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Jeff Bailey : 6/2/2006 2:30:25 AM

Program Trading Levels for Friday ... HL Camp & Company has their computers set for program buying at $+2.82 and set for program selling at $+0.44.

Fair Value for the S&P 500 is $1.68.

Jeff Bailey : 6/2/2006 1:41:11 AM

05/24/06 to 06/01/06 Sector Bell Curve Comparison at this Link

WALL Street reversed back up to "bear correction" from "bear confirmed" today (06/01/06)

Jeff Bailey : 6/2/2006 1:20:01 AM

Index Pivot Matrix for Friday at this Link

SPX/SPY/OEX/BIX close above MONTHLY Pivot with BIX pressing the issue just below WEEKLY R1.

INDU/DIA/NDX/QQQQ lag and SOX is understandable as weak as it has been.

Daily S1/WEEKLY S1 correlation for the dollar/dx00y may be important as it relates to market sentiment over concern for the dollar and monetary policy.

Fear guage, or VIX.X has DAILY R1/MONTHLY Pivot correlation.

Looks "squared up" and ready for the Non Farm.

Don't underestimate today's productivity figures! Very important as it relates to a component of keeping inflationary pressures under control.

Jeff Bailey : 6/2/2006 12:29:01 AM

YM 30-minute interval chart at this Link ... tough to envision 11,201-11,216 or 11,216-11,231 as "zone of support" for tomorrow. Gives me the feeling of equilibrium or neutral area.

Jeff Bailey : 6/2/2006 12:19:04 AM

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

Jeff Bailey : 6/2/2006 12:04:34 AM

YM Pivot Matrix for Friday at this Link ... Note: 11,307 correlation. On 05/26/06 YM traded DAILY R2 and 11,307, then saw selling.

Jeff Bailey : 6/1/2006 11:56:34 PM

YM trade recap 5-minute interval chart at this Link

OI Technical Staff : 6/1/2006 9:59:59 PM

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Jeff Bailey : 6/1/2006 6:50:04 PM

GG 10-minute interval chart with tomorrow's DAILY Pivot Retracement Link

Trade blotter review and how things looked intra-day on 5/23/06 Link

Jeff Bailey : 6/1/2006 6:17:17 PM

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

Today's Activity

Stocks/Options

Lowered a stop on the Newmont Mining (NEM) swing trade short to $51.55 and was stopped out there. ($+0.50, or +0.96%).

Swing trading long shares of Goldcorp (GG) at the offer of $29.93. Have raised stop to $29.65 and targeting $30.50. Depending on tomorrow mornings market response to Non Farm data, should GG gap above $30.53, could make addition move to $30.94.(see 5/22-5/23 trade) We shall see. A lot of "gap filling" today. Dollar Index, you name it.

YM Futures

Traded long the YM at 11,175 (Stop= 11,150 : Tgt= 11,260), but was stopped at 11,215 (+40 pts, or $+200/contract)

Jeff Bailey : 6/1/2006 5:35:06 PM

Bullish swing trade raise stop alert ... for Goldcorp (GG) $30.11 ... to $29.65

Could be a WILD one for dollar/gold/bonds on tomorrow's pre-market Non-Farm data.

Gold, the commodity, looks to have "caught up" to the stocks.

Jeff Bailey : 6/1/2006 5:08:06 PM

Closing Internals found at this Link

Jeff Bailey : 6/1/2006 4:49:16 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 6/1/2006 4:39:42 PM

Newmont Mining (NEM) $51.67 -0.92% ... (see today's 12:43:12 and 12:18:21)

Jeff Bailey : 6/1/2006 4:34:30 PM

Goldcorp (GG) $30.11 -1.79% ... 30-minute interval chart at this Link

Jane Fox : 6/1/2006 4:22:09 PM

Tomorrow's economic reports are

8:30a.m. May Non-Farm Payrolls. Consensus: +182K. Previous: +138K.

8:30a.m. May Unemployment Rate. Consensus: 4.7%. Previous: 4.7%.

10a.m. April Factory Orders. Consensus: -2.0%. Previous: +4.2%.

Jane Fox : 6/1/2006 4:21:31 PM

Six world powers agree on package of incentives and penalties for Iran to resolve nuclear dispute.

Jeff Bailey : 6/1/2006 4:15:22 PM

Sell Program Premium ... SPY 128.72 : YM 11,255

Jeff Bailey : 6/1/2006 3:44:44 PM

Ugh! ... running quick numbers on GG. using current session high/low and forecasting a $30.00 close, tomorrow's DAILY R1 $30.45.

That's correlative with WEEKLY Pivot

Jeff Bailey : 6/1/2006 3:36:56 PM

StreetTracks Gold (GLD) $62.60 -2.53% ... at 03:00 PM EDT, it was trading $62.43.

$62.50 might be the round number close ($625.00) as traders brace for tomorrow.

Jeff Bailey : 6/1/2006 3:34:54 PM

Dollar Index (dx00y) held onto gains to finish 03:00 PM EDT session at 84.79.

DAILY Pivot Levels for tomorrow are ... 84.26, 84.62, Piv= 84.90, 85.16, 85.54.

Jeff Bailey : 6/1/2006 3:25:53 PM

Good Gravy! GG $30.22 -1.43% ...

Jeff Bailey : 6/1/2006 3:25:00 PM

Dow Diamonds (DIA) 112.42 +0.61% ...

Jeff Bailey : 6/1/2006 3:24:02 PM

YM alert 11,260

Jeff Bailey : 6/1/2006 3:13:09 PM

03:00 Internals found at this Link ... NYSE 10-day NH/NL ratio would reverse up with a closing session reading of 20.00%.

Jeff Bailey : 6/1/2006 3:02:29 PM

03:00 Market Watch found at this Link

Jeff Bailey : 6/1/2006 2:49:01 PM

Oh my! YM 11,244 best levels of the session

Jeff Bailey : 6/1/2006 2:47:23 PM

PTR Jun $95 Puts (PTR-RS) show 104 contracts traded today. high/low $0.80/$0.50 : currently $0.40 x $0.55

PTR $106.44 ...

Jeff Bailey : 6/1/2006 2:43:35 PM

Petrochina (PTR) $106.45 -1.97% ...

Jeff Bailey : 6/1/2006 2:42:41 PM

Petrochina option trade alert ... seeing some "heavy" action in the PTR Jun $100 Puts (PTR-RT) with UpTick=200 vs. DnTick= 0.

Jeff Bailey : 6/1/2006 2:19:42 PM

Goldcorp (GG) $29.85 -2.64% ... mid-point of day's range $29.64.

Jeff Bailey : 6/1/2006 2:18:27 PM

StreetTracks Gold (GLD) $62.32 ($623.20) ... slips back under 50% of today's range.

Jane Fox : 6/1/2006 2:09:57 PM

XTO Energy (XTO) shares gain 1.2% to $41.73 after co. agrees to acquire Peak Energy for 2.555m common shares for a value of Peak stock consideration about $105m.

XTO expects deal to close on June 3

Jeff Bailey : 6/1/2006 2:07:58 PM

YM bullish stop alert ... 11,215

Jeff Bailey : 6/1/2006 1:48:39 PM

Bullish swing trade long alert ... for Goldcorp (GG) $29.93 here, stop $29.40, target $30.50

Jeff Bailey : 6/1/2006 1:44:37 PM

Bearish swing trade stop alert ... for Newmont Mining (NEM) $51.55

Jeff Bailey : 6/1/2006 1:35:14 PM

YM raise bullish stop alert ... to 11,215

YM 11,225

Jeff Bailey : 6/1/2006 1:13:43 PM

01:00 Internals found at this Link

Jeff Bailey : 6/1/2006 1:04:01 PM

01:00 Market Watch found at this Link

Jeff Bailey : 6/1/2006 1:00:49 PM

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

Jeff Bailey : 6/1/2006 12:43:12 PM

Newmont Mining (NEM) $51.08 -2.05% ... now a 30-minute interval chart at this Link

See DX00Y at 12:04:04

Jeff Bailey : 6/1/2006 12:37:13 PM

Bearish swing trade lower stop alert ... on Newmont Mining (NEM) $51.13 -1.95% ... to $51.55

Jeff Bailey : 6/1/2006 12:18:21 PM

Dollar Index (dx00y) 30-minute chart updated with new MONTHLY Pivot Retracement at this Link

Jeff Bailey : 6/1/2006 12:04:04 PM

Dollar Index (dx00y) 84.73 ... well off morning high of 85.26 and the WEEKLY 38.2% Pivot retracement.

Jeff Bailey : 6/1/2006 12:02:15 PM

YM 11,214 ... late-morning low has been 11,206

Jeff Bailey : 6/1/2006 11:39:44 AM

YM raise stop correction alert ... to 11,205

YM 11,226

Jeff Bailey : 6/1/2006 11:38:57 AM

YM raise bullish stop alert ... to 11,205

YM 11,231

Jane Fox : 6/1/2006 11:33:51 AM

NYSE MOST ACTIVE STOCKS: T PFE Q GLD GE

Jeff Bailey : 6/1/2006 11:22:08 AM

11:00 Internals found at this Link

Jeff Bailey : 6/1/2006 11:04:23 AM

11:00 Market Watch at this Link

Jeff Bailey : 6/1/2006 10:46:34 AM

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

Tab Gilles : 6/1/2006 10:42:15 AM

Murphy Oil (MUR) $53.51 + $0.80 Jan '07 Call Leap (MURAI) Bid $10.80 / Ask $11.30 Link Link

June 1st Hurricane season starts. Link

Jeff Bailey : 6/1/2006 10:40:46 AM

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

Tab Gilles : 6/1/2006 10:32:01 AM

EIA + 1.6M Crude + 800K Gasoline + 1.8M Distillates

Jane Fox : 6/1/2006 10:29:58 AM

Dateline WSJWASHINGTON -- U.S. productivity rose at a faster pace than previously estimated last quarter and labor costs eased, suggesting that greater efficiency of U.S. firms and workers is keeping a lid on inflationary pressures.

The Labor Department said nonfarm business sector productivity increased 3.7% during the first quarter after falling 0.3% in the fourth quarter of 2005. The government had originally estimated first quarter productivity growth at 3.2%.

Wall Street economists had expected a revision to 3.9% due to an upward revision to first quarter gross domestic product growth from 4.8% to 5.3%.

Unit labor costs rose by just 1.6% in the first quarter, versus a previous estimate of 2.5%. The fourth quarter of 2005 figure was revised sharply to a unit labor cost decline of 0.6% versus a previous estimate of a 3% rise.

The upward revision to productivity -- and downward revisions to labor costs -- could bolster the argument for Federal Open Market Committee officials to pause their nearly two-year-long tightening cycle when they meet at the end of the month.

Jeff Bailey : 6/1/2006 10:18:32 AM

Current OPEN MM profiles at this Link

Jane Fox : 6/1/2006 10:09:55 AM

Construction spending off 0.1% in April -

Jane Fox : 6/1/2006 10:09:37 AM

U.S. home prices up 12.5% in past year

Jane Fox : 6/1/2006 10:09:17 AM

Crude falls with OPEC reportedly set to stand pat on quota

Jane Fox : 6/1/2006 10:08:58 AM

May ISM manufacturing index 54.4% vs 57.3% in April

Jane Fox : 6/1/2006 10:07:57 AM

Q1 home prices up 12.5% year-over-year:

Q1 home prices up 2% quarterly

Jane Fox : 6/1/2006 10:07:37 AM

May ISM employment 52.9% vs 55.8% in April

May ISM prices 77.0% vs 71.5% in April

Jeff Bailey : 6/1/2006 10:03:37 AM

Copper futures ... trading resumed.

Jeff Bailey : 6/1/2006 10:02:54 AM

10:00 Market Watch found at this Link

Jeff Bailey : 6/1/2006 9:57:55 AM

Newmont Mining (NEM) $50.25 -3.64% ...

Jane Fox : 6/1/2006 9:48:20 AM

July copper falls by its trading limit, nymex trade halted

July copper last down 20 cents at $3.424/lb

Jeff Bailey : 6/1/2006 9:45:22 AM

Copper futures suspended (daily limit down) ... CNBC

Jeff Bailey : 6/1/2006 9:38:59 AM

Stock Pivot Matrix (FTO, PTR, NEM, PD, GG, VLO) at this Link

Jane Fox : 6/1/2006 9:27:16 AM

TEHRAN, Iran (AP) -- Iran's foreign minister on Thursday welcomed direct talks with Washington on his country's disputed nuclear program but rebuffed a U.S. proposal that Tehran must suspend uranium enrichment as a condition, state-run television reported.

"Iran welcomes dialogue under just conditions but (we) won't give up our (nuclear) rights," the television quoted Foreign Minister Manouchehr Mottaki as saying.

"We won't negotiate about the Iranian nation's natural nuclear rights but we are prepared, within a defined, just framework and without any discrimination, to hold dialogue about (our) common concerns," he added.

Jeff Bailey : 6/1/2006 9:25:27 AM

YM adjust stop alert lets adjust stop to 11,145 (for any EIA volatility).

YM 11,170

Jeff Bailey : 6/1/2006 9:24:02 AM

Program Trading Levels for Thursday ... HL Camp & Company has their computers set for program buying at $+3.02 and set for program selling at $+0.38.

Jeff Bailey : 6/1/2006 9:16:58 AM

YM long entry alert 11,175 here, stop 11,150 , target 11,260

Jane Fox : 6/1/2006 9:02:46 AM

BofA ups fed funds target for year-end '06 to 5.75%

Jane Fox : 6/1/2006 9:02:07 AM

NEW YORK--(BUSINESS WIRE)--June 1, 2006--The International Securities Exchange (NYSE:ISE) today reported that average daily trading volume for equity and index options contracts for May 2006 increased 68.3% to 2.6 million contracts as compared to 1.6 million contracts during the same period in 2005. Total equity and index options volume for the month increased 76.3% to a record 57.9 million contracts from 32.9 million contracts in the same year-ago period.

Jane Fox : 6/1/2006 8:48:06 AM

Dateline Bloomberg The productivity of U.S. workers accelerated last quarter and labor costs slowed over the last year, easing concern that rising wages will fuel inflation.

Productivity, a measure of how much an employee produces for every hour of work, rose at a 3.7 percent annual rate from January through March, compared with a 0.3 percent drop the previous three months, revised figures from the Labor Department showed today in Washington. Labor costs rose at a 1.6 percent annual rate last quarter and were up 0.3 percent in the 12 months ended in March, matching the smallest increase in more than a year.

Greater efficiency is helping businesses control labor costs, allowing them to withstand surging raw-material prices without resorting to large price increases. Smaller labor-cost gains will come as a relief to Federal Reserve policy makers concerned about inflation and may tip the balance in favor of holding interest rates steady at the Fed's next meeting June 28- 29, economists said.

There is "significantly less cost pressure," Douglas Lee, president of Economics From Washington, a Potomac, Maryland, research firm, said before the report. "These data go a long way toward relieving the Fed's inflation concern

Jane Fox : 6/1/2006 8:46:35 AM

Dateline WSJ U.S. retailers began posting sales gains for May as consumers grappled with high gasoline prices after spending freely a month earlier. The department-store sector posted strong gains, but results elsewhere were middling.

Wal-Mart Stores Inc. said same-store sales rose 2.3% in May, meeting a Saturday estimate but near the low end of its earlier forecast for a 2% to 4% gain. The average estimate of analysts polled by Thomson First Call was for an increase of 2.9%.

Total company sales for the four weeks ended May 26 rose 12% to $26.29 billion from $23.42 billion in the same period a year earlier. Looking ahead, the world's largest retailer forecast same-store sales growth of 1% to 3% for June. The Dow component said fuel prices remain the "top concern" for its customers.

Wal-Mart said Saturday that its lower-income customers are making purchases in "a more pronounced pay cycle," meaning that they appear to be living paycheck-to-paycheck, with bursts of spending coming just after payday twice a month. Wal-Mart also is experiencing sluggish customer traffic at its stores, with customers making fewer trips to stock up on essentials in order to save money on gasoline.

Jane Fox : 6/1/2006 8:45:29 AM

Chicago Board of Trade options trading hits record in May

Jane Fox : 6/1/2006 8:45:05 AM

Initial jobless claims rise to 7-month high -

Jane Fox : 6/1/2006 8:43:45 AM

Revisions to productivity data show less inflation pressures.

Jane Fox : 6/1/2006 8:42:54 AM

CBOT MAY AVG DAILY VOLUME ROSE 18% TO RECORD 3.6M CONTRACTS

Jane Fox : 6/1/2006 8:35:14 AM

U.S. CONTINUING JOBLESS CLAIMS UP 19,000 TO 2.43 MLN

4-WEEK AVG. INITIAL CLAIMS 333,500, HIGHEST SINCE OCT.

U.S. INITIAL JOBLESS CLAIMS UP 7,000 TO 336,000

Jane Fox : 6/1/2006 8:34:23 AM

REAL HOURLY COMPENSATION DOWN 0.9% Y-O-Y

UNIT LABOR COSTS UP 0.3% Y-O-Y VS. 1.4%

U.S. PRODUCTIVITY UP 2.5% Y-O-Y VS. 2.4%

U.S. Q1 NONFINANCIAL CORP PRODUCTIVITY 3.7%

Q4 UNIT LABOR COSTS REVISED TO -0.6% VS. 3.0%

Q1 UNIT LABOR COSTS REVISED TO 1.6% VS. 2.5%

Q1 PRODUCTIVITY REVISED TO 3.7% VS.

Jane Fox : 6/1/2006 8:30:39 AM

Wal-Mart's May same-store sales rose 2.3%. It forecast same-store sales growth of 1% to 3% for June.

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