http://quote.yahoo.com/m2?u

http://money.cnn.com/markets/morning_call/










http://www.kitco.com

Energy futures

Wow...BHP and RIO on the buy list today so up we go. All Ords +1% with Materials leading the way, +2% and Financials are next in line at +1.2%. At the other end Telecom is still struggling, -0.7% and Property Trusts are flat.

BHP and RIO are both into blue sky territory and the golds also looking good. The Energy sector is at a fairly muted +0.6% however the action is bullish so I'm expecting a rise in crude sometime soon.

Mining and oil spec charts are looking especially tasty atm with more traders entering the fray so liquidity is improving rapidly.

Asia is remarkably quiet with minor gains or losses.

Japan's Notes Slide on Concern Central Bank to Increase Rates


May 10 (Bloomberg) -- Japan's government notes fell, pushing five-year yields to their highest on record, amid concern the central bank will raise interest rates as early as next month.

Five-year debt slid for a fourth day as the level of reserves the Bank of Japan makes available to lenders fell this week to the lowest since November 2002 as policy makers prepare to raise interest rates for the first time since 2000. A Nikkei Financial Daily opinion piece yesterday said the BOJ may raise interest rates in June, earlier than economists expected.

A bit of a fadeout in the arvo with All Ords closing off the highs, +0.6%. Materials remained the leader but dropped back a touch, +1.6% and Telecom remained in the rear, -1.5% and a number of sectors dropped into the red by close.

All miners had a very strong day and the oils crept up as the day progressed. Energy closed +0.9%.

A mixed bag over in Asia from China +1.4% to Nikkers -1.4%.

Over to UK/Europe:







http://quote.yahoo.com/m2?u

The investment banker that passed up the chance to fund Steve Jobs and Apple back in the late 70's was asked about it once.

Said he slept like a baby ever since.

Slept for an hour and then cried for an hour.

Know how he feels.

I let go of TIE back in 2004 and congratulated myself at the time for a 3 bagger.




Anyway, take a look at MACD. It basically has NEVER rolled over.

Think this is the type of stock that might be the canary in coal mine for the miners, diggers and anybody else taking stuff out of the ground.

When TIE rolls over-LOB.

EDIT-Didn't mean to mislead-TIE is a Customer of the miners, not a miner itself.

The Time Has Come.

"Let the record show that Shorty called the top the week of May 8th, 2006 with the panic to begin on the day of the sweet sixteenth rate jack May 10, 2006."

"Duly noted!"

"Let the record further show that the preceding night session high print on the Down Jokes Insatiable Avarice fuctures was precisely 11,666."

"Duly noted!"

Gentlemen, don thine craSSh helmets!

Just a few hours to go to get a great deal!

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Doc, you should give someone a free subscription for a month if they can pick a top on HANS! Top has to hold for 30 days....

That could be a while.

I found TIE and PAL at the msn moneycentral site for sectors in early 03....was interested in other metals.....I remember discussing them here....I sold out as well.....same with TUP and JAH found there.....arrghhh!! Sold during the "Great Pullback" of the miners....sold half positions but still got hit hard on remaining positions. Capitulated some for fear of losing large gains I had spent months accumulating.......the best move I have made to date was leaving the others alone.....




Check out the monthly on BAC.....macd first "real" crossover" since 00-01 area.....could be argued a fakeout like last time it barely crossed and turned...but....
Crucial area supports the "big move is emminent".....

Check out that ADX line.....

Looking for clues........Butler in the study stuff...

I have about 160 stocks in a Clearstation portfolio to watch the focus part for news, TA etc.....top 10 performers dominated by miners....they are most likely going to get more volatile imo...

SIL down 6% due to hedging program?

Need one more bout of bad news to crater this thing for the strike 3 buying opp!!

for the detailed rydex ratio look at this site.
I find the rydex chart used many times on this board is misleading. This chart does not show any increase in short activity but rather a liquidation from the long side. AKA distribution. In my opinion this is a far more dangerous sign. Shorts eventually have to cover (provide liquidity) Longs can walk away forever. This scenario goes hand in hand with the divergences on the major indices. By the way the New York composite that has been hitting all time new highs is much different than it was 5 years ago. Look at all the ETF's and closed end funds that have been added since then. Exclude non company issues and I bet it will look like the S&P 500.

http://www.smallinvestors.com/SP500/RydexvsSP500.htm

The only green on my screen is from the real quality:

TOL
GOOG


Gah

Drano, in case you did not see it, Sudaca posted last night that he got a job working over a pension plans portfolio. Heh, heh.

Yes, BP, I saw that. Good for him (and for the pension fund).

I miss having Sudsy here.

Maybe, its just an indicator for me....only good with a combination of others.....its been handy the last few years.....didnt use it 5 years ago...maybe its just been lucky...but I cant ignore it....just like I dont ignore the Bradley etc.....I absolutely dont believe in that stuff but someone with deep pockets seems to...
Check out all these indicators in August 04.....complete with way Dover Sole macds, oscillators etc.....also cycle analysis by Stephen Swanson etc...I cant display charts but find it a very useful tool as well for IT entries...Im going for the same thing here.......Mostly I just love poker type gambling and try to give myself the best odds for success....my strategy is only good with groups of stocks...always losers.....strategies within strategies..

chdsf- COPPER penny stock: been buying from the .25 to .38: closed @.63 yesterday. Have been selling my penny miners at the double but will cross my fingers on this one!

Sold half my position of Chariot Monday.

Article in the NY Times yesterday on The Big Chill in real estate.

They are still sugar coating, and outright lying about it.

http://bigcharts.marketwatch.com/intchart/...=614&mocktick=1

Ah yes, I remember when I owned a freakin' boatload of this stuff...





[attachmentid=63579]

Well if you are living in FL, Doc, then you're on the front lines and things are probably pretty bad. OTOH, here in the SF Bay Area the market is still bubbling. A unit on our street (where we rent) just sold at a new high price for the area after a week on the market. And it was not one of the most desirable units as it has a restricted view. Inventories are still pretty low. Prices are not rising as fast as last year, but there is little sign of decline.

Volume is small, but my boy LSS is up nicely.

On the other hand, looks like FDG really wants to go back to that support at 35. Bleah.

My CUP is now empty....which means it will probably break 5 tomorrow.

How the simplest of reporters can't just slap a:

"On one block in a neighborhood, a home is listing for $300,000....On the next block over, a comparable home is listing at $225,000.


That's 25% folks.


Oh, by the way, the 225k listed home has been on the market for a year now...."



It's like they have this HUGE disconnect (read: lined pockets) about the whole thing....when all you have to do is use yer friggin eyes to see how blatant it is....ESPECIALLY down here...

Looks like the petro report was "good" (bad for energy bulls) judging from the reaction.

No correction yet in the trannies. Quite incredible.

Now the energies have recovered somewhat. Whassup with that report anyway?

And now the energies are sinking again.

Is the first reaction after the report generally the correct direction?

what is the alltime high on the DOW INDUST

GM up 1.27, to around 26.80

Wow. FDG whacked down well below 35, now back up above it. A very violent and sudden move.

Yeah, those Toyota earnings are going to rub off on GM any day now.

Jiddy, where are you located? Thanks

Talk about disconnects...

The top headline on Drudge today: "[Dow] Ready to Smash the Record"

Right beneath it is a story on the latest NYT/CBS poll showing that "Americans have a bleaker view of the country's direction than at any time in more than two decades." 70% of respondents say that country was headed in the wrong direction.

Usually these sorts of poll numbers would have me looking for a stock market bottom nearby. Yet U.S. stock markets are at 4+ year highs, some sectors at all-time highs, most global markets (save Europe) rampaging at all-time highs.

Don't know what to make of it exactly. Either the other shoe is about to drop. Or the financial economy has completely disconnected from Main Street.

I don't think Joe6 is all that concerned with terrorism, Iran, etc. He's still concerned about his wallet. That's what makes this schizo sentiment all the more extraordinary, given the stock boom, RE boom, etc.

Maybe the avg American, despite his home doubling or tripling in value and the Dow back at 2000 levels, has a gut feeling that something isn't right.

Don't know how this plays out, but don't recall ever seeing sentiment this pessimistic with financial assets so bubbly.

Treasure Coast of Florida........

I closed my short GM at a loss, Congratulations to Mark on another great call. Once it is all in the charts.

Absolutely. I've been saying for months that everyone I know is talking uneasily about falling real estate prices, high gas prices, lay-offs of themselves or friends, etc. And these are just typical middle-class professionals.

Media hype can go only so far. In fact some people I know have already commented on the disconnect.

CWD, if misery loves company -- I'm getting killed on my large FDG position too, which I held because of the past history of shanks and recoveries. So far just shanks.

Who needs a 14% dividend, anyway?

Today we focus on the letter "C", since it is the only performer in my port today.



Cars of China.


Cow pies of SassyCatchyouone.



No we cannot do the letter X today, Drano.

I don't think j6p has many finacial assets anymore. The average Merican in flyover has not seen their home go very much at all. Many middle class people I know are getting towards senior citizen age and have very little savings and no pensions.
I told one woman approching retirement age [she is 61 and wants to retire] that a lot of boomers are going to end up living in poverty because of very limited savings. She looked at me and said the government would not allow that to hhappen.

Yes, Speakie, I see that X is for Xcretion, at least as far as XSNX goes.



But at least my boy LSS is up 1.03.

Lots of boomers just won't be retiring. We'll be buying catfood (for ourselves) in bulk at the dollar store, which will be the 10-dollar store.

Have a nice day.

That's FDG on the right. Can it get off the mat?

Wow, there is an article in today's Philadelphia Inquirer that is a "humorous" fake commencement ceremony speech which sounds as if one of us wrote it. Talking about how there will be no social security or health insurance, etc.

Can't link to it but you could easily find it at their dot.com. It's by Tom Ferrick Jr. Very good.

Thanks, I lost some on that, but as DMM and Shorty have pointed out we are approaching some kind of top and I am trying to get 10 to 15 % in a short position when the oilers and miners start down. If I was smart I would close everything that is up so much, but I believe Mr. Sinclair and Mr Pickens are correct in stating that the long term trend in oil and gold is up,and will be for a long time and I am going to hold until the world political situation turns in America"s favor.
What do I put my oilers in, FRNs?
The time for FRNs maybe when the DX is 30 and long term interest rates are at 15% Not a very pleasant thought and GOLD is at 1800 FRNs.
Not near as farfetched as it was a few months ago.

http://www.urbansurvival.com/week.htm
The other thing that fiat currency does is that it sets up a "conveyor belt" for the transfer of wealth. Well, sort of. When you look at the hundreds of thousands of people who have come to the US in the last 20-30 years, you will find that their hard work ethic has allowed them to own grocery stores, apartment houses, and so forth, in many cases with much higher personal income gains (and certainly on a YoY percentage basis) than folks who were born in the USA. Folks from other countries have seen inflation work, know the value of long hours, and about investing in their own futures. A lesson we sometimes overlook.



It's also made the real estate bubble possible.



It's likely to continue, at least for a while, too. The watering down of the dollar is actually a good thing because the alternative to a "Weimar Lite" outcome for the economy is a gut wrenching, spirit destroying deflation. No doubt we will get to that at some point, but not before we have this one last great blow off, as I see it. The dollar is now in a long-term down trend, as I read the charts.

Forgive me Lee, the snippet was probably to long. But this is a must read for the AM.

Gold will go to $3000 or higher, so there!