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Jeff Bailey : 6/30/2006 2:03:04 AM

Continental Airlines (CAL) review and daily interval bar chart Link

Here's what I will do, suggest, for my current OPEN MM PROFILES position.

For the CAL short (200 shares), I will stick with the previously profiled stop of $28.25. For educational purposes I would suggest traders (in this trade, or not in this trade) think about how PUT SELLING OUT THE MONEY can be a near-term "hedge", but also BE HINT OF A DIRECTIONAL BIAS toward a security.

I could outline $25 Call buying as a "hedge" trade too, but most of the time, that's what traders/investors think about, or is top-of-mind thought. I noted today's VIX readings of 13, so PREMIUMS are/should be notably lower for buying calls as a "hedge" against a short. (bulls aren't the ONLY market participants that buy calls)

Now, I know of one trader that did short some more CAL today at $27.32 when it looked as if AMR was signaling weakness. I've known this trader since the day he was born. He owns a dog named Drake. He almost shorted some more CAL ahead of the Fed when the stock reversed all of its morning's gains, but thought better of it, with too much uncertainty as to how the MARKET might react to the FOMC news, etc., etc..

Now, this trader also commented on AMR where one could begin to think the stock has "double topped" Link

I'm not trading AMR, but I did check July's "Max Pain Theory," which is $25.00 (stock "struggled a bit under this level today) and options are $2.50 increments then $5 above $25.00 strike ($20, $22.50, $25.00, $30).

With the thought that "birds of a feather flock together" I would think a CAL / AMR trader begins to make some notes as to "what to look for." Or a "what I don't want to see unfold."

Let it be CLEAR! "Max Pain Theory" is another TOOL in the trader's tool box, or an observation to TEST against. I've seen it written, I've heard it said that "Max Pain Theory" is of little help. I couldn't disagree more. Stocks can make BIG moves in a trader's favor, or against a trader should a "hedge" or misplaced bet on a NAKED option strategy/trade take place.

I do get a little "uncomfortable" at today's close with CAL above $27.50 (say half way between $25.00 and $30 strikes) and would want to see AMR stay close, better yet UNDER the $25.00 strike.

Jeff Bailey : 6/30/2006 1:09:17 AM

YM recap 30-minute interval chart at this Link

Enough "bottoms" have been called in recent weeks to choke a horse, and by now, any bottom calling is going to be taken with a large grain of salt.

With that said, there are some technicals that unfolded today, which I think should bring a "shift" in my own trader mentality as to becoming, or trading with a bullish focus.

Let's look at this morning "gap up" juuuust above WEEKLY Pivot. Let's say computers were turned on, and there was some type of CONVICTION to buy that level.

One of the "easy money" trades a futures trader looks for (this move is an old faithful that reportedly has a 90% probability of happening) is to trade inverse a gap early in the morning, especially when the gap comes INVERSE of trend, where that gap will more than likely get filled by 11:30 AM or so. You and I can see that today was the 10%. But take note. If you can, look at an equity futures chart on 2, 5, 10-minute intervals, and look at mornings where the "gap" trade did play out. One futures trading buddies of mine swears that if the ES gaps up/down more than 7 points in a day, that day's gap will NOT get filled that day as the power of the move is simply too powerful and feeds on itself the rest of the day.

For now, I will have the mindset that some type of "change in posture" among market participants, if not INSTITUTIONAL computers happened after Wednesday's close. And built BULLISH today (Thursday).

I didn't go into great length about Japan's Nikkei-225 trade last night, but remember the "weak" Industrial Production data, and future forecast for rebound in June and July? The Nikkei-225 powered higher after that "weak" May report. Also, if you are like me and saw the iShares Japan (EWJ) never really faltered since our BULLISH EXIT on 06/15/06. Mind you, I didn't "call a bottom." However, do I/you wish I were still long that trade? My answer would be "yes," but I'm also pleased we made a gain as profiled.

Truth be told. The REASON I monitored last night's Nikkei action, news, was that I was thinking about SHORTING THE EWJ if the $NIKK faltered last night.

Do YOU think there are any shorts in the EWJ? Sure that its "island reversal" gap would get filled?

But you see where the "wish I were still long" and observation that the EWJ did give additional change to "get long and prior exit" also creates the observation that.... hey, maybe equity markets are gaining some strength again.

Back to the YM chart. Does anyone remember Rick Santelli's comments from a couple weeks ago regarding trader's comments about a settlement/close above 11,150 signaling bullishness? I didn't mention his comments here in the MM (I'll mention things Mr. Santelli says from time to time), but the BROWN horizontal line I draw has the look of importance.

Now... see that "dashed green" upward trend? See today's action as YM trades up to that old trend and the 11,150 level? The decline from there is about the time "the bear stuck its head in the bull's tent." Yes, I thought, and it was "covered with oil!"

That is, until the FOMC announcement.

Were computers set for selling at WEEKLY R1? No! If anyone was going to buy above 11,150, they (you, I) were going to have to "pay up to the close." The overlap at 11,225 had some significance late, but not alot. CAL is not a YM/INDU component, neither is AMR, but if you monitored those stocks intra-day, you can see from the FOMC meeting that sellers simply conceded the session to the close. You can probably see similar trade in a lot of securities today.

Now. Tonight I do draw a "solid green" trend from the 6/14/06 low to 06/28/06 pullback low.

Now. Downward trends. On a bar chart, I don't have one! The YM has now broken 2 of our downward trends. Yes, if we were to see a 100-point giveback tomorrow, I could attach a "cheater's downward trend, but the new "overriding trend" on the above bar chart would be the SOLID GREEN trend.

Now. Do you see the "cradle" of SOLID GREEN and DASHED RED trend at 11,050? See how it tends to mark the low of today's "gap?"

If that gap were to be filled, say... in the next three or four trading sessions, I would have to think that EVERY SHORT prior to this morning's open, that is STILL SHORT will think twice, maybe thrice, about sticking his/her head in the bull's tent, and will be GLAD TO COVER there, if not at 11,150.

Do you think ANYONE was short the YM on the head/shoulder top pattern, with neckline at 10,993 and SHOULDERS at roughly 11,150? Boom!

What do I (Jeff Bailey) and perhaps YOU have to be cognizant of regarding CAL? I'm profile short 1/2 the stock, and put 1/2. My BIGGEST concern regarding the CAL trade is the underlying STOCK position. The Put OPTION has "limited risk," and time to play out, or recover from. Still, there's NOTHING that says that pattern can't still play out to the bear's favor. At the time of this writing, the "right shoulder" is still intact. The technicals "match" a bearish fundamental scenario.

There was an interview on CNBC with Frontier's (FRNT) CEO today. He talked about airline's industry NOT adding any capacity (only way to grow revenue is to raise prices?) and the continued pressure from higher fuel costs.

OK ... I tend to "discount" the fuel costs a bit as many airlines had been setting multi-year highs despite $65, $70 oil (see MM 09/27/06 Swing trade put AMR-NM). Besides ... if the TECHNICALS turn against a trader/investor, but then they start talking about the "fundamentals," that's when you, or at least I, really start to question things. It tends to become an "excuse" to hang in there, take the heat, until the MARKET eventually agrees with the fundamental analysis.

Jeff Bailey : 6/29/2006 10:38:02 PM

Dollar Index (dx00y) 30-minute interval chart to put today's post FOMC reaction into perspective Link ... This has the look that market participants dipped into their piggy banks and bought Treasuries and equities. Oil, commodities and just about EVERYTHING!

Earlier this morning the "bear stuck its head in the bulls tent." I thought it might be covered with oil. WRONG!

If anything bears dipped into their piggy banks, and some of the cash they built from shorting was "withdrawn" to cover.

OI Technical Staff : 6/29/2006 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 : 6/29/2006 5:51:12 PM

Current OPEN MM Profiles found at this Link

Today's Activity I did not profile any trades today. I may adjust a couple of stops prior to tomorrow's open based on some intra-day observations, but they would be fractional at best.

Jeff Bailey : 6/29/2006 5:47:50 PM

Current OPEN MM Profiles found at this

Jeff Bailey : 6/29/2006 5:41:58 PM

I did capture "Max Pain" values for DIA, IWM, NDX, QQQQ and EWJ (would be at Wednesday's close), but I don't have the time to capture all options chains like demonstrated at 05:34:34.

A trader/investor that can get the Open Interest prior to tomorrow morning may be well served in the future!

Jeff Bailey : 6/29/2006 5:38:30 PM

SPX Options Chain (sorted most active) at this Link ... Prior to today's action, "Max Pain Theory" values for July= 1,265/$126 : August= 1,250/$125 : Sep= 1,265/$128 : Dec= 1,275/$125 for SPX/SPY

Again... QCharts' "Titles" are messes up as far as the root in concerned.

BIG shift in VIX and sentiment with today's reading in my opinion. Either than or very, very naked.

Jeff Bailey : 6/29/2006 5:20:47 PM

Closing Internals found at this Link

Jeff Bailey : 6/29/2006 4:59:42 PM

Closing U.S. Market Watch found at this Link

Jane Fox : 6/29/2006 4:48:28 PM

Economic Reports for Tomorrow include:

8:30a.m. May Personal Income. Consensus: +0.2%. Previous: +0.5%.

8:30a.m. May Personal Spending. Consensus: +0.4%. Previous: +0.6%.

9:45a.m. End of June Univ. of Michigan Consumer Sentiment. Previous: 82.4.

10a.m. June Chicago Purchasing Managers Index. Consensus: 59.0. Previous: 61.5.

Jeff Bailey : 6/29/2006 4:07:14 PM

Buy Program Premium ... SPY $127.27 : YM 11,261

Jeff Bailey : 6/29/2006 4:06:17 PM

Nortel Price $2B Senior Notes Offering

DJ- Nortel Networks Corp. (NT) has priced an offering of $2 billion total principal amount of senior notes by its operating unit, Nortel Networks Ltd.

The Toronto communications equipment company said the notes to be issued consist of $450 million of senior notes due 2016, $550 million of senior notes due 2013, and $1 billion of floating rate senior notes due 2011. The offering is expected to close July 5.

The 2016 notes will pay interest semi-annually at 10.75% a year; the 2013 notes will pay interest semi-annually at 10.125% a year; and the floating rate notes will pay interest quarterly at three-month LIBOR plus 4.25%.

It plans to use $1.3 billion of the net proceeds to repay a $1.3 billion one-year credit facility that Nortel Networks Ltd. entered into in February, and the remainder for general corporate purposes.

Jeff Bailey : 6/29/2006 3:54:34 PM

Intercontinental Exchange (ICE) $55.18 +6.14% ... Launching 2 New Coal Contracts July 17

Jeff Bailey : 6/29/2006 3:41:16 PM

Might not be that big of a deal for a year-end early 2007 chip rally. Looks like a 3-month delay.

Jeff Bailey : 6/29/2006 3:38:55 PM

Microsoft Pushes Back Office 2007 Release Reuters brief Link

Jane Fox : 6/29/2006 3:35:23 PM

FORMER HEALTHSOUTH CEO SCRUSHY CONVICTED OF BRIBERY: AP

Jeff Bailey : 6/29/2006 3:29:58 PM

Gold Bugs ($HUI.X) 327.05 +7.29% ...

StreetTracks Gold (GLD) $59.72 +3.78% ...

Jeff Bailey : 6/29/2006 3:20:30 PM

Semiconductor Index (SOX.X) 443.31 +3.30% ...

Jeff Bailey : 6/29/2006 3:19:51 PM

Microsoft (MSFT) alert $23.45 +1.25% ... to delay its Office product release.

Jeff Bailey : 6/29/2006 3:16:22 PM

03:00 Internals found at this Link

Jeff Bailey : 6/29/2006 3:03:39 PM

03:00 Market Watch found at this Link

Jeff Bailey : 6/29/2006 2:45:33 PM

VIX alert 14.00 .... SPY $126.54 : SPX 1,265.51

Jeff Bailey : 6/29/2006 2:43:15 PM

S&B Banks (BIX.X) 374.24 +1.41% ... 30-year YIELD down a more modest 2.3 bp has curve steepening.

Markets look pleased with FOMC move/wording.

Jeff Bailey : 6/29/2006 2:41:49 PM

5-year bond surging with YIELD plunging 6.3 bp to 5.164%

Jeff Bailey : 6/29/2006 2:34:42 PM

SPX Option Chain same sort order as earlier benchmark at this Link ... some increased action in the 1,250 puts ... lower VIX may equate to selling at that strike.

Jeff Bailey : 6/29/2006 2:31:27 PM

VIX (alert) 14.40 after spike below 14.00 to 13.77

Jeff Bailey : 6/29/2006 2:29:53 PM

Sell Program Premium ... SPY $126.29 : YM 11,197

Jane Fox : 6/29/2006 2:29:25 PM

* Dollar falls sharply after Fed announcement -
* Crude futures continue higher after Fed rate hike -
* Retail index rallies after Fed hike
* Financial stocks rise following Fed rate hike -
* Fed hike expected; statement nicely dovish

Jeff Bailey : 6/29/2006 2:28:05 PM

Dow Jones Home Construction (DJUSHB) 640.92 +1.05% ... reverses pre-FOMC losses.

Jeff Bailey : 6/29/2006 2:26:50 PM

Sell Program Premium ... SPY $126.46 : YM 11,213

Jeff Bailey : 6/29/2006 2:24:17 PM

Broker/Dealer Index (XBD.X) alert 209.96 +2.69% ...

Jeff Bailey : 6/29/2006 2:21:26 PM

Buy Program Premium SPY $126.40 : YM 11,195

Jeff Bailey : 6/29/2006 2:19:23 PM

Sell Program Premium ... SPY $125.95 : YM 11,170

Jeff Bailey : 6/29/2006 2:17:39 PM

FOMC Statement Link

Jane Fox : 6/29/2006 2:17:36 PM

* FOMC MAKES MAJOR CHANGES TO MAY 10 STATEMENT
* FOMC VOTE TO HIKE RATES UNANIMOUS
* SAYS CORE INFLATION HAS BEEN ELEVATED
* SAYS INFLATION RISKS REMAIN
* SAYS GROWTH IS MODERATING
* "ANY ADDITIONAL FIRMING" DEPENDS ON OUTLOOK

Jeff Bailey : 6/29/2006 2:16:47 PM

Buy Program Premium ... SPY $125.94 : YM 11,159

Jane Fox : 6/29/2006 2:16:38 PM

FOMC hikes rate to 5.25%, major changes to statement -

Jeff Bailey : 6/29/2006 2:16:20 PM

Fed raises 25 bp to 5.25%

Jeff Bailey : 6/29/2006 2:15:00 PM

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

Jane Fox : 6/29/2006 2:11:02 PM

I have the post that the FED rises interest rates all ready and waiting.

Jeff Bailey : 6/29/2006 2:10:37 PM

02:08 PM Market Watch found at this Link

Jane Fox : 6/29/2006 2:02:36 PM

F SHARES SET 52-WEEK LOW OF $6.17
AAP SHARES SET 52-WEEK LOW OF $28.90
HD SET 52-WEEK LOW OF 35.85
CA SET 52-WEEK LOW OF 20.51
SLE SET 52-WEEK LOW OF 15.92
TOL SET 52-WEEK LOW OF 25.10
PBY SET 52-WEEK LOW OF 10.86
RSH SET 52-WEEK LOW OF 14.09
PSUN SET 52-WEEK LOW OF 17.46

Jane Fox : 6/29/2006 1:46:58 PM

Q SET 52-WEEK HIGH OF $8.06
KMG SETS 52-WEEK HIGH OF $69.64
HES SETS 52-WEEK HIGH OF $52.11
AZN SHARES SET 52-WEEK HIGH OF $58.87
RBN SHARES SET 52-WEEK HIGH OF $25.29
ISH SHARES SET 52-WEEK HIGH OF $30.70

Jane Fox : 6/29/2006 1:44:08 PM

MCD is top percentage gainer in the dow shares up 3.3% to $33.01
BA is top percentage decliner in the dow shares off 1% to $81.80

Jane Fox : 6/29/2006 1:43:33 PM

* NYSE volume reaches 888.2m
* NYSE has 2,269 advancers vs 842 decliners w/ 162 issues unch
* NYSE has 33 issues setting 52-week highs
* NYSE has 136 issues setting 52-week lows
* NASDAQ volume reaches 961.6m
* NASDAQ has 1,936 gainers vs 983 losers w/ 111 issues unch
* NASDAQ has 39 issues setting 52-week highs
* NASDAQ has 92 issues setting 52-week lows

Jeff Bailey : 6/29/2006 1:38:30 PM

December Nat. Gas (ng06z) $9.65 down 2 cents.

Jeff Bailey : 6/29/2006 1:35:47 PM

Argentina, Bolivia OK New 20M Cubic Meter/Day Pipeline

DJ- Argentine President Nestor Kirchner and his Bolivian counterpart, Evo Morales, signed a series of accords Thursday dealing with an Argentine contract to purchase Bolivian natural gas.

The details of the agreement were not formally announced during a brief signing ceremony, held in the municipality of Hurlingham in Buenos Aires province.

However, an Argentine government spokesman who spoke to Dow Jones Newswires said the centerpiece of the agreement was a blueprint for building a new pipeline between the two countries.

This will bring on stream an additional 20 million cubic meters per day of gas to be piped into Argentina. That project, which is vital for Argentina's long-term energy needs, had stalled recently, in part because of uncertainty among private-sector energy companies over their legal situation in Bolivia with Morales's government nationalizing the country's gas resources.

Additionally, the spokesman said, the two countries agreed to a new price for the current 7.7 million cubic meters a day that Argentina receives from Bolivia. The agreement raises the price to $5 per million British thermal units from its previous $3.20 per million BTU. However, that price is only valid to the end of 2006.

After that, the spokesman said, the price for 2007 will be renegotiated, with adjustments foreseen to cover the costs of capacity expansions and the investments needed to boost the supply of gas from Bolivia.

When Bolivian President Evo Morales nationalized his nation's hydrocarbons industry on May 1, he called for the re-negotiation of all contracts within six months.

Jane Fox : 6/29/2006 1:30:17 PM

Yesterday I took a look at SLB from the long side. So far so good. Link

Jeff Bailey : 6/29/2006 1:24:05 PM

I think Dynamic Materials (BOOM) $31.85 +3.00% Link

Jeff Bailey : 6/29/2006 1:22:12 PM

Guess which position got stopped an a likely inflection low yesterday?

Jeff Bailey : 6/29/2006 1:21:36 PM

Sector Bull % Changes from Wednesday ... According to Dorsey/Wright and Assoc ... PRECious Metals reversed up to "bear correction" from "bear confirmed."

STEEl/Iron gained further strength improving from "bull alert" to "bull confirmed."

Jeff Bailey : 6/29/2006 1:14:12 PM

01:00 Internals found at this Link

Tab Gilles : 6/29/2006 1:06:13 PM

Jane, VDSI Vasco #7 on BusinessWeek list. Link Link

Jeff Bailey : 6/29/2006 1:05:28 PM

01:00 Market Watch found at this Link

Jeff Bailey : 6/29/2006 12:48:21 PM

AMR Corp. (AMR) $24.10 -1.35% ... yesterday, AMR was up and CAL down. A little look of rebalancing perhaps?

Jeff Bailey : 6/29/2006 12:47:33 PM

Continental Airlines (CAL) $26.84 (unch) ...

Jane Fox : 6/29/2006 12:17:41 PM

Vasco data (VDSI) shares rise 9.7% to $7.68 on volume 448,518 vs daily average 389,200 after deal w/ south Africa's Capitec
VDSI to supply digipass online id product to Capitec

Jeff Bailey : 6/29/2006 12:18:04 PM

Do I dare sell an out-the-money July $125 call? Or look for the "quick 6" to target of $120?

These are the questions market participants face with the Fed just ahead and end of quarter on Friday.

Jeff Bailey : 6/29/2006 12:16:00 PM

CBOT Holdings (BOT) $114.86 +3.68% moves into "zone of resistance" and has retraced 61.8% of its March-May decline (peak and closes) Link

Jane Fox : 6/29/2006 12:15:44 PM

Hi/fn (HIFN) shares advance 11.5% to $6.09 on volume 197,016 vs daily average 39,100 after co. discloses restructuring plan
* to close facilty in carlsbad, calif.
* cuts north american workforce by 45 employees
*: layoffs represent 22% of overall workforce
* sees annual cost savings of $6m-$7m from restructuring
* sees charge of $500,000 in June quarter
* sees charge of $600,000 in sept. Quarter
* sees return to positive cash flow, profits in fy07

Jane Fox : 6/29/2006 12:13:09 PM

Silicon image (SMIG) shares up 13.5% to $10.37 on volume 2.5m vs daily average 1.14m
* reconfirmed June quarter revenue view
* lifted low end of fy06 revs growth estimate
* now sees fy06 revs up 25%-30% previously projected fy06 revs up 20%-30%

Jane Fox : 6/29/2006 12:11:52 PM

Jeff yup I think you have a very valid point.

Jeff Bailey : 6/29/2006 12:09:33 PM

And that head might be covered with oil Jane.

Jane Fox : 6/29/2006 12:08:00 PM

What has me more and more convinced we are transitioning into a bear market is that when I have seen the internals as strong as they were this morning the bears never had a chance but today I see the bulls allowing the bears a head in the tent and they are trying their best to shove all the way in.

Jeff Bailey : 6/29/2006 12:07:19 PM

Continental Airlines Receives J.D. Power & Assoc. Award for Highest-Ranked Network Airline

Jane Fox : 6/29/2006 12:05:44 PM

* RBC Capital comments on GOOG online pay service launch
* RBC sees 100 merchants in initial GOOG checkout roll-out
* RBC: GOOG checkout has 'well-reasoned' release strategy
* RBC leaves outperform rating on GOOG w/ $465 price target

Jeff Bailey : 6/29/2006 12:04:30 PM

Boeing (BA) $82.04 -0.72% ... trading more like a speculative biotech than the aerospace giant that it is.

Jane Fox : 6/29/2006 12:03:54 PM

FDA delays approving Wyeth contraceptive - MarketWatch

Jeff Bailey : 6/29/2006 12:01:40 PM

August Crude (cl06q) alert $73.30 +1.53% ... challenges its 06/05/06 "doji" open/settlement of $73.34.

Jeff Bailey : 6/29/2006 12:00:00 PM

Iran Minister: Nuclear Proposal Review Not Finished Before August

DJ- Iran will need until August to complete its initial review of a package of incentives from key global powers meant to persuade to roll back its uranium enrichment program, the Iranian foreign minister said Thursday.

Foreign Minister Manouchehr Mottaki spoke hours after the United States, Russia and other industrialized nations said Thursday they expected Iran to reply to the offer by next week.

Mottaki said his nation was considering the proposal, which was presented in Tehran on June 6.

"The Islamic Republic of Iran is seriously and carefully reviewing the proposed package," he said. "The reviews will be done carefully."

Jeff Bailey : 6/29/2006 11:58:21 AM

Continental Airlines (CAL) $27.00 +0.59% ...

Jeff Bailey : 6/29/2006 11:55:17 AM

AMR Corp. (AMR) $24.15 -1.14% ... edges to session low.

Jeff Bailey : 6/29/2006 11:54:01 AM

SPX Option Chain (most actives) at this Link

Tab Gilles : 6/29/2006 11:52:05 AM

$COMPQ/ $NALOW/ $NASI Link Link Link Link

Jane Fox : 6/29/2006 11:49:26 AM

* Citigroup comments on Google's (GOOG) online pay service launch
* service could be material rev source for GOOG
* Citigroup sees GOOG checkout as negative for Ebay's paypal
* Citigroup has buy rating on GOOG w/ $550 price target


Tab Gilles : 6/29/2006 11:47:23 AM

Murphy Oil (MUR) is once again testing resistance at the $54 level. Link Link

Jane Fox : 6/29/2006 11:44:26 AM

U.S., JAPAN AGREE ON NEED TO REMAIN UNITED ON N. KOREA

Jeff Bailey : 6/29/2006 11:44:05 AM

VIX 14.95 -5.31% ... session low not quite to WEEKLY S1. My QCharts' WEEKLY S1= 14.52.

Hmmm... that sell program premium at 11:11:12 almost an exact match with intra-day low in VIX.

Jeff Bailey : 6/29/2006 11:41:11 AM

Current OPEN MM Profiles found at this Link

Jane Fox : 6/29/2006 11:39:59 AM

Dateline CNN The government says a stolen laptop containing personal information for up to 26.5 million veterans has been recovered.

Jeff Bailey : 6/29/2006 11:36:12 AM

Sell Program Premium SPY $125.55 : YM 11,135

Jeff Bailey : 6/29/2006 11:35:40 AM

Garmin Ltd. (GRMN) $104.42 +2.07% Link ... a new 52-weeker and all-time high.

Jeff Bailey : 6/29/2006 11:31:55 AM

On 06/15/06 and very similar SPX 1,257 levels of trade, SPX NL/NL reading was 4:2

Jane Fox : 6/29/2006 11:31:36 AM

NEW YORK, June 29 (Reuters) - The number of help-wanted ads in U.S. newspapers fell in May, a private research group said on Thursday.

The Conference Board said its gauge measuring help-wanted ad volume in the United States was 33 in May, down from 35 in April. The index was 38 a year ago.

"Businesses remain cautious about hiring when near-term economic prospects appear soft," said Ken Goldstein, labor economist at the Conference Board, in a statement. "This is certainly a more negative picture going into the second half of the year, compared to the beginning of the year."

Help-wanted ads declined in all nine regions, with West South Central, West North Central and Pacific showing the biggest declines, the Conference Board said.

Jeff Bailey : 6/29/2006 11:30:05 AM

SPX NH/NL 8:3

Jeff Bailey : 6/29/2006 11:29:16 AM

11:00 Internals found at this Link ... Current NASDAQ NH/NL readings strong enough to have 10-day NH/NL ratio reversing up to 24%.

Jeff Bailey : 6/29/2006 11:11:12 AM

Buy Program Premium ... SPY $125.90 : YM 11,159

Jane Fox : 6/29/2006 11:07:25 AM

CON-WAY (CNW) NOTIFIED OF GM INTENT TO ENTER INTO VECTOR TALKS

Jeff Bailey : 6/29/2006 11:04:52 AM

11:00 Market Watch found at this Link

Jeff Bailey : 6/29/2006 11:01:10 AM

Boeing (BA) $83.34 +0.84% ... reversing losses.

Jeff Bailey : 6/29/2006 11:00:48 AM

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

Jane Fox : 6/29/2006 10:52:54 AM

Futures Movers:Crude tops $73, set for seven-session win

Jane Fox : 6/29/2006 10:52:32 AM

NYSE ADVANCERS OUTNUMBER DECLINERS 24 TO 5

NASDAQ ADVANCERS OUTNUMBER DECLINERS 21 TO 6

Jane Fox : 6/29/2006 10:50:13 AM

FREDDIE MAC: 30-YR MORTGAGE AVERAGES 6.78% VS 6.71%

FREDDIE MAC: 15-YR MORTGAGE AVERAGES 6.43% VS 6.36%

FREDDIE MAC: 1-YR ARM AVERAGES 5.82% VS 5.75%

Jane Fox : 6/29/2006 10:47:10 AM

NYSE MOST ACTIVE STOCKS: THC NT F MU XOM

NAZ MOST ACTIVE STOCKS: QQQQ MSFT JDSU INTC RHAT

Jane Fox : 6/29/2006 10:45:49 AM

BEDFORD, Mass., June 29, 2006 /PRNewswire-FirstCall via COMTEX/ -- RSA Security Inc. (Nasdaq: RSAS) issued today the following statement: While it is our policy not to comment on rumors, this statement is made in response to a report appearing in today's New York Times concerning the potential sale of the company. RSA Security is currently engaged in negotiations with parties regarding a potential strategic transaction. No definitive agreement has been reached. There can be no assurance that any agreement will be reached or that a transaction will be consummated. We do not plan to make future announcements with respect to this process unless and until our Board has approved a specific transaction and we have entered into a definitive agreement.

RSA SECURITY SHARES JUMP 15% AS TRADING RESUMES SHARES UP $2.81 AT $22.17

Jeff Bailey : 6/29/2006 10:40:49 AM

Continental (CAL) $27.12 +1.04% Link ...

Jeff Bailey : 6/29/2006 10:39:57 AM

AMR Corp (AMR) $24.43 (unch) Link ...

Jane Fox : 6/29/2006 10:38:18 AM

Here is what I found on RHAT.

Boston, Jun 28, 2006 (MidnightTrader via COMTEX) -- Red Hat (RHAT): Stock slumped hard at the start of night trade, sliding from 24.86 to its early low 23.02. Buyers rolled in with hefty upside liquidity off this drop, ramping the issue from 23.10 to 24.50. It maintained a negative range of 24.50 to 24.20 for much of its first-half evening trade. The company's guidance sent the issue slumping even lower at the mid-session, dropping it from 24.12 to its after-hours bottom of 22.96. Buyers again flexed their muscle at this bottom and drove RHAT to a late high of 24.15. It held to a range of 24.15 to 23.70 through the bulk of its second-half evening trade. After-hours indications would suggest a potential pre-market open near 24 to 23.70.

Jeff Bailey : 6/29/2006 10:35:17 AM

EIA Weekly Nat. Gas Storage Table Link

Jane Fox : 6/29/2006 10:34:55 AM

IPO Report:Aventine Renewable loses steam in open market

Jane Fox : 6/29/2006 10:34:23 AM

AVENTINE RENEWABLE (AVR) IPO TRADES AT $41.50, BELOW $43 PRICE

Jeff Bailey : 6/29/2006 10:33:28 AM

Chesapeak Energy (CHK) $29.87 +0.70% ... well off session high of $30.17.

Jeff Bailey : 6/29/2006 10:32:12 AM

EIA Weekly Nat. Gas Storage up 66BCF

Jeff Bailey : 6/29/2006 10:22:45 AM

US SAYS BP MANIPULATED PROPANE PRICES

DJ- Federal investigators charge that traders at the global energy giant secretly and illegally cornered part of the U.S. propane market in early 2004, driving up heating and cooking costs for millions of mostly rural Americans.

BP $67.97 (unch) Link

Jeff Bailey : 6/29/2006 10:19:38 AM

eBay (EBAY) $29.07 +1.11% Link ... owns PayPal

Jane Fox : 6/29/2006 10:19:06 AM

Dateline WSJ The Supreme Court ruled that President Bush overstepped his authority in plans or war crimes trials at Guantanamo Bay. More details are expected shortly.

A former driver for Osama bin Laden may help decide the fate of dozens of Guantanamo Bay detainees, and perhaps all of them, as the Supreme Court rules on his legal challenge to the first U.S. war crimes trials since World War II.

The court considered a range of issues in Salim Ahmed Hamdan's case, including whether President Bush had the authority to order military trials for men captured in the war on terror and sent to the Navy base at Guantanamo Bay, Cuba.

President Bush recently suggested the ruling will help him determine what should be done with all the prisoners at Guantanamo, where the U.S. holds about 450 men on suspicion of links to al Qaeda or the Taliban.

Jeff Bailey : 6/29/2006 10:18:46 AM

GOOGLE READY TO ROLL OUT ONLINE PAYMENT SERVICE

DJ- Google is set to unveil a much-anticipated payment service that aims to make online shopping more convenient and give advertisers another reason to pour more money into the Internet search leader.

GOOG $408.89 +0.68% Link

Jeff Bailey : 6/29/2006 10:16:27 AM

US WANTS IRAN ANSWER ON NUCLEAR PLAN BY JUL 5

DJ- U.S., Russia and other industrialized democracies say they want Iran to answer 'yes' or 'no' next week to an international offer to bargain over Tehran's nuclear program. The meeting between E.U. and Iran is scheduled for July 5.

Jane Fox : 6/29/2006 10:13:40 AM

Dateline WSJ The Supreme Court rules President Bush overstepped his authority in plans for war-crimes trials at Guantanamo Bay. Full story to follow shortly.

Jane Fox : 6/29/2006 10:12:31 AM

* RSA SECURITY (RASA) IN TALKS WITH PARTIES ON STRATEGIC TRANSACTION
* RSA SECURITY SAYS NO DEFINITIVE AGREEMENT REACHED
RSA Security shares halted; co. acknowledges talks

Jeff Bailey : 6/29/2006 10:12:19 AM

MONSANTO 3Q NET SOARS ON WRITEOFF

DJ- Seed and herbicide maker reports net income of $334 million, or $1.21 a share, as big writeoff hurt year-earlier results. Revenue climbs 15% to $2.35 billion. Analysts expected EPS of $1.20 on sales of $2.23 billion.

MON $78.10 +1.90% Link

Jane Fox : 6/29/2006 10:09:57 AM

NASDAQ ADVANCERS OUTNUMBER DECLINERS 18 TO 5

NYSE ADVANCERS OUTNUMBER DECLINERS 19 TO 3

Jeff Bailey : 6/29/2006 10:09:02 AM

Red Hat (RHAT) $22.59 -9.70% Link ... Q1 Earnings Link

Jeff Bailey : 6/29/2006 10:05:40 AM

MERRILL LYNCH UPS MCDONALD'S TO BUY

DJ- Merrill Lynch upgrades fast-food chain to buy, citing upside from re-franchising and potential higher sales and margins, especially in Europe. Broker also sees benefit from increased dividends and buybacks.

MCD $32.87 +2.81% Link

Jeff Bailey : 6/29/2006 10:02:16 AM

10:00 Market Watch found at this Link

Jeff Bailey : 6/29/2006 9:58:09 AM

Most Actives ... QQQQ $38.08 +0.71%, IWM $69.44 +1.22%, SPY $125.54 +0.63%, MSFT $23.47 +1.33%, RHAT $22.10 -11.78%

Jeff Bailey : 6/29/2006 9:50:43 AM

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

Jane Fox : 6/29/2006 9:45:42 AM

Neoware (NWRE) down 41% at $12.01
Merix (MERX) up 15% at $10.59
red hat (RHAT) down 10% at $22.47
Tenet healthcare (THC) up 6.9% at $7.73
ATI technologies (ATYT) down 7.4% at $14.35


Jane Fox : 6/29/2006 9:10:03 AM

FOMC MEETING RESUMED AT 9 A.M., SPOKESWOMAN SAYS

Jane Fox : 6/29/2006 8:57:41 AM

GMARKET (GMKT) IPO PRICES AT $15.25, THEFLYONTHEWALL SAYS

Jane Fox : 6/29/2006 8:57:17 AM

FDA approves Bristol-Myers leukemia drug Sprycel - MarketWatch

Jane Fox : 6/29/2006 8:55:13 AM

DAteline WSJ Initial jobless claims increased by 4,000 to a seasonally adjusted 313,000 in the week ending June 24, the Labor Department said Thursday.

New claims for the week ending June 17 were 309,000, revised from a previously reported 308,000.

The Labor Department said there no special factors in the latest week.

The claims numbers were broadly in line with Wall Street expectations. The median estimate of 14 economists surveyed by Dow Jones Newswires and CNBC had projected jobless claims would rise by 2,000 in the latest week, to 310,000.

Numbers for the past four weeks mark an improvement from May and are more in line with February and March claims figures, when job creation was stronger compared to last month. Payrolls expanded by a weaker-than-expected 75,000 in May, and June claims figures point to a higher gain this month.

Jane Fox : 6/29/2006 8:45:44 AM

For any of you who do not follow the futures side, I post charts of the futures each morning so you can see the overnight action.

Jane Fox : 6/29/2006 8:42:32 AM

Dateline WSJ WASHINGTON -- The U.S. economy raced even faster early this year than previously thought, but two gauges measuring inflation were lowered, the government said Thursday.

Gross domestic product rose at a 5.6% annual rate January through March, the Commerce Department said Thursday. A month ago, Commerce estimated GDP grew by 5.3%.

Corporate profits were adjusted much higher, while gauges within the report indicated prices rose less than earlier believed, the report showed.

The reason for the upward adjustment to GDP was that imports didn't increase as much as earlier thought. "The upward revision to real GDP mainly reflected a downward revision to imports," Commerce said.

The 5.6% seasonally adjusted gain in GDP was much bigger than the fourth quarter's 1.7% push forward, and it marked the fastest pace of growth since the economy grew 7.2% in the third quarter of 2003.

The median estimate of 22 economists surveyed by Dow Jones Newswires and CNBC was a 5.6% increase in first-quarter GDP, a measure of all goods and services produced in the economy.

Jane Fox : 6/29/2006 8:38:48 AM

The May Help Wanted Index is to be released at 10:00 not at 8:30 like I stated last night. The WSJ got me again.

Jane Fox : 6/29/2006 8:36:43 AM

* Continuing claims rise by 54,000 to 2.41 million
* Initial jobless claims rise by 4,000 to 313,000

Jane Fox : 6/29/2006 8:36:01 AM

* Q1 durable goods spending up 20.3%
* Q1 final sales up 5.9%
* Q1 equipment, software investment up 14.8%
* Q1 corporate profits up 28.5% year-over-year
* Q1 business investment up 14.2%
* Q1 consumer spending rises 5.1%
*. Q1 core pce prices up 2%, up 1.9% y-o-y

Jane Fox : 6/29/2006 8:35:23 AM

* Q1 GDP revised to 5.6% vs. 5.3% earlier, 5.5% expected

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