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Jeff Bailey : 11/30/2006 12:14:45 AM

Just a thought ... instead of averaging down into a mutual fund that shorts NDX at this point Link and Link , maybe averaging up into your "energy" group an alternative.

Jeff Bailey : 11/30/2006 12:06:14 AM

Oil Service Sector Bullish % (BPOILS) achieves "bull confirmed" status. Link

Jeff Bailey : 11/29/2006 11:42:38 PM

Schlumberger (SLB) $68.03 +3.59% Link ... OEX component gives a reversing higher PnF buy signal ($67). A triple top buy signal at that!

Jeff Bailey : 11/29/2006 11:20:45 PM

NYSE, NSDQ, SPX and RUT NH/NL data at this Link

I don't get the RUT NH/NL figures until later at night and don't always populate my table with them.

Jeff Bailey : 11/29/2006 11:04:58 PM

On Tuesday, the RUT.X NH/NL was the only index inverted at 17:23, and did bounce back today at 68:11.

Jeff Bailey : 11/29/2006 11:02:45 PM

DAILY/WEEKLY/MONTHLY Index Pivot Matrix Link ... SPY did kiss its WEEKLY Pivot first time this week and after a MONTHLY R1 yesterday, VIX.X resistance (call buyers/put sellers outnumber call sellers/put buyers) at MONTHLY Pivot.

Might see a narrow trade tomorrow. Last day of the month.

Keene Little : 11/29/2006 10:04:58 PM

Thursday's pivot tables: Link and Link

OI Technical Staff : 11/29/2006 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The Market Monitor has been archived.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.

Tab Gilles : 11/29/2006 8:39:14 PM

Nasdaq100/Profunds UltraShort OTC USPIX/$NASI/$$BPNDX/$NDXA200 Link

Tab Gilles : 11/29/2006 7:31:31 PM

Weekly EIA Report Link

Keene Little : 11/29/2006 5:07:26 PM

Another interesting thing about tomorrow, especially if we get a small pop higher in the morning and then a sell off, is that the Bradley Model calls for a market high on November 30th, +/- 3 days.

Keene Little : 11/29/2006 5:04:30 PM

I've been showing the weekly chart of SPX in my Market Wraps and how price is pressing the top of its parallel up-channel formed since the high in January 2004. A similar channel for the NYSE, with the top parallel line attached to the January 2004 high, shows potential resistance near 9060, about 110 points above today's close. The top of its ascending wedge for price action since July intersects that level at the end of next week. Link

So if the DOW's chart, which shows a setup to get short tomorrow, is not the correct setup then we should see new highs ahead and the NYSE pressing for that 9060 area. But interestingly, NYSE has been bumping its head at 8947 (it has poked a little higher) which is a Fib projection based on an equal leg up to the first one in its up-channel from August 2004. This is another one of those "measured moves" that often marks a turning point. I continue to believe the long side to be the risky side but obviously it doesn't preclude seeing new highs. I just wouldn't trust new highs.

Jeff Bailey : 11/29/2006 5:01:02 PM

Closing Internals found at this Link

Jeff Bailey : 11/29/2006 4:56:32 PM

Natural Gas Index (XNG.X) 470.22 +3.22% Link ... new all-time high after recent spread triple top buy.

Jeff Bailey : 11/29/2006 4:39:37 PM

AMEX Composite (XAX.X) 2,059.57 +0.96% Link ... closes at an all-time high!

Jeff Bailey : 11/29/2006 4:35:40 PM

Good Gravy! NYSE Comp. just about matches its recent all-time closing high of 8,948.94.

Jeff Bailey : 11/29/2006 4:24:27 PM

Closing U.S. Market Watch found at this Link

Keene Little : 11/29/2006 4:13:34 PM

Here's a 120-min chart of the DOW that I've used before to show the 125-point "bands" that this seems to have been trading in its rally since August. These are obviously only a guide to what's been happening but it's interesting that it's bouncing back up to the 12250 band while at the same place will test its broken uptrend line from July. That would be a good place to test a short but I will admit shorting this market continues to be a challenge. We might only get a pullback before resuming higher but it'll be worth a try. Link

Jeff Bailey : 11/29/2006 4:11:33 PM

BHI $73.84 +4.47% Link ... closes juuuust above its 200-day SMA.

Kind'a reminds me of good'ol browny just a few weeks ago (11/13/06) Link

Jeff Bailey : 11/29/2006 4:01:59 PM

Preliminary Bull Target for the Baker Hughes Jan 70 Calls is $79.50.

Marc Eckelberry : 11/29/2006 4:02:01 PM

SPX should close below 1400. Lats week's ES close at 1403 is resistance. This bounce is more end of month adjustments and short covering. Distribution should resume soon, especially with gasoline about to climb higher in time for the holidays. Stocks are expensive and will be sold on rallies.
Semis are weak and profit taking was apparent earlier in AAPL and GOOG.

Jeff Bailey : 11/29/2006 3:47:39 PM

OIH bulls wanted to see $146 to avoid a "bull trap" pattern. Sector was still "bull alert" at 51.85% last night. Needs 56% to get "bull confirmed."

Jeff Bailey : 11/29/2006 3:43:27 PM

The gloves have come off! OIH $146.00 +3.87% Link

Jeff Bailey : 11/29/2006 3:40:32 PM

A trend day indeed! ... YM 12,261

Jeff Bailey : 11/29/2006 3:27:37 PM

British Air: Contacting Passengers From 2 Planes

DJ- British Airways (BAY.LN) said Wednesday it would contact passengers who flew on two jets that were found to have traces of radiation.

Authorities searched the two British Airways 767 jetliners as investigators widened their search for clues into the poisoning death of former Russian spy and Kremlin critic Alexander Litvinenko.

Home Secretary John Reid disclosed the search following a meeting with COBRA, the government's emergency committee. Reid said two planes had been tested so far and that another would be.

The initial results of the forensic tests had shown very low traces of a radioactive substance onboard two aircraft, British Airways said.

The company added that the investigation is confined to the three planes, which will remain out of service until further notice.

High doses of polonium-210 - a rare radioactive element usually manufactured in specialized nuclear facilities - were found in Litvinenko's body, and traces of radiation have been found at sites in London connected with the investigation of his death.

Jeff Bailey : 11/29/2006 3:15:33 PM

03:00 Internals found at this Link

Keene Little : 11/29/2006 3:13:16 PM

If the 2-day rally we've seen forms a 5-wave move, which it appears it will, then a 38-62% retracement of that rally will offer us a potential support zone to try a long for a run to a new market high. I'm not sure I like that setup yet but so far that's what appears to be in the cards here. In the meantime keep an eye on ES 1403.75 for a potential high for the rally.

Jeff Bailey : 11/29/2006 3:06:20 PM

Selling long CPKI $31.65 +2.92% here. Just shy of WEEKLY R2 $31.70 into Small Cap 600 addition

Jeff Bailey : 11/29/2006 3:02:07 PM

03:00 Market Watch found at this Link

Keene Little : 11/29/2006 2:59:59 PM

With ES pushing higher again, it could create a 5-wave move up off yesterday's low. That would look bullish for another run to new highs. It could turn into a more corrective rally by pulling back marginally and then a new high but that's just speculation right now. For the time being if it gets a 5th wave up that matches its 1st wave up then watch 1403.75 for a high to then be followed by a larger pullback. Chop chop could be the name of the game here.

Jeff Bailey : 11/29/2006 2:56:56 PM

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

Jane Fox : 11/29/2006 2:55:06 PM

Ticks +1000

Jeff Bailey : 11/29/2006 2:54:13 PM

YM alert 12,242

Keene Little : 11/29/2006 2:54:13 PM

Nope, spiked out my trade too. Just too choppy in here to recommend anything further.

Jeff Bailey : 11/29/2006 2:48:42 PM

I get the feeling you're right Keene.

YM 12,227

Keene Little : 11/29/2006 2:45:47 PM

This is a trade to see if this is just a corrective bounce that will lead to another drop lower. But I don't want to hang around long if it goes against me.

Keene Little : 11/29/2006 2:44:24 PM

Both ES and YM have run into their downtrend line off this morning's highs and both achieved the level where the bounce off this afternoon's low has two equal legs up. So it's a good place to try a short (ES 1398.75) with a stop at 1400.75).

Jeff Bailey : 11/29/2006 2:39:25 PM

5-minutes too early I guess.

Jeff Bailey : 11/29/2006 2:37:02 PM

YM 12,220

Jeff Bailey : 11/29/2006 2:36:07 PM

YM 12,211 ... or a wider stop of 12,185

Jeff Bailey : 11/29/2006 2:33:57 PM

YM 5-minute interval chart at this Link ... wasn't the best place at 12,212 to be looking long, but I feel I might have missed the bettern enty on that pullback to DAILY R1.

Keene Little : 11/29/2006 2:30:41 PM

I get the feeling this is a jab down to get some liquidity for a push higher.

Jeff Bailey : 11/29/2006 2:28:49 PM

YM Long stop alert 12,200

Jeff Bailey : 11/29/2006 2:22:41 PM

YM go long alert lets go long here at 12,212. Stop 12,200, target 12,242

Keene Little : 11/29/2006 2:19:04 PM

As we head into the end of this week we could see a little extra buying pressure coming from end-of-month buying and then new-month money for December. If the best that that new money can do is give us a sideways/up consolidation then it should be a good sign that we should expect another leg down from this.

Keene Little : 11/29/2006 2:05:56 PM

No reaction out of the Beige Book. Only a little pop in bond yields but that's about it.

Jeff Bailey : 11/29/2006 2:04:14 PM

When I see Dallas, I think "energy" (oil/nat gas)

Jeff Bailey : 11/29/2006 2:03:18 PM

Fed Beige Book at this Link

Keene Little : 11/29/2006 1:58:08 PM

Short covering heading into the Fed Beige book, or the start of the next leg up?

Jane Fox : 11/29/2006 1:48:52 PM

Wonderful day for trading if you can figure how to pick the tops and bottoms.

Jane Fox : 11/29/2006 1:48:05 PM

TICKs +1000

Jane Fox : 11/29/2006 1:47:44 PM

TICKS back to +800. Bulls are not dead yet.

Keene Little : 11/29/2006 1:42:59 PM

ES and YM still have the potential to turn the bounce off yesterday's low into a 5-wave move up. Their pullbacks have not yet dropped below yesterday morning's bounce so the current pullback could be a 4th wave correction to the rally off yesterday's low. That's not my preferred count here but entirely possible. At a minimum we should get a correction now to the decline from today's high.

Jeff Bailey : 11/29/2006 1:37:21 PM

Sirius Satellite (SIRI) $4.11 -1.43% ... stuck its head above WEEKLY Pivot this morning ($4.19), but session lows here. Weekly S1 $4.02.

Thinking of "changing stations" on this one after BAC's comments Monday morning.

Jane Fox : 11/29/2006 1:35:38 PM

TICKS -800. Who would have thunk. So much for my creditability now

Jeff Bailey : 11/29/2006 1:35:24 PM

XM Satellite Radio (XMSR) $13.88 -2.80% ... back at its WEEKLY S2 and probes yesterday's lows.

Keene Little : 11/29/2006 1:35:13 PM

This started off as a stealth decline and is now accelerating. NQ has dropped below yesterday morning's bounce high which turns the whole bounce off yesterday's low into just a 3-wave correction of the decline. That's bearish.

Jane Fox : 11/29/2006 1:35:01 PM

This kind of action today should be telling us that a longer term top is probably in now.

Jane Fox : 11/29/2006 1:34:18 PM

Well this is certainly more than a corrective pullback. I would have never guessed and my hat goes off to Keene who nailed this one. I like to trade the most likely scenario and I was convinced it was up because I have seen many many days like this before. This is quite a change from the way the market reacted before and I must give the bears a great deal of comfort to know they were able to intercept the ball this way.

Keene Little : 11/29/2006 1:31:04 PM

ES is about to tag its uptrend line from Tuesday's low, near 1395.50. It's also back down to its 30-min 100/130-pma's at 1396 (after breaking above them this morning). So the bulls need to hold it here if they want to see new highs.

Jeff Bailey : 11/29/2006 1:30:42 PM

YM 12,209.

Jeff Bailey : 11/29/2006 1:30:27 PM

Beige Book at 02:00 PM EST. Expected some pullback into that report after Monday's rather sudden decline. Beige Book is anecdotal, but worth a read.

Jeff Bailey : 11/29/2006 1:26:27 PM

"Bad Tick" in December Copper (hg06z) to $1.13 ... trading $3.13 here.

Keene Little : 11/29/2006 1:14:54 PM

The question here is whether the pullback from this morning's high is a bull flag or the start of the next leg down. It looks ready for another bounce up and if it breaks above the top of the flag then we can expect a new daily high. But if ES bounces up to about 1400 which is followed by another low then we'll have a good idea that a top is in for the bounce. Link

Jeff Bailey : 11/29/2006 1:13:22 PM

01:00 Internals found at this Link

Jeff Bailey : 11/29/2006 1:02:53 PM

YM short target alert 12,220

Jeff Bailey : 11/29/2006 1:01:48 PM

01:00 Market Watch at this Link

Jane Fox : 11/29/2006 12:57:22 PM

I'm telling 'ya don't even think about been short. Link

Jeff Bailey : 11/29/2006 12:57:10 PM

YM short lower stop alert ... to 12,240 and break even.

YM 12,233

Jane Fox : 11/29/2006 12:50:25 PM

The MAs were mislabelled on my last QM chart. Link

Jane Fox : 11/29/2006 12:48:56 PM

Crude is breaking out of its downward channel and this may be a very good time to get long the crude ETF, USO. It may find some resistance at the 50EMA but support should be found at the upper trendline of the channel. Link

Jane Fox : 11/29/2006 12:39:56 PM

Nasdaq most active stocks: COMS CSCO INTC MSFT AAPL
NYSE most active stocks: LU PFE T Q F

Jeff Bailey : 11/29/2006 12:37:55 PM

YM 12,234 ... 38.2% dynamic found some buyers. DAILY R2 and is my target with 50% dynamic and WEEKLY S2 overlap.

Jeff Bailey : 11/29/2006 12:33:48 PM

Ameritrade (AMTD) 17.14 -0.81% ... hits daily Pivot

Jeff Bailey : 11/29/2006 12:31:51 PM

YM short lower stop alert ... to 12,245.

YM 12,228

Keene Little : 11/29/2006 12:24:11 PM

If we're to get another leg up before this bounce fails, look for support at YM 12232 and ES 1398.75 (two equal legs down in its pullback).

Jeff Bailey : 11/29/2006 12:23:40 PM

YM short alert here at 12,240, stop 12,252, target 12,220

Keene Little : 11/29/2006 11:52:04 AM

The small pullback from the high continues to look like a bull flag so the "one more high" could still happen. That's the one I want to see if we have negative divergences, and ES topping out under 1404.50, to try another short. It could continue to drop from here in which case I'll try a bounce to get short.

Jeff Bailey : 11/29/2006 11:51:06 AM

Red Hat (RHAT) $17.09 -0.11% ...

Sirius Satellite (SIRI) $4.17 (unch) ...

Keene Little : 11/29/2006 11:49:33 AM

Countering Jane's argument (after all, we need to make a market) is my expectation that the bounce we're in is a 2nd wave bounce, a correction to the wave-1 decline from last week's high. These corrections tend to look very bullish and the buy-the-dip crowd tends to get pulled in on these. My EW count could be wrong here but until proven otherwise I think this bounce is where you want to add to your longer term short position.

Jane Fox : 11/29/2006 11:43:22 AM

NEW YORK (MarketWatch) - Alan Levenson, chief economist for T. Rowe Price, said Wednesday the U.S. economy is in the midst of a soft landing that began in the middle of 2006. He added that, unlike some on Wall Street who predicted the Federal Reserve might cut interest rates, there would be "little if any easing on tap for 2007." The correction in new home sales has further to go, Levenson said, but added that most of the correction on housing starts was over. Levenson was speaking at the T. Rowe Price 2007 Investment and Economic Outlook conference. (Reporting by Steve Gelsi.)

Jeff Bailey : 11/29/2006 11:41:16 AM

Bullish swing trade call option alert for one (1) of the Baker Hughes Intl. BHI Jan $70 Calls (BHI-AN) at the offer of $4.90.

BHI $72.41 +2.43% Link

Jane Fox : 11/29/2006 11:40:44 AM

I have seen these kind of days before and the buying just never lets up. You will get pullbacks that can be traded if you are fast but the best trade today is "buy the dips." I truly do not think you will see any kind of selling today.

Keene Little : 11/29/2006 11:25:17 AM

ES weekly pivot at 1404.50 is another potential resistance level.

Jeff Bailey : 11/29/2006 11:23:30 AM

Could be a trend day

Jeff Bailey : 11/29/2006 11:23:08 AM

Tough to even try and pick an intra-day top if looking to short a peak.

Jeff Bailey : 11/29/2006 11:22:41 AM

BIX 393.95 +0.97% ... still above their WEEKLY S1.

Jeff Bailey : 11/29/2006 11:22:05 AM

YM 12,249 ... did get a trade at WEEKLY S1. Let's check those BIX, they were WEEKLY S1 earlier.

Keene Little : 11/29/2006 11:21:34 AM

Another new minor high with negative divergences will have me testing the short side again. I've got some Fibs for this move up at ES 1403.75 so that's where I'll be watching to see if it tops out there. I see upside risk at this point to about 1405.

Jeff Bailey : 11/29/2006 11:19:46 AM

11:00 Internals found at this Link

Jeff Bailey : 11/29/2006 11:09:08 AM

YM short setup cancel order alert (10:58:47) ... YM 12,243 ...

Keene Little : 11/29/2006 11:06:59 AM

Stopped out of short play and now watching to see where this might be topping next. It still looks like a correction to the decline but obviously it's turning into a big correction.

Jane Fox : 11/29/2006 11:06:34 AM

Hopefully you were not caught short. The internals were telling you this was the most likely scenario.

Jeff Bailey : 11/29/2006 11:02:40 AM

YM alert ... 12,225

Jeff Bailey : 11/29/2006 11:02:19 AM

11:00 Market Watch found at this Link

Jeff Bailey : 11/29/2006 10:59:32 AM

YM short setup alert ... look to short the YM if it does this ... it has to trade 12,225 first. Then, if it does, short weakness back at 12,212. Stop goes 12,226 with a target of 12,180.

YM 12,217

Jane Fox : 11/29/2006 10:53:49 AM

DAteline WSJ - Sen. Frist says he won't run for president in 2008 and instead will return to health-care.

Jeff Bailey : 11/29/2006 10:43:30 AM

EIA: Heating Oil Inventory down 1.06 million barrels

Keene Little : 11/29/2006 10:43:27 AM

If you shorted this morning's bounce I'd lower the stop now to a new daily high. It could be subject to whipsaw there but I like to reduce risk on my trade as soon as I can. The resistance levels hit should mark a top to this bounce. The semis just went red so that's a good sign for a short play here.

Jane Fox : 11/29/2006 10:43:00 AM

This may be a nice dip to buy.

Jeff Bailey : 11/29/2006 10:42:40 AM

EIA: ULS Diesel Inventory up 369,000 barrels.

Jane Fox : 11/29/2006 10:41:09 AM

SAN FRANCISCO (MarketWatch) -- The Energy Department said crude supplies fell for the first time in five weeks, down 300,000 barrels at 340.8 million for the week ended Nov. 24. Motor gasoline supplies fell 600,000 barrels to 201.1 million. Distillate inventories stocks fell for an eighth-straight week, down 1 million barrels to total 132.8 million barrels. Following the news, January crude rose 56 cents to $61.55 a barrel. December unleaded gas added 1.09 cents to $1.6375 a gallon and December heating oil traded at $1.755 a gallon, up 2.67 cents.

Jane Fox : 11/29/2006 10:38:19 AM

* Crude supply down 300,000 brls last week:
* Distillate supply down 1 mln brls:
* Gasoline supply down 600,000 brls:

Jane Fox : 11/29/2006 10:34:43 AM

Now many times have you seen these two this strong and were decimated when trying to get short. Link

Keene Little : 11/29/2006 10:23:32 AM

YM 12239 is a 50% retracement of the decline from last week's high.

Keene Little : 11/29/2006 10:22:53 AM

YM is back up to its broken uptrend line from July, here at 12235.

Jane Fox : 11/29/2006 10:22:51 AM

VIX and AD volume are in sync and telling me to stay long, we have more upside from here.

Jeff Bailey : 11/29/2006 10:13:54 AM

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

Jane Fox : 11/29/2006 10:13:43 AM

* NYSE volume 221M
* NYSE has 2,182 advancers
* NYSE has 567 decliners
* NYSE has 173 issues unchanged
* NYSE has 119 issues setting 52-week highs
* NYSE has 9 issues setting 52-week lows
* Nasdaq volume 336M
* Nasdaq has 1,797 advancers
* Nasdaq has 617 decliners
* Nasdaq has 136 issues unchanged
* Nasdaq has 63 issues setting 52-week highs
* Nasdaq has 28 issues setting 52-week lows

Keene Little : 11/29/2006 10:11:26 AM

No problem Jane, just trying to figure out where this might top. ES just tagged its 1399 level (62% retracement and 2nd leg up equals 162% of the 1st).

Jane Fox : 11/29/2006 10:09:22 AM

Sorry Keene. Didn't mean to step on your comments. I should have waited for that post.

Jane Fox : 11/29/2006 10:08:08 AM

THis is not a day to try shorting.

Keene Little : 11/29/2006 10:06:54 AM

Here's ES 1397.75. I'd say it's a good place to try a short, stop at 1400.50.

Jeff Bailey : 11/29/2006 10:06:45 AM

VIX 11.12 hits WEEKLY R1

Jeff Bailey : 11/29/2006 10:06:06 AM

YM 12,216 ... gets the trade at WEEKLY S2.

Jeff Bailey : 11/29/2006 10:04:41 AM

NYSE a/d 2190/599

NASDAQ 1868/629

Jeff Bailey : 11/29/2006 10:03:18 AM

10:00 Market Watch found at this Link

Jeff Bailey : 11/29/2006 9:56:21 AM

Bullish swing trade long raise stop alert on the 1/2 position in the StreetTracks Gold (GLD) $63.35 -0.36% Link ... to $61.20.

Keene Little : 11/29/2006 9:55:44 AM

Note that we have slightly different values for the pivot numbers based on the closing numbers we use.

Keene Little : 11/29/2006 9:55:06 AM

Jeff, good point about that weekly S2 number. The fact that daily R2 is close to the weekly S2 could form some tough resistance if tagged (YM 12217-12223. ES has daily R2 at 1397.75 which is also its weekly S1.

Jeff Bailey : 11/29/2006 9:50:40 AM

The way the YM just fell through WEEKLY S2 on Monday, I'd have to think there might be some computers set to sell there.

Jeff Bailey : 11/29/2006 9:49:18 AM

YM 12,205 ... little "zone" of resistance at today's DAILY R2 of 12,220 and WEEKLY S2 12,216. I want to trade the YM long again today, but not here.

Jane Fox : 11/29/2006 9:46:20 AM

AD line +1670

Jane Fox : 11/29/2006 9:46:09 AM

TICKS +1000

Jeff Bailey : 11/29/2006 9:42:16 AM

YM 12,190 ... just above yesterday's bullish target and back to trend.

Jane Fox : 11/29/2006 9:41:46 AM

Don't even think about being short.

Jane Fox : 11/29/2006 9:39:26 AM

A picture is worth a 1000 words. Link

Keene Little : 11/29/2006 9:40:03 AM

From a Fib standpoint I see risk to 1399--2nd leg up from yesterday would equal 162% of the 1st leg at that level and it would be a 62% retracement of the decline from last week's low.

Jane Fox : 11/29/2006 9:37:02 AM

TRIN 0.71 and falling. Any doubt at all who has the ball and field advantage.

Jane Fox : 11/29/2006 9:36:11 AM

Oh my goodness AD line is +1416!

Keene Little : 11/29/2006 9:36:01 AM

ES's 30-min 100 and 130-pma's are just under 1396 so that may be resistance to this morning's bounce. I like 1395-1396 as an area to look to short.

Jane Fox : 11/29/2006 9:35:52 AM

TICKS +800 and VIX to new daily lows.

Jane Fox : 11/29/2006 9:21:49 AM

NQ is breaking its overnight highs but the only market to do so.

Keene Little : 11/29/2006 9:19:21 AM

The pre-market bounce is a little higher than I thought we'd see this bounce get to. Instead of a small ascending wedge as I thought might be forming from yesterday's low I'm now going to watch the top of a parallel up-channel, a bear flag, from yesterday's low. That's at ES 1395, YM 12212 and NQ 1794. NQ just tagged that level so watch that one for some clues out of the gate.

Jane Fox : 11/29/2006 8:51:36 AM

Equity markets and especially ER and NQ really liked the GDP data out at 8:30. I think today will be a bullish day but will use the internals to tell me how bullish. Link

Jane Fox : 11/29/2006 8:48:36 AM

NEW YORK (MarketWatch) - Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. , better known by its trade name OMA, is taking flight on Wednesday as the second Mexican airport operator this year.

OMA (OMAB) priced 20.9 million American depositary receipts at $18 a share, raising $376 million for its U.S. initial public offering.

In a sign of strength, OMA priced above its estimated range of $14.50-$16.50 a share.

Proceeds in the IPO will go to the Mexican government in its second U.S. flotation this year

Jane Fox : 11/29/2006 8:47:34 AM

WASHINGTON (MarketWatch) - The U.S. economy grew at a 2.2% annual pace in the third quarter, a bit faster than the initial estimate of 1.6%, the Commerce Department reported Wednesday in its first revision to the gross domestic product report.

The revisions were largely due to higher building of inventories and lower imports than originally assumed. Business investment also grew more than first thought, while consumer spending was slightly slower.

Final sales of domestic product increased 2.1%, up from the 1.7% originally reported. A key measure of core inflation was revised a tenth lower to 2.2%. Year-over-year growth in the core personal consumption expenditure price index was unrevised at 2.4%, well above the Federal Reserve's implied target of 1% to 2%.

The economy has grown 3% in the past year in real terms, just about the rate economists say is the long-term potential. In nominal terms, GDP was at an annual rate of $13.33 trillion in the third quarter.

Economists expected GDP to be revised up to 1.8%, according to a survey conducted by MarketWatch.

The small revisions to GDP probably won't alter the views of the Federal Reserve or private economists about economic growth or inflation.

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