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Marc Eckelberry : 11/22/2006 1:36:42 AM

Some musings on DELL and the markets: Link

Keene Little : 11/21/2006 11:08:42 PM

Wednesday's pivot table: Link and Link

OI Technical Staff : 11/21/2006 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The Market Monitor has been archived.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 : 11/21/2006 5:32:53 PM

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

Jeff Bailey : 11/21/2006 5:29:25 PM

Closing Internals found at this Link

Jeff Bailey : 11/21/2006 5:12:37 PM

As I continue to monitor the average daily volumes at the NYSE and NASDAQ, the NYSE is notably higher. The stocks perform much differently too, with NYX clearly outperforming the NDAQ.

Is the Nasdaq's marriage with the LSE a desperation move in order to ever compete once again with the big board?

Stay tuned... As The World Turns

Jeff Bailey : 11/21/2006 5:08:06 PM

Good Gravy! ... Labranche (LAB) $10.70 +3.98% Link ... has made it back to recent earnings "debacle."

Jeff Bailey : 11/21/2006 4:57:53 PM

Closing U.S. Market Watch found at this Link

Jeff Bailey : 11/21/2006 4:56:38 PM

Nasdaq Stock Market (NDAQ) $38.32 +1.61% Link ... $38.50 extended.

Jeff Bailey : 11/21/2006 4:55:18 PM

NASDAQ / LSE (additional) DJ- The company said the B Share Offer is in cash at 200 pence per LSE B Share (plus an amount equal to the accrued dividend), valuing the entire issued B share capital of LSE at approximately GBP16.5 million.

NASDAQ said Monday that it has requested a meeting with LSE's Chairman to seek a recommendation of the Final Offers in advance of posting the Offer Document.

NASDAQ said it appreciates LSE's strong standalone growth prospects. In particular it said it recognises the strong growth in SETS volumes of 56% year-on-year for the six months to Sept. 2006, the strong new issue activity currently being experienced and the growth in related activities.

NASDAQ said this potential needs to be set against the fact that LSE's share price has risen 216% over the past two years and 103% over the past year vs. net income growth of 75% and 50% respectively.

NASDAQ said it believes this potential, as well as the significant synergy benefits of a combination, are fully reflected in its offer price.

The company said an offer price of 1,243 pence per LSE Ordinary Share represents a 54% premium over the Closing Price on 10 March 2006, the Business Day immediately prior to LSE's announcement that it had received a pre-conditional approach from NASDAQ, adjusted for the LSE Capital Return.

NASDAQ said the offer also represented a 40% premium to NASDAQ's indicative offer price of 9 March 2006 as adjusted for the LSE Capital Return and a multiple of 27.9x adjusted earnings for the 12 months to 31 March 2006 and a multiple of 24.9x consensus earnings forecast for the 12 months to 31 March 2007.

NASDAQ said it will Monday submit a filing to the OFT in relation to the Transaction and does not expect the Transaction to give rise to any significant antitrust issues.

The Transaction is not subject to any other formal regulatory approvals nor does it require NASDAQ shareholder approval.

The company said the Transaction is expected to complete in the first quarter of 2007.

NASDAQ said the Final Offers will not be revised except that NAL reserves the right to revise the Final Offers upon the recommendation of the LSE Board or if a firm intention to make a competing offer for LSE is announced, whether or not subject to any preconditions.

NASDAQ said it believes bringing together the two organisations would present listed companies, traders and investors with a leading global equity market place, based on dynamic industry leadership.

The company said the transaction presents the potential to create the leading global, cross-border equity market platform giving issuers the ability to dual-list simultaneously in London and New York.

The leading global exchange by number of listings featuring over 6,400 listed companies with a total market capitalisation of approximately GBP6.3 trillion ($11.8 trillion) presenting a strong platform for companies of all sizes and the natural choice for international issuers.

The most active global equity exchange, with an average daily volume of 7.4bn shares traded, 5.5 million average daily bargains and an average daily value traded of approximately GBP41.5bn ($75.6bn).

Significant efficiencies which would benefit the users of both platforms, and fully execute on the efficiencies that both companies offer their market participants, and a combined entity well positioned to lead further consolidation and compete effectively with any transatlantic or European combination.

NASDAQ said it was a proposal that will yield benefits to all users of LSE.

NASDAQ President and CEO Robert Greifeld said: "We are excited about the prospect of combining two strong businesses to form the leading global, cross-border equity market platform giving issuers the ability to dual-list simultaneously in London and New York.

"The combined entity will be well positioned to lead further consolidation and compete effectively for the benefit of all market users."

Jeff Bailey : 11/21/2006 4:43:25 PM

NYSE Group (NYX) $104.60 +9.73% Link ... nearing its bullish vertical count of $106.

In a "bull" phase, a Purdue University study found the triple top buy signal profitable 87.9% of the time for an average gain of 28.7% in 6.8 months.

Jeff Bailey : 11/21/2006 4:38:57 PM

NASDAQ Stock Market Makes Final Offer For LSE

NASDAQ Offer In Cash At 1,243 Pence Per LSE Share

NASDAQ Offer Values LSE Share Capital At GBP2.7B

DJ- NASDAQ Stock Market, Inc. Monday announced the terms of Final Offers to be made by Nightingale Acquisition Limited (NAL), a wholly owned subsidiary of NASDAQ, for the London Stock Exchange Group plc.

Nasdaq is offering 1,243 pence per LSE ordinary share, valuing the entire issued ordinary share capital of LSE at approximately GBP2.7bn and represents an enterprise value of approximately GBP2.9bn (based on LSE's net debt of GBP284.7 million as at 30 September 2006).

Jeff Bailey : 11/21/2006 4:21:04 PM

Advanced Micodevices (AMD) $21.24 -0.93% ... $21.79 extended.

Keene Little : 11/21/2006 4:20:41 PM

Today was too much fun. I have too much to talk about in tonight's Wrap, with all of today's price action, that I don't even know where to begin. Between all the economic reports and wild volatility today it's going to be a challenge keeping the content down. I jest of course--there were no major economic reports, no major announcements, no price action and no volume. I'll be showing some interesting statistics concerning how stretched we are above the 200-dma and what that might mean for our immediate future. Details at 11, see you then.

Jeff Bailey : 11/21/2006 4:19:05 PM

Dell Computer (DELL) ... Earnings Press Release Link

Consensus was for EPS of $0.24 on Revenue of $14.44B

Jeff Bailey : 11/21/2006 4:16:39 PM

Dell Computer (DELL) $24.82 +0.68% ... surging to $26.72 on headline numbers.

Jeff Bailey : 11/21/2006 4:10:49 PM

YM 12,341

Jeff Bailey : 11/21/2006 4:10:09 PM

YM short close out alert at 12,345

Jane Fox : 11/21/2006 4:07:31 PM

Tomorrow we have the initial claims (a day early) at 8:30 and then Michigan Sentiment at 10:00.

Jane Fox : 11/21/2006 4:04:25 PM

SAN FRANCISCO (MarketWatch) -- Google Inc. shares topped the $500 mark for the first time Tuesday, just 27 months after the No. 1 provider of Internet searches first sold shares to the public for $85.

Google (GOOG) rose as much as 2.9%, hitting an all-time intraday high of $509.17, after the search leader unveiled discounts for online shoppers who use its payment service during the holiday season.

The surge gave Google, which conducted its groundbreaking initial stock offering in August 2004, a market capitalization of more than $155 billion, more than that of older technology firms including Apple Computer Inc., Intel Corp., Hewlett-Packard Co. and International Business Machines Corp.

Jeff Bailey : 11/21/2006 3:57:28 PM

YM short raise target/lower stop alert ... 12,332 and 12,351.

YM 12,345

Jeff Bailey : 11/21/2006 3:47:39 PM

YM 12,347 ... does NOT care.

Jeff Bailey : 11/21/2006 3:47:02 PM

BIX.X 395.00 -0.54% ... edges to new session lows. WEEKLY S2 just below.

Keene Little : 11/21/2006 3:30:50 PM

Today's consolidation is very tight and it looks like the market's on hold for the week. But my best guess on this is that we'll see a rally back up to the top of the consolidation at ES 1408 and then a final pullback to set up the next rally leg. I've got a couple of internal Fib projections lining up around ES 1422 which would be the top of its ascending wedge early next week. Then, just maybe, I'll be able to call THE top. Link

Jeff Bailey : 11/21/2006 3:21:44 PM

YM short entry alert ... let's go short the YM 12,348 here, stop 12,359, target 12,325.

Jeff Bailey : 11/21/2006 3:14:24 PM

03:00 Internals found at this Link

Jeff Bailey : 11/21/2006 3:05:10 PM

03:00 Market Watch found at this Link

Jane Fox : 11/21/2006 2:47:30 PM

If you ever have an opportunity to teach a class in technical analysis this is NOT the chart to use. Link

Jane Fox : 11/21/2006 2:46:14 PM

If you ever have an opportunity to teach a class in technical analysis this is the chart to use. Link

Jane Fox : 11/21/2006 2:44:03 PM

* NYSE advancers outnumber decliners 19 to 13
* Nasdaq decliners outnumber advancers 15 to 14

Jeff Bailey : 11/21/2006 2:24:08 PM

QQQQ 60-minute interval chart (last night's Market Wrap) at this Link

Jeff Bailey : 11/21/2006 2:09:33 PM

SPX 1,402.14 +0.11% Link ...

Jeff Bailey : 11/21/2006 2:07:20 PM

White House:

DJ- GDP is seen slowing further to 2.9% next year before increasing slightly more in following years to a rate at or above 3.0% a year through 2011, according to the new White House forecast.

As for inflation, the White House lowered its forecast for the overall consumer price index growth in 2006 by seven-tenths of percentage point to 2.3%, compared with 3.0% CPI growth last year.

The Council of Economic Advisers Chairman Edward Lazear said inflation data have been "good, not only the headline numbers but also the core numbers, both at the consumer and producer level."

The White House projects consumer price growth will rise to 2.6% next year and remain in the 2.6%-2.3% range through 2011.

The White House expects labor markets to remain on its current pace this year, with non-farm payrolls growing an average of 135,300 a month. The unemployment rate is seen averaging 4.6% this year, down from 5.1% last year.

Jeff Bailey : 11/21/2006 2:05:16 PM

StreetTracks Gold (GLD) $59.85 +1.78% ($598.50)

YG06Z $628.80 +1.07%

Jeff Bailey : 11/21/2006 2:03:19 PM

10-year YIELD ($TNX.X) down 1.3 bp at 4.582%.

Jeff Bailey : 11/21/2006 2:02:36 PM

White House Drops 2006 10-Yr Yield Forecast To 4.8% vs. 5.0%

Jeff Bailey : 11/21/2006 2:01:49 PM

White House Lowers 2006 Inflation Forecast to +2.3% vs. +3.0%

Jeff Bailey : 11/21/2006 2:01:14 PM

White House Cuts 2006 GDP Growth Forecast to +3.1% vs. +3.6%

Jane Fox : 11/21/2006 1:42:23 PM

Just looking at this one internal is enough to tell you you should not be short. Link

Keene Little : 11/21/2006 1:33:59 PM

The candles on the 30-minute charts are getting smaller and running flatter. Looks like we're in lock down, or make that lock sideways.

Jeff Bailey : 11/21/2006 1:12:21 PM

01:00 Internals found at this Link

Jane Fox : 11/21/2006 1:04:04 PM

These are all in sync even the TRIN even though it is rising. Its absolute valve, as I stated earlier, is bullish. Link

Jeff Bailey : 11/21/2006 1:02:27 PM

01:00 Market Watch found at this Link

Jeff Bailey : 11/21/2006 12:53:40 PM

DIA $123.24 +0.08% ... hmmmm.... not looking like a "cramp" back to weekly pivot at this point with a "ramp" for Wednesday and Friday's usual horn of plenty Thanksgiving bullishness.

Jeff Bailey : 11/21/2006 12:48:26 PM


DJ- Shares rise 4% as heavy-equipment maker earns $277.3 million, or $1.20 a share, with revenue up 3% to $5.12 billion on higher agricultural profits and better pricing. Equipment sales are flat at $4.49 billion, but credit revenue and other revenue rise. Wall Street expected EPS of 94c on revenue of $4.79 billion. Deere's forecast for 1Q and fiscal year is lower than analyst forecasts.

Jeff Bailey : 11/21/2006 12:47:23 PM

"Nothing runs like a..." Link

Keene Little : 11/21/2006 12:38:54 PM

The pattern over the past couple of days for YM is very confusing and it adds to my belief we're going to see a sideways consolidation through tomorrow before we head higher again. So the deeper pullback is becoming less and less likely in my opinion. I'd like to see ES pull back to 1399.50 but I'm beginning to wonder if even that's too much to expect. The bears may have decided it's not worth trying to short this makret this week and may just be waiting until next week to start attacking (which could provide the fuel for the next leg up).

Jeff Bailey : 11/21/2006 12:27:28 PM

Marvell Tech (MRVL) $20.42 -2.10% Link ... trying to make a bullish comeback.

Keene Little : 11/21/2006 12:22:44 PM

ES was stopped at its downtrend line from yesterday's high (shown in the chart I posted at 11:28) and is testing it again as I type (1405.75). Watch to see if resistance holds here.

Jeff Bailey : 11/21/2006 12:16:49 PM

Red Hat (RHAT) $17.00 +3.03% Link ...

Barrick Gold (ABX) $28.92 +2.04% Link ...

Jeff Bailey : 11/21/2006 11:49:28 AM

Good gravy ... VIX.X 9.88 -0.90% ...

Tab Gilles : 11/21/2006 11:49:03 AM

$VIX Is at multi year lows 9.88, this cannot be ignored, as in the past low volatility signaled a market top.



Keene Little : 11/21/2006 11:46:41 AM

It's amazing that even with the weakness and the drop from this morning's high the VIX has remained below 10. It appears to be "comfortable" below 10 now and of course that comfort level is going to get a severe jolt at some not too distant future date. If I've got the EW count correct, which calls for another leg up, it'll be very interesting to see how low the VIX drops. I've got some Fib projections that point to the 9.6 area as a possibility. A new high, cheaper puts, and I'll add to my short position hopefully next week. It could be one helluva setup.

Jane Fox : 11/21/2006 11:45:57 AM

Onward and upward.

Jane Fox : 11/21/2006 11:45:37 AM

These are telling you to don't even think about been short. The TRIN is rising and you would think that an issue for the bulls but a TRIN at 0.79 is of no concern. Link

Jane Fox : 11/21/2006 11:38:06 AM

NEW YORK (MarketWatch) -- A pair of aviation-related initial public offerings rose in their respective stock-market trading debuts Tuesday.

Dutch aviation company AerCap Holdings N.V. AerCap (AER), which leases and trades airplanes and engines and sells parts, priced 26.1 million shares at $23 each late Monday. The offering price was in at the middle of the expected range of $22 to $24.

The IPO, which has raised $600 million, comprises 6.8 million shares to be issued and sold by AerCap, as well as 19.3 million shares to be sold by stockholders. Cerberus Capital Management, which financed the $1.4 billion buyout of Aercap last year sold about 75% of the shares offered Tuesday.

The offering is underwritten by Morgan Stanley, Goldman Sachs, Lehman Brothers, Merrill Lynch, UBS, Wachovia, J.P. Morgan, Citigroup and Calyon Securities.

AerCap shares gained more than 8% to change hands recently at $24.87 in New York Stock Exchange trading.

Also on the NYSE, Spirit AeroSystems Holdings (SPR) shares opened at $27.55 after being priced at $26, above the expected range of $23 to $25 a share.

Spirit, which offered 55.1 million shares, designs and makes airplane structures. The company, a former unit of Boeing Co., is being spun off of Canadian private equity firm Onex Corp.

Wichita, Kan.-based Spirit's shares traded lately at $28.60.

Jeff Bailey : 11/21/2006 11:31:45 AM

Needs about $0.40 more ... DIA $122.97 -0.12%

Jeff Bailey : 11/21/2006 11:30:39 AM

I see a beauty DIA trade setup for a call option ... the "cramp and ramp"...

Keene Little : 11/21/2006 11:28:13 AM

As part of a possible sideways consolidation that could run through tomorrow (and over to the uptrend line from November 3rd), I'm going to watch for the pullback from yesterday's high to be an a-b-c move down with equal legs. That's where I get ES 1399.50 I mentioned earlier.

Drawing a little parallel down-channel for the pullback shows me the bottom of the channel intersects 1399.50 at 1:00 today so now we'll watch to see if it gets tagged and then acts as support. It might be good for a scalp long if you want to try it. In the meantime we're in the middle of the chop and it's too risky either way. Link

Jeff Bailey : 11/21/2006 11:27:24 AM

11:10 Internals found at this Link

Jane Fox : 11/21/2006 11:25:40 AM

Keene sounds like we have too much time on our hands. :)

Keene Little : 11/21/2006 11:22:13 AM

Jane, sounds like Maidenform Brands lost their support.

Jane Fox : 11/21/2006 11:17:07 AM

Maidenform Brands volume 350K shares
Maidenform Brands shares fall on secondary offering
Why do I find these amusing?

Keene Little : 11/21/2006 11:13:09 AM

I came into this week thinking that I don't really want to trade since my expectation was for a choppy consolidation. At least I'm not sitting here frustrated at the lack of good trading opportunities since I had already resigned myself to the fact that there probably wouldn't be any. I'll make little slashing attacks and nibble on some moves but basically we don't have much to play with.

Jeff Bailey : 11/21/2006 11:12:56 AM

11:10 Market Watch found at this Link

Jeff Bailey : 11/21/2006 11:10:36 AM

U.S. Banks Q3 Earnings

DJ- U.S. third quarter bank earnings rose 8.6% from a year earlier to $37.6 billion, the second-highest quarterly total reported by the industry, the Federal Deposit Insurance Corporation said Tuesday.

Increased loan loss provisions, reduced servicing income and lower trading revenue at big banks and thrifts kept earnings from setting a new record, the FDIC said. Third quarter earnings were 1% lower than the second quarter's record high of $38.0 billion.

The average return on assets fell to 1.29% in the third quarter from 1.34% in the second quarter and 1.31% in the third quarter of 2005.

"A flat yield curve, a growing reliance on interest-sensitive funding sources and competitive pricing pressures all contributed to the downward pressure on net interest margins during the third quarter" of 2006, the FDIC said. Net interest margins in the third quarter reached the lowest point in 17 years.

Credit losses continued to decline on a year-over-year basis, but noncurrent loans - those 90 days or more past due or in nonaccrual status - rose nearly 7% within the third quarter. That was the second straight quarterly increase in non-current loans and the sharpest rise in five years.

Jeff Bailey : 11/21/2006 11:06:49 AM

I sold long 25 shares in my IRA at $99.6472.

Jeff Bailey : 11/21/2006 11:05:51 AM

NYX P/E 112.30 ... E/S Growth ????

Jeff Bailey : 11/21/2006 11:04:33 AM

You can ring that bell, bell, bell, ring that bell.... NYX $100.00 Link

Jeff Bailey : 11/21/2006 11:00:32 AM

GS $198.95 +0.75% Link ... P/E of 12.1 with E/S Growth of 13.33.

Jeff Bailey : 11/21/2006 10:59:11 AM

BSC $155.08 +0.20% Link ... P/E 11.8 with E/S Growth of 14.01

Jeff Bailey : 11/21/2006 10:57:37 AM

WFMI ... according to QCharts' fundamentals ... WFMI's P/E Ratio currently 34.7 and E/S Growth Rate 25.04.

Jeff Bailey : 11/21/2006 10:55:50 AM

One of the RIGHT, then WRONG I've seen lately is Link

Jeff Bailey : 11/21/2006 10:54:37 AM

Amazing how the MARKET, more times than not, is ALWAYS right.

Ooooo and when it is WRONG, it is quick to admit its mistake.

Jeff Bailey : 11/21/2006 10:52:37 AM

S&P Banking Index (BIX.X) 396.98 -0.28% Link ... At the end of Q3 2005, the BIX.X was trading 336.85. At the end of Q3 2005 the BIX.X was trading 393.17.

A 16% gain!

I know of at least 1 fundamental analyst that got the BIX.X wrong in the fall of 2005.

See THAT "Low Pole Warning?" ;)

Keene Little : 11/21/2006 10:46:55 AM

Here's an update to the ES 60-min chart I've been showing recently. We should be due either a pullback to the uptrend line from November 3rd or chop sideways over to it. If it's going to be more of the sideways consolidation then watch for ES 1399.50 (two equal legs down from yesterday's high) to be support. The uptrend line is currently near 1397.50. We should get another (final) rally leg after this correction. Link

Jeff Bailey : 11/21/2006 10:46:32 AM

FDIC: U.S. 3Q Bank Earnings Up 8.6% On Year to $37.6 Billion

Jane Fox : 11/21/2006 10:41:11 AM

VIX is not making new daily highs so this new ES daily low should not hold.

Jeff Bailey : 11/21/2006 10:37:44 AM

Here's a doosy ... UWN Link ... There's a High Pole Warning.

Sign me up! Gold AND a Casino rolled into one?

Jeff Bailey : 11/21/2006 10:34:42 AM

Alvarion (ALVR) $7.15 +0.28% Link ... Study this chart. Why did the Low Pole Warning in mid-May of 2004 play out BULLISH? Why DIDN'T the one in mid-May of 2005 play out bullish, yet fail? Did TREND have anything to do with it? Is risk/reward for BUYERS too unfavorable? What's the risk to another sell signal, or the BEARISH VERTICAL COUNT? Is the MARKET, or SECTOR weak, or out of favor?

Jeff Bailey : 11/21/2006 10:28:43 AM

No sector analysis available with a currency is there? Nope... just pure supply/demand. What's the P/E on a currency? What's its growth rate? Much more complex a currency. Thus the NEED for supply/demand analysis.

Jeff Bailey : 11/21/2006 10:27:32 AM

Euro/Koruna and its 18 "O"s, and a technique for NOT getting caught up in a "Low Pole Warning."

#1) Where's the bearish vertical count to?

#2) What HAS the security/stock done before?

#3) What SHOULDN'T it do in the future? Link

Keene Little : 11/21/2006 10:24:47 AM

I see I haven't missed a whole lot yet--just more chop. If you look at the way this chops higher, drops sharply, chops higher, drops, you can see the distribution pattern since last Wednesday. It looks like we could continue to chop higher from yesterday's low. Link

The whole premise for the rally the past few months, or so the bulls have been told, is because the Fed should be close to cutting rates. But Federal Reserve Gov. Kevin Warsh pretty much destroyed that idea this morning (see Jane's 9:36 post) and the market should have tanked big time. It's not and that should be enough evidence that there is bigger money behind this rally than the public's. When the music stops it could be painful for some who don't find a chair. I think that's why we're seeing a distribution pattern as the smart money gets out early.

Jeff Bailey : 11/21/2006 10:12:05 AM

Euro Dollar/Slovakian Koruna has 18 "O"s ...

Jeff Bailey : 11/21/2006 10:08:25 AM

Low Pole Warning ... These patterns are not so much a favorite among BULLS, but more importantly are patterns that BEARS should be alert to.

Eventually, selling dries up, and a stock reaches its FULL POTENTIAL, which the market long-ago figured out as a stock fell out of favor, often for fundamental reasons.

Those that have taken a 2-week FREE TRIAL at Dorsey/Wright and/or become long-time subscribers, will watch the "Stocks with 18 "O"s page.

Jeff Bailey : 11/21/2006 10:02:35 AM

10:00 Market Watch found at this Link

Jane Fox : 11/21/2006 10:00:09 AM

Google tops $500 level for first time

Jane Fox : 11/21/2006 9:57:29 AM

TICKS didn;t make it past -169 so can someone please tell me what just happened.

Jane Fox : 11/21/2006 9:56:43 AM

TRIN at 0.66 as well!

Jane Fox : 11/21/2006 9:56:32 AM

Weirdness today. AD volume making new daily highs and VIX was making new daily lows, an almost guarantee that at least ES will make new daily highs, but it fell instead.

Jane Fox : 11/21/2006 9:54:09 AM

That kind of felt like a (gulp) sell program but the TICKS didn't even make it lower than -169 so that was no sell program.

Jeff Bailey : 11/21/2006 9:53:09 AM

Dorsey/Wright and Associates has NYX in their WALLStreet Bullish %. See the Low Pole Warning back in June from $50 up to $65?

Jane Fox : 11/21/2006 9:50:50 AM

... little beggers are lying. :(

Jane Fox : 11/21/2006 9:50:21 AM

Well so much the internals talking to me today!

Jane Fox : 11/21/2006 9:48:00 AM

VIX is telling me ES is going to make new daily highs here soon.

Jeff Bailey : 11/21/2006 9:49:58 AM

NYSE Group (NYX) $97.70 +2.54% Link ... should go $100 at some point.

Jane Fox : 11/21/2006 9:43:27 AM

Oh this is fun. ER making new daily lows and NQ making new daily highs.

Jeff Bailey : 11/21/2006 9:43:23 AM

December Max Pain Tabulations

DIA= $120 ($1 increments)

SPY/SPX= $135/1,350 ($1/5-point increments)

OEX= 640 (5-point inc)

QQQQ/NDX= $43/1,725 ($1/5-point inc)

SMH= $35 ($2.50 inc)

Jane Fox : 11/21/2006 9:42:27 AM

NYSE advancers outnumber decliners 5 to 4
Nasdaq decliners outnumber advancers 12 to 11

Jane Fox : 11/21/2006 9:40:16 AM

Well folks the internals are talking today and they are saying don't even think about been short. TRIN and VIX falling and AD volume climbing. The bulls have the ball but not field advantage (AD line too low)

Jane Fox : 11/21/2006 9:39:07 AM

AD volume is climbing so I wouldn't be short but with the AD line at +230 its hard to get too bullish.

Jane Fox : 11/21/2006 9:37:51 AM

TRIN has now broken its PDl and printing a bullish 0.69.

Jane Fox : 11/21/2006 9:36:49 AM

WASHINGTON (MarketWatch) -- Inflation is "uncomfortably elevated" despite coming down from where it was earlier this year, but the overall economy is expected to strengthen, Federal Reserve Gov. Kevin Warsh said Tuesday.

In a speech prepared for delivery at the New York Stock Exchange, Warsh said the U.S. economy has proven "remarkably resilient" in recent years and that he expects it to remain so in the period ahead.

Still, Warsh said, inflation remains a concern.

"Inflation, though down somewhat from its level earlier this year, remains uncomfortably elevated," he said in his prepared remarks.

"Financial market prices imply that inflation will continue its gradual but persistent downward track during the forecast period," Warsh continued. "There remain, I believe, clear upside risks to that inflation outlook," he said

Jane Fox : 11/21/2006 9:34:00 AM

I wouldn't be expecting a very big range today and I suspect it will be a very good day to catch up on your reading.

Jane Fox : 11/21/2006 9:32:16 AM

AD line is +234 and AD volume above 0 and climbing.

Jane Fox : 11/21/2006 9:04:31 AM

Gold is now testing its PDH and I think it will break through, of course, you have to keep in mind I am bullish on Gold longer term and that could be influencing my opinion.

TBonds were not able to break out of their PDR overnight which isn't saying much becauase their PDR was quite narrow.

CRude bullishly broke its PDH overnight but who knows with this market. Charts are hard to read and may remain that way for some time because of the political environment playing such a hugh role.

Natural Gas was as volatile overnight as it was yesterday. That is one wild market. Link

Jane Fox : 11/21/2006 8:57:17 AM

Good morning all. All markets stayed within their PDRs overnight but have an upward bias. NQ even tested its PDH but was not able to break through. Link

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