5/18/2006 12:34:14 PM

Traders that are thinking of trading the StreetTracks Gold (GLD) $67.91 -0.35% ... I would urge you to check with your accountant/tax advisor regarding the treatment of gains/losses. Capital gain/loss, or collectors gain/loss? Here in the U.S., gold is considered a collectible.

Jane Fox : 5/18/2006 12:30:04 PM

BURGER KING VOLUME HITS 20M AS NO. 2 VOLUME ON NYSE

Jeff Bailey : 5/18/2006 12:28:55 PM

NEM $51.18 -1.59% ... stocks tend to see the move prior to the commodity.

NEM's WEEKLY S2 $51.99.

Jeff Bailey : 5/18/2006 12:27:07 PM

June Gold (gc06m) 683 -1.27% ... Link

Jane Fox : 5/18/2006 12:26:09 PM

Philly Fed index shows modest growth in factory sector -

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

Swing trade short 1/2 position alert ... for Newmont Mining (NEM) $51.57 -0.84% here, stop $54, target $47.00.

Jeff Bailey : 5/18/2006 12:10:02 PM

MMM ... session highs 84.71 +0.34% ...

Jeff Bailey : 5/18/2006 12:09:12 PM

YM 11,255

Jeff Bailey : 5/18/2006 12:08:39 PM

Looking at the DIA May $112 Puts (DIA-QH) ... showing 1,986 contracts traded on CBOE so far, dntick=98 and uptick=172.

Again... at higher premiums, I would think SELLING, not buying.

This action is "counter" to what I think would be happening.

If somebody is BIG and determined to keep dumping, or its NAKED and not interested in taking delivery, then buying of that contract needs to be watched.

Jane Fox : 5/18/2006 12:06:03 PM

More reasons to worry about the consumer: Ruth Simon writes in this morning's Wall Street Journal that more people are having trouble keeping up with monthly mortgage payments. "Recent studies by several Wall Street firms point to rising delinquency rates on home mortgages that were issued last year, a period when lenders were pushing hard to keep business going as interest rates and home prices were rising," she writes. And even though mortgage delinquencies remain low by historical standards, "experts worry the trend could worsen."

Jane Fox : 5/18/2006 12:04:11 PM

From WSJ MarketBeat Inflation is on everyone's mind after yesterday's consumer-price inflation report. James Picerno, who writes the Capital Spectator, says "it remains to be seen if April proves to be a turning point on the inflation front. There have been scares about pricing pressures before, only to watch the threat evaporate in the optimism of a renewed bull market in stocks and bonds. Will it be different this time?"

Jeff Bailey : 5/18/2006 12:04:04 PM

Let's check the DIA and even the OEX option montages.

Jeff Bailey : 5/18/2006 12:03:28 PM

Did get an upside alert on the VXO.X at WEEKLY R2 (15.37). VXO slipping back at 15.13 now.

Jeff Bailey : 5/18/2006 11:39:10 AM

I'm going to rate my day trade entry point as "poor." My thought was, either go long there, or possibly miss out on the sprint to DAILY Pivot.

Jeff Bailey : 5/18/2006 11:34:19 AM

YM day trader's notes/thoughts : with YM now 11,254.

Probably don't need to "chase a gap higher" after a drubbing prior day.

Jeff Bailey : 5/18/2006 11:30:53 AM

11:00 Internals found at this Link

Jeff Bailey : 5/18/2006 11:14:22 AM

Frontier Oil (FTO) $56.96 -0.50% ... slips below yesterday's low. WEEKLY S2 $55.95

Jeff Bailey : 5/18/2006 11:08:54 AM

Downside to WEEKLY S2 again.

Jeff Bailey : 5/18/2006 11:08:19 AM

YM Day trade Stop alert 11,220

Jeff Bailey : 5/18/2006 11:01:53 AM

11:00 Market Watch found at this Link

Jeff Bailey : 5/18/2006 10:50:10 AM

BIX.X 378.38 -0.20% ...

Jeff Bailey : 5/18/2006 10:47:51 AM

What do you think? Need MMM $85 to get YM above 11,275?

Jeff Bailey : 5/18/2006 10:46:16 AM

MMM 5-minute interval chart with Daily Pivot Retracement at this Link

Jeff Bailey : 5/18/2006 10:38:30 AM

MMM ... did you place a DAILY Pivot retracement on MMM?

Jeff Bailey : 5/18/2006 10:37:25 AM

MMM $84.51 +0.10% ... session high so far $84.65.

I think traders see the possibility for the rally "op-ex manipulation" higher, but so far, the levels for confirmation haven't unfolded.

MMM above $85 would be one of them.

Jeff Bailey : 5/18/2006 10:35:28 AM

XOM $60.23 +0.08% ...

Jeff Bailey : 5/18/2006 10:34:28 AM

I will be more bald than I'm getting if YM trades 11,250 the entire day.

Jeff Bailey : 5/18/2006 10:32:46 AM

YM 11,256 ... retraces 61.8% of "Bernanke" intra-day decline.

Jeff Bailey : 5/18/2006 10:31:27 AM

EIA Nat. Gas Storage Table Link

Jane Fox : 5/18/2006 10:21:29 AM

Dateline WSJ The bond market is taking a distinctly different view about the economy's prospects than it did just a few weeks ago.

A recent string of relatively strong economic data -- and some worrying signs about inflation that were amplified yesterday -- are helping to drive up long-term interest rates more than short-term rates, something economists call a steepening yield curve.

Yesterday's market action was a case in point. The Labor Department said its consumer-price index was up 3.5% from a year ago and the closely watched "core" consumer-price index, which excludes volatile food and energy items, was up 2.3% from a year ago, testing the tolerance of Federal Reserve policy makers whose goal is to keep inflation low.

Long-term bond investors are especially sensitive to inflation because it eats away at their returns. So reports like the CPI numbers generally cause selling, which pushes down bond prices and pushes up their yield.

Jeff Bailey : 5/18/2006 10:19:38 AM

YM 11,241

Jeff Bailey : 5/18/2006 10:18:31 AM

YM 11,234 ... regular session low ... 11,223 (will my stop adjustments hold?)

Jeff Bailey : 5/18/2006 10:15:05 AM

C'mon ... YM 11,230

Jeff Bailey : 5/18/2006 10:11:57 AM

Current OPEN MM Profiles found at this Link

Jane Fox : 5/18/2006 10:09:18 AM

Dateline MarketWatch The U.S. economy is cooling off, the Conference Board said Thursday. The index of leading economic indicators fell 0.1% in April, with three of the 10 indicators improving, the group said. The coincident index rose 0.2%, while the lagging index rose 0.3%. "With the price of oil still around $70, and with interest rates slowly rising, the economy isn't likely to be picking up steam," said Ken Goldstein, an economist for the private economic research group. In the past six months, the leading index is up 1.5%. "Economic growth should continue moderately in the near term" the group said. The index rose a revised 0.4% in March. Economists expected a 0.1% gain in April.

Jeff Bailey : 5/18/2006 10:05:50 AM

10:03 Market Watch found at this Link

Jane Fox : 5/18/2006 10:05:02 AM

NASDAQ MOST ACTIVE STOCKS: MSFT JDSU CSCO INTC SUNW

Jane Fox : 5/18/2006 10:04:12 AM

NYSE MOST ACTIVE STOCKS: NBR LU TWX PFE Q

Jeff Bailey : 5/18/2006 10:02:55 AM

Taders of the MNZ-EQ should have their sell to close order placed at $0.70.

If this is a primary trade you can keep an eye on until Friday's close, then feel free. Could go more than $0.70, but that's my "manipulation game" target.

Jane Fox : 5/18/2006 10:02:44 AM

ECONOMY NOT PICKING UP STEAM: CONFERENCE BOARD

APRIL LAGGING INDICATORS RIS 0.3%

APRIL COINCIDENT INDICATORS RISE 0.2%

APRIL LEADING ECONOMIC INDICATORS FALL 0.1%

Jeff Bailey : 5/18/2006 9:59:39 AM

Little "pop" in MMM $84.43 +0.05% ...

Jeff Bailey : 5/18/2006 9:52:48 AM

YM 11,234

Jeff Bailey : 5/18/2006 9:52:03 AM

I hadn't counted on Bernanke speaking, which might have brought some trader caution.

Jane Fox : 5/18/2006 9:43:41 AM

BURGER KING IPO OPENS AT $18, $1 ABOVE PRICE

Jeff Bailey : 5/18/2006 9:43:37 AM

MMM $84.00 -0.50% .... MNQ-EQ are $0.20 x $0.25.

Jeff Bailey : 5/18/2006 9:41:35 AM

Filled alert at 09:32:07 for five (5) of the MNQ-EQ

Jeff Bailey : 5/18/2006 9:35:25 AM

YM day trade long alert 11,268 here, stop 11,220, target 11,295

Jeff Bailey : 5/18/2006 9:33:49 AM

Program Trading Levels for Thursday ... HL Camp & Company has their computers set for program buying at $+4.86 and set for program selling at $+1.78.

Jeff Bailey : 5/18/2006 9:27:16 AM

Currently have a MMM May $85 Call (MNZ-EQ) open order to buy five (5) of these calls for $0.25, no stop, target $0.70.

MMM indicated at $85.37. Let's keep our finger's crossed for a spike down in volatility this morning, MMM to hang around $85.00 if we're going to get filled.

Jeff Bailey : 5/18/2006 9:20:02 AM

YM 5-minute intervals (all sessions) at this Link

Jeff Bailey : 5/18/2006 9:13:59 AM

Swing trade long alert the YM 11,261 here, stop 11,200, target 11,360

(same signal/trade as Futures Monitor as I forgot to switch back to Market Monitor)

Jane Fox : 5/18/2006 9:11:00 AM

Dateline WSJ Soaring housing prices and aggressive mortgage lending have saddled home buyers with ever greater levels of debt, and early signs are now emerging that more people are unable to keep up with their monthly mortgage payments.

Recent studies by several Wall Street firms point to rising delinquency rates on home mortgages that were issued last year, a period when lenders were pushing hard to keep business going as interest rates and home prices were rising. The increase in late loan payments comes as more buyers have been forced to stretch financially to afford ever costlier houses in recent years, and many homeowners have increased debt by tapping their home's equity. Analysts say that laxer lending standards on the part of mortgage lenders also resulted in higher debt loads, which some borrowers are now struggling to repay.

To be sure, mortgage delinquencies remain low by historical standards. But experts worry the trend could worsen. With the housing market cooling and interest rates rising, "by the end of the year you could see a substantial increase in delinquency rates" for mortgages, says Thomas Lawler, a former Fannie Mae economist and now a private housing consultant.

Jane Fox : 5/18/2006 9:05:10 AM

Some daytraders were almost giddy with the fact that the TRIN hit 2.00 yesterday. There is a rule of thumb out there that if the TRIN hits +2.00 go long the market. As you can see we did get a small retrace when the TRIN hit 2.00. But the granddaddy is if the TRIN CLOSES at 2.00 (it closed at 1.99) go long the market at the close and exit the position at the open. Looking at the overnight charts that would have been a pretty good trade. Link

Jane Fox : 5/18/2006 9:00:25 AM

Reliance Steel (RS) declares 2-for-1 stock split; ups div by 20%

Jane Fox : 5/18/2006 8:47:19 AM

In the week ending May 13, the advance figure for seasonally adjusted initial claims was 367,000, an increase of 42,000 from the previous week's revised figure of 325,000. The 4-week moving average was 333,250, an increase of 15,750 from the previous week's revised average of 317,500.

The advance seasonally adjusted insured unemployment rate was 1.8 percent for the week ending May 6, unchanged from the prior week's unrevised rate of 1.8 percent.

The advance number for seasonally adjusted insured unemployment during the week ending May 6 was 2,389,000, an increase of 8,000 from the preceding week's revised level of 2,381,000. The 4-week moving average was 2,413,000, a decrease of 9,500 from the preceding week's revised average of 2,422,500.

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