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

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










http://www.kitco.com

Energy futures

A bipolar market today as miners and oils get another hammering, not entirely unexpected of course. For the remainder it's pretty much biz as usual. All Ords -0.4% with most sectors green. IT doing one of its runs, +1.8% and at the red end Energy down the most, -2.8% followed by Materials, -2.5%. Could have been worse..

In the miners, BHP and RIO both down 2.5% but the bluechip golds having a harder time, ranging from -8.2% for Lihir to Newmont -2.9%. Specs are being chucked out as well, most on my screen down around 7%.

The oils in a similar predicament to the miners: Woodside -3.6% and Santos -1.4%. Caltex is managing a rise, +0.6%.

Over in Asia, China still heading up, +0.5% but losses on the others led by Sth Korea, -1.2%.

Well it was on for young and old today, particularly in the resource sector with huge volume on BHP and RIO as bearz and bullz locked claws and horns. All Ords finished the day -0.4%, the same level as the morning post and today was another move in the waterfall scenario. Energy and Materials both finished -2.6% and at the other end IT closed +2.3% followed by Healthcare +1.5%.

BHP and RIO are now back in their trading range of the past month, excluding that little blowoff last week so we'll see what happens from here. Golds were also brought sharply back to support levels.

Oils look like they might have further to drop. Woodside closed down around 3% and Santos 1%. Caltex actually went up, +0.8%.

A big downer in Asia with even China down 3.1%. The others: India -2.7%, Sth Korea,-2.3%, Nikkers -1.9% and so on..

Over to UK/Europe:







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

Ebay weekly

if 30.80 goes....., on the other hand, if it holds then it was a wonderfull buying opportunity


Chart öffnen


Chart öffnen

That's one of the more impressive 3AM boners that I've seen...

"I WILL BE VALIDATED..."

-GWB

Goldminers in europe are down 1 to 7 %
In South Africa 2 to 10 %

If they continue like this the correction will be over by thursday I guess

Nikkei monthly

200 monthly SMA and 50 fibo (log scale) acted as res


Chart öffnen


Chart öffnen

Just SIX hours to go. Get your bids in now!

Want to know what our cycle based stock screens are saying now? What stocks look good to short, which longs should be held? When to buy gold stocks again? Bid on a trial subscription to the WSE PRO!

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 RIGHT NOW!

ze lows are in? Possible.

Looks like we are off to the races this morning.

Wow! NBIX down over 30 bucks! 55%!!!

Very odd, they got approved for the drug in the lighter doses but on the heavier dose the FDA said they need more data.

WASHINGTON (Reuters) - A big rise in energy costs pushed U.S. producer prices up a sharp 0.9 percent last month, but prices outside the volatile food and energy areas rose a slimmer-than-expected 0.1 percent, a government report showed on Tuesday.

The April gain in the overall producer price index, a gauge of prices received by farms, factories and refineries, was the largest since September, the Labor Department said.

NEW YORK (CNNMoney.com) - Housing starts slowed significantly in April, the government reported Friday, as the latest reading of a slowing real estate market came in below with Wall Street expectations.

The Census Bureau reported that housing starts came in at an annual pace of 1.85 million in April, compared with revised March rate of just under 2.0 million. Economists surveyed by Briefing.com had forecast a 1.95 million pace in April.


The housing starts rate was the slowest pace since November 2004, and comes amid a number of signs of a slowdown in the strength of home building and real estate market strength overall.

AAPL hit with a patent infringement suit for iPod. Suit seems to have merit, as AAPL tried to license their technology and when they didn't strike an agreement, they went ahead and made the iPod anyway.

Down 1.55 and sinking like a stone.

Wild action ahead..reminds me RIMM.

Short LEH at 69....Stop at 71, target at 64 (200 dma).

Attention Big Doo Doo

BIOM reports that one of their partners has had initial favorable results with their drug, when used against ovarian cancer.

As you guys may know, ovarian cancer is often not diagnosed until it is at stage 3 or 4, many times much too late for effective treatment. So this is great news on a human scale, as well as for those holding this stock.

GG getting pounded today on the earnings miss last night. $41 to $33.50 in a pretty short period of time.

WTF! did IBM hire greenspan to run there buyback program?

Been dancing around the 200 for weeks now

Our little Biomira !!



Anti-cancer vaccines and immune system anti-cancer treatments are the future.

This company is worth $ 5.00 per share, minimum, right here, right now. They are the future for anti-cancer vaccine R & D and future anti-cancer vaccines.

Feels like it's been there for 200 weeks.

Whoa!!!!!

In 20 years people will look at the current chemotherapy and radiation treatments as brutal and primitive. I hope these novel technologies pan out, whether it's BIOM or some other company. But hopefully it's BIOM.

And wouldn't THAT have been a good use for McGuire's 1.6 BILLION dollar option profit for his "hard" work at UNH -- to use even a small portion of that to fund companies like that? I really can't understand that level of greed.

TOL down another .47 at 27.81.

I hope 30 stays a distant memory.

Anyone buying the miners here? I did a little nibbling yesterday on BGO and AUY. Those bets look good this morning....

Bung

Percentagewise GG is doing almost as badly as AAPL. I wonder whose patent THEY infringed.

AUY bounced on it's weekly uptrend line this morning, but looks to be heading down to retest it. If it holds, you have a good buy, it it doesn't.....

Mentioned last week I was buying putz on the cruisers (CCL and RCL) since their charts looked like poop and with all the tinfoil-hat chatter about tsunamis and meteor-induced tidal waves in late May. Not generally prone to bet on "alien invasion risk", but figured these might be worth a play as insurance. Also these charts mysteriously broke down a few days before 9/11 for some reason.

FWIW, CCL down 10% and RCL down 5% today, ostensibly on CCL reducing full-year guesstimates. Perhaps that's all it is, but timing-wise, sure looks spooky-dooky. Charts now officially busted.

dmm: Any idea on billy miller's performance this year vis a vis the spx? His large postions in the builders must be kind of a drag?

From today's WSJ

Russell Decline Hits Index Fund

By MOHAMMED HADI


With a shakeout in the Russell 2000 small-stock index continuing, options on the exchange-traded fund that tracks the index continue active trading.

Yesterday, the Russell 2000 added a loss of 4.76 points to a streak that has it down nearly 5% in three sessions. This decline has woken the sleeping giant of options on iShares Russell 2000 Index Fund, or IWM.

More than 846,000 puts on the IWM changed hands during the session yesterday, bringing the volume of puts traded in these three sessions to more than 1.9 million contracts.

The volume of the options at the Chicago Board Options Exchange surpassed that of options on the Standard & Poor's 500-stock index, making them the most heavily traded class of options on the CBOE.

RGLD coming into the buy some more price zone.

I don't know. Think he's been buying the builders recently, not back in their glory daze. He generally buys all the way down.

I'd imagine his relative perf suck eggs so far this year, given that his biggest POSitions are AMZN, the HMOs, EK, etc. Actually like the constructive action in his #2 POSition: AES. It's a global utility and energy re-seller. It's his only energy-related play. Bought some at 16.50. Maybe AES saves the day for Billy Miller. But he's got a lot of catching up to do, no doubt.

I imagine this has something to do with the fact that IWM has become an impossible borrow as a short. So options are the only recourse. I found this out first-hand when I tried to short IWM on May 4 and May 5 when Rusty tagged 784. No inventory available for the first time in three years. Pretty good sign that the crooks had cornered the shares for the 50-pt ride down.

Big Doo, from the looks of your logo you're feeling a little happier these days.

DMM: Thanks. I do not know if he has been buying hte builders lately, however as 12/31/05 he or LM owned 5-10% of the outstanding shares on a handful of the large public bubblers.

Wow. One of my short side picks in the WSE PRO Chart of the Day yesterday is cratering. I was worried sick about those selections last night, but that one and a couple of others are looking pretty good.

Still in whipsaw alley though. Can't breathe easy yet.

I feel like my nightly report on the Chart of the Day list is turning into a soap opera. As the Stool Twists In the Wind. The Agony of Dr. Stool.

It's really gut wrenching psycho drama. And I'm the one going psycho.

DMM: One example, RYL

LEGG MASON VALUE TRUST 2,000,000 4.39 $144,260,000 31-Dec-05
CALAMOS GROWTH FUND 1,500,000 3.29 $108,195,000 31-Dec-05
LEGG MASON OPPORTUNITY TRUST FUND 1,400,000 3.07 $100,982,000 31-Dec-05
LEGG MASON SPECIAL INVESTMENT TRUST, INC. 1,100,000 2.41 $79,343,000 31-Dec-05

Shorty's PEIX is cratering.

I could never buy shares in something that sounds like "calamitous"

That had been thinking about calls, but there is an 8 billion repo pool drain today. We're bound to see a spring back by the end of the week, but first the fed needs to drain to support the dollar.

I am in puts for the day due to the drain, but nervous due to the high P-C ratio. The plan is to take them off at the close and watch tomorrow morning.

Moon oppose Mars exact an hour before the open. Likely an impulsive move in either or botrh directions.

Moon oppose Saturn midday Thursday which is a good play to look for a low.

Maybe yesterday's low needs to be tested before any bounce of consequence.

And maybe there isn't going to be a bounce of consequence.

ALWAYS very happy, Drano !!!!



Just couldn't hide my lust for those women of Deal . or ... no Deal !!!



Wowzers !! They are HOT babes !!!!

That's un-american!!!

DMM, It is good to see all that great chart work making you some coin. Congrats and thanks for sharing.

Or his stuff is not down as much as the SP at year's end.

I think that's the one who's a lawyer turned model.

I have to admit that I've started watching that show every once in a while. An amazing study in human greed. People almost always seem to go one time too many, and end up with much less than they could have had.

And it is truly a guessing game, so the only skill is in knowing when the odds tell you to stop.

A brilliant concept for a TV show -- really, my hat's off to them.

Speaking of turning, PEIX turned back up.

I guess I better stop commenting when things look bleak for a stock I'm short.