tag:blogger.com,1999:blog-226042392024-03-12T21:50:41.071-04:00THE SHARK REPORTDAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.comBlogger3546125tag:blogger.com,1999:blog-22604239.post-34397197148267499032010-11-22T07:30:00.004-05:002010-11-22T07:52:17.060-05:00MORNING LINKS<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TOpnZyKL6CI/AAAAAAAAFKU/MLZeJz8N40g/s1600/mlb_g_dykstra1_200.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 200px; FLOAT: left; HEIGHT: 300px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5542355984091703330" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TOpnZyKL6CI/AAAAAAAAFKU/MLZeJz8N40g/s320/mlb_g_dykstra1_200.jpg" /></a><br /><div>Futures were ramping last night on the heels of the news of the Irish accepting a bailout to the tune of 100B Euros- and the EURO was smoking and the dollar dipping. This morning not so much as the futures have flipped to flat and the dollar back to near flat.</div><br /><div></div><br /><div>Gold/Silver/Crude all up a hair after being up significantly over night.</div><br /><div></div><br /><div>RSI 2 levels over bought and up near 80- on most major indexes with the RUT higher and the DJIA lower.</div><br /><div></div><br /><div>Lots of folks take the short week off but the <a href="http://quantifiableedges.blogspot.com/2010/11/thanksgiving-week-tendencies-revisited.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+QuantifiableEdges+%28Quantifiable+Edges%29&utm_content=Bloglines"><strong><em><span style="color:#000000;">Quant</span></em></strong></a> has some interesting stats on this week and the Monday after.</div><br /><div></div><br /><div>SAC Capital in the <a href="http://www.businessinsider.com/fbi-sac-capital-insider-trading-2010-11"><strong><em><span style="color:#000000;">cross hairs</span></em></strong></a> - fine line between great info and inside info - to be determined.</div><br /><div></div><br /><div>A strong <a href="http://www.businessinsider.com/total-consumer-credit-outstanding-vs-total-nonfarm-payrolls-2010-11?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29&utm_content=Bloglines"><strong><em><span style="color:#000000;">holiday season</span></em></strong></a> - hmmm.</div><br /><div></div><br /><div>Debunking the <a href="http://www.ritholtz.com/blog/2010/11/etf%e2%80%99s-firm-foundations/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29&utm_content=Bloglines"><strong><em><span style="color:#000000;">ETF issues</span></em></strong></a>- probably.</div><br /><div></div><br /><div><a href="http://www.ritholtz.com/blog/2010/11/barrons-putbacks-to-banks-could-be-134-billion/"><strong><em><span style="color:#000000;">Putbacks</span></em></strong></a> now could get some attention.</div><br /><div></div><br /><div>Finally- that great options trader <a href="http://www.tmz.com/2010/11/22/lenny-dykstra-doggy-german-sheppard-dog-broke-repossessed-court-legal/"><strong><em><span style="color:#000000;">Lenny </span></em></strong></a>back in the news as some folks stop at nothing when it comes to repossessing your stuff.</div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com23tag:blogger.com,1999:blog-22604239.post-47470720150354948952010-11-16T12:21:00.003-05:002010-11-16T12:36:01.050-05:00MIDDAY CRUSH<a href="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TOLA48A2VUI/AAAAAAAAFKM/0L4ZGeK8sp8/s1600/GLD.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5540202576034026818" border="0" alt="" src="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TOLA48A2VUI/AAAAAAAAFKM/0L4ZGeK8sp8/s320/GLD.png" /></a><br /><div>Lots of important stuff happening today - <a href="http://news.yahoo.com/s/yblog_technews/20101116/tc_yblog_technews/the-beatles-arrive-on-itunes-at-last"><strong><em><span style="color:#000000;">beatles,</span></em></strong></a> the<a href="http://www.cnn.com/2010/WORLD/europe/11/16/uk.prince.william.engaged/index.html"><strong><em><span style="color:#000000;"> Prince</span></em></strong></a>, <a href="http://firstread.msnbc.msn.com/_news/2010/11/16/5476293-rangel-convicted-of-breaking-house-rules"><strong><em><span style="color:#000000;">Rangel</span></em></strong></a> and probably even more stuff but I am going to focus on the crushing of the equity markets.</div><br /><div></div><br /><div>As I type - SPX -21, DJIA -205 and the NAZ -45.</div><br /><div></div><br /><div>Internals as ugly as they get:</div><br /><div></div><br /><div>SPX 17/482;</div><br /><div>NDX 4/96;</div><br /><div>NYSE 2655 net losers;</div><br /><div>RUT 175/1665;</div><br /><div></div><br /><div>RSI 2 levels - most major indexes @/near 2;</div><br /><div></div><br /><div>10 year note unchanged at 2.911%;</div><br /><div></div><br /><div>VIX +13% @ 22.8 and about 17% above the SMA 10;</div><br /><div></div><br /><div>SPX about 10 points above the SMA 50 @1165.</div><br /><div></div><br /><div>Gold/commodities crushed as the dollar rips higher +.9% on the DXY @79.39- the highest level since the end of September.</div><br /><div></div><br /><div>I bought some stuff higher and hanging on for now as I suspect a bounce coming shortly - although a close today at /near the lows would not surprise- so may add at end of day.<br /></div><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com7tag:blogger.com,1999:blog-22604239.post-14596155040237308192010-11-15T10:34:00.003-05:002010-11-15T10:43:09.772-05:00MORNING CHECK<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TOFU9yGkJXI/AAAAAAAAFKE/k5KVVbFNijE/s1600/SPX%2B111510.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5539802437040481650" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TOFU9yGkJXI/AAAAAAAAFKE/k5KVVbFNijE/s320/SPX%2B111510.png" /></a><br /><div>Equities are trading a bit higher led by gaming, banks, brokers, trannies and biotech- lagging sectors include internets, nat gas, homies, emerging market bonds and semis.</div><br /><div></div><br /><div>Gold up $3 and silver higher by .6% at $26.21;</div><br /><div></div><br /><div>Oil up 50 cents at 85.35;</div><br /><div></div><br /><div>Equity internals:</div><br /><div></div><br /><div>NYSE 730 net winners;</div><br /><div>NDX 64/36;</div><br /><div>SPX 350/140;</div><br /><div>RUT 1150/625;</div><br /><div></div><br /><div>WINNERS- F MS DELL LOW CL RF WFC NSC HPQ JOYG WYNN VRTX LINTA CTAS;</div><br /><div>LOSERS AMZN EXPE MRVL QCOM PCLN XLN ERTS BIDU UNH DIS EMC WAG;</div><br /><div></div><br /><div>Still looks to be buy the dip time but looking for a rally that lasts more than a morning- </div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com28tag:blogger.com,1999:blog-22604239.post-14070772055573068672010-11-15T08:17:00.003-05:002010-11-15T08:33:08.810-05:00EARLY QE LOOK<a href="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TOE2ioKmICI/AAAAAAAAFJ8/bbGdkxezCFA/s1600/08-06-15_blinder.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 273px; FLOAT: left; HEIGHT: 320px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5539768985167732770" border="0" alt="" src="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TOE2ioKmICI/AAAAAAAAFJ8/bbGdkxezCFA/s320/08-06-15_blinder.jpg" /></a><br /><div>Equities took a drubbing last week on the heels of a scare out of China that they were nipping growth in the bud- probably not going to happen.</div><br /><div></div><br /><div>This morning - futures are moving up as the dollar is down - and the markets are a bit over sold- in the short term:</div><br /><div></div><br /><div>RSI 2 readings as follows:</div><br /><div></div><br /><div>SPX 9</div><br /><div>DJIA 5</div><br /><div>NAZ 9</div><br /><div>NDX 7</div><br /><div>GOLD 11</div><br /><div></div><br /><div>VIX- not telling much as it is about 6% above the SMA 10.</div><br /><div></div><br /><div>Bought some USO on Friday and looking to add more longs today as I suspect equities will rally into the end of the year- lots of folks under performing whose main hope is to buy dips - and it just dipped.</div><br /><div></div><br /><div>Just read the WSJ post by <a href="http://online.wsj.com/article/SB10001424052748704658204575611052418939656.html"><strong><em><span style="color:#000000;">Alan Blinder</span></em></strong></a> on QE2- liked it and agree with it - he makes lots of good sense.</div><br /><div></div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com7tag:blogger.com,1999:blog-22604239.post-26103458447793278152010-11-01T10:20:00.003-04:002010-11-01T10:33:56.052-04:00HAPPY STARTS<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TM7PygrI3fI/AAAAAAAAFJ0/Qj2ViCM7gz0/s1600/brett-favre-mistake-krtphotoslive393177-SPORTS-FBN-SAIN.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 320px; FLOAT: left; HEIGHT: 197px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5534589458756197874" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TM7PygrI3fI/AAAAAAAAFJ0/Qj2ViCM7gz0/s320/brett-favre-mistake-krtphotoslive393177-SPORTS-FBN-SAIN.jpg" /></a><br /><div>Equities have ramped higher this morning on the heels of good econ news out of China and an up beat ISM number reported at 10.00 AM EST.</div><br /><div></div><br /><div>SPX +10.6, NAZ +20 and the DJIA +105.</div><br /><div></div><br /><div>Strongest sectors- gaming, emerging markets, oil service, reits and real estate while metals, bonds, brokers, retail and biotech/drugs lag.</div><br /><div></div><br /><div>Market internals:</div><br /><div></div><br /><div>NYSE - 1760 net green;</div><br /><div>NDX - 73/25;</div><br /><div>SPX 415/80;</div><br /><div>RUT 1370/415</div><br /><div></div><br /><div>VIX down 1% at 21;</div><br /><div></div><br /><div>Gold down $7 at 1353;</div><br /><div></div><br /><div>Crude up almost $2 at $83.25.</div><br /><div></div><br /><div>Equity winners- APOL WYNN PCAR INTC NWSA BHI RTN OXY GILD EMC NSC MSFT;</div><br /><div></div><br /><div>Equity losers- AVP AMZN TXN WFC ABT USB VRSN FSLR ADSK SPLS FLIR YHOO;</div><br /><div></div><br /><div>RSI 2 - levels above 90 on most major indexes;</div><br /><div></div><br /><div>Still expecting a tag of the SPXM 1200 level - and maybe a pullback from there later in the week as Bernancke and others hit the front page- For today buying the pullbacks probably the best strategy.</div><br /><div></div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com6tag:blogger.com,1999:blog-22604239.post-82470359032329474602010-10-12T10:39:00.002-04:002010-10-12T10:51:03.984-04:00BACK TO IT<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TLR1tW2DjpI/AAAAAAAAFJs/5_yKsqZu78E/s1600/spx+1012.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5527172064777309842" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TLR1tW2DjpI/AAAAAAAAFJs/5_yKsqZu78E/s320/spx+1012.png" /></a><br /><div>Equities opened up lower but have made a nice comeback led by the NAZ/NDX - SPX -4.8, NAZ -5 and DJIA -55- the DJIA has been leading of late but not today.</div><br /><div></div><br /><div>Markets in a nice uptrend as witnessed by the simple chart above - and above all significant moving averages.</div><br /><div></div><br /><div>Strongest sectors- gaming, ags, real estate, bonds, semis, reits and banks while metals, energy, emerging markets, trannies and defense lags.</div><br /><div></div><br /><div>Internals:</div><br /><div></div><br /><div>NYSE- 1100 net losers;</div><br /><div>NDX- 35/64;</div><br /><div>SPX 140/350;</div><br /><div>RUT- 560/1200;</div><br /><div></div><br /><div>TRIN- .8;</div><br /><div></div><br /><div>VIX 19.5 and up about 3%;</div><br /><div></div><br /><div>Ten year bond- up a hair with rates down at 2.378%;</div><br /><div></div><br /><div>Gold down $6 at 1349 while silver is down 13 cents at 23.18;</div><br /><div></div><br /><div>Winners- SBUX CTXS QGEN WYNN CHKP LRCX LLTC AVP AXP GE AA BAC QCOM MS;</div><br /><div></div><br /><div>Losers- VZ SLB NSC OXHY FDX FAST EXPE ERTS URBN MICC JOYG BHP CNQ DIS WMT;<br /></div><br /><div>Markets have bounced since the typing began with the NAZ going green and the SPX down less than 2 points- expecting the dippers to buy and a nice rally into the end of year with dips being quickly bought - </div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-22156028512435026162010-09-27T12:45:00.003-04:002010-09-27T12:53:34.580-04:00AFTERNOON SLOP<a href="http://1.bp.blogspot.com/_2Ueh9lrrRzU/TKDL_hiUesI/AAAAAAAAFJk/bkJ3Zr1FczA/s1600/SPX0927.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5521637435350743746" border="0" alt="" src="http://1.bp.blogspot.com/_2Ueh9lrrRzU/TKDL_hiUesI/AAAAAAAAFJk/bkJ3Zr1FczA/s320/SPX0927.png" /></a><br /><div>Sloppy day for the equity markets as the SPX is off about 4, NAZ -8.5 and the DJIA -22 at about 12.45 eastern time.</div><br /><div></div><br /><div>Strongest sectors- gaming, bonds, trannies and emerging market bonds- laggards- nat gas, reits, real estate, defense, banks and biotech.</div><br /><div></div><br /><div>NYSE internals- 1235/1720;</div><br /><div>SPX 150/350;</div><br /><div>NDX 22/78;</div><br /><div>RUT 515/1310;</div><br /><div></div><br /><div>VIX- higher by 4% at about 22.6 and about 2% above the SMA 10;</div><br /><div></div><br /><div>Gold- unchanged near 1299;</div><br /><div></div><br /><div>10 year bond - 2.52% with the TLT up about 1.6%;</div><br /><div></div><br /><div>A pretty ho hum day as the market consolidates from the big ramp on Friday- looking for a move higher later in the week - seems like folks will want to to goose in from of month/quarter end- </div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com6tag:blogger.com,1999:blog-22604239.post-84657266308533805732010-09-24T11:26:00.003-04:002010-09-24T11:39:43.083-04:00THE TEPPER<a href="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TJzGGZse3EI/AAAAAAAAFJc/ZCyt96pm-_g/s1600/tepper.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 320px; FLOAT: left; HEIGHT: 224px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5520505056528358466" border="0" alt="" src="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TJzGGZse3EI/AAAAAAAAFJc/ZCyt96pm-_g/s320/tepper.jpg" /></a><br /><div>Animal spirits out this morning as <a href="http://www.zerohedge.com/article/david-tepper-balls-wall-long-unlevered-fed"><strong><em><span style="color:#000000;">David Tepper</span></em></strong></a> - pumps up the market with his theory - economy strengthens - equities go up - economy weakens and FED does QE - equities go up- so his declaration of no risk to owning equities and another - tidbit from him - if the SPX goes to 1000- I will be 100% in equities - OK - he has a great record so I understand the ramp.</div><br /><div></div><br /><div>At 11.30 Eastern time- SPX +21 @1146 - probably finds lots of sellers at if/when 1150- NAZ +44 @2371 and the DJIA +180 @10840.</div><br /><div></div><br /><div>Strongest sectors- gaming, semis, oil service, homies, internets and brokers while nat gas, bonds, metals, junk and ags lag.</div><br /><div></div><br /><div>NYSE- 2070 net winners;</div><br /><div>NDX 97/3;</div><br /><div>SPX 490/10</div><br /><div>RUT 1725/125;</div><br /><div></div><br /><div>VIX- down 8.5% at 21.8 and a bit below the SMA 10;</div><br /><div></div><br /><div>Gold - up $3 at 1297;</div><br /><div></div><br /><div>Silver +1.2% at 21.4;</div><br /><div></div><br /><div>10 year Bond - rates flying higher at a whole 2.617%</div><br /><div></div><br /><div>RSI 2 levels as follows:</div><br /><div></div><br /><div>SPX 77;</div><br /><div>NAZ 85;</div><br /><div>DJIA 81;</div><br /><div>RUT 70;</div><br /><div></div><br /><div>Pretty interesting that with this ramp this morning we still aren't near way over bought levels on major indexes - also expecting a ramp later in the day with a close at/near the highs with SPX 1150 well within sights.</div><div> </div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com5tag:blogger.com,1999:blog-22604239.post-22052837081303690882010-09-14T12:37:00.002-04:002010-09-14T12:59:42.268-04:00MARKET TIDBITS<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TI-p7Oih8XI/AAAAAAAAFJU/9XHjVf04m-M/s1600/gld.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5516814903532450162" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TI-p7Oih8XI/AAAAAAAAFJU/9XHjVf04m-M/s320/gld.png" /></a><br /><div>Equities are trading higher along with bonds gold and the EURO- interesting day as the risk trade looks to be on -</div><br /><div></div><br /><div>The SPX is trading about 5 points below the magic 1130 level which everyone is looking at as the top of the range in this range bound market. EWA/EWC out performing and up about 1% for the day.</div><br /><div></div><br /><div>Strong sectors- metals, retail, semis, drugs and tech while nat gas, banks, brokers, homies and gaming lags.</div><br /><div></div><br /><div>VIX- flat near the 21 level;</div><br /><div></div><br /><div>Gold has broken out to $1,275 and is at all time highs;</div><br /><div></div><br /><div>Ten year rate moving down and yielding a big 2.68%- TLT +.6%;</div><br /><div></div><br /><div>RSI 2 levels at/near 97 on most major indexes - so with the over bought levels and the top of the range in the here and now -and with financials and energy lagging - probably time to take stuff off or sell some calls / buy some puts - </div><br /><div></div><div> </div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com2tag:blogger.com,1999:blog-22604239.post-56035769500911037352010-09-13T16:43:00.002-04:002010-09-13T16:53:29.735-04:00THE CLOSE<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TI6PMf0ZTAI/AAAAAAAAFJM/Ly6vfNNPB-Y/s1600/spx913.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5516504038437899266" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TI6PMf0ZTAI/AAAAAAAAFJM/Ly6vfNNPB-Y/s320/spx913.png" /></a><br /><div>Equities finished the day near the highs with the SPX +12 at 1122 and the NAZ +43 at 2286.</div><br /><div></div><br /><div>Some good news late in the day as MSFT rose on the heels of news of a debt issuance and a stock buyback or a dividend increase- the stocks was +5.74% on the day and was strong out of the gate.</div><br /><div></div><br /><div>NDX with 92/8 on the internals;</div><br /><div>SPX 426/73;</div><br /><div>RUT 1648/217;</div><br /><div></div><br /><div>NYSE 1414 net winners;</div><br /><div></div><br /><div>VIX closed at 21.21 and about 10% below the SMA 10;</div><br /><div></div><br /><div>RSI 2 levels on most major indexes way overbought at 95+;</div><br /><div></div><br /><div>Interesting news on the bond front as rates on the 10 year dipped to 2.741% and the TLT was higher by .66% at 103.</div><br /><div>Bottom line equities way overbought but have now moved above all the significant moving averages - so looking for a little pull back but also looking for it to be a buying opportunity. Of course the trading range looks to still be 1040/1130- and we are now testing the upper end of that range- double dip anyone?</div><br /><div></div><br /><div></div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com4tag:blogger.com,1999:blog-22604239.post-68770177053217702172010-09-10T10:06:00.004-04:002010-09-10T10:14:21.441-04:00MORNING STATS<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TIo9LUTFUTI/AAAAAAAAFJE/IaiKQ7jvUl0/s1600/Quick_Draw_McGraw_1_by_KennShinabery212.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 300px; FLOAT: left; HEIGHT: 274px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5515287958305198386" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TIo9LUTFUTI/AAAAAAAAFJE/IaiKQ7jvUl0/s320/Quick_Draw_McGraw_1_by_KennShinabery212.jpg" /></a><br /><div>Equity markets are a tad higher this morning with the SPX +3 and the NAZ +2.5.</div><br /><div></div><br /><div>Strongest sectors- energy, gaming, retail, biotech, defense and small caps while semis, bonds, tech and brokers lag.</div><br /><div></div><br /><div>NYSE- 970 net winners;</div><br /><div>NAZ- 500 net winners;</div><br /><div></div><br /><div>SPX 350/140;</div><br /><div>NDX 63/36;</div><br /><div>RUT 1240/420;</div><br /><div></div><br /><div>TRIN .84;</div><br /><div></div><br /><div>10 year bond - 2.797%;</div><br /><div></div><br /><div>Gold - up $2 at 1247 while silver is almost $20;</div><br /><div></div><br /><div>The SPX is trading above the SMA 50 and 100 and approaching the SMA 200 at about 1115- not the over bought RSI readings on most major equity indexes - at /near 85;</div><br /><div></div><br /><div>Looking for a choppy day and may add to some energy holdings - COP CVX XLE - </div><br /><div></div><br /><div></div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com2tag:blogger.com,1999:blog-22604239.post-62766400035437285222010-08-23T12:02:00.003-04:002010-08-23T12:15:27.136-04:00THE SLOP<a href="http://4.bp.blogspot.com/_2Ueh9lrrRzU/THKelnIVpTI/AAAAAAAAFI0/Ozu6Wt_AVts/s1600/goat.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 320px; FLOAT: left; HEIGHT: 214px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5508639663223842098" border="0" alt="" src="http://4.bp.blogspot.com/_2Ueh9lrrRzU/THKelnIVpTI/AAAAAAAAFI0/Ozu6Wt_AVts/s320/goat.jpg" /></a><br /><div>At noon equities are near the flat line with the exception of the NAZ/NDX which are down about .5% -<br /></div><br /><div>Strongest sectors- oil service, drugs, consumers, energy, banks and real estate while gaming, semis, tech, metals, homies and small caps lag.</div><br /><div></div><br /><div>NYSE- 250 net losers;</div><br /><div>NAZ- 750 net losers;</div><br /><div>SPX- 213/280;<br />NDX - 23/75;</div><br /><div></div><br /><div>TRIN-.97;</div><br /><div></div><br /><div>VIX - 25.4 flat on the day and trading near the SMA 10;</div><br /><div></div><br /><div>GOLD- down $3 at 1225;</div><br /><div></div><br /><div>10 year Note- rate up a hair at 2.614%;</div><br /><div></div><br /><div>The <a href="http://www.businessinsider.com/baltic-dry-index-23-august-2010?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29&utm_content=Bloglines"><strong><em><span style="color:#000000;">Baltic Dry</span></em></strong></a> index may be hinting at something;</div><br /><div></div><br /><div><a href="http://www.ritholtz.com/blog/2010/08/housing-no-longer-a-sure-fire-wealth-builder/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29&utm_content=Bloglines"><strong><em><span style="color:#000000;">Barry</span></em></strong></a> on housing;</div><br /><div></div><br /><div></div><br /><div>Equities were strong at the open with the DJIA up by about 80 points but quickly sold off as tech led lower- No clue for any particular reason but it just did-</div><br /><div></div><br /><div>Looking for a choppy market for the balance of the day with a little bias to the upside- and a little interesting how <a href="http://www.bloomberg.com/"><strong><em><span style="color:#000000;">European </span></em></strong></a>markets look to be closing to the upside;</div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com3tag:blogger.com,1999:blog-22604239.post-72145104166701928322010-08-19T08:04:00.003-04:002010-08-19T08:31:59.511-04:00PRE MARKET STUFF<a href="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TG0hWf6z_XI/AAAAAAAAFIs/fybmeRK5cWg/s1600/spx819.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5507094589752999282" border="0" alt="" src="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TG0hWf6z_XI/AAAAAAAAFIs/fybmeRK5cWg/s320/spx819.png" /></a> Initial claims come in at 500k which is rapidly taking down the futures which were moving up nicely and near the fair value area-<br /><br /><div>The SPX has clearly run into some issues getting above the BIG 1100 number which is also the area of the EMA 20- however, after knocking on the door twice- it would not surprise me to see the third time be a charm.</div><br /><div>RSI 2 levels are near 80 on most major indexes while the VIX is near the SMA 10 at 24.6.</div><br /><div>Gold trading flat at $1,232 while crude is up a bit at $76.</div><br /><div>The yield on the ten year note refuses to move up and is at about 2.641- </div><div> </div><div>Oh and big M+A premium as INTC gets MFE for a 65% premium over yesterday's close- and SYMC also ripping higher on the news.</div><br /><div></div><a href="http://www.bespokeinvest.com/thinkbig/2010/8/17/strategists-sour-some-more.html"><strong><em><span style="color:#000000;">BESPOKE </span></em></strong></a>- on the souring strategists;<br /><br />Buffet and Soros <a href="http://www.tradinggoddess.com/2010/08/what-two-stocks-do-warren-buffett-and.html"><strong><em><span style="color:#000000;">agreeing;</span></em></strong></a><br /><br />Myth of the <a href="http://www.businessinsider.com/why-the-bond-bubble-is-a-total-myth-2010-8"><strong><em><span style="color:#000000;">Bond Bubble</span></em></strong></a>;<br /><br /><a href="http://www.newser.com/story/98432/sarah-palin-to-dr-laura-dont-retreat-reload.html"><strong><em><span style="color:#000000;">Dr. Sarah</span></em></strong></a> defends the racist;DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-10471522720674836872010-08-11T16:28:00.004-04:002010-08-11T16:40:14.087-04:00THE CLOSE<a href="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TGMKf78FCAI/AAAAAAAAFIk/UhbdWQ10TAQ/s1600/mmp.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5504254713358780418" border="0" alt="" src="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TGMKf78FCAI/AAAAAAAAFIk/UhbdWQ10TAQ/s320/mmp.png" /></a><br /><div>Quite the day for equities as the markets opened lower and drifted down all day with hardly a bounce anywhere a long the way.</div><br /><div></div><br /><div>SPX -31.6, NAZ -68.6 and the DJIA -265.</div><br /><div></div><br /><div>Strongest of the sectors bonds, retail, metals, consumers and reits while gaming, banks, trannies, semis and small caps lagged.</div><br /><div></div><br /><div>NYSE- 400/2580;</div><br /><div>NAZ - 303/2269;</div><br /><div>SPX 20/450;</div><br /><div>NDX 6/90;</div><br /><div>RUT 75/1675;</div><br /><div></div><br /><div>RSI 2 levels on Major indexes at/near 5- pretty much as low as they go unless you want to talk 2008/2009;</div><br /><div></div><br /><div>VIX - up 13% at 25.4 and about 11% above the SMA 10;</div><br /><div></div><br /><div>Gold down 5 at $1,200.</div><br /><div></div><br /><div>Oil - down 2.7 at 77.5;</div><br /><div></div><br /><div>TEN year Note- 2.685 % - and way over bought down here;</div><br /><div></div><br /><div>The SPX closed a hair above the SMA 50 - and unless something comes to the rescue tomorrow it could get ugly early- although thinking here we could dip down in the morning and the rally - waiting for tomorrow to decide on that strategy- </div><br /><div></div><br /><div></div><br /><div>I did dip in and buy some MMP today - and will look to add nice growth nice dividend - </div><br /><div></div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-88689525545955452102010-08-11T08:15:00.002-04:002010-08-11T08:49:00.581-04:00MINDING THE GAP<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TGKcJOrOK1I/AAAAAAAAFIc/KmMu_vHCnv8/s1600/spx811.bmp"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5504133376972303186" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TGKcJOrOK1I/AAAAAAAAFIc/KmMu_vHCnv8/s320/spx811.bmp" /></a><br /><div>Equity futures way down as folks re think the FED announcement from yesterday- ES -17.5, NQ-29 and YM -141.</div><br /><div></div><br /><div>In addition, major indexes will likely fall under their longer term moving averages as the SPX probably opens near 1107- down about 14 from yesterday's close.The SMA 50 still lends some support in the 1088 area.</div><br /><div></div><br /><div>Overseas markets down about as much s our futures with CAC 40 - 1.75%, FTSE -1.50%, and DAX -1.71%.</div><br /><div></div><br /><div>RSI 2 levels on the ES/NQ futures hovering near the 8 level.</div><br /><div></div><br /><div>Gold trading near 1208 and the Ten year rate lower again at 2.72%.</div><br /><div></div><br /><div>I expect the dip to get bought fairly quickly - but a gap fill - probably not.</div><br /><div></div><br /><div></div><br /><div></div><br /><div></div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com2tag:blogger.com,1999:blog-22604239.post-30255994697148864462010-08-09T12:59:00.003-04:002010-08-09T13:09:54.425-04:00AFTERNOON LOOK<a href="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TGA2S6bg3KI/AAAAAAAAFIU/k3xctwGQiUA/s1600/V.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5503458443196947618" border="0" alt="" src="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TGA2S6bg3KI/AAAAAAAAFIU/k3xctwGQiUA/s320/V.png" /></a><br /><div>Boring day in the equity markets today sans the action in HPQ and V - the SPX +3.7, NAZ +10.65 and the DJIA +31.</div><br /><div></div><br /><div>Strongest sectors- homies, retail, trannies, reits and small caps while nat gas, metals, oil service and biotech lags.</div><br /><div></div><br /><div>NYSE- 1130 net winners;</div><br /><div>NAZ- 560 net winners;</div><br /><div>SPX- 366/130;</div><br /><div>NDX 66/30;</div><br /><div>RUT- 1280/570;</div><br /><div></div><br /><div>VIX higher by 2.5% at 22.25;</div><br /><div></div><br /><div>TRIN- 1.17;</div><br /><div></div><br /><div>Up volume almost double the down on the NYSE;</div><br /><div></div><br /><div>Gold- down $5 near the $1200 number;</div><br /><div></div><br /><div>Ten year rate down a hair at 2.82%;</div><br /><div></div><br /><div>Market internals stronger than the indexes so looking for a pop higher later in the day- anticipating buying some SPY/QQQQ - although probably gonna stay with the Q's;</div><br /><div></div><br /><div>Nice article in Barrons pumping up V today and sold my HPQ that i bought in the AH market on Friday.</div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-42312776207891541862010-08-06T16:30:00.004-04:002010-08-06T16:38:31.595-04:00THE COME BACK<a href="http://1.bp.blogspot.com/_2Ueh9lrrRzU/TFxyqy0X6bI/AAAAAAAAFIM/ljw5MMcsjug/s1600/kft.png"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 320px; FLOAT: left; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5502398924261419442" border="0" alt="" src="http://1.bp.blogspot.com/_2Ueh9lrrRzU/TFxyqy0X6bI/AAAAAAAAFIM/ljw5MMcsjug/s320/kft.png" /></a><br /><div>Apparently jobs number taking a back seat to a risk reward trade- 10 year at 2.824% and lots of high quality blue chip companies with higher dividend rates and some growth to boot- So what is in this fish's portfolio:</div><br /><div></div><br /><div>ABT 3.5%;</div><br /><div>BMY 4.85%;</div><br /><div>CLX 3.38%;</div><br /><div>COP 3.9%;</div><br /><div>HNZ 3.97%;</div><br /><div>JNJ 3.6%;</div><br /><div>K 3%;</div><br /><div>KFT 3.8%;</div><br /><div>LINE 8%;</div><br /><div>MO 6.2%;</div><br /><div>PEP 2.9%;</div><br /><div>RAI 6.2%;</div><br /><div>UPS 2.8%</div><br /><div>VZ 6.4%;</div><br /><div></div><br /><div>Just thinking that the trade for the next 3/5 years is going to be own these type of stocks-and of course to day trade the indexes.</div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-46869637012623855012010-08-06T11:39:00.003-04:002010-08-06T11:51:29.135-04:00QUICK FLIP<a href="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TFwvaEhhDfI/AAAAAAAAFIE/eax90SphTFY/s1600/MGM.png"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 320px; FLOAT: left; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5502324969677327858" border="0" alt="" src="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TFwvaEhhDfI/AAAAAAAAFIE/eax90SphTFY/s320/MGM.png" /></a><br /><div>Equity futures turned lower on the poor jobs numbers and rallied back after the open only to tank again and hit new lows- as I type SPX -14, NAZ -28 and the DJIA -121.</div><br /><div></div><br /><div>Strongest sectors- metals, bonds, gaming, drugs and homies while banks, oil service, small caps and trannies lag.</div><br /><div></div><br /><div>NYSE-1375 net losers;</div><br /><div>NAZ- 1300 net losers;</div><br /><div>SPX - 40/460;</div><br /><div>NDX- 13/87;</div><br /><div></div><br /><div>TRIN - 1.71;</div><br /><div></div><br /><div>VIX- 23.36 and higher by 5.7% -hardly a panic;</div><br /><div></div><br /><div>Gold $1209 and higher by about $12;</div><br /><div></div><br /><div>Crude- $81.2 and down about 80 cents;</div><br /><div></div><br /><div>WINNERS- KFT MA FCX WCRX VOD FWLT QGEN PCLN MXIM NVDA ABT;</div><br /><div></div><br /><div>LOSERS- CMCSA USB RF BHI EMC NSC ADSK ATVI NIHD ERTS VMED NTAP SNDK;</div><br /><div></div><br /><div>RSI 2 readings as follows:</div><br /><div></div><br /><div>SPX 17</div><br /><div>NDX 21</div><br /><div>RUT 14</div><br /><div></div><br /><div>Pretty ugly day but I think the numbers say to buy for a flip into next week - Earnings numbers continue to be good - so as long as there are no jobs numbers equities probably go higher.</div><br /><div></div><br /><div>I picked up some MGM and am looking to add to the position. </div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-83592622186772131392010-08-02T07:35:00.003-04:002010-08-02T08:23:31.834-04:00MOVING UP AGAIN<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TFa4sqjs9iI/AAAAAAAAFH8/Irm4XRCVlmM/s1600/STOCKMAN.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 206px; FLOAT: left; HEIGHT: 320px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5500787072357430818" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TFa4sqjs9iI/AAAAAAAAFH8/Irm4XRCVlmM/s320/STOCKMAN.jpg" /></a><br /><div>Equity futures are way higher this morning with ES +13.5, NQ +21 and YM +110.</div><br /><div></div><br /><div>The SMA 200 looks to get tagged at the open as it sits at about 1115 - which is near where we should open.</div><br /><div></div><br /><div>And overseas in Europe the FTSE/CAC and DAX are each up about 2% so look for the equity markets to move up and continue the move to catch up with those 2% numbers. </div><br /><div></div><br /><div>Gold is down a bit at $1,180 and crude up a bit at/near $80.</div><br /><div></div><br /><div>The EURO is back to 1.30 while the dollar moves lower at 81.5.</div><br /><div></div><br /><div>And Dougie Kass shorting the SPY's here - I think a bit too early for that.</div><br /><div></div><br /><div>Some good links this morning:</div><br /><div></div><br /><div>David Stockman (you remember him) on how the GOP <a href="http://www.ritholtz.com/blog/2010/08/gop-destroyed-the-u-s-economy/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29&utm_content=Bloglines"><strong><em><span style="color:#000000;">impacted</span></em></strong></a> the economy and the <a href="http://www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1"><strong><em><span style="color:#000000;">NYTIMES</span></em></strong> </a>article;</div><br /><div></div><br /><div><a href="http://www.businessinsider.com/the-ugly-truth-about-unemployment-2010-8"><strong><em><span style="color:#000000;">Fernando </span></em></strong></a>on the truth about American unemployment;</div><br /><div></div><br /><div><a href="http://www.ritholtz.com/blog/"><strong><em><span style="color:#000000;">Greenspan</span></em></strong></a> on MTP talking the tax cuts;</div><br /><div></div><br /><div>DB and 6 reasons to feel <a href="http://www.businessinsider.com/deutsche-bank-heres-6-reasons-to-feel-bullish-about-the-economy-2010-8?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29&utm_content=Bloglines"><strong><em><span style="color:#000000;">bullish</span></em></strong></a> about the economy;</div><br /><div></div><br /><div><a href="http://www.bespokeinvest.com/thinkbig/2010/7/30/july-asset-class-performance.html"><strong><em><span style="color:#000000;">BESPOKE</span></em></strong></a> and JULY asset class performance;</div><br /><div></div><br /><div>And <a href="http://www.newser.com/story/97011/palin-writes-tax-figure-on-hand-to-avoid-looking-stupid.html"><strong><em><span style="color:#000000;">Sarah</span></em></strong></a> back looking for help;</div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-54181015875135039712010-07-20T16:14:00.002-04:002010-07-20T16:25:28.637-04:00LOWER HIGHS CONTINUING<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TEYGEjpQIwI/AAAAAAAAFH0/vQEWAiGYYIw/s1600/spx720.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5496087070609777410" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TEYGEjpQIwI/AAAAAAAAFH0/vQEWAiGYYIw/s320/spx720.png" /></a><br /><div>Equities closed the day higher after opening way down and sinking near the open- SPX +12, NAZ +24 and the DJIA +75.</div><br /><div></div><br /><div>Strongest sectors included gaming, homies, oil service, emerging markets and metals while semis, drugs, banks and brokers lagged.</div><br /><div></div><br /><div>NYSE- 1860 net winners;</div><br /><div>NAZ- 530 net winners;</div><br /><div>NDX- 67/31;</div><br /><div>SPX 430/67;</div><br /><div>RUT- 1375/512;</div><br /><div></div><br /><div>Gold- higher by $10 at 1192;</div><br /><div>Crude- up 90 cents at $77;</div><br /><div></div><br /><div>Feels like here we go again as the SPX makes another run at the SMA 50 which is at about 1088- and I suspect more selling as that has been the money trade- look at the chart - its lower highs and lower lows and that area looks like as good a place as there is to sell-</div><br /><div></div><br /><div>VIX closed down about 8% but hardly in over sold area while RSI 2 levels on major indexes also up but hardly over done near the 70 level-</div><br /><div></div><br /><div>And the 10 year note refuses to move higher as it closed at 2.93%- fear of losing money</div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com5tag:blogger.com,1999:blog-22604239.post-25383945435158801092010-07-19T11:09:00.003-04:002010-07-19T11:20:06.540-04:00MORNING BIGHT<a href="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TERtCYC60fI/AAAAAAAAFHs/t18L5ZfPlKA/s1600/spx419.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5495637332880708082" border="0" alt="" src="http://2.bp.blogspot.com/_2Ueh9lrrRzU/TERtCYC60fI/AAAAAAAAFHs/t18L5ZfPlKA/s320/spx419.png" /></a><br /><div>Equities started the day higher but qucikly sold off as AAPL turned ugly in a hurry- As I type NAZ +2, SPX +.5 and the DJIA +11.</div><br /><div></div><br /><div>Strongest sectors include energy service, semis, emerging markets, tech and drugs while gaming, metals, banks and homies lag.</div><br /><div></div><br /><div>NYSE- 460 net losers;</div><br /><div>NAZ- 550 net losers;</div><br /><div>SPX - slightly better than flat internals;</div><br /><div>NDX- 76/24;</div><br /><div></div><br /><div>Gold down about $13 at $1180;</div><br /><div></div><br /><div>10 Year note- 2.95%;</div><br /><div></div><br /><div>Big winners- APOL NIHD GILD NVDA QCOM HAL SLB BHI CMCSA AMGN;</div><br /><div></div><br /><div>Big losers- AAPL BAC COF JPM AXP SHLD BIDU SNDK WYNN HSIC WCRX PDCO;</div><br /><div></div><br /><div>Watching AAPL and GS closely and if they turn I suspect the market rallies nicely- Internals good on SPX and NDX - and looking to add to QQQQ near these levels - for a quick flip as the environment remains bearish - just check the sell areas near the 200 and 50 SMA's in recent days- and of course the lower highs and lower lows on the charts - </div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-84158263953558868662010-07-02T10:46:00.003-04:002010-07-02T10:58:05.574-04:00THE SLOP<a href="http://1.bp.blogspot.com/_2Ueh9lrrRzU/TC3-aTB4WTI/AAAAAAAAFHk/mO7ffEgTiHI/s1600/goat.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 320px; FLOAT: left; HEIGHT: 214px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5489323248572717362" border="0" alt="" src="http://1.bp.blogspot.com/_2Ueh9lrrRzU/TC3-aTB4WTI/AAAAAAAAFHk/mO7ffEgTiHI/s320/goat.jpg" /></a><br /><div>Equities are trading near the flat line with oil service, biotech, metals, junk and emerging markets leading while gaming, reits, homies and trannies lagging.</div><br /><div></div><br /><div>NYSE internals flat while NDX/SPX a little to the red;</div><br /><div></div><br /><div>Gold higher and over $1,200;</div><br /><div></div><br /><div>10 year Treas note - rate back up to 2.97%;</div><br /><div></div><br /><div>The much discussed DEATH CROSS just happened as the SMA 50 is now under the SMA 200- I think more importantly the support and resistance areas:</div><br /><div></div><br /><div>SPX 1010 area is the level where we got a nice bounce yesterday and I suspect any time we approach that level we will bounce- of course resistance at the old support area of 1040-</div><br /><div></div><br /><div>Kudos to <a href="http://www.cnbc.com/id/38023788/"><strong><em><span style="color:#000000;">Greg Valliere</span></em></strong></a>- for not towing the GOP line and calling them on the carpet for not extending the unemployment benefits - bottom line it hurts the economy and puts more folks into poverty.</div><br /><div></div><br /><div>Its very unfortunate - but politics has turned into I just want my party to win no matter what the ramifications-</div><br /><div></div><br /><div></div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com3tag:blogger.com,1999:blog-22604239.post-63680723793848241742010-07-01T08:22:00.004-04:002010-07-01T08:35:44.174-04:00THE FIRST READ<a href="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TCyLYH_oToI/AAAAAAAAFHc/WX_UQQ5hGpo/s1600/spx630.png"><img style="TEXT-ALIGN: center; MARGIN: 0px auto 10px; WIDTH: 320px; DISPLAY: block; HEIGHT: 251px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5488915292436844162" border="0" alt="" src="http://3.bp.blogspot.com/_2Ueh9lrrRzU/TCyLYH_oToI/AAAAAAAAFHc/WX_UQQ5hGpo/s320/spx630.png" /></a><br /><div>Markets have gotten trashed the past few weeks as all the news of late has been bad. The SPX is down more than 7.5% for the year and about 12% in the last three months.</div><br /><div></div><br /><div>In addition with the SMA 200 @ 1,112 and the SMA 50 @ 1,119 the Death Cross of the 50 going under the 200 is about to happen - probably some time next week unless something really big happens soon.</div><br /><div></div><br /><div>Traders will continue to short rallies and equities will have a tough time making progress to the North.</div><br /><div></div><br /><div>The good news is that equities are stretched to the downside being about 7.5% below the SMA 200 and 8%+ below the SMA 50.</div><br /><div></div><br /><div>And here we go with more bad news as jobless claims are worse than expected and futures head south again with ES -7 and NQ down about 13.</div><br /><div></div>Good news- tomorrow is NFP day and I suspect no matter how bad the number - if today is down to flat - it gets bought.<br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-43676275301878102972010-06-25T08:42:00.003-04:002010-06-25T09:00:37.998-04:00PRE MARKET LOOK<a href="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TCSoYqabzpI/AAAAAAAAFHU/T9YxMziMyZ0/s1600/bill_miller.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 235px; FLOAT: left; HEIGHT: 320px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5486695387699596946" border="0" alt="" src="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TCSoYqabzpI/AAAAAAAAFHU/T9YxMziMyZ0/s320/bill_miller.jpg" /></a><br /><div>Equity futures are trading near the unchanged line before the open as FINREG gets resolved and GDP for the first Q comes in at 2.7% v a 3% estimate.</div><br /><div></div><br /><div>Equity indexes are oversold in light of all the recent bad news and are probably due for some type of bounce back rally today-</div><br /><div></div><br /><div>The 1040/1050 area is still the key area that needs to hold before one concludes that the jig is up.</div><br /><div></div><br /><div>The <a href="http://www.newser.com/story/93775/bankrupt-greece-selling-islands.html"><strong><em><span style="color:#000000;">Greeks</span></em></strong></a>- looking to sell the country so they can stay solvent;</div><br /><div></div><br /><div>If you need a<a href="http://hosted.ap.org/dynamic/stories/U/US_MORTGAGE_RATES?SITE=AZPHG&SECTION=HOME&TEMPLATE=DEFAULT"><strong><em><span style="color:#000000;"> mortgage</span></em></strong> </a>this could be the time to refinance- ;</div><br /><div></div><br /><div><a href="http://www.bespokeinvest.com/thinkbig/2010/6/24/checking-up-on-bill-miller.html"><strong><em><span style="color:#000000;">Bespoke</span></em></strong></a> checking the recent holdings of a former superstar;</div><br /><div></div><br /><div>And the <a href="http://www.bespokeinvest.com/thinkbig/2010/6/22/apple-aapl-is-20-of-the-nasdaq-100.html"><strong><em><span style="color:#000000;">NDX</span></em></strong></a> is quite the index;</div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1tag:blogger.com,1999:blog-22604239.post-66621443178896280382010-06-21T14:06:00.002-04:002010-06-21T14:14:41.253-04:00NOON SWOON<a href="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TB-r88zP1WI/AAAAAAAAFHM/qn9fzwzQ-Zo/s1600/graeme-mcdowell_1662399c.jpg"><img style="MARGIN: 0px 10px 10px 0px; WIDTH: 320px; FLOAT: left; HEIGHT: 200px; CURSOR: hand" id="BLOGGER_PHOTO_ID_5485291934762128738" border="0" alt="" src="http://4.bp.blogspot.com/_2Ueh9lrrRzU/TB-r88zP1WI/AAAAAAAAFHM/qn9fzwzQ-Zo/s320/graeme-mcdowell_1662399c.jpg" /></a><br /><div>Equities gapped up this morning and now look to be filling the gap with the NDX turning red and the SPX up about 2 points as I type-</div><br /><div></div><br /><div>Market internals were opened at the highs with about 100/100 green on the NDX and over 90% green on the SPX - Now less than 50% green on the NDX and about 3/2 green on the SPX - NYSE internals at 640 net green;</div><br /><div></div><br /><div>Gold getting crushed and down about $23 at $1,235;</div><br /><div></div><br /><div>Ten year at 3.241% and up on the day;</div><br /><div></div><br /><div>RSI 2 levels near 95 on most major indexes with the DJIA over stretched the most.</div><br /><div></div><br /><div>VIX stretched to the downside and about 13% under the SMA 10;</div><br /><div></div><br /><div>Looking for another bounce before the day ends - but that SMA 50 on the SPX - looks a little difficult to get past in the short term - 1140 area.</div><br /><div></div><br /><div></div><br /><div></div><br /><div></div>DAVIDhttp://www.blogger.com/profile/02537024735391704197noreply@blogger.com1