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Jeff Bailey : 7/10/2006 11:42:44 PM

Index Pivot Matrix found at this Link ... NDX/QQQQ/SMH trade MONTHLY S1s.

QQQQ/SMH trade WEEKLY S1.

OEX Trades WEEKLY R1, but falters back below WEEKLY Pivot.

Jeff Bailey : 7/10/2006 11:35:46 PM

Stock to monitor Link

Jeff Bailey : 7/10/2006 11:33:18 PM

Stock to monitor Link

Jeff Bailey : 7/10/2006 11:21:09 PM

Joy Global (JOYG) Link

NVIDIA (NVDA) Link

Mercury Interactive (MERQ) Link

Jeff Bailey : 7/10/2006 11:14:29 PM

NASDAQ-100 Bullish % ($BPNDX) from StockCharts.com Link

Jeff Bailey : 7/10/2006 11:02:31 PM

Japan's Tanigaki: Zero Rates Desirable As Inflation Risk Low

DJ- Japanese Finance Minister Sadakazu Tanigaki said Tuesday that the nation's central bank should keep interest rates near zero as Japan is faced with little inflation risk.

"Given that there's little concern about inflation, I think zero interest rates are desirable" for the country's economy, Tanigaki told a news conference after a regular cabinet ministers meeting.

He also said the central bank needs to support the economy through monetary policy to make Japan's economic growth "sustainable" while inflation concerns are low.

Tanigaki's remarks may underscore the ministry's worries that any rate hikes by the central bank could make it more difficult to restore the nation's tattered finances by causing long-term rates and debt-financing costs to increase.

The BOJ is widely expected to raise interest rates to 0.25% on Friday after years of anchoring them near zero to revive the country's economy. A rate announcement will come after the bank wraps up its two-day policy meeting that day.

The finance minister also urged central bankers to monitor the economy and markets carefully in determining the course of monetary policy.

"I want the BOJ to make a judgment after carefully examining economic and market developments," Tanigaki said.

The central bank should also watch long-term interest rate movements and exercise caution in deciding on what to do with its monthly purchases of government bonds worth Y1.2 trillion, he said.

"We're keenly watching movements in interest rates," Tanigaki said. "We hope (the BOJ) will examine them sufficiently and make a decision."

While the finance minister has been calling for a continued zero-rate policy, however, analysts expect that the BOJ will go ahead with a rate hike Friday as an increasing number of other government and ruling party officials have signaled tolerance for such a move amid Japan's steady economic recovery.

On Monday, a senior ruling party official said Japan should trust its central bank with monetary policy decisions.

"We should trust the Bank of Japan and leave (the decision) up to them," Tsutomu Takebe, secretary-general of the ruling Liberal Democratic Party, said at a roundtable discussion in Tokyo, Kyodo News agency reported.

Jeff Bailey : 7/10/2006 10:07:55 PM

YM Pivot Matrix for Tuesday at this Link

OI Technical Staff : 7/10/2006 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 : 7/10/2006 9:44:29 PM

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

Today's Activity

Swing trade shorted 1/2 position in shares of Newmont Mining (NEM) at the bid of $54.19. Stop currently $55.50. Targeting $52.25.

Swing trade raised bullish stop on the 3/4 bullish Altria (MO) position to $77.10.

May not need to be this "defensive" with MO, with other bearish trades currently OPEN, but cognizant if COMPX breaks to new lows, then bids could get pulled in rather lackluster volumes.

Jeff Bailey : 7/10/2006 5:21:39 PM

Texas Instruments (TXN) $28.92 -0.85% ... $28.92 last tick extended.

Jeff Bailey : 7/10/2006 5:20:57 PM

Motorola (MOT) $19.36 -2.27% ... $19.30 extended.

Jeff Bailey : 7/10/2006 5:18:31 PM

Cisco Systems (CSCO) $18.96 -2.21% ... $18.92 extended.

Jeff Bailey : 7/10/2006 5:17:30 PM

Alcatel (ALA) $12.30 -1.04% .... quiet at $12.31.

Jeff Bailey : 7/10/2006 5:16:47 PM

Lucent (LU) (alert) $2.34 -1.26% ... slips to $2.23 extended (recent regular session 52-week low 06/14/06 $2.25).

Expects To Post Highest FY06 Qtrly Rev In 4Q

Sees 3Q EPS 2c Vs 7c

Lower Sales To N Amer Mobility Customers Hurt 3Q

Sees 3Q Rev $2.04B Vs $2.34B

Jeff Bailey : 7/10/2006 5:09:40 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 7/10/2006 4:57:33 PM

Closing Internals found at this Link

Jeff Bailey : 7/10/2006 4:54:15 PM

Closing Internals found at this Link

Jeff Bailey : 7/10/2006 4:38:07 PM

Consumer Credit (alert) was released at 03:00 PM EDT ... $4.4B vs. prior $9.3B

Might "explain" the bid at 03:00 PM EDT.

Jane Fox : 7/10/2006 4:15:41 PM

There are major economic releases scheduled for tomorrow.

Jeff Bailey : 7/10/2006 4:13:32 PM

Buy Program Premium ... SPY $126.82

Jeff Bailey : 7/10/2006 4:12:57 PM

Alcoa (AA) $33.41 -0.41% Link ... slips to $32.64 extended. First Dow component to kick off earnings season.

Reuters Story Link

Jeff Bailey : 7/10/2006 4:07:59 PM

QQQQ $37.36 -0.87% ... closes on trend and holds 6/13/06 close of $37.25. Updated bar chart with 04/20/05-01/11/06 retracement at this Link

Marc Eckelberry : 7/10/2006 4:03:07 PM

NVDA weekly: Link

Jane Fox : 7/10/2006 4:02:47 PM

Bulls are still in control here but a close below where the red dotted 100EMA and magenta 20EMA intersect would tell me the bulls have lost that control. Link

Tab Gilles : 7/10/2006 4:00:59 PM

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

Tab Gilles : 7/10/2006 3:59:07 PM

Murphy Oil (MUR) $56.15 +$0.50 Link

Tab Gilles : 7/10/2006 3:57:26 PM

SOX/SMH/INTC/AMD all down today.

INTC did not break out of its downtrend channel as discussed 7/7/06 12:56PM post.

Link Link

3 month INTC/AMD/SMH Link 6 month Link 1 year Link

Marc Eckelberry : 7/10/2006 3:54:51 PM

The NVDA Jan 17.5 calls are a buy at 3.50, off 50% test 18.36. Stops should be at 50% (1.75)

Marc Eckelberry : 7/10/2006 3:46:01 PM

330k July 38 puts and 391K July 37 puts. Someone is hurting. In any case, that is big money.

Jeff Bailey : 7/10/2006 3:45:31 PM

Will be monitoring today's NQ close and settlement closely Link

Marc Eckelberry : 7/10/2006 3:44:23 PM

Those naked put sellers at Q 38 and 37 could be the ones sweating it today and why this action has low volume but is moving price-wise.

Marc Eckelberry : 7/10/2006 3:39:11 PM

Long August puts, long January calls. Good one.

Marc Eckelberry : 7/10/2006 3:38:28 PM

That's not a bad calendar trade, Jeff.

Jeff Bailey : 7/10/2006 3:30:55 PM

Not on 6,000 shares though.

Jeff Bailey : 7/10/2006 3:30:19 PM

I got you hedged near-term Marc!

Marc Eckelberry : 7/10/2006 3:23:19 PM

NVDA hit 18.36, just above 50% 2004/2006 and that triggers a long (long term traders only)

Jeff Bailey : 7/10/2006 3:20:52 PM

03:00 Internals found at this Link

Jeff Bailey : 7/10/2006 3:08:30 PM

Newmont Mining (NEM) $54.21 -0.40% ...

Jeff Bailey : 7/10/2006 3:07:54 PM

Amex Gold Bugs ($HUI.X) alert 335.99 -1.0% ... (see 12:47:29 PM Post)

Jeff Bailey : 7/10/2006 3:03:44 PM

03:00 Market Watch found at this Link

Jeff Bailey : 7/10/2006 2:58:39 PM

Bullish swing trade long raise stop alert ... on the 1/2 bullish position in shares of Altria (MO) $78.05 +0.32% ... to break even.

Jeff Bailey : 7/10/2006 2:56:56 PM

QQQQ $37.23 -1.22% ... breaks below trend. Sets up for test of 06/13/06 relative lows ($37.16).

Jeff Bailey : 7/10/2006 2:55:12 PM

US 6-Month Bills: 5.105%; 68.24% At High

DJ- The U.S. Treasury awarded $14.00 billion in six-month bills at Monday's auction at a high rate of 5.105%.

The Treasury received bids totaling $31.61 billion and accepted $14.00 billion, including $2.02 billion of noncompetitive tenders. The dollar price was 97.419139 and the investment rate, or bond-equivalent return, was 5.313%.

The Treasury also sold $507.00 million of six-month bills to foreign and international monetary authority accounts on a noncompetitive bidding basis.

The bid-to-cover ratio, an indication of demand, was 2.44, Treasury said.

Tenders submitted at the high yield were allotted 68.24%.

The median rate was 5.100%; that is, 50% of the amount of accepted competitive bids were tendered at or below that rate.

Of the competitive bids accepted, 5% were tendered at or below the rate of 5.085%.

Marc Eckelberry : 7/10/2006 2:51:48 PM

tick divergence.

Marc Eckelberry : 7/10/2006 2:50:13 PM

wait for a tick build

Marc Eckelberry : 7/10/2006 2:49:33 PM

NQ Exit Point Alert
+0

Marc Eckelberry : 7/10/2006 2:46:24 PM

I am not waiting. The volume is still light, TRINNQ backing off a high of 2.9

Marc Eckelberry : 7/10/2006 2:45:48 PM

NQ Entry Point Alert
Long 1530.25, stop 1525.25.

Marc Eckelberry : 7/10/2006 2:45:28 PM

weekly S1 coming but also June low.

Marc Eckelberry : 7/10/2006 2:44:50 PM

NVDA is approaching my first buy target.

Jeff Bailey : 7/10/2006 2:35:31 PM

NVIDIA (NVDA) $18.50 -4.49% Link ... still no test of WEEKLY S1 ($18.41).

O gets another square though.

Jeff Bailey : 7/10/2006 2:32:57 PM

Semiconductor HOLDRs (SMH) $31.04 -2.38% ... give up WEEKLY S1.

Jeff Bailey : 7/10/2006 2:26:37 PM

Board of Trade (BOT) $117.77 -1.80% ...

Jeff Bailey : 7/10/2006 2:25:54 PM

Chicago Merc (CME) $488.64 -1.29% Link ...

Jeff Bailey : 7/10/2006 2:24:29 PM

Makes me wonder what the CME or CBOT is up to these days.

Jeff Bailey : 7/10/2006 2:22:53 PM

Swing trade long Trevor Immelman? Link

Jeff Bailey : 7/10/2006 2:19:26 PM

Speaking of clothing ... :)

Jeff Bailey : 7/10/2006 2:19:00 PM

Trevor Immelman won this weekend's tournament, his first PGA Tour victory. Not sure of his sponsors.

Jeff Bailey : 7/10/2006 2:13:30 PM

Callaway (ELY) ... Susquehanna initiated coverage with "positive" today.

Might be Tiger's rebound after missing cut at U.S. Open?

Jeff Bailey : 7/10/2006 2:11:22 PM

Callaway Golf (ELY) $12.67 +1.84% ...

Jeff Bailey : 7/10/2006 2:10:38 PM

Ashworth (ASHW) $8.98 +0.22% ...

Jeff Bailey : 7/10/2006 2:01:34 PM

Sport-Haley (SPOR) $5.00 +4.16% ... alert! Offers vanish to $5.74

Jeff Bailey : 7/10/2006 2:00:24 PM

Columbia's January-June Tax Revenue +19% on Year

Jeff Bailey : 7/10/2006 1:53:58 PM

DISNEY'S 'PIRATES' PLUNDERS BOX OFFICE

DJ- Walt Disney's huge bet on its 'Pirates of the Caribbean' movie pays off in box-office gold as the first of two planned sequels scores the biggest opening weekend ever, with an estimated $132 million in North American ticket sales.

DIS $29.95 +0.40% Link ...

Jeff Bailey : 7/10/2006 1:40:24 PM

I left off a "zero" Jane. Corrected now.

Jane Fox : 7/10/2006 1:38:46 PM

Jeff I think you mean 6 contracts and not 60. :)

Jeff Bailey : 7/10/2006 1:41:32 PM

Educational A trader that would normally buy, say... 60 contracts of NVDA (call/put) or any other stock for that matter, is "saying" they would normally buy/sell at least 6000 shares of the underlying stock.

Of course, this assumes some type of risk management for the trader's/investor's account.

6000 x 19.65 = $117,900.00

Trade size of this probably equates to a trader's account of $1,000,000.00 or more.

Jeff Bailey : 7/10/2006 1:30:49 PM

The UVA-TD long put position would represent roughly 1/3 bearish.

If $10,000.00 of capital short in the stock is FULL position, then at PROFILED stock price of $19.65, a trader/investor using RISK MANAGEMENT would divide $10,000 by $19.65 to derive a 508 share short position in the underlying stock.

For the OPTIONS, where 1 contract= 100 shares, this would equate to 5 contracts= Full.

Jeff Bailey : 7/10/2006 1:27:02 PM

Current OPEN MM Profiles found at this Link

Alert! Today's NEM is short 1/2

Jeff Bailey : 7/10/2006 1:14:52 PM

01:00 Internals found at this Link

Jeff Bailey : 7/10/2006 1:04:04 PM

NVIDIA's WEEKLY Pivots ... $17.45, $18.41, Piv= $20.10, $21.06, $22.75

Jeff Bailey : 7/10/2006 1:03:03 PM

Intel (INTC) $18.20 -1.93% ... slips below WEEKLY S1.

Jane Fox : 7/10/2006 1:02:48 PM

Acr group (BRR) shares up 21% to $5.25 on volume 354,900 vs daily average 18,000 due to Q1 results
* Q1 net $1.7m vs $160,000
* Q1 net 15c vs 1c
* Q1 revs $61.9m, up 30.3% from $47.5m a year ago Link

Jeff Bailey : 7/10/2006 1:02:22 PM

01:00 Market Watch found at this Link

Jane Fox : 7/10/2006 12:59:46 PM

* Amylin pharma (AMLN) shares set 52-week high of $50
* American eagle (AEOS) shares set 52-week high of $36.15
* Mikron instrument (MIKR) shares set 52-week high of $16.85
* SEI investments' (SEI) shares set 52-week high of $49.95
* Dell computer (DELL) shares set 52-week low of $23.44
* Openwave (OPWV) shares set 52-week low of $7.19

Jane Fox : 7/10/2006 12:54:28 PM

* Connetics' (CNCT) shares set 52-week low of $7.16
* Kronos' (KRON) shares set 52-week low of $26.59
* Linktone (ITON) shares set 52-week low of $4.54
* Adtran (ADTN) shares set 52-week low of $20.57
* US Energy shares (USEY) set 52-week high of $4.60
* Olympic steel (ZEUS) shares set 52-week high of $38.94
* Bellsouth (BLS) shares set 52-week high of $36.68
* Merck (MRK) shares set 52-week high of $37.28
* Continental (CAL) shares set 52-week high of $31.97
* Frontier oil (FTO) shares set 52-week high of $34.50

Jeff Bailey : 7/10/2006 12:51:03 PM

Disk Drive Index (DDX.X) 142.55 -1.36% ... has edged below its 01/03/06 low of 142.56.

Jeff Bailey : 7/10/2006 12:47:29 PM

AMEX Gold Bugs ($HUI.X) 340.38 +0.28% ... recent high/low retracement (red) and recent closing high/low (blue) retracement at this Link

WEEKLY Pivot Levels ... 328.68, 334.17, Piv= 342.91, 348.40, 357.15.

Marc Eckelberry : 7/10/2006 12:35:35 PM

Anyway, it was also more for readers who are thinking leaps and so forth and don;t have the time to watch every tick. Put in an order for some 2007 leaps on a hit of NVDA 18.40, would be my suggestion. Some of you might even want to start scaling in today, as NQ/NDX/QQQQ could be finding the bottom before earnings right now.

Marc Eckelberry : 7/10/2006 12:35:51 PM

Jeff, my comment was more on Jane's note that NVDA was looking bearish. My answer is, of course it is, but that is not why I won't buy it! Especially if it stays above 18.35.

Jane Fox : 7/10/2006 12:32:15 PM

NASDAQ DECLINERS OUTNUMBER ADVANCERS 4 TO 3

Jane Fox : 7/10/2006 12:29:32 PM

Paulson pledges strong, flexible, open U.S. economy
* must engage with economic partners,
* US must expand trade, investment

Jeff Bailey : 7/10/2006 12:29:58 PM

I thought we bought some EWJ when they were on sale! (06/13/06)

Sometimes I'll go to Kohl's and they'll have t-shirts 30%. Next week those same t-shirts 70% off!

Jane Fox : 7/10/2006 12:28:05 PM

NASDAQ MOST ACTIVE STOCKS: QQQQ SUNW INTC MSFT ORCL

Jane Fox : 7/10/2006 12:27:49 PM

NYSE MOST ACTIVE STOCKS: EMC LU F NT SGR

Marc Eckelberry : 7/10/2006 12:23:42 PM

Amazing how everyone always buys clothes on sale but not stocks. It;s part of the brain chemistry that has made a fortune for the brave when it is coupled with calm thinking. Otherwise, you just make your little 10%. But the only way to get RICH at the game is to buy when no one wants to, WHEN there is value. This is not 2000, when there was no value, it was so overpriced.

Marc Eckelberry : 7/10/2006 12:18:30 PM

NVDA 18.35 is the spot to wait for. I don;t care if there is no bullishness there, this is a long term trade idea. In fact, if you don;t invest long term on weakness, you miss the point.

Jeff Bailey : 7/10/2006 12:14:35 PM

QQQQ (alert) $37.56 -0.34% ... edges below last week's lows.

Jane Fox : 7/10/2006 12:10:14 PM

Jeff I have to agree with you on NVDA. I don't see much bullishness here. Link

Jane Fox : 7/10/2006 12:06:20 PM

I bot STKL calls last Friday with a stop at 8.50. Link

Jeff Bailey : 7/10/2006 12:05:35 PM

Dell Link

NVDA Link ... better risk/reward from the short-side on NVDA is my thought.

Jeff Bailey : 7/10/2006 12:03:37 PM

Ba, ba, ba, ... bear

Jane Fox : 7/10/2006 12:03:02 PM

Jeff I'm not sure if you are watching Dell from the bullish side or bearish. But I think this stock could be a wonderful short. Link

Jeff Bailey : 7/10/2006 12:02:55 PM

Semiconductor Bull % (BPSEMI) from Dorsey/Wright at this Link

Marc Eckelberry : 7/10/2006 12:02:26 PM

You want to establish some positons ahead of the upgrades, because as stock like NVDA can bounce 10% in a day.

Marc Eckelberry : 7/10/2006 12:00:40 PM

It's hard picking lows on these stocks, they are so volatile. The orders for video cards and ram will start pouring in eventually. The one concern has been the ramp up in inventory ahead of it, so this is why we are seeing weakness. But at some point, it gets priced in.

Jane Fox : 7/10/2006 11:58:56 AM

BISMARCK, N.D. & SEATTLE, Jul 09, 2006 (BUSINESS WIRE) -- MDU Resources Group, Inc. (NYSE:MDU) announced today that it entered into a definitive merger agreement on July 8 to acquire Cascade Natural Gas Corp. (NYSE:CGC) for cash consideration of $26.50 per share. The acquisition is expected to be accretive to earnings per share. Cascade's customer base in Washington and Oregon will approximately double the number of MDU Resources' natural gas utility customers. Link

Jeff Bailey : 7/10/2006 11:57:41 AM

Keeping eye on DELL $23.55 -1.34% Link

Jeff Bailey : 7/10/2006 11:56:30 AM

Marc, I saw your NVDA post from a couple of weeks ago, thus I've been following developments in semiconcutors, software and networkers closely.

I agree with the Vista scenario, this the importance of its push-out as well as new Windows delay.

Marc Eckelberry : 7/10/2006 11:55:42 AM

Vista will be a memory hog and very, very graphics intensive. Tech bears have forgotten what a major OS upgrade does to the industry. That's ok, now is the time to start working it. Evryone will get hip to it in a few months, if not before.

Marc Eckelberry : 7/10/2006 11:53:20 AM

I like NVDA, ATYT and MU as pure Windows Vista plays. INTC goes without saying, but these other guys can jump 50% in a year. NVDA could double by next summer.

Marc Eckelberry : 7/10/2006 11:52:14 AM

Jeff, I had not even seen your post. But NVDA has been on my radar for weeks. I get 50% 2004/2006 at 18.31, and that is where I would scale in.

Marc Eckelberry : 7/10/2006 11:49:52 AM

NVDA is a stock that is reaching a point where long term investors might want to start nibbling. This is a solid play for 2007. Vista will be very graphic intensive and they will need big video cards. I would start buying on any hit of 18.32 that holds.

Jeff Bailey : 7/10/2006 11:45:27 AM

Swing trade short 1/2 position in shares of Newmont Mining (NEM) at the bid of $54.19, stop $55.50, target $52.25.

Jeff Bailey : 7/10/2006 11:36:58 AM

Bearish Vertical Counts that span $1.00 and $0.50 box increments ....

NVIDIA Corp. (NVDA) Link ....

(2 x 2) x $1.00 box = $4.00

(2 x 2) x $0.50 box = $2.00

Then take upper O of $21.00 and subtract $6.00 to get initial BVC of $15.00.

DO NOT OVERLEVERAGE a bearish trade. Remember the old PnF saying "sometimes the first sell signal in the upward trend is a buying opportunity."

Jeff Bailey : 7/10/2006 11:23:15 AM

NVIDIA (NVDA) $19.00 -1.85% Link ... Trade at $19.00 has supply back in control near-term. Initial bearish vertical count to ....

Jane Fox : 7/10/2006 11:20:56 AM

We now await the 3p.m. May Consumer Credit. Consensus: +$2.8 Bln. Previous: +$10.6 Bln.

Jeff Bailey : 7/10/2006 11:19:58 AM

Dell Computer (DELL) $23.57 -1.25% ... set to test its recent 52-week low ($23.53)

Jane Fox : 7/10/2006 11:17:59 AM

WASHINGTON (MarketWatch) -- Inventories at U.S. wholesalers rose 0.8% in May while sales increased 1.6%, the Commerce Department said Monday.

The inventory-to-sales ratio fell to a record-low 1.15 in May. The typical wholesaler has about 35 days of sales on hand. The increase in inventories was slightly higher than the 0.6% predicted by economists surveyed by MarketWatch.

Inventories had increased a revised 1.3% in April, up from 0.9% originally estimated. Inventories are up 7.8% in the past year. Sales are up 12.1% in the past year.

The wholesale inventory report rarely affects financial markets. It is of interest primarily to economists tweaking their estimates for gross domestic product. The Commerce Department will finalize its estimates for business sales and inventories on Friday with the release of the retail inventory data.

Wholesalers are middlemen between retailers and producers. They serve as absorbers for supply and demand shocks. Trends in wholesale trade are not considered leading indicators.

Jeff Bailey : 7/10/2006 11:15:42 AM

NVIDIA (NVDA) $19.09 -1.44% .... "confirms" SMH's 52-week low.

Jane Fox : 7/10/2006 11:15:41 AM

MAY NONDURABLE INVENTORY-SALES RATIO RECORD LOW 0.83
* APRIL WHOLESALE INVENTORIES REVISED TO 1.3% VS. 0.9%
* MAY INVENTORY-SALES RATIO FALLS TO RECORD-LOW 1.15
* MAY WHOLESALE SALES UP 1.6%
* MAY WHOLESALE INVENTORIES UP 0.8% VS. 0.6% EXPECTED

Jeff Bailey : 7/10/2006 11:14:31 AM

11:00 Internals found at this Link

Friday's Internals found at this Link

Jeff Bailey : 7/10/2006 11:12:21 AM

Semiconductor HOLDRs (SMH) alert $31.49 -0.97% ...

Jeff Bailey : 7/10/2006 11:02:19 AM

11:00 Market Watch found at this Link

Jeff Bailey : 7/10/2006 10:53:56 AM

Altria (MO) $78.13 +0.42% ... Daily Interval bar chart Link ... On Friday began showing WEEKLY Interval bar chart and wanted to test for similarity/divergence to December's Illinois court news.

Jeff Bailey : 7/10/2006 10:45:01 AM

NVIDIA Corp. (NVDA) $19.20 -0.87% Link ... sets up for test of 52-week low ($19.12)

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

Semiconductor HOLDRs (SMH) $31.54 -0.81% Link ... sets up for test of 52-week low ($31.50).

Jeff Bailey : 7/10/2006 10:41:41 AM

Dollar Index (dx00y) 85.55 +0.67% ... 40cent box Link

Jane Fox : 7/10/2006 10:40:28 AM

INTC is not much better than CWPC but I see the reverse H&S is still in tact. If this H&S is negated be very careful if long, a bullish pattern that does not play out especially one as strong as this one is very bearish and has implications for the whole market. Link

Jeff Bailey : 7/10/2006 10:41:33 AM

StreetTracks Gold (GLD) $62.22 -0.65% ... 40cent box Link

Jeff Bailey : 7/10/2006 10:38:33 AM

CHINA TRADE SURPLUS HITS RECORD

DJ- Country exports $14.5 billion more in goods than it takes in during June, a monthly record for China and above economists' forecast of a $13.6 billion surplus. Data will likely add to U.S. pressure for China to let the yuan appreciate faster.

Jeff Bailey : 7/10/2006 10:36:33 AM

UAW CHIEF SAYS GM/NISSAN/RENAULT DEAL UNLIKELY

DJ- Head of the largest U.S. automotive labor union lends GM CEO Wagoner a public vote of confidence and says he does not believe Kirk Kerkorian's proposal that the auto maker join an alliance with Renault and Nissan will come to fruition.

Jeff Bailey : 7/10/2006 10:35:02 AM

I thought that might be a chart of Intel (INTC) $18.43 -0.70% Jane.

Jeff Bailey : 7/10/2006 10:33:20 AM

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

Jane Fox : 7/10/2006 10:23:18 AM

Here is a stock that a lot of traders have been almost giddy over in the last few months and if you are long I would be seriously thinking of bailing. Link

Jeff Bailey : 7/10/2006 10:22:01 AM

Boeing (BA) $80.60 +0.76% Link ...

Jeff Bailey : 7/10/2006 10:21:11 AM

AIRBUS DELIVERIES, ORDERS SLIDE IN JUNE

DJ- Airbus delivers 40 airplanes and takes just 12 orders in June, meaning it delivered 219 aircraft in the first half of the year, underlining how much ground the Toulouse-based aircraft maker has lost to its U.S. arch rival Boeing.

Jeff Bailey : 7/10/2006 10:19:37 AM

SAUDI ARABIA TESTS HEAVY-OIL RESERVES

DJ- With global energy demand soaring, Saudi Arabia, whose abundant reserves of light oil have supplied the world for decades, is looking to unlock its huge, hard-to-tap and largely unexploited reservoirs of heavy crude.

Jeff Bailey : 7/10/2006 10:18:36 AM

IBM (IBM) $76.39 -0.03% Link ... (see 10:17:46)

Jane Fox : 7/10/2006 10:18:27 AM

Take-Two Interactive (TTWO) (10.01, -0.09, -0.9%) said Monday the Securities and Exchange Commission opened an informal investigation into stock-option grants dating back to January 1997. The New York entertainment software company said it plans to fully cooperate with the inquiry. The company is also conducting its own investigation. Link

Jeff Bailey : 7/10/2006 10:17:46 AM

EMC LOWERS 2Q OUTLOOK

DJ- EMC now expects earnings of 12c a share, a penny below prior expectations, reflecting later-than-expected orders from customers and a faster-than-anticipated customer transition to its Symmetrix DMX-3 platform.

EMC $10.99 -1.69% Link ...

Jeff Bailey : 7/10/2006 10:16:13 AM

FOOT LOCKER UP ON KKR BUY NEWS

DJ- Foot Locker shares rise 11% after Kohlberg Kravis Roberts is reportedly the frontrunner to acquire the sports retailer, according to Women's Wear Daily. Firm could make a bid with Apollo, says WWD, at a price that may be above $30 a share.

FL $27.18 +9.42% Link ...

Jane Fox : 7/10/2006 10:15:57 AM

Kronos (KRON) (27.45, -7.17, -20.7%) Monday said it expects earnings of 30 to 33 cents a share for the third quarter on revenue of between $140 million and $141.5 million. The outlook includes a charge of 9 cents a share related to stock option expensing, as well as a charge of 3 cents a share from the amortization of intangible assets. Link

Jeff Bailey : 7/10/2006 10:14:30 AM

KRAFT BUYS PART OF UNITED BISCUITS FOR $1.07B

DJ- Kraft says it will buy the Spanish and Portuguese operations of United Biscuits, a U.K. cookie maker, for $1.07 billion. The deal allows Kraft to buy back all Nabisco trademarks in the E.U., Eastern Europe, the Middle East and Africa.

KFT $30.25 +0.16% Link ...

Jeff Bailey : 7/10/2006 10:12:17 AM

KIMCO TO BUY PAN PACIFIC RETAIL FOR $2.9B

DJ- Shopping center REIT agrees to acquire smaller mall operator for $70 a share, same as Friday's closing price. Kimco will also assume $1.1 billion in debt. Kimco expects the deal to close in 4Q.

KIM $37.37 +1.35% Link

PNP $69.39 -0.87% Link

Jeff Bailey : 7/10/2006 10:09:07 AM

VENTURE TO BUY HERITAGE PROPERTY FOR $1.83B

DJ- Australian-American joint venture Centro Watt agrees to acquire strip-mall owner Heritage Property Investment Trust for $36.15 a share, a 3.3% premium to the REIT's Friday closing price. Centro Watt is a partnership between Centro Properties, a publicly traded Australian company, and Watt Commercial Properties, a private Los Angeles-based concern.

HTG $35.94 +2.74% Link

Jeff Bailey : 7/10/2006 10:02:23 AM

10:00 Market Watch found at this Link

Jane Fox : 7/10/2006 9:58:38 AM

LifePoint Hospitals Inc. (LPNT) 33.93, +1.31, +4.0%) Monday confirmed its outlook for earnings from continuing operations of 50 to 54 cents a share for the second quarter. The Brentwood, Tenn., company said this forecast excludes a gain of about 13 cents a share from a reduction in depreciation expense related to its purchase price allocations for 2005 acquisitions. Link

Jane Fox : 7/10/2006 9:55:34 AM

NYSE ADVANCERS OUTNUMBER DECLINERS 9 TO 4

NASDAQ ADVANCERS OUTNUMBER DECLINERS 2 TO 1

DOW INDUSTRIALS ADVANCERS OUTNUMBER DECLINERS 28 TO 2

Jane Fox : 7/10/2006 9:51:42 AM

Standard Microsystems Corp - (SMSC) shares surge 22% Monday after the company topped earnings estimates for the first quarter and provided an upbeat forecast for the second quarter. Link

Jane Fox : 7/10/2006 9:47:42 AM

Connetics - CNCT (8.55, -2.88, -24.6%) dropped 23% to $9 in pre-market action on Inet Monday after the Palo Alto, Calif., developer of dermatology products said it expects earnings and revenue for both the second quarter and the whole of fiscal 2006 to come in "materially below" its previous forecast. The company cited its decision to reduce wholesaler inventory by shipping product volumes that were below its estimated prescription demand and lower product orders from an international distributor for the shortfall. Connetics also withdrew its outlook for fiscal 2006, and said it's largely completed internal work on the expected restatement of its accounting for rebate reserves. It's also evaluating and resolving other items in addition to the rebate reserves that could materially impact both the restated periods and its results for the first quarter.

Jeff Bailey : 7/10/2006 9:29:23 AM

Nikkei-225 ($NIKK) closed up 245 points, or +1.60% Link ... Session Low/High was 15,080/15,555

Chart O to 15,100, but nice reversal back higher by the close (blue ?)

Jane Fox : 7/10/2006 8:59:43 AM

Dateline WSJ MOSCOW -- Chechen warlord Shamil Basayev, the purported author of modern Russia's worst terrorist attacks, has been killed, the head of the Federal Security Service said Monday.

FSB head Nikolai Patrushev told President Vladimir Putin that Mr. Basayev had been killed overnight in Ingushetia, the ITAR-Tass news agency reported.

Mr. Basayev, 41 years old, claimed responsibility for some of Russia's worst terror attacks, including the seizure of some 800 hostages in a Moscow theater in 2002, the 2004 school hostage taking in Beslan that killed 331, and the seizure of about 1,000 hostages at a hospital in Budyonnovsk that killed about 100.

Mr. Patrushev told Mr. Putin that the Chechen rebels had hoped to "put political pressure on the Russian leadership" during the Group of Eight summit later this week, which Mr. Putin is chairing.

Mr. Putin called Mr. Basayev's killing "deserved retribution" for terrorist attacks in Beslan and Budyonnovsk, the RIA-Novosti news agency reported.

Jane Fox : 7/10/2006 8:58:43 AM

Dateline WSJ Chechen warlord Shamil Basayev, the purported author of modern Russia's worst terrorist attacks, has been killed, the head of the Federal Security Service said. Full article coming soon.

Jane Fox : 7/10/2006 8:55:03 AM

I have gotten emails from readers asking me to post on the options side and I am torn because I use the futures markets for the basis of my market analysis and as an extention to that have posted my internals analysis on the futures side as well. I don't want to confuse readers by switching but I want all to be able to take advantage of posts on the futures side. So to all readers who do not look at the futures side of the monitor, please do so to first of all see how the equity markets and a few select commodity markets traded overnight. Then intraday get a really good feel for the cash markets with the analysis you read on futures markets.

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