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Jeff Bailey : 6/20/2006 2:11:49 AM

BOJ May Minutes: Price, Wages Vital To Manage Policy

DJ- At least two Bank of Japan board members emphasized the need to conduct monetary policy in an appropriate manner, indicating that future policy action shouldn't be delayed, the minutes of the central bank's May 18-19 policy board meeting showed Tuesday.

"The difference between the real GDP growth rate and real short-term interest rates has expanded considerably, so the bank should conduct monetary policy appropriately in a timely manner, paying attention to the risk of monetary policy becoming too stimulated," one board member said.

Another member said the central bank shouldn't maintain the zero-interest-rate environment for too long.

But neither of these members saw the need to end the zero-rate policy at the May meeting, at which the board voted unanimously to keep the policy unchanged, the minutes showed.

05/18/06-5/19/06 Minutes at this Link

Jeff Bailey : 6/20/2006 1:56:46 AM

Biiig overnight volume in August Gold (gc06q) with 2,339 contracts traded. Down $5.10 at $567.30.

Jeff Bailey : 6/20/2006 1:48:40 AM

YM down 2 points at 11,006

Jeff Bailey : 6/20/2006 1:29:00 AM

Hang Seng components Link

Jeff Bailey : 6/20/2006 1:28:02 AM

PCCW (NYSE:PCW) 5.2 yuan +8.33% is standout. Possible acquisition target.

PCW finished $6.10 here in the states Link ... didn't get a Level II look at any offers, but could get a pop to... $6.52 at the U.S. open.

Jeff Bailey : 6/20/2006 1:24:17 AM

Hang Seng ($HSI) down 178, or -1.13% at 14,590 Link ... Session High/Low has been 15,709/15,582.

If current H/L stands then no X to 15,900, but would move over one column and chart O to 15,600.

Jeff Bailey : 6/20/2006 1:21:35 AM

Nikkei-225 ($NIKK) down 184, or -1.24% at 14,675 Link ... Session Low/High has been 14,626/14,845

Jeff Bailey : 6/20/2006 1:19:23 AM

BOJ's Fukui

Want To Stay On As BOJ Governor

Have Pledged Won't Tighten Policy Hastily

To Adjust Policy Without Delay, But Slowly

No Need For Rapid Policy Adjustment

To Meet Press Later Today On Investment

Global Share Price Adjustments "Reasonable"

Excessively Easy Conditions May Widen Econ Swings

Need 'Forward-Looking' Monetary Policy

Shr Price Moves Have Yet To Affect Advanced Econs

Rate-Rise Timing Depends On Econ, Price Moves

Politics Won't Affect Policy Decision

Will Examine Various Econ Data In Guiding Policy

Econ To Slow, Price Rises Likely Moderate

Jeff Bailey : 6/20/2006 12:55:48 AM

China Sends First Delegation To Watch U.S. Pacific War Game

AP- China has sent its first-ever delegation to observe U.S. war games in the Pacific, the government said Tuesday, hailing them as a "very important component" of military-to-military exchanges.

China's 10-member delegation to the "Valiant Shield" maneuvers includes one general-equivalent officer each from the People's Liberation Army, air force and navy, the official Xinhua News Agency said.

"The invitation to observe the U.S. military exercises is a very important component of exchanges between the militaries of China and the United States," Xinhua said, quoting an unnamed Defense Ministry official.

The five-day exercises that began Monday in the U.S. territory of Guam involve 30 ships - including three aircraft carriers - 22,000 troops and 280 aircraft.

Jeff Bailey : 6/20/2006 12:42:40 AM

Large Block of 1.2 million shares blocked out at $13.10 late this evening in the iShares Japan (EWJ) $12.86 -0.54% ... session high on Monday (U.S.) was $13.05.

Jeff Bailey : 6/19/2006 11:16:38 PM

Index Pivot Matrix for Tuesday at this Link

Jeff Bailey : 6/19/2006 10:18:41 PM

Nikkei-225 ($NIKK) Link ... down 30 points, or -0.22% at 14,827.

Current low/high has been 14,764/14,845.

Bullish % for Japan via Dorsey/Wright would show a decline to 14%, having reversed back up to 34% as of Monday's close.

OI Technical Staff : 6/19/2006 9:59:59 PM

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Jeff Bailey : 6/19/2006 9:08:02 PM

Current OPEN MM Profiles found at this Link

Today's Activity

Stocks/Options

Lowered stop on the two (2) Take-Two Interactive TTWO Sep $15 Puts (TUO-UC) to $14.15 in the underlying.

YM Futures

Day trade shorted the YM at 11,088 (Stop= 11,115 : Tgt= 11,030), but closed out at 11,078 (+10 pts, or $50/contract).

Jeff Bailey : 6/19/2006 8:19:52 PM

NYSE Summation Index ($NYSI) per tonight's Wrap at this Link

Jeff Bailey : 6/19/2006 8:19:07 PM

NASDAQ Summation Index ($NASI) per tonight's Wrap at this Link

Jeff Bailey : 6/19/2006 5:00:27 PM

EIA- US Retail Gasoline Avg. Price Down 3.5c On Week to $2.871

Jeff Bailey : 6/19/2006 4:48:16 PM

Closing Internals found at this Link ... NASDAQ 10-day NH/NL ratio gives additional sell signal.

Jeff Bailey : 6/19/2006 4:23:57 PM

Closing U.S. Market Watch found at this Link

Jane Fox : 6/19/2006 4:09:31 PM

Tomorrow's economic reports include:
8:30a.m. May Housing Starts. Previous: -7.4%.

Jeff Bailey : 6/19/2006 4:01:10 PM

Sell Program Premium ... SPY $123.80 : YM 11,030

Jeff Bailey : 6/19/2006 3:15:24 PM

03:00 Internals found at this Link

Jeff Bailey : 6/19/2006 3:02:34 PM

03:00 Market Watch found at this Link

Jane Fox : 6/19/2006 2:59:20 PM

Dateline CNN Three members of the 101st Airborne Division are charged in connection with deaths of three detainees in Iraq, U.S. military says.

Jeff Bailey : 6/19/2006 2:53:18 PM

US Army Charges 3 Soldiers In Deaths of Iraqis In Custody

AP- The U.S. Army has charged three soldiers in connection with the murders of three Iraqi men who were in military custody in Iraq in early May, the military said Monday.

The Multinational Corps-Iraq said three members of 3rd Brigade Combat Team, 101st Airborne Division have been charged in connection with the deaths of three male detainees during an operation near Thar Thar Canal in southern Salahuddin province on May 9.

"A non-commissioned officer and two Soldiers each have been charged with violating several articles of the Uniform Code of Military Justice including murder, attempted murder, conspiracy, communicating a threat, and obstructing justice," an announcement said.

It added that "on the day the alleged murders occurred, the unit commander ordered an inquiry to determine the circumstances surrounding the deaths of the three detainees."

It said that a Criminal Investigation Command investigation began on May 17 and "is ongoing."

"The soldiers are currently in pre-trial confinement awaiting an Article 32 hearing to determine if sufficient evidence exists for the case to be referred to court-martial," the announcement said

Once charged, defendants have the right to an Article 32 hearing, the military equivalent of a grand jury investigation.

Last week, the U.S. Army announced that it had opened a criminal investigation into the suspicious deaths of three men in military custody in Iraq.

The investigation was requested by Lt. Gen. Peter W. Chiarelli, commander of multinational forces in Iraq.

Chiarelli's request and the decision to open the probe were announced Thursday in an e-mail from Baghdad. Chiarelli acted on the basis of suspicions raised by soldiers about the deaths.

Jane Fox : 6/19/2006 2:08:37 PM

$RUT ad line 252/1419 0.17% compared to earlier this morning at 0.33%

Jeff Bailey : 6/19/2006 1:54:37 PM

VONAGE DROPS ON VERIZON LAWSUIT

DJ- Vonage slides 10% after confirming it was the subject of a patent-infringement lawsuit filed by a pair of Verizon Communications units. Vonage will defend lawsuit that encompasses seven patents related to VoIP technology.

Vonage (VG) $8.65 -9.89% Link

Verizon (VZ) $32.28 -0.79% Link

Jeff Bailey : 6/19/2006 1:45:08 PM

APPLE TO SELL MOVIES ON ITUNES

DJ- Report in Variety says Apple could start selling movies on iTunes by the end of the year. According to the report, Apple CEO Jobs is personally handling the negotiations, and proposed selling films at a flat rate of $9.99.

Apple Computer (AAPL) $57.53 -0.08% Link ...

Jane Fox : 6/19/2006 1:42:36 PM

TICKS -1000 so we should have a retracement here.

Jane Fox : 6/19/2006 1:39:40 PM

NASDAQ DECLINERS OUTNUMBER ADVANCERS 7 TO 3

Jane Fox : 6/19/2006 1:39:05 PM

NYSE DECLINERS OUTNUMBER ADVANCERS 23 TO 9

Jeff Bailey : 6/19/2006 1:38:24 PM

MIRANT DROPS SUIT OVER GOLDMAN ROLE IN NRG BID

DJ- Mirant drops its lawsuit against rival NRG Energy, ending the chances of an open-court fight over Goldman's role in merger play between the two energy companies.

Jeff Bailey : 6/19/2006 1:37:19 PM

US SAYS NORTH KOREA FUELS MISSILE

DJ- North Korea has finished loading fuel into a long-range ballistic missile, a Bush administration official says as signs continue that the reclusive communist state will soon test a weapon that could reach the U.S.

Jeff Bailey : 6/19/2006 1:35:00 PM

SPY alert $123.91 -0.60% ... testing MONTHLY S1.

Jeff Bailey : 6/19/2006 1:31:02 PM

Circuit City Swings to Q1 Profit

DJ- Home-electronics retailer posts net income of $6.4 million, or 4c a share, as revenue increases 17% to $2.62 billion on 15% jump in same-store sales. Analysts projected EPS of 1c on revenue of $2.47 billion.

Circuit City (CC) $29.20 -0.94% Link ...

Jeff Bailey : 6/19/2006 1:28:56 PM

PROBLEMS REPORTEDLY MAY THREATEN 787 ROLLOUT

DJ- Aircraft giant Boeing is grappling with technical and production problems on its new 787 'Dreamliner' aircraft that could threaten plane's planned mid-2008 introduction, BusinessWeek reports.

Boeing (BA) $84.83 -0.83% Link ...

Jeff Bailey : 6/19/2006 1:23:35 PM

YM alert 11,030

Jeff Bailey : 6/19/2006 1:16:32 PM

NAHB June Housing Index 42 vs. 46 In May (released at 01:00 PM EDT) DJ- The National Association of Home Builders' index for sales of new, single-family homes fell to 42 in June from 46 in May, marking its lowest point since April 1995, the association said Monday.

The May index was revised up one point from last month's preliminary estimate.

When the Housing Market Index is over 50, it means the number of builders who see "good" sales outnumber the number who see "poor" sales. The index, which is adjusted for seasonal variations, was based on a survey of 455 home builders, who answer questions about sales prospects now and in the near-term.

The association pointed to rising mortgage rates, "deepening affordability issues" and the retreat of investors from the market as reasons for the increased pessimism from homebuilders.

NAHB Chief Economist David Seiders said the decline in the index was not surprising, given expectations of a cooling down in the housing market. "We now expect new-home sales to be off by 13% from the record posted in 2005," Seiders said in a statement.

Single-family housing starts are seen down 9% from last year's record, Seiders said. Housing starts are expected to be supported by big builder backlogs and reconstruction for last year's hurricanes, he said.

Within the NAHB's Housing Market Index, the component for current sales of single-family homes fell to 47 in June, down from 50 in May.

Expectations for sales in the next six months decreased during in June by five points to 50, the NAHB said. The traffic of prospective buyers also fell, dropping four points to 29.

The June decline in builder confidence again was broad-based and apparent in every region, the association said. Regional indexes were down seven points to 40 in the Northeast, down four points to 25 in the Midwest, down two points to 49 in the South and down one point to 60 in the West.

Jeff Bailey : 6/19/2006 1:13:48 PM

01:00 Internals found at this Link

Jeff Bailey : 6/19/2006 1:07:10 PM

SPY $124.30 -0.28% ... bold move below WEEKLY Pivot.

Jeff Bailey : 6/19/2006 1:06:42 PM

YM 11,050 ... darts to lows of the session.

Jeff Bailey : 6/19/2006 1:06:14 PM

Chicago Merc (CME) 447.00 -1.59% ... probes WEEKLY Pivot (again)

Jeff Bailey : 6/19/2006 1:02:23 PM

01:00 Market Watch found at this Link

Jeff Bailey : 6/19/2006 12:49:32 PM

Swing trade put lower stop alert ... Let's lower the stop on the two (2) Take-Two Interactive TTWO Sep $15 Puts (TUO-UC) to $14.15 in the underlying shares.

TTWO $13.06 -0.30%

Jeff Bailey : 6/19/2006 12:41:07 PM

Dallas Fed's Fisher (comments) DJ- US Has Seen Significant Growth

US Growth Will Continue, But Will Be Slower

Tab Gilles : 6/19/2006 12:11:24 PM

Intel (INTC) Back on 4/24/06 10:11AM, I posted that Intel appeared to be forming a bottom. Link

Current chart... Link

Jeff Bailey : 6/19/2006 12:01:50 PM

Current OPEN MM Profiles found at this Link

Jeff Bailey : 6/19/2006 11:44:00 AM

Buy Program Premium ... SPY $124.75 : YM 11,082

Jeff Bailey : 6/19/2006 11:42:02 AM

YM short exit alert 11,078

Jeff Bailey : 6/19/2006 11:37:25 AM

Chicago Merc (CME) $448.45 -1.27% ... probes WEEKLY Pivot.

Jeff Bailey : 6/19/2006 11:36:53 AM

SPY $124.54 -0.07% ... probes WEEKLY Pivot (again)

Tab Gilles : 6/19/2006 11:36:17 AM

Dow 10,500? Link Link Link Link

YTD... Link From market lows and top.... Link Link

Jeff Bailey : 6/19/2006 11:36:16 AM

YM short lower stop alert to break even.

YM 11,070

Jane Fox : 6/19/2006 11:34:49 AM

10-YR YIELD AT 5.14% - highest intraday level in 1 month

Jeff Bailey : 6/19/2006 11:23:20 AM

YM short alert 11,088 here, stop 11,115, target 11,030

Jeff Bailey : 6/19/2006 11:13:30 AM

11:00 Internals found at this Link

Friday's Internals found at this Link

Jeff Bailey : 6/19/2006 11:01:49 AM

11:00 Market Watch found at this Link

Tab Gilles : 6/19/2006 10:43:56 AM

Several $SPX/ $COMPQ/ $NDX charts: Link Link Link Link Link Link Link Link Link

Jane Fox : 6/19/2006 10:42:02 AM

NYSE MOST ACTIVE STOCKS: NT EMC HPQ F TWX
NASDAQ MOST ACTIVE STOCKS: MSFT QQQQ INTC JDSU ORCL

Jeff Bailey : 6/19/2006 10:38:20 AM

Take-Two Interactive (TTWO) $12.88 -1.67% ... WEEKLY Pivot Levels ... $12.03, $12.56, Piv= $13.22, $13.75, $14.42.

Jeff Bailey : 6/19/2006 10:36:29 AM

Chicago Merc (CME) $450.97 -0.72% ...

Jeff Bailey : 6/19/2006 10:36:00 AM

SPY $124.46 -0.14% ... probes WEEKLY Pivot.

Jane Fox : 6/19/2006 10:21:26 AM

Bears are in control now.

Jane Fox : 6/19/2006 10:18:33 AM

$RUT Ad line is 402/1213 0.33%

Jeff Bailey : 6/19/2006 10:02:48 AM

10:00 Market Watch found at this Link

Jeff Bailey : 6/19/2006 9:59:10 AM

3M (MMM) $79.88 -0.75% Link ... gets defensive.

Jane Fox : 6/19/2006 9:57:47 AM

NYSE ADVANCERS OUTNUMBER DECLINERS 8 TO 5
NASDAQ ADVANCERS OUTNUMBER DECLINERS 7 TO 5
DOW INDUSTRIALS ADVANCERS OUTNUMBER DECLINERS 20 TO 10

Jeff Bailey : 6/19/2006 9:51:35 AM

iShares Russell 2000 (AMEX:IWM) $68.52 -0.47% Link ... WEEKLY Pivot Levels ... $65.04, $66.94, Piv= $68.45, $70.36, $71.88.

Jane Fox : 6/19/2006 9:46:34 AM

Here is your ultimate oxymoron Nestle to buy weight-loss firm Jenny Craig for $600 mln

Jeff Bailey : 6/19/2006 9:42:31 AM

Dollar Index (dx00y) 86.42 +0.58% ... strong to start the week.

Jane Fox : 6/19/2006 9:39:08 AM

AD line is a bullish +612 and AD volume above 0. Both TRIN and VIX are below their PDLs. Bulls have the ball.

Jane Fox : 6/19/2006 9:36:37 AM

INTC up 1.4% at $18.55
Procter gamble (PG) up 1.5% at $55.83
Circuit city (CC) up 3.3% at $30.45
Nokia (NOK) up 3.5% at $20.67


Jeff Bailey : 6/19/2006 9:33:11 AM

S&P Dep. Receipts (SPY) $125.35 +0.60% ... 60-minute interval chart with updated MONTHLY/WEEKLY Pivot retracement at this Link

Jeff Bailey : 6/19/2006 9:29:10 AM

Chicago Merc (CME) 60-minute interval chart with MONTHLY/WEEKLY Pivot retracement at this Link ... Would not suggest new positions in the July $420 Puts unless we see a break back below the $447 level.

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