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Jeff Bailey : 5/25/2006 2:59:26 AM

Here is a 15-minute interval chart of YM dating back to the 5/11/06 trade Link

Jeff Bailey : 5/25/2006 2:52:29 AM

YM 5-minute interval chart with Thursday's DAILY Pivot Retracement at this Link

Suggest clicking through 10-min, 15-min, 30-min intervals. 15-min interval chart and 200-pd SMA may be very influencial. When YM broke below it on 5/11/06 at MONTHLY R1, "that was it."

On 15-minute interval chart, 200-pd still trending lower at, at, at.... 11,198.98.

Jeff Bailey : 5/25/2006 2:25:23 AM

YM Pivot Matrix for Thursday at this Link

I'm making a note that Thursday's DAILY Pivot Levels are almost identical to those found for 05/23/06.

OK ... so when I look at the for 05/24/06 I've got a feeling/observation of how the YM traded on 05/23/06 by looking at the high/low (11,226/11,030). Funky close late Tuesday had the YM 31 pts BELOW DAILY S1. Tuesday's high breached R1 by 26 points.

Hint ... be willing to treat DAILY R1s as resistance for now. So far this week, even in overnight trade, the YM hasn't wanted to trade WEEKLY S1. That's a "max target" for shorts, and a "downside risk assessment" for any longs at this point. That's my mindset headed into Thursday's trade.

I outline some "strength: what to look for" with the Index Pivot Matrix regarding the dx00y, TNX.X and BIX.X.

Jeff Bailey : 5/25/2006 2:05:41 AM

YM recap of Wednesday's Trade 5-minute interval chart at this Link

Jeff Bailey : 5/25/2006 1:56:52 AM

YM is down 5 pts at 11,134.

Jeff Bailey : 5/25/2006 1:53:11 AM

Dollar Index (dx00y) 85.09, so up fractionally from Wednesday's 84.95 03:00 PM EDT close.

Jeff Bailey : 5/25/2006 1:51:56 AM

July Copper (hg06n) is down 7 cents, or -1.92% (this is the active volume month contract)

June Gold (gc06m) is up $6.80, or +1.06% at $644.00.

Jeff Bailey : 5/25/2006 1:31:02 AM

Dorsey's (BPNDX) (per 01:27:01 post) at this Link

Jeff Bailey : 5/25/2006 1:29:58 AM

Dorsey/Wright's NASDAQ-100 Bullish % (BPNDX) fell 4%, so net loss of 4 stocks to PnF sell signals today (AKAM, ALTR, CTSH, QCOM).

StockCharts.com's $BPNDX Link





(I believe Dorsey's chart is correct as I do not show QCOM ever having traded $45.00 in February (after red 2). QCOM did trade a low of $45.08 on 02/07/06, but not $45.00. QCOM does pay a $0.48/year dividend and StockCharts.com does "penalize" a stock's PnF chart for paying a dividend.

Jeff Bailey : 5/25/2006 12:41:35 AM

Mid-April to Current Sector Bell Curve at this Link

Jeff Bailey : 5/25/2006 12:41:27 AM

05/19 to 5/24 Sector Bell Curve with SPX.X benchmarks at this Link

I received a question earlier this week regarding The StockTrader's Almanac "Sector Index Seasonality" study.

What happened to the bullish seasonality for the XCI (computer tech), MSH (high-tech 35), RXP (health products) and IIX (Inter@ctive Internet)?

Now, I'm reading from the 2006 hardcover issue, page 80 about the "ETF Strategy" and "Almanac Investor ETF Trading Rules."

The above sector bell curve is an update to Monday's Market Wrap, so you can see where we've come, or fallen to as the case may be.

But the trader's question regarding "what happened to the supposed seasonal bullishness" can also be addressed.

One of the Almanac's "rules" was ... Seasonalities don't always repeat, and if an ETF looks too rich, it probably is.

I (Jeff Bailey) might also say ... "and if an ETF has poor field position and is overbought, or shifting to the left, then be cautious on a bullish play."

But tonight, when I was posting my Market Monitor Profiles I did note how YHOO Link and GOOG Link were showing gains for the past 5-days.

Is there some seasonality left, or just now beginning to show up for the IIX, or INternET?

As other sectors "shift to the left" both the COMPuter and INternET sector bullish % are where they were as of Friday's position.

Marc Eckelberry : 5/24/2006 11:24:04 PM

Cramer must have been talking about energy stocks, because some solid techs with good earnings like GOOG, AAPL and TXN were bought today and the dogs being sold (INTC). Im not sure I follow his reasoning.

Jeff Bailey : 5/24/2006 10:53:50 PM

Index Pivot Matrix for Thursday at this Link ... I've outlined a "strength...what too look for with the BIX.X."

DAILY R1/WEEKLY Pivot. If that's cleared, then DAILY R2/MONTHLY Pivot.

If the majors were to pull into their daily pivot early, but the BIX.X makes a move higher above its DAILY Pivot, that's a "first sign."

Today's comments from James Cramer while the markets were still trading. He made an interesting observation of how companies that had recently reported great quarters were not finding a lot of buying today, but it was the "garbage" stocks that had been drilled into the ground after terrible quarters, etc., etc., that traders were throwing bullish money at today.

Bullish money? Or the beginning of short covering? What has been the "smart money" the past couple of weeks? Short, or long? I'd have to day the "short money."

If the shorts are covering, then be al_rt.

Marc Eckelberry : 5/24/2006 10:33:35 PM

Stopped on INTC long for +.20.=, but the new Woodcrest just showed in tests that it is faster than AMD server chips. The turn around for INTC is near, and I while be playing that one. Link

OI Technical Staff : 5/24/2006 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 : 5/24/2006 6:32:09 PM

EQUITIES= (+/-) Dollar, (+/-) Bonds, (+/-) Oil (see Monday's Wrap).

Today's Index Pivot Matrix Link

Is/was the Bird Flu news a positive/bullish development for equities?

It may well have brought on some buyers of the DOLLAR, so a "plus" today.

Yes, perhaps DEFENSIVE buying of Treasuries, sucks up the cash, as 10-year YIELD falls "off the matrix" to WEEKLY S1. 10 years! 10 years! at 4.988% with FF currently 5.00%.

For a rebound, WATCH for YIELD to snap back higher, dollar STRENGTH to continue, and WATCH THOSE BANKS!

PS. There's also been a little bit of money coming out of commododities of late.

Jeff Bailey : 5/24/2006 5:56:07 PM

SPX Most Active Options found at this Link ... QCharts probably has one of the worst "Title" displays, but the Symbol and Strike are correct.

Similar VIX.X action today as found on Monday. Now monitor for SIMILARITY to the past, or DIVERGENCE!

Lots of PUTS at the top of the list and it wasn't all BUYING!

Jeff Bailey : 5/24/2006 5:35:09 PM

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

Today's Activity


Bearish swing trade close out the Phelps Dodge (PD) short early this morning at $82.10 ($+2.92, or +3.43%) on its way to $85.00.

Swing trade short 1/2 position in shares of Bema Gold (BGO) at the bid of $4.74. Stop currently $4.96, targeting $4.25.

YM Futures

I did not profile a YM trade today.

Jeff Bailey : 5/24/2006 4:55:40 PM

Closing Internals found at this Link

Jeff Bailey : 5/24/2006 4:52:14 PM

S&P 500 a/d 242:224 with NH/NL 3:19

Jeff Bailey : 5/24/2006 4:50:40 PM

Jane! Your RUT.X a/d finished 932:753

Jeff Bailey : 5/24/2006 4:36:36 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 5/24/2006 4:24:15 PM

BIIIIG volume in the QQQQ today. Link Bulls might have coughed up the fur ball today?

Nasdaq-100 Bullish % ($BPNDX) Link is nearing similar levels of RISK found in late April 2004.

Jeff Bailey : 5/24/2006 4:01:40 PM

June Gold (gc06m) updated from 5/18 at this Link

Jane Fox : 5/24/2006 3:58:42 PM

BetCRIS.com has closed the odds for betting on the Enron verdict, and if a sportsbook is to be believed, things don't look good for Messrs. Lay and Skilling.

BetCRIS closed the betting at the following odds:

Will Kenneth Lay be convicted?
Yes 1 to 80
No 1.4 to 1

Will Jeff Skilling be convicted?
Yes 1 to 100
No 1.5 to 1

That means you'd have to bet $80 to make a buck betting on Lay conviction; $100 to win $1 wagering on a Skilling guilty verdict.

Jeff Bailey : 5/24/2006 3:44:09 PM

BGO $4.69 -2.69% ... off its lows of $4.55.

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

Look at Phelpsy (PD) $82.29 -0.92% "battle back".

Yes it is more of a copper stock, but GOLD/Copper seem to be playing off each other.

Jane Fox : 5/24/2006 3:41:15 PM

Tomorrow's Economic reports include:

8:30a.m. Initial Jobless Claims For May 21 Wk. Consensus: -52K. Previous: +42K.

8:30a.m. First-Quarter Preliminary GDP. Consensus: +5.8%. Previous: +4.8%.

10a.m. April Conference Board Help-Wanted Index. Previous: 38.

10a.m. April Existing Home Sales. Consensus: -2.0%. Previous: +0.3%.

11a.m. May Kansas City Fed Mfg Index Previous: 17

Jeff Bailey : 5/24/2006 3:40:19 PM

I tell you what ... this intra-day action in the various miners really hedges on June Gold holding 635. From a retracement low of $500 to recent settlement highs, 38.2% is 636.

Jane Fox : 5/24/2006 3:38:34 PM

DAteline WSJ Internet phone service provider Vonage Holdings Corp.'s initial public offering encountered shareholder static Wednesday morning, and appeared headed for the worst IPO debut in two years.

Vonage's stock opened at $17 a share on the New York Stock Exchange, flat with its initial public offering price, and declined from there. It was trading recently at $14.73 a share, down 13%

If the stock's losses remain at this level through the close of trading, it will be the worst IPO debut since nanotechnology firm Lumera Corp., whose stock lost 13.5% of its value on its first day of trading in 2004, according to data tracker Thomson Financial.

Jeff Bailey : 5/24/2006 3:22:59 PM

Canadian Finance Minister (headlines)

Economy Is 'Rock Solid'

Govt Has 'Iron Commitment' To Balanced Budget

Global Imbalances 'Problem All Govts Must Solve'

Carefully Watching Commodity Price Swings

CAD Has 'Borne Brunt' Of USD Declines

Jane Fox : 5/24/2006 3:18:17 PM

HONG KONG (AP) -- Bank of China Ltd. on Wednesday priced its Hong Kong initial public offering near the top of the expected range, raising $9.7 billion in the world's biggest stock offering since 2000, despite the recent turmoil in Asian stock markets.

Also Wednesday, Saudi Prince Alwaleed's company offered to buy a $2 billion stake in the bank. The offer covers a 2.7 percent stake, according to a statement from Prince Alwaleed's Al Azizia Commercial Investment Co.

China's second-largest bank by assets sold 25.57 billion shares, or about 10.5 percent of its enlarged share capital, for 2.95 Hong Kong dollars (38 U.S. cents) per share, according to a person familiar with the deal.

Jeff Bailey : 5/24/2006 3:14:59 PM

03:00 Internals found at this Link

Jeff Bailey : 5/24/2006 3:02:20 PM

03:00 Market Watch found at this Link

Jeff Bailey : 5/24/2006 2:32:30 PM

BGO $4.60 -4.56% ... it's 02:00 PM EDT trade was $4.65.

Jeff Bailey : 5/24/2006 2:30:59 PM

June Gold (gc06m) settled $637.50 ...

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

Brazil Stocks Fall More Than 3%, Real Plunges on Volatility

Jeff Bailey : 5/24/2006 2:23:09 PM

UK Official "Good Progress" In Talks On Iran.

Jeff Bailey : 5/24/2006 2:22:32 PM

Venezuela's Chavez Says Will Buy Russion Warplanes.

Jane Fox : 5/24/2006 2:16:26 PM




Jane Fox : 5/24/2006 2:15:24 PM

Here is a little analysis from Linda The SOX is headed up to retest the triangle trendline it broke this morning, so I'm watching that and the five-minute 100-ema that keeps kicking it back to see how strong the SOX bounce is. I won't believe it's much of anything until the SOX gets above and stays above the five-minute 100/130-ema's at 465.74 and 466.93.

Thanks Linda we always love hearing from you.

Tab Gilles : 5/24/2006 2:01:48 PM

Weekly EIA Report Link

Jeff Bailey : 5/24/2006 1:58:06 PM

Mirroring Nikkei's trade. Or so if feels.

Jeff Bailey : 5/24/2006 1:57:20 PM

SOX 461.85 +0.05% ... gets back to green.

Jane Fox : 5/24/2006 1:43:57 PM


Jeff Bailey : 5/24/2006 1:38:15 PM

PTR-RS are $0.90 x $1.20

Jeff Bailey : 5/24/2006 1:37:24 PM

Frontier Oil (FTO) $50.92 -3.92% ...

Petrochina (PTR) $105.28 -4.55% ...

Jeff Bailey : 5/24/2006 1:31:51 PM

HUI.X alert 306.44 -5.64% ... trades that 80.9% retracement.(03/09/06 relative low close to recent 05/10/06 high close)

Jane Fox : 5/24/2006 1:30:37 PM

All markets except NQ have now lost previous day lows.

Jeff Bailey : 5/24/2006 1:29:24 PM

VIX alert 19.26 ...

Jane Fox : 5/24/2006 1:28:01 PM

Dateline WSJ China Mobile Communications Corp. is near a $5.3 billion agreement to acquire Millicom International Cellular SA of Luxembourg, operator of mobile-telephone services in many of the world's poorest nations, in what would be the biggest-ever overseas acquisition by any Chinese company.

The Chinese company is in the final stages of inking an agreement to buy Nasdaq-listed Millicom for $48 a share in cash, according to people familiar with the situation. The deal still hinges on several layers of administrative approvals in China. A deal is likely to be announced within days, these people said.

Jane Fox : 5/24/2006 1:26:15 PM

AngioDynamics Inc., (ANGO) up $1.73 at $25.80 The medical device maker sold 2.4 million shares at $24.07 apiece.

Seattle Genetics Inc., (SGEN) up 28 cents at $4.30 Banc of America upgraded the biotechnology company to "buy," saying the recent pullback in shares offers a buying opportunity.

Jane Fox : 5/24/2006 1:25:00 PM

Medtronic Inc., (MDT) up $1.51 at $49.46 A Morgan Stanley analyst said the maker of cardiac implants should report upbeat quarterly and issue positive future guidance.

Payless Shoesource Inc., (PSS) up $3.14 at $24.02 The shoe retailer reported a 19 percent rise in earnings and said it bought the American Eagle shoe brand.

Polo Ralph Lauren Corp., (RL) up $1.82 at $56.17 The clothing designer said it will discontinue its Polo Jeans brand to expand its denim line across other global brands.

Jeff Bailey : 5/24/2006 1:18:25 PM

01:00 Internals found at this Link

Jane Fox : 5/24/2006 1:15:24 PM

NEW YORK (AP) -- Shares of Vonage Holdings Corp., the Internet telephone pioneer, dropped in their trading debut Wednesday after pricing late Tuesday at $17 a share, the middle of the expected range.

Shares of Vonage fell 70 cents, or 4 percent, to $16.30 in early trading on the New York Stock Exchange. They trade under the symbol "VG."

In earlier regulatory filings, Vonage said it had expected to sell the 31.25 million IPO shares for $16 to $18 each. At the final price, the IPO is worth $531 million, making it one of the larger launches this year.

Jeff Bailey : 5/24/2006 1:03:02 PM

01:00 Market Watch found at this Link

Jeff Bailey : 5/24/2006 12:58:38 PM

Initial time stamp on the Prince Alwaleed news was 12:37 PM EDT.

Jeff Bailey : 5/24/2006 12:57:16 PM

Prince Alwaleed's Company Offers To Buy Bank of China Stake

DJ- Alwaleed Co's Bank of China Stake Would Be $2 billion, or 2.7%

Bank of China Stake "Strategic"

Jeff Bailey : 5/24/2006 12:49:03 PM

BGO $4.69 -2.69% ... looks "expensive" with DAILY S2 at $4.62.

Jeff Bailey : 5/24/2006 12:48:04 PM

Phelps Dodge (PD) $80.50 -3.08% ... this was initial bearish target from yesterday's short.

Jeff Bailey : 5/24/2006 12:44:59 PM

SOX.X 460.06 -0.34% ... darts to fresh lows of the week.

Jeff Bailey : 5/24/2006 12:44:09 PM

Sell Program Premium ... SPX 1,251.59 : YM 11,091

Jeff Bailey : 5/24/2006 12:41:33 PM

Newmont Mining (NEM) $49.32 -3.61% ... probes morning low of $49.30.

Jeff Bailey : 5/24/2006 12:34:58 PM

Kroszner ... Reuters story Link

Jeff Bailey : 5/24/2006 12:33:24 PM

I'm not hearing anything here that hasn't been said the past couple of years.

Jeff Bailey : 5/24/2006 12:32:05 PM

Fed's Kroszner (update) Shouldn't Overreact To One Piece of Economic Data

Jeff Bailey : 5/24/2006 12:30:39 PM

Fed's Kroszner (update) Must Stay "Vigilant" on Inflation Expectations

Jeff Bailey : 5/24/2006 12:29:41 PM

YM 11,114

Jeff Bailey : 5/24/2006 12:29:17 PM

Fed's Kroszner (headlines) DJ- Uncertainty On How Productivity Is Measured

Economic Growth Likely To Moderate

Must Take Into Account "Unpredictable Lags"

Jeff Bailey : 5/24/2006 12:25:10 PM

Phelps Dodge (PD) $81.49 -1.89% ... wild morning trade for "copper hoppers."

Jeff Bailey : 5/24/2006 12:03:31 PM

Current OPEN MM Profiles found at this Link

Jane Fox : 5/24/2006 11:43:47 AM


Jane Fox : 5/24/2006 11:43:19 AM


Jane Fox : 5/24/2006 11:37:16 AM

Salton, Inc. (NYSE:SFP) today announced that it has been notified by the New York Stock Exchange (NYSE) that it is not in compliance with the NYSE's continued listing standards. Salton is considered "below criteria" by the NYSE because over a consecutive 30 day trading period, its total market capitalization and its shareholders' equity were each less than $75 million.

Jane Fox : 5/24/2006 11:35:42 AM

Salton (SKP) tops NYSE percentage decliners list

Jeff Bailey : 5/24/2006 11:29:21 AM

Swing trade sell short alert ... 1/2 position of Bema Gold (BGO) $4.74 here, stop $4.96, target $4.25.

Jeff Bailey : 5/24/2006 11:26:00 AM

11:00 Internals found at this Link

Jeff Bailey : 5/24/2006 11:02:29 AM

11:00 Market Watch found at this Link

Jeff Bailey : 5/24/2006 10:54:45 AM

Frontier Oil (FTO) $53.55 +1.03% Link ...

Petrochina (PTR) $109.02 -1.16% Link ...

Jeff Bailey : 5/24/2006 10:52:32 AM

Nikkei-225 ($NIKK) had a wild session. Up 308 points at 15,907 Link

Jeff Bailey : 5/24/2006 10:47:53 AM

EIA Weekly Gross Inputs, Refinery Op. Capacity, Pct. Utilzation Table found at this Link

Jane Fox : 5/24/2006 10:46:20 AM


Jeff Bailey : 5/24/2006 10:41:30 AM

Percent Utilization edged down to 89.68% from 89.81%.

Jeff Bailey : 5/24/2006 10:40:44 AM

Gross Inputs fell a notably 234,000 barrels/day

Jeff Bailey : 5/24/2006 10:38:38 AM

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

Jane Fox : 5/24/2006 10:38:01 AM

Dateline Marketwatch U.S. new home sales rose 4.9% in April to 1.20 million units, the second straight monthly increase and the highest level of the year, the Commerce Department estimated Wednesday. The rise was unexpected. Economists expected sales to fall to 1.15 million given the general weakness in the housing market. The inventory of unsold homes on the market rose by 2.4% to 565,000, representing a 5.8-month supply at the April sales pace, down from 6.0 in March. The median price of a new sold home rose 2.8% in April to $238,500 from the previous month. Median prices are up just 0.9% in the past year.

Jane Fox : 5/24/2006 10:36:37 AM





April new home sales up 4.9% to 1.20 mln units -

Jeff Bailey : 5/24/2006 10:33:24 AM

Distillate Inventory up a sharp 2.47 million

Jeff Bailey : 5/24/2006 10:32:23 AM

Unleaded Inventory up 2.1 million

Jeff Bailey : 5/24/2006 10:31:49 AM

Crude Oil Inventory down a heft 2.99 million barrels.

Jeff Bailey : 5/24/2006 10:29:58 AM

I didn't catch the exact numbers, but consensus looking for a draw in crude, build in unleaded.

Jeff Bailey : 5/24/2006 10:28:40 AM

EIA data due out in less than 2 minutes.

Jeff Bailey : 5/24/2006 10:25:53 AM

Current OPEN MM Profiles at this Link

Jane Fox : 5/24/2006 10:23:54 AM

This is pretty cool FXE Receives Top ETF Award at the 2006 Global ETF Awards(R) Dinner and Workshop

Rydex Investments continues to reinforce its reputation for driving change in the financial industry, announcing today that it received the "Most Innovative ETF Award for the Americas" at the 2006 Global Exchange Traded Fund (ETF) AwardsB. Dinner and Workshop held April 20 in New York City. The firm received the Global ETF award for Euro CurrencyShares(SM) (NYSE: FXE), the premier currency-based exchange traded product, which has garnered over $700 million in assets since its December 2005 inception.

Euro CurrencyShares aims to overcome some of the logistical and cost barriers historically associated with entry into the currency market by offering investors an opportunity to participate through a packaged investment. Each Euro CurrencyShares represents approximately 100 euro.

Jane Fox : 5/24/2006 10:21:17 AM

HOUSTON (AP) -- Jurors in the retrial of two former executives from Enron Corp.'s defunct broadband unit resumed deliberations Wednesday as another federal panel continued deliberating the fates of their former bosses, company founder Kenneth Lay and onetime Chief Executive Jeffrey Skilling.

The jury in the broadband case is considering the fraud and conspiracy case of the unit's former finance chief Kevin Howard and in-house accountant Michael Krautz. The panel received the case late Monday, and finished its first full day of talks on Tuesday without reaching a verdict.

Jeff Bailey : 5/24/2006 10:17:54 AM

BioCryst (BCRX) $13.69 +15.93% Link ... has been probing WEEKLY R2 ($13.73) all morning.

Jeff Bailey : 5/24/2006 10:08:00 AM

Just about to yesterday's Bird Flu level for the YM.

One could say ... "No harm. No fowl!"

Jeff Bailey : 5/24/2006 10:06:47 AM

Sell Program Premium SPX 1,260.76 : YM 11,156

Marc Eckelberry : 5/24/2006 10:06:02 AM

ADVDEC limes are still tame. I will exit and catch a pullback.

Marc Eckelberry : 5/24/2006 10:05:33 AM


Jeff Bailey : 5/24/2006 10:02:52 AM

10:00 Market Watch found at this Link

Jane Fox : 5/24/2006 10:02:50 AM

VIX is falling and confirming ES's new daily high.

Marc Eckelberry : 5/24/2006 10:00:03 AM

One more dip to 1575? Stop is at 1572, we have nothing to lose now.

Marc Eckelberry : 5/24/2006 9:59:21 AM

INTC Exit Point Alert -
INTC long 17.65, raise stop back up to 17.85.

Jeff Bailey : 5/24/2006 9:58:28 AM

SOX.X 469.06 +1.62% ... sector winner early.

Jeff Bailey : 5/24/2006 9:50:51 AM

Phelps Dodge (PD) $84.59 +1.84% ... has caught fire.

Jeff Bailey : 5/24/2006 9:43:18 AM

5-year YIELD ($FVX.X) plunging 6.0 bp to 4.908%.

Jeff Bailey : 5/24/2006 9:41:07 AM

Pacholder High Yield (PHF) $9.64 +1.04% ... sets up for test of 52-week high! I sold a decent size position back in April under the $9.50 level. Miss that hefty monthly dividend from this closed end junk bond fund.

Jeff Bailey : 5/24/2006 9:38:10 AM

June Copper (hg06m) $3.71 -6.54% ... still well above Monday's lows of $3.45.

Jane Fox : 5/24/2006 9:35:40 AM

AD line is -1122 and Ad volume below 0 so the bears rule again today.

Jeff Bailey : 5/24/2006 9:35:13 AM

Bearish swing trade stopped alert for Phelps Dodge (PD) $82.10

Jeff Bailey : 5/24/2006 9:32:38 AM

Phelps Dodge (PD) $81.75 -1.57% .... session high has been $82.00.

Bearish stop is $82.10.

Jeff Bailey : 5/24/2006 9:21:10 AM

Swing trade short lower stop alert on Phelps Dodge (PD) to $82.10.

PD $81.00 x $81.40 with pre-market low of $80.90.

Jane Fox : 5/24/2006 9:07:20 AM

Vontage IPO will start trading today.

Jane Fox : 5/24/2006 8:40:52 AM

Dateline Bloomberg April declines in factory orders and home sales will highlight an emerging slowdown in U.S. growth, even as inflation fears linger, economists forecast reports will show this week.

Orders for goods that last at least three years, such as autos and furniture, fell 0.4 percent last month, according to the median forecast of economists surveyed by Bloomberg News ahead of a May 24 report by the Commerce Department. Sales of new and previously owned homes both dropped in April, economists expect private and government reports will show.

Revisions to first-quarter growth will show the economy boomed from January through March, leaving little room for acceleration this quarter as gasoline prices and interest rates rise, economists said. Mounting evidence of a second-quarter slowdown will support forecasts that the Federal Reserve will hold interest rates steady at its next meeting on June 28-29.

Jane Fox : 5/24/2006 8:39:38 AM

DAteline WSJ Federal Reserve Chairman Ben Bernanke said recent declines in world stock markets may reflect concern about inflation and reiterated that the Fed shares those concerns.

But Mr. Bernanke told Congress yesterday that the Fed still has a month of data to help it decide what interest-rate action to take at its next policy meeting, on June 28 and 29.

During a Senate Banking Committee hearing on financial literacy, Sen. Jim Bunning, a Kentucky Republican, asked Mr. Bernanke if declines in stocks and tightening credit bothered him.

"In our policy statement on May 10, we noted there are some upside inflation risks in the economy," Mr. Bernanke replied. "Among other things, higher inflation would raise mortgage rates by raising long-term interest rates. And we indicated at that time that some additional firming of policy might yet be needed in order to address those risks." Firming of policy means higher interest rates.

Jane Fox : 5/24/2006 8:35:27 AM





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