Closed







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

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










http://www.kitco.com

Energy futures

Some direction in the US for a change and that's got all the nervous nellies here twitchy. All Ords -0.5% and all sectors red. Healthcare down the most, -1.9% and the least damage is in Property Trusts, -0.1%.

The miners sold off initially but appear to be recovering. Both BHP and RIO started the day down more than a percent but BHP has now lifted to -0.8% and RIO is +0.5%. Golds are still making up their minds but there is tentative gains in Newcrest and Lihir. Newmont yet to follow, -1.4%.

The oils are still seeing gloom and doom, down at this stage.

Loads of red in Asia: Nikkers -2.4%, Sth Korea -2% and Taiwan -0.9%.

I wish Drano, *sigh* love that sixpack..

U.K. Economy Grew 0.6% in 3 Months Through April, NIESR Says

May 12 (Bloomberg) -- The U.K. economy sustained growth of 0.6 percent in the three months through April, the National Institute for Economic and Social Research said.

The pace of expansion was the same as in the first three months of the year and the fourth quarter of 2005, the London- based institute, whose clients include the Bank of England and the U.K. Treasury, said today. The economy grew 0.7 percent in the three months through January, it estimated.

China April Trade Surplus Narrows Less Than Forecast

May 12 (Bloomberg) -- China's trade surplus narrowed less than expected in April as imports rose at the slowest pace in nine months.

The surplus fell to $10.5 billion from $11.2 billion in March, the customs bureau said on its Web site today. That compares with the $7.2 billion median estimate of 21 economists in a Bloomberg survey. Imports increased 15.3 percent, the least since July.

A swelling gap in China, the world's third-largest exporter, has prompted the Group of Seven nations to call for faster gains in the yuan to address lopsided global trade and investment flows. The U.S. Treasury Department said May 10 there's been ``far too little progress'' in making the exchange rate more flexible.

------------

China's Inflation Quickened in April on Food, Fuel

May 12 (Bloomberg) -- China's consumer prices rose at a faster pace in April as food, gasoline and utilities costs increased.

The consumer price index climbed 1.2 percent from a year earlier after rising 0.8 percent in March, the Beijing-based National Bureau of Statistics said in a statement today.

Australian Dollar Rises to 10-Month High as Metals Prices Surge

May 12 (Bloomberg) -- The Australian dollar surged to its highest in 10 months as rising metals prices bolstered the outlook for the country's export earnings.

Record prices for copper, zinc and nickel, with gold at a 26- year high, spurred demand for the Australian dollar. Raw materials account for 60 percent of the nation's exports. The currency is heading for a seventh weekly gain after tax cuts and extra spending in the government's May 9 budget raised speculation the central bank will add to last week's interest-rate increase.

McHugh's Financial Markets Forecast & Analysis

This Week...

We received the 9th Hindenburg Omen since April 7th on Thursday May 11th, 2006.




Is this ANOTHER buy signal

HeloBen's rescue on the way?

Ooh well a bearish day for a change. All Ords only dropped -0.6% but there was reasonable damage done to some of the sectors which all closed down. Healthcare was down the most, -2.6% and the least affected was Property Trusts, -0.2%.

The miners did a churn but no serious selling ensued. The Materials index closed -0.6%.

The oils all closed down on limited volume with the Energy index finishing -0.7%.

Over in Asia, China ran up a massive +4.3% but it was a sea of red elsewhere with Nikkers down the most, -1.5%.

UK/Europe did a plummet into close yesterday and there's no reason to suppose there'll be a rebound unless the US changes direction:







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

doesn't look too bullish at this time of day...spzx in cliff-dive mode...i hate to miss the day action when I'm up half the night working...maybe I'll wake up to a big surprise...closed most of my SPX puts yesterday...FDX puts still open and running smoothly from 119ish

HAIPOOO:

maybe no bounce,
maybe no play,
no chase market either way
today...

worried about XAU puts...could get an EPOCH reversal...

see how Ben rescues this sucker to keep us alive for another decade or so...

Just a few hours to go. Get your bids in now!

Bid on a one-time introductory trial subscription to the Wall Street Examiner Professional Edition at eBay and get a great deal! There's an auction ending today. Now's your chance to get a really great price on an introductory 3-month trial subscription to this indispensible source of information and data you can't get anywhere else! Bid now on today's auction!

Whatamibid? Whatamibid? How about you sir?

BID HERE NOW!

Mark has updated his comments from Thursday. Should be posted momentarily here.

http://www.streetiq.com/dir/CAPITALSTOOL.shtml

Check there first, and if it's not there yet, check here:

http://feeds.feedburner.com/CapitalstoolRadio

In case you missed them, be sure to catch yesterday's podcasts all listed here: http://www.streetiq.com/dir/CAPITALSTOOL.shtml

Yesterday's Liquidity Report was a free ranging discussion/rant with Steve Northwood and me. Be sure to check it out, along with Mark's in case you missed them.

Any takes on EWT being a good idea after a pullback?

GSS getting a bid this morning after yesterdays selloff...

I understand OMNI reported a blowout quarter and gapped up yesterday.....nat gas play...thought that was interesting...

think the click fraud scandal might be bullish for SYMC?
BIDU geting a bid...huge pumping on Crapvision news and Cramer as a better play than NTES..

Doc since ebay auctions started pages load slow
little globe top of web page nerver stops spinning



will leave now so the girlebulls ©bearman can cheerlead

complacency is @ all time highs



T I C T O K

Spoke to someone, he said there is enough of Yellow metal like Brass and copper but seems to be having problem getting hold of Aluminium and material that was supposed to be delivered from the mills in February hasn’t arrived yet.
------------------------------------

I know my views on markets and metal and energy are not compatible with most then again it’s all being right and fully loaded for the ride.

http://www.capitalstool.com/forums/index.php?showtopic=7565

This one? Looks seriously bullish to me..

[attachmentid=63723]

Exactly.

What do i know????

Just about everyone here is, and has been bullish on Metals and Energy for a long long time. Your views are compatible here. However, now that Cramer is also on your side, I'd be worried. Berry berry worried.

Doc, I heard a saying that the crowds arent mostly wrong in a manias course....just wrong at the tops and bottoms....It sounded better than my version....

feedfool, thanks for the chart on the nikme...Im betting that will be the case with JOF and EWJ....the 5 year chart for EWJ looks pretty bullish to me as well on a longer term basis...

We need a Saudi Arabia etf!!
I wonder how Prince Salweed or whatever is doing....

Only reasons they are incompatible are because I am basing it on economic growth. Someone will benefit from inflation while some may face inflationary depression.

I can’t see how the imploding economy can create bull market in industrial commodities or in energy complex.

This year Tech has been a real drag.


If one takes tech out from Spoon and Joke then one will see it has been drag. All the indexes are making all time high. Either Tech goes out or they get uplift and push Joke and Spoon to all time high.

being short SA mkt is like being a 5'9" 120# blond guy in a max security prison. It's not a question of if, just when.

Prince will be fine. He tried to support the mkt at 50% retrace (with his own money, I wonder?)and got run over. Something will happen for him to save face. Thats the time to go all in.

concon 79 vs 86 exp, 87 last

Is it a good idea to short ...

Someone needs to pound a stake through Fannie Mae's heart.

I like ewt around 10.75 if it gets there or around 12.27 or so..

Very bifurcated market. A lot of sectors looked very overextended, while some of the techs are heading towards levels that should produce a strong bounce.

Have been looking for the NDX to fill the Nov gap at 1595-1600 for some time (roughly equates to QQQQ 39.20-39.40). Coincides with the rising trendline from the 7/7 (London terror) and Oct05 lows.

That's less than 3% lower.

And I've been short the IGN (networkers etf) since 36.50, looking for a re-test of the Jan breakout at 31.80-32.50. The low this morning was $32.95, so it's very close.

The key to the networkers is Crisco holding $20ish, which it has today (after an upgrade, no less.)

Remember that Crisco declined throughout 2004 even though the NDX made higher highs, so the networkers could make higher highs in 2006 even if the NDX ultimately makes lower lows.

Interesting juncture. Perhaps we might see tech (and particularly tech infrastructure) catch a bid just a few pct lower, as the supermodel sectors that are overextended get sold off. Rotation?

If these levels bounce the QQQQs and IGN, but the levels subsequently get violated to the downside, it would certainly be a GMTFO moment.

Last time I read it’s between 60% - 75%, depending on the salary.

this natural gas is becoming a gift here or a little further down..

I am bidding 63.10 for a position trade..

Dollar rallies. Others would say: It is friday profit taking by the dollar shorts who made big fat ass profits.

yep, either right here at the 200 weekly SMA or at the uptrendline which is slightly below.


Chart öffnen


Chart öffnen

Anybody know what FDG's filing today was about?

Sure hasn't helped the stock any. I guess we're going back to 30 after all.

TOL becomes #370 on Fortune 500 list of largest companies -- up 107 positions.

Head Ho Robert Toll sez: "Toll Bros. is among 12 publicly traded home building companies that are now members of the 2006 Fortune 500, three others are in the Fortune 1000. This highlights the growth and increased sophistication of our industry. It is a testament, we believe, to the evolution of the largest builders from regional players... to companies with national scope, diversified land portfolios and geographic operations that enable us to manage risk as capably as any other major U.S. industry"

no link possible.

CONsumer sentiment plunges to 7-month low

Current attitudes plunge 13 points, most ever in 28-year history of survey

That's what happens when the Ditech money runs out.

breadth uglier than yesterday

Whoa! What happened to Shorty's PEIX? It was up at least 1.50, now it's down 1.50.

Justice at last?

Here's another tech infrastructure play (Internet Infra Holders etf) that is coming back to test its breakout. IIH is mostly VRSN, BEA, AKAM, REAL, OPWV, INSP. Others in the group (but not in etf) are RHAT, SUNW, IWOV, FILE, DRIV, etc.

IIH consolidated b/w 3.50-4.50 for better part of 2 years (with a brief dip below in summer 2004). Broke out a couple months ago and ran to 5.25 where it got overbought.

Is that the end of the run? Or is this group simply declining back to its breakout level?

yeah, like that boy in elemantary school who had asthma

Blowout capitulation

ES double bottoms from the april swing low...nice bounce off1300.25

U.K. shares broke below the key 6,000-point level on Friday, pressured by declines from commodity-price-sensitive mining and oil companies.

aSS expected and pre-pontificated here laSSt week

Went long UNH yesterday....

So far, so good...

Went long Ford yesterday, so far, so good...

I still maintain the belief that China will be the next stock bubble.

Bought this little automaker yesterday on the spike down.

The usual and normal PigMen Punch through the 50-day.

Let's see if they McQueen it on Monday.