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

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










http://www.kitco.com

Energy futures

The buyers were waiting right at open today pushing All Ords up +0.4%. All that was red yesterday is green today: Materials, Energy and Telecom on the crest of the wave, all +1.1% and the only down sectors are IT -1.6% and Property Trusts -0.9%.

The miners are all are up, albeit off earlier highs. Still some sellers in the wings it seems.

Oils are similar to the miners, cautiously up.

Asia red-free at this stage. Singers up the most, +0.9%.

Singapore Raises 2006 GDP Forecast to as Much as 7%

May 17 (Bloomberg) -- Singapore's government raised its 2006 economic growth forecast to as much as 7 percent, joining South Korea and Taiwan in predicting faster expansion because of a jump in consumer electronics demand.

The trade ministry's prediction today compares with 6.4 percent growth last year and a Feb. 16 outlook of as much as 6 percent.

China's Factory Output Rises 16.6 Percent in April

May 17 (Bloomberg) -- China's industrial production rose 16.6 percent in April as factories churned out more cars, mobile phones and steel to meet rising demand at home and abroad.

Output climbed to 682 billion yuan ($85 billion) after rising 17.8 percent in March, the Beijing-based National Bureau of Statistics said in a statement today.

Australian Consumer Confidence at 7-Month Low in May

May 17 (Bloomberg) -- Australian consumer confidence dropped to a seven-month low in May as record gasoline prices and higher interest rates outweighed the effect of income tax cuts.

An index measuring confidence fell 6 percent from April to 104.1, according to a survey released today in Melbourne.

What looked like a bounce this am turned into a downmove leaving All Ords flat. The sellers who missed out yesterday dropped their loads, effectively capping any attempt to rise. Now that they're out of the picture the miners and oils might be in with a chance tomorrow.

Materials and Telecom came in leaders, both +0.8% and Energy finished +0.4%. IT was last in line, -2.1%.

In the miners, BHP and RIO went different ways: BHP +0.6% and RIO -0.9%. The golds looked pretty good but gains were relatively minor compared to yesterday's action.

In the oils, Woodside and Santos dipped at close, both -0.3%. Caltex continued yesterday's rise, +1%.

Over in Asia, China did another red one, -0.5% but da bullz running with the rest. India out in front +1.6% followed by Sth Korea and Singers, +1.4%. Nikkers +0.9%.

On to UK/Europe:







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

Another trend which is getting stronger is a stock market in Far East also their currency is getting stronger, double edge sword.

China has gone up too fast best to wait for the correction

Nasty could be a buy after the scam week

Speaking of trends
easy short gains already made on charts below
not covering and going for the crash is very risky here.
Ready to dong favorite screamers for fuel for core portfolio
Odds are way favor here of a bounce
Nail one of these and your set for the year, miss it and your out with small losses...imo...
Im going in big tomorrow
transports- gap filled, 50dma, Dover Sole double buy
NWX-200dma, Dover Sole beautifully
AKS-.618 retracement, Dover Sole
GLG-Dover Sole
QQQ-Dover Sole
hui-Dover Sole--support 323, .618 retracment 310
deleted chart but on m2m

industrials look like they have more downside imo. Ill be targeting these with gains from screamers if successful...
Superjackpot buildup at the riverboats....cant help but gamble

Reentered sold half position

hope its not time for the Mike Matusow famous "All In" blowups

Not exactly sure about ABP but what the heck.....

PAAS- who knows, safer than CDE and PAL blasting

XNG-Dover Sole

check out the relative strength

Dover Sole short term.
looks like macd turning
EP and DYN doing good so far

going for round 3 here

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

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http://news.google.com/news?ie=UTF-8&oe=ut...rch&sa=N&tab=wn
Let’s just check on the economy

Manufacturing jobs going abroad
weak Housing market
West has new speculation Economy like tulip Bubble.
New inflationary depression could be right around the corner.

explain inflationary deflation

Looks like the CPI came in too hot and heavy for some. Futures went for a swim.

Sorry

New inflationary depression

Gold stocks are still consolidating compare to gold.

Looks like closing all the longs and adding 9 shorts to the WSE Pro Chart of the Day picks over the last few days just might pay off after all. If the gap down in the Nas sticks, that completes the breakdown of the massive 6 month top formation that I have been talking about in the WSE Pro. As I wrote last night, today is a pivotal day in the big picture. Should be interesting.

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!

potential massive island top in the nasty

if we gap & go

Lucky that most people don’t eat or use energy otherwise it could hurt their pockets.

Looks like Nasty will gap right below the 200...can they save it again?

Anybody up for a little knife catching in VTSS?

Was at the Toyota dealership for an inspection this morning. There were two people in the waiting room talking about stocks and Cramer. One had an IBD with him. These guys looked like they were Crapvision junkies. One of them worked for Delta and indicated that it's a crummy place to work. The other did consulting.

Looked at the new Toyota Hybird Camry. Great mileage for that size car but is it worth an extra $8K? I don't think so. They do seem to have a nice lineup of cars to compete with the Koreans and GMs of the world now.

Many, including myself, were expecting an opex bounce, and expecting the Market to continue to ignore ominous inflation data.

I would still like to see concrete evidence of wage inflation to completly abandon my deflationist bent. The consumer has sucked up higher prices through credit or taking an extra job or having the kids shovel McBurgers. In the skilled/tech labor area, entry level salaries are going up, as is horizontal moving of seasoned workers between companies (eg, MSFT). But these jobs are actaully just catching up to the neutral, or negative, wage growth seen in the first part of the decade.

I would expect some "words" from the Fed to turn this around if we stay below 1287 for very long.

A record Dow is a huge unmet target in the political eye, IMO.

TNX wipes out all of yesterday's gain and then some. UP 17 basis points from yesterday's low.

Metals and miners look like they have bottomed for now. The inflation news may just get the next run-up kicked off today.

We're not seeing the scam week BS that we usually do. Anyone have a guess why?

AAAEEEEEEYYYYYYAAAAHHHHH!!!!

Big rally?

Either that, or confirmation of major trend change, as all sentiment indicators adjust to new parameters.

I'll pick door number two.

I rather watch. My leh short look'n good!

big buyer in the sponge pit

so far getting stuffed

nice point and counterpoint last night with dmm and dr. bob. Thanks for your thoughts guys! Front page of the WSE stuff.

Mozart's Ode to the Bull in G Minor.

Awfully quiet in here, considering the market is gradually disintegrating right before your eyes.

No celebration. No backslapping. No high fives. .....




Bearish.

Hey Doc, I just signed up for an indiekarma.com acccount. If you add the code to your site you'll get 1 cent every time I visit!!! That's the gist of it anyway.

Right now they are giving away a free $1 account. So anyone signing up from stoolville will have 100 pennies to donate to you.

http://www.indiekarma.com/merchant/Welcome.xhtml

Holy Crap.....illegal aliens able to own a home in US even though they are their illegally......WOW!!! have one guy on Crapvision (face covered) that has a 150k mortgage at 8%.....
New 60 billion dollar market...

waiting for FNM to take on the mortagages...
they will factor in deportation risk
you better believe that many of these immigrants will never be late on a payment
FNM may probably already developed a new patented deportation indicator to apply in calculation for loans...

Interesting idea.

Massive hose-a-rama on GLG. It was up at least 1.47 at one point this morning.

Now up only .25

how are they affording these mortgages on basically minimum wage? let me guess 50 yr mortgages??

Yeah, but if I read that put/call info right, you have to fear the incentive the Pigmen have to run this thing through the roof at any time...

Waiting for Shorty to tell us all to go short. He's been quiet for a bit so maybe something is up. Comfortably in cash for the third day but itching to buy or sell something.

Illinois already subsidizing mortgages for illegal/undocumented aliens.

Which really begs the question how many times can an illegal alien vote in an Chicago election? Is it possible aliens will overtake the graveyard vote????

http://www.chicagodefender.com/page/local.cfm?ArticleID=3221

I told you all to go short laSSt week

nothing has changed

except Down Jokes has been adminaSStered a 300-point scchhhPanking

aSS expected and pre-pontificated

Not necessarily, assuming they are the ones writing the puts. They'd almost certainly be short an equal amount of stock. Definitely no incentive to jam.

As I keep saying, the problem with sentiment indicators, other than pure surveys, is that there's no way to know what the true net position of the players is. There's just too much cross hedging any more.

It all comes down to support, resistance, cycles, and momentum. Sentiment analysis is just too darn subjective for me.

First two p/c readings today:

1.70
1.71

Nah, doesn't matter this time.....

Price is price.

Not ment as political commentary...

Minimum wage income is a misnomer that needs to be figured into entry level RE analysis in the major cities where illegal immigration is highest. Many are in higher paying construction and labor unions; and live many to one household.

By the way, the city of San Bernardino will have an interesting Ballot inititive within 90 days, which will include among other limitations, legal status must be proven because if you are illegal you can not rent or purchase RE within city limits. If passed, it will be legally challanged, but chances are it will impact local RE demand there.