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OI Technical Staff : 7/7/2006 9:59:59 PM

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Jeff Bailey : 7/7/2006 9:59:07 PM

EIA Weekly Nat. Gas Inventory Table found at this Link ... The "blue" prices are the end of WEEK price for the Continuous Nat Gas ($NATGAS) where that week's closing bar would be very close to matching the WEEKLY EIA Inventory date.

Jeff Bailey : 7/7/2006 8:53:58 PM

I like it too Marc. As long as the technicals confirm the bias.

Marc Eckelberry : 7/7/2006 8:47:27 PM

Also add the UBS note which lowers estimates but keeps a buy and 23 target. When analysts do that, they are setting up an earnings "beat".

Marc Eckelberry : 7/7/2006 8:54:06 PM

I like it when Tab gets behind a stock (INTC). The 200 dma is also right above the February gap at 21.35. Add 100% June projection at 21.89, and 50% retrace 2006 at 21.69, lots of magnets there. Support at 18.25 (20 dma) is key, but we also held 50 dma (18.54) today. 14P RSI is also holding above 50 for now. Disclosure: I am long 60 January 17.50 calls. Link

Jeff Bailey : 7/7/2006 8:41:31 PM

YM recap 5-minute interval chart at this Link

Beautiful "TICK fade" at YM 11,223 (FM- 10:13:37 AM EDT)!

Jeff Bailey : 7/7/2006 8:21:43 PM

Current OPEN MM Profiles found at this Link

Today's Activity

Stocks/Options

Today's Weekly EIA Nat. Gas Inventory build and resulting market reaction had me deciding to Close Out/Buy Back the two (2) naked Chesapeake Energy CHK July $30 Puts (CHK-SF) at the offer of $1.00. ($-0.20/contract, or $-40.00).

Swing traded put two (2) of the NVIDIA Corp. NVDA Aug $20 Puts (UVA-TD) at the offer of $1.75. No stop for now, target $15.00 in the underlying.

Stock/Option Trade Blotter of CLOSED Trades at this Link

The "yellow" QCB-GG was an initial Covered Call for a 6/20/06 1/2 bullish trade in BOOM.

YM Futures

Jane is trading the YM over on the futures side. I'll continue to post Pivot Matrix and charts from time-to-time, but will not duplicate duties at this time. I'll spend more time looking at stock/option trades again! Hmmm... If I think I see a 50+ point YM trade, I might profile it.

Jeff Bailey : 7/7/2006 7:43:55 PM

Closing Market Watch found at this Link

Jeff Bailey : 7/7/2006 7:21:55 PM

CHK Question: Jeff: What do you think about the CHK October 27.5 puts here at 1.45???

Reply: Hmmmm... can't say that it "winds my clock", or that I like that trade.

I keep hearing that CHK has hedged this year's production at $7.00/btu, which then has me thinking that CHK could/should be a "dead money" or little movement type of trade.

If you're thinking "Jeff closed out the naked put trade, so he might be bearish CHK," you are somewhat correct. But from the RISK management side of things (naked put).

As I look at spot prices and forward natural gas futures, CHK's $7.00 hedge doesn't look too bad, but the continued decline in near-term prices simply has me wanting to AVOID the RISK of a NAKED put trade.

For an October $27.50 long put play, your asking me (or I'm asking myself) this ....

1) What are the chances of CHK trading $27.50 - $1.45 = $26.05, on or before October expiration?

2) My (Jeff Bailey's) mindset is that there should be some type of "acquisition target" bid and hurricane season is near. I tend to agree with James Cramer. Don't BET BIG on an acquisition or the weather! Still. These are things I think of from the BEAR side.

3) If 2006 production is hedged at $7.00/btu, then prices really need to fall down the proverbial well bore and have market particpants looking at "below $7.00/btu for 2007" that CHK can't, or hasn't been able to hedge.

So ... I'm not really thinking of a DIRECTIONIAL play on CHK at this point.

Jeff Bailey : 7/7/2006 7:21:29 PM

Natural Gas Questions: Some traders and investors are really thinking and remembering.

I haven't been able to track national temperatures (I've used my air conditioning once this summer here in Denver and it seems cooler than usual), but yes! As "the great bull market" was about to unfold in early 2003, I mentioned that Natural Gas would be a key commodity that we should be keeping an eye on. A commodity HEAVILY used by industry should production/capacity start coming back online, signaling the end of the recession.

In my opinion (based on observation), forward Nat. Gas futures prices still depict the "expanding economy" scenario. "Hyper growth" that comes after a recession? No!

Maybe some hurricane premium ($5.53 today and $9.98 Jan07), perhaps winter seasonality.

I can perhaps "understand" the massive builds in inventory. When I worked for Mobil Oil, my last station of duty was the massive Hugoton Gas Field. At that time (late 80's to early 90's) Mobil, Amoco, every major was getting out of the Rocky's as Nat. Gas prices were at historic record lows and to make money, or break even, the strategy was BIG FIELDS. $18 oil was break even too, but if you could hit well high in the Rocky's and develop a field, it was worth the risk.

My point, or thoughts to Nat. Gas is that its "production costs" are much lower than oil. Especially if you hit a new field, even a small one (compared to Hugoton).

One dynamic that usually takes place in a "free economy" like we have here in the U.S. is that capital flows to what I like to think of as "the most with the least." That is .... where I can I make the MOST money with the LEAST AMOUNT OF CAPITAL RISK?

Every well our group at Mobil wanted to drill (oil or gas) had a complex set of measures (probability of hitting, drill costs, production costs, and best case, worst case market pricing structure) and each quarter, every domestic team would present to management their drilling program. Of course, we had a much smaller drilling program in the U.S. that our foreign offices did, as it was a lot harder to find something here in the U.S. than in other parts of the world. So, limited funds for drilling in the U.S., so make your best case to management and those with the best "economics" got the funds to drill, and most likley, keep their jobs! I lasted 7 years (lost track on how many layoffs) and helped turn off the lights in Denver! We had a very good team of geologists and engineers and our manager was second to none when it came time to go to Fairfax and ask for money!

What I do think has taken place in the Nat. Gas industry is that prices got "so favorable" that everyone and their brother/sister came to the party (most with least) and just like a cycle, PRODUCTION has ramped after so much was shut in.

Subscribers will remember my "interview" with Apache Corp. years ago, where the head of their production management returned a phone call I had left for him. Yes! I was surprised that he would return a phone call well after business hours, but his comments of "industry has shut in just about all it can and still stay in business, and I think prices have hit their lows and should start to firm at $2.50."

That combined with the reverse h/s pattern on APA was all it took! You can still see it! Neckline at $30! We exited a little soon didn't we? No! You can NEVER take a profit too soon says the trader in me.

So what happens now?

What tends to happen is that after a major PRICE expansion is that you begin to see a "bigger the better" mentality take hold.

ACQUISITIONS create the bigger the better theme.

I think this decline in natural gas prices is going to find some merger activity. There will be "smaller" producers that find their cost structure at $9/btu that hasn't been hedged will force them to find a BIGGER partner. Kind of like "hey, we've got some gas in the ground, but we're just not big enough to produce it."

The BIGGER acquirer that I think is "smart" will nip away at an acquisition, but the BIG MISTAKE or BIGGEST RISK is embarking on a MASSIVE ACQUISITION strategy at this point.

What "gets me" of late is all the talk that world production has peaked, and that we haven't found any big reserves in years, and oil/nat gas is where you want to be.

One side of me (bearish side) thinks "do I want to be full-to-the-gill in an industry/company that isn't finding any reserves and as those reserves decline, the tangible, or intangible (is the reserve there, or as big as I think/say it is) falls at a faster rate than the rise of the PRICE of what I'm producing?.

This (above) is a portion of my "mindset" as I'm looking at charts of the energy complex (Oil producer, nat gas producer, energy service).

Jeff Bailey : 7/7/2006 5:23:01 PM

Closing Internals found at this Link

I made some quick observations regarding the VIX.X today and all-be-darned if it doesn't finish so close to 14.00.

That 14.00 sticks in my mind from several quarters ago, when an institutional floor trader in Chicago said he and his clients were SELLERS of premiums above that level. For weeks, if not months, VIX.X would "spike" to, or above 14.00, say to 17/18, but then reverse course back lower.

With the NASDAQ once again testing lows, and having seen the VIX.X as high as +22/+23 of late, I'm "tuned in" on what this indicator is saying not only about investor sentiment, but possibly a change of thought from INSTITUTIONS.

Jane Fox : 7/7/2006 4:28:15 PM

Have a great weekend everyone.

Jane Fox : 7/7/2006 4:19:38 PM

Economic Reports for Monday July 10th:
10a.m. May Wholesale Inventories. Previous: +0.9%.

3p.m. May Consumer Credit. Previous: +$10.6 Bln.

Jeff Bailey : 7/7/2006 4:11:19 PM

Buy Program Premium ... SPY $126.63 : YM 11,160

Tab Gilles : 7/7/2006 4:04:50 PM

Thomas Ko, CNBC Investor Challenge winner and now on Strategy Lab latest recommendation. [Note, I'm not recommending this stock, just found of interest and posting.FYI] Link Link

Jane Fox : 7/7/2006 4:03:24 PM

RUSSELL 2000 PRELIM CLOSE: 709, DOWN 11 POINTS

S P 500 PRELIM CLOSE: 1,265, DOWN 9 POINTS

NASDAQ COMPOSITE PRELIM CLOSE: 2,130, DOWN 25 POINTS

DOW INDUSTRIALS PRELIM CLOSE: 11,090, DOWN 135 POINTS

Jeff Bailey : 7/7/2006 3:57:02 PM

I don't have my laptop up and running, but if memory serves me correct, I bought some MO calls back in December (mentioned it in MM somewhere) and they went "poof." I'm long again and looking for DIVERGENCE in the technicals, from very SIMILAR news.

Jeff Bailey : 7/7/2006 3:54:05 PM

Altria (MO) $77.65 -0.15% ... here's a WEEKLY INTERVAL bar chart. Trader's can go to a DAILY, but here is the technical test (similarity/divergence) Link

Jeff Bailey : 7/7/2006 3:16:26 PM

SPX NH/NL 8:16

Most NL of late were found on 06/27/06 with closing 6:23

Most NH of late were found on 6/30/06 with closing 22:9. Monday 07/03/06 was 1/2 session, but price gains found NH/NL just 15:4

Jeff Bailey : 7/7/2006 3:13:24 PM

03:00 Internals found at this Link

Jeff Bailey : 7/7/2006 3:02:51 PM

03:00 Market Watch found at this Link

Jeff Bailey : 7/7/2006 2:58:11 PM

VIX.X alert 14.30

Jeff Bailey : 7/7/2006 2:57:21 PM

Hey ... "they" got me on BOOM, no rules for NVDA is a day trader's thought.

Jeff Bailey : 7/7/2006 2:56:01 PM

NVIDIA (NVDA) $19.23 -3.80% ... sets up for Red #2. Might be some bull stops under 06/28/06 relative low of $19.12 that "need" to be triggered.

Jeff Bailey : 7/7/2006 2:34:17 PM

Might be able to create our own "dividend" next week in MO.

Jeff Bailey : 7/7/2006 2:29:28 PM

Take-Two Interactive (TTWO) $10.16 -0.58% ... still holding above our close out puts low.

Jeff Bailey : 7/7/2006 2:27:19 PM

September still at $70.

Jeff Bailey : 7/7/2006 2:26:57 PM

August's rose to $75

Jeff Bailey : 7/7/2006 2:26:32 PM

Hmmmm ... MO's July "Max Pain" rose to $75.

Jeff Bailey : 7/7/2006 2:24:07 PM

It is an "on again, off again" response to further FOMC activity from the bond market. 10-year down 5.3 bp at 5.132% after this morning's jobs data.

Jeff Bailey : 7/7/2006 2:22:31 PM

Continental Airlines (CAL) $31.05 +2.40% ... if there's a "story" to be told here, with observation of BA and notes from other airlines regarding unwillingness to add capacity, it is that the non-discounters are going to limit capacity (new planes/routes) and live with higher fuel costs, but try and pass on to traveler.

Discounters that try and keep prices low fight fuel prices right now/still.

Jeff Bailey : 7/7/2006 2:16:10 PM

Dow Components (sorted by price) at this Link

Jeff Bailey : 7/7/2006 2:09:06 PM

Altria (MO) $77.50 -0.37% ... One test I had today was for some follow-through.

MMM $74.57 -8.37% and its "flat-screen" trends dampen things today.

Yes ... MO now #2 weight for INDU/DIA/YM ... MMM #4.

Jeff Bailey : 7/7/2006 2:05:17 PM

Are you seeing some "option-like" trade today? Stocks trading right at a strike, or seemingly gravitating in the middle of strikes? Especially $5 increment strikes?

Two weeks until July expiration. Seems a little earlier than usual.

Jeff Bailey : 7/7/2006 2:03:18 PM

Oracle (ORCL) $14.91 +2.82% Link ... bucking the 4-lettered trend.

Had a positive/bullish quarterly report as I remember.

Jeff Bailey : 7/7/2006 1:57:24 PM

Hmmmm ... not enough "letters" in the stock symbol Link ... GLW $22.25 -4.25%

Jane Fox : 7/7/2006 1:55:25 PM

* NYSE VOLUME 846.2M
* NYSE HAS 1,498 ADVANCERS
* NYSE HAS 1,679 DECLINERS
* NYSE HAS 153 ISSUES UNCHANGED
* NYSE HAS 44 ISSUES SETTING 52-WEEK HIGHS
* NYSE HAS 38 ISSUES SETTING 52-WEEK LOWS
* NASDAQ VOLUME 1.06B
* NASDAQ HAS 1,047 GAINERS
* NASDAQ HAS 1,855 OSERS
* NASDAQ HAS 150 ISSUES UNCHANGED
* NASDAQ HAS 29 ISSUES SETTING 52-WEEK HIGHS
* NASDAQ HAS 55 ISSUES SETTING 52-WEEK LOWS

Jeff Bailey : 7/7/2006 1:55:17 PM

NVIDIA (NVDA) $19.50 -2.45% Link ... "O" gets the square.

Jeff Bailey : 7/7/2006 1:53:13 PM

Another "old friend" we made BULLISH money on from mid-teens Link .... Bear Vertical Count suggests it might be headed back that way.

Jeff Bailey : 7/7/2006 1:50:54 PM

Hmmmm... coverd that short right in here at $79.00 (looking at my trade blotter)

Jeff Bailey : 7/7/2006 1:50:03 PM

How about this "old friend" .... Link

Rig count observation from several weeks ago 06/08/06 bear profile from $84.20 worked out nice.

Jeff Bailey : 7/7/2006 1:47:57 PM

Good question .... and I'm looking for the trade.

Jeff Bailey : 7/7/2006 1:47:10 PM

If I had ONE word of advice for traders/investors in the oil/gas PRODUCTION sectors, it would be to utilize OPTIONS, if playing the downside.

I do think we will see continued MERGER activity in the sector.

SHORTING the UNDERLYING presents a greater RISK to capital. LIMIT THE RISK with an option.

Jeff Bailey : 7/7/2006 1:44:47 PM

Devon Engy (DVN) $61.67 -0.21% ... backfills its "James Cramer" gap

Jeff Bailey : 7/7/2006 1:37:56 PM

SPX NH/Nl 5:13 ... Daily Ratio and 5-day ratio more like the NASDAQ

Jeff Bailey : 7/7/2006 1:35:35 PM

01:00 Internals found at this Link

Jeff Bailey : 7/7/2006 1:21:33 PM

OIH $146.34 -1.40% ... WEEKLY Pivot right here at $146.21.

Jeff Bailey : 7/7/2006 1:20:50 PM

While CHK has reportedly hedged their Nat. Gas production at $7.00, I'm not willing to take the RISK of $27.50.

OIH -1.59% has services weak too. Not just OIL service, Nat. Gas service too.

Jeff Bailey : 7/7/2006 1:17:58 PM

Swing trade Naked Put CLOSE OUT alert ... I'm seeing some negative developments here and not worth the RISK.

Close out at the OFFER of $1.00

CHK $29.51 -1.07% ...

Jeff Bailey : 7/7/2006 1:04:01 PM

01:00 Market Watch found at this Link

Tab Gilles : 7/7/2006 12:56:09 PM

Intel (INTC)$18.85

Back on 6/19 12:11PM I'd pointed out that Intel appeared to be forming a bottom. News today that Advanced Micro Devices (AMD $23.39) said it expects 2Q sales to decline 9% sequentially to about $1.22 billion, below the company's previous estimate of "flat to slightly down." AMD said it had record sales of its Opteron chip used in servers, but sales of microprocessors for desktop and laptop PCs were down. The maker of microprocessors did not provide additional details, but analysts said an apparent slowdown in demand and recent price cuts by Intel to regain lost market share may be forcing AMD to reduce prices. If so then a turn around for the stock price is possible. Link Link

Jane Fox : 7/7/2006 12:43:23 PM

Dateline WSJ GM announced that its board endorsed a recommendation by senior management that the auto maker engage in "exploratory discussions" with Renault and Nissan about a possible alliance. At the same time, GM said the board "continues to fully support" GM's current North American turnaround strategy.

Jeff Bailey : 7/7/2006 12:41:10 PM

QQQQ $38.11 (unch) ...

Jeff Bailey : 7/7/2006 12:39:49 PM

GM To Proceed With Exploratory Talks With Renault, Nissan

DJ- General Motors Corp.'s (GM) board said Friday it has endorsed a senior management recommendation to engage in exploratory discussions with Renault and Nissan Motors (NSANY) regarding a potential alliance among the three companies.

"We will enter into discussions with the managements of Renault and Nissan with an open mind - eager to hear their ideas of how an alliance between our companies might work to our mutual benefit," said Rick Wagoner, GM's chairman and chief executive, in a statement.

Wagoner will lead the Detroit-based carmaker's effort to conduct talks with the managements of Renault and Nissan.

Earlier in the week Tracinda Corp., one of GM's biggest shareholders, proposed the company enter into an alliance with Renault and Nissan.

GM added in its statement that it will stay focused on implementing its North American turnaround strategy.

Jeff Bailey : 7/7/2006 12:36:17 PM

Headlines continue to come in on GM. Looks as if company will begin serious talks with Renault, Nissan "with an open mind."

GM $29.88 +2.32%

Jeff Bailey : 7/7/2006 12:34:14 PM

Just saw that too Jane.

Jane Fox : 7/7/2006 12:30:15 PM

GM's board endorsed a recommendation by the company's management that it engage in exploratory discussions with Renault and Nissan. Full article coming soon.

Jeff Bailey : 7/7/2006 12:29:18 PM

Yahoo! (YHOO) $32.78 -0.99% ...

Jeff Bailey : 7/7/2006 12:28:48 PM

Google (GOOG) $427.18 +0.94% ...

Jeff Bailey : 7/7/2006 12:28:05 PM

Baidu.com (BIDU) $91.45 +4.46% ... bears feel'n some heat here.

Jeff Bailey : 7/7/2006 12:26:06 PM

Did you have a relaxing 4th Tab?

Jeff Bailey : 7/7/2006 12:21:41 PM

S&P Banks (BIX.X) 376.51 +0.54% ... probes Monday's highs.

Jeff Bailey : 7/7/2006 12:15:17 PM

Consumer Discretionary (XLY) $33.30 +0.45%% Link ... 25,000 block as Tab show up!

Jane Fox : 7/7/2006 12:07:48 PM

I just nabbed 3 STKL December 7.5 options at $3.30. I have a stop on these if STKL reaches 8.50.

Jeff Bailey : 7/7/2006 12:01:42 PM

Shoot! Missed that one Jane (11:31:52) ... didn't even cross my mind (and it should have) with EBAY Link

Tab Gilles : 7/7/2006 12:01:06 PM

Murphy Oil (MUR) As indicated on 7/5/06 3:42PM post, that engulfing candle has indeed played out as MUR continues to rally.

Continue using 10-ema(now 1st trailing stop) and the $54 support level and secondary stop. Price Objective $60. Link Link

Jeff Bailey : 7/7/2006 11:52:52 AM

Italy Deficit To Fall Below 3.0% of GDP In 2007

DJ- Italy will comply with the euro-zone's fiscal rules by next year, Economy Minister Tommaso Padoa-Schioppa said Friday.

Italy, the large euro-zone economy with the worst deficit and debt ratios, will bring its budget deficit to below 3.0% of gross domestic product next year, the minister said.

"The year in which the deficit will be below 3.0% is 2007," Padoa-Schioppa said at a press conference after the government approved a multi-year planning document to be used as a blueprint for the annual budget bill.

Jeff Bailey : 7/7/2006 11:50:30 AM

President Bush: U.S. Had Reasonable Chance of Shooting Down N. Korean Missile

DJ- President George W. Bush acknowledged Friday that the U.S.'s anti-ballistic missile defense system is "modest," but said military officials told him there was a "reasonable" chance a missile recently launched by North Korea could have been shot down.

Bush, briefing local and national reporters in Chicago, repeated his intention to find a diplomatic solution to the crisis over North Korea's missile tests, saying any resolution passed by the U.N. Security Council must send a "clear message" to North Korean leader Kim Jong Il.

Jeff Bailey : 7/7/2006 11:41:34 AM

SPY $127.51 +0.04% ... gets green above DAILY Pivot!

Jeff Bailey : 7/7/2006 11:38:56 AM

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

Jane Fox : 7/7/2006 11:31:52 AM

Sohu.com (SOHU) shares down 8.4% at $23.71 on lowered revenue forecast

Jane Fox : 7/7/2006 11:30:02 AM

NEW YORK (MarketWatch) -- Gordon Biersch Restaurant Group is the sole initial public offering on the calendar for this holiday-shortened week after the beer-oriented chain pulled back on its IPO plans earlier.

Jane Fox : 7/7/2006 11:28:02 AM

NYSE MOST ACTIVE STOCKS: AMD Q MMM GLW EWJ

Jeff Bailey : 7/7/2006 11:26:46 AM

I see I was filled at $1.73 on the UVA-TD currently $1.70 x $1.75 with NVDA $19.60

Jane Fox : 7/7/2006 11:24:18 AM

I am throwing a $3.20 bid out there for 3 STKL Dec 2006 7.50 (UVDLU).

Jane Fox : 7/7/2006 11:19:26 AM

SunOpta Inc. (STKL) today announced that the company has signed a Joint Development Agreement with Royal Nedalco, based in the Netherlands, one of the largest ethanol suppliers in Europe. Under this agreement, SunOpta will license Nedalco's patented pentose fermenting yeast for the production of cellulosic ethanol in North America and will work with Nedalco to include SunOpta's technology and systems.

I like this chart and a long at around $9.00 would be nice however, I have always had a hard time measuring dips to buy so you could also buy at a break of yesterday's high or just go long here with a stop at the red dotted 100 EMA. Link

Jeff Bailey : 7/7/2006 11:06:13 AM

11:00 Market Watch found at this Link

Jane Fox : 7/7/2006 11:05:50 AM

Business Objects (BOBJ) was punished for a 14.5% decline (at 22.88) in after-hours trade after the company set its Q2 guidance below Street expectations.

BOBJ said tonight preliminary Q2 revenue is expected at about $287 to $291 million, vs. the FC mean of $298.5 million and previous guidance of $295 to $300 million. Non-GAAP EPS are expected at $0.25 to $0.28 per share, vs. the Street view of $0.33 per share and prior guidance of $0.30 to $0.33 per share.

BOBJ was released from an after-hours trading halt and saw its first match come in at 25.25 and drop immediately to 23.65. It popped back to a negative range of 24.74 to 23.91 for much of its first-half of night play. More aggressive selling moved into BOBJ just ahead of the mid-session, pressuring the issue from 24 to an evening bottom of 22.30. It spent much of its second-half action with buyers nibbling in a downside range of 23.10 to 22.67. Link

Jeff Bailey : 7/7/2006 11:02:21 AM

VXN.X 20.10

Jane Fox : 7/7/2006 11:02:16 AM

Horizon Health Corp. (HORC) was crushed 28.9% Thursday evening after missing Q3 earnings expectations and setting its forward view below current Street targets. Link

Jeff Bailey : 7/7/2006 11:01:29 AM

No stop on the UVA-TD, target $15.00 in the underlying.

Jeff Bailey : 7/7/2006 10:57:13 AM

Swing trade put option alert for two (2) of the NVDIA Corp. (NVDA Aug $20 Puts (UVA-TD) at the offer of $1.75.

NVDA $19.65 -1.70% ...

Jeff Bailey : 7/7/2006 10:50:57 AM

Japan Drops Sanctions Threat From UN Resolution on N. Korea

DJ- Japan dropped the threat of sanctions against North Korea in a draft Security Council resolution circulated Friday, a bid to win Chinese and Russian support for action condemning the isolated communist nation over a series of missile launches.

The draft, obtained by The Associated Press, condemns North Korea's missile launches Wednesday but removes language that would ban countries from sending missile-related technology to the North.

Diplomats stressed that the draft was not final and sanctions could be restored to the version that ultimately goes before the council.

Jeff Bailey : 7/7/2006 10:46:13 AM

NVIDIA (NVDA) $19.63 -1.80% Link .... probes overlapping WEEKLY S1/DAILY S1.

Jeff Bailey : 7/7/2006 10:44:56 AM

Was snooping around at various charts last night. Saw UTStarcom (UTSI) $7.91 -0.37% Link generating a double-top buy signal.

Jeff Bailey : 7/7/2006 10:40:17 AM

PMC-Sierra CFO To Leave; Lowers Outlook Reuters Story Link

Jeff Bailey : 7/7/2006 10:37:15 AM

PMCS (PMCS) $7.50 -17.03% Link ... chips continue to get pounded.

Jeff Bailey : 7/7/2006 10:34:25 AM

Chesapeake Energy (CHK) $29.97 +0.46% Link ...

Jeff Bailey : 7/7/2006 10:32:48 AM

EIA Weekly Nat. Gas. Storage Table Link

Jeff Bailey : 7/7/2006 10:31:31 AM

The tale of two markets continues ... Will the strength of the NYSE continue to build and pull the NASDAQ higher? Or will the weakness of the NASDAQ have the inchworm slipping down the tree?

Jeff Bailey : 7/7/2006 10:30:18 AM

$NYSI Link

Jeff Bailey : 7/7/2006 10:29:51 AM

$NASI Link

Jeff Bailey : 7/7/2006 10:26:26 AM

Chesapeake Energy (CHK) $30.01 +0.60% ... WEEKLY EIA Nat. Gas due out in about 4 minutes.

Jeff Bailey : 7/7/2006 10:22:51 AM

QQQQ $37.865 -0.68% ... did undercut its WEEKLY S1 by a penny.

Jeff Bailey : 7/7/2006 10:21:48 AM

OEX.X +0.01% Link ...

NDX.X -0.70% Link ...

Jeff Bailey : 7/7/2006 10:13:28 AM

Altria (MO) $77.00 -0.97% ...

Jeff Bailey : 7/7/2006 10:12:50 AM

Buy Program Premium ... SPY $127.35 : YM 11,230

Jeff Bailey : 7/7/2006 10:12:18 AM

NYSE Comp ($NYA.X) +0.02% ...

NASDAQ Comp ($COMPX) -0.60% ...

Jeff Bailey : 7/7/2006 10:02:46 AM

10:00 Market Watch found at this Link

Jane Fox : 7/7/2006 10:01:10 AM

Paulson to be sworn in as Treasury Secretary on Monday

Jeff Bailey : 7/7/2006 9:57:49 AM

Asia/Pacific Markets Link ... Finished mixed. Bombay -2.4% Link

Jeff Bailey : 7/7/2006 9:46:05 AM

3M Sees 2Q EPS Before Items Below Prior View

DJ- 3M Inc. (MMM) Friday said it expects earnings excluding items for the second quarter to miss its previous outlook, but for its reported earnings to remain in that prior outlook range.

3M cited lower-than-expected sales volumes and higher-than-anticipated new capacity start-up costs in its optical systems division.

The Dow component now sees earnings of $1.14 to $1.17 a share for the quarter, including net gains of 8 cents to 10 cents a share.

On April 24, 3M said it expected second-quarter earnings of $1.14 to $1.17 a share, including 8 cents a share in stock-option expensing.

The company said the net gains are related to income-tax adjustments, partially offset by settlement costs from an antitrust class action and expenses stemming from the exploration of strategic options for its pharmaceuticals business.

3M sees sales of about $5.7 billion for the second quarter, a performance representing an increase of 7.5% to 8% from its year-ago total.

The company expects organic local currency sales growth, which excludes the impact of acquisitions, divestitures and foreign currency fluctuations, to be near the low end of its previous outlook for growth of 5% to 8%.

The average estimate of analysts polled by Thomson First Call is for a profit of $1.17 a share in the June period.

For the full year, the company now sees earnings of $4.55 to $4.65 a share, including the net gains of 8 cents to 10 cents a share.

Wall Street's current consensus estimate is for a profit of $4.66 a share for fiscal 2006.

MMM $75.32 -7.44% Link ...

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Jane Fox : 7/7/2006 8:54:42 AM

Dateline WSJ WASHINGTON -- U.S. employment growth came in well below expectations last month, providing further evidence the economy is slowing and taking some pressure off the Federal Reserve to raise interest rates further.

However, the unemployment rate remained at a five-year low and wage growth accelerated, suggesting that the economy still faces some risk of wage-induced price pressures.

Nonfarm payrolls grew 121,000 last month after climbing 92,000 in May and 112,000 in April, the Labor Department said Friday. Previous estimates showed a 75,000-job increase in May and a 126,000 gain in April.

The unemployment rate was unchanged last month at 4.6%, which is the lowest level since mid 2001.

Average hourly earnings rose $0.08, or 0.5%, to $16.70. Compared with a year earlier, June hourly earnings were up 3.9%, the fastest annual growth pace since June 2001.

The payrolls data were below Wall Street expectations. The median estimate of 23 economists polled by Dow Jones Newswires and CNBC had projected a 200,000 payroll jobs increase and a 4.6% unemployment rate. However, wage growth topped expectations, as economists had expected just a 0.3% monthly gain in average hourly earnings.

Jane Fox : 7/7/2006 8:35:56 AM

Nonfarm payrolls grew a weaker-than-expected 121,000 last month. Unemployment rate held steady at 4.6%. Full article coming soon.

Jane Fox : 7/7/2006 8:35:11 AM

* June average workweek rises to 33.9 hours

* June average hourly earnings up 0.5%
* . June factory jobs up 15,000; services up 106,000
* . June retail jobs down 7,000
* . June unemployment rate 4.6%, unchanged vs may
* May nonfarm payrolls up rev 92,000 vs 75,000 prev
* June nonfarm payrolls up 121,000 vs 174,000 expected

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