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

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










http://www.kitco.com

Energy futures

Oops, apologies for the late opening, sidetracked by visitors yet again...

Well it's all about oils and miners today with other sectors sporting meagre gains, if any. All Ords +0.9%, Materials leading, +3.2% followed by Energy +2.6%. At the other end Consumer Staples is down 0.9%.

In the miners BHP and RIO have done a huge leap: BHP +3.3% and RIO +4.6%. The golds also motoring: Lihir +9.1%, Newcrest +2.8% and Newmont +1.3%.

Oils looking also shooting up, especially Woodside, currently 3.5%.

Over in Asia it's a mix ranging from Nikkers +0.9% to Sth Korea -1.3%.

Chile's Growth Slowed in First Quarter on Agriculture

May 23 (Bloomberg) -- Chile's economic growth slowed in the first quarter as domestic demand and agricultural production declined.

South America's fifth-largest economy expanded 5.1 percent in the first quarter from the previous year, down from 5.8 percent in the fourth quarter of 2005, the central bank said today on its Web site.

Packer, Melco Plan $1 Billion Macau IPO, People Say

May 24 (Bloomberg) -- James Packer's Publishing & Broadcasting Ltd. and Melco International Development Ltd. are planning to sell $1 billion of shares in an initial public offering of their Macau casino venture, people familiar with the transaction said.

The companies plan to sell 20 percent of the venture and list the stock on the Nasdaq exchange later this year, said the people, who declined to be named before a statement is made. The sale will value the venture at about $5 billion, the people said.

Packer, Australia's richest man, and Melco Chairman Lawrence Ho, the son of Hong Kong billionaire Stanley Ho, will use the funds to expand in Macau, which is forecast to overtake Las Vegas as the world's biggest gambling market this year. The pair are building two casinos in Macau and last week bought land for a third.

What a load of crap Journalism reaches a new low..

Australian Dollar Falls on Concern Over Bird Flu in Indonesia

May 24 (Bloomberg) -- The Australian dollar weakened after the World Health Organization said seven Indonesians may have contracted bird flu from other people, encouraging investors to take money out of the region.

The currency fell from its highest this week after the WHO reported the cases yesterday and said six of those infected had died. Fear of a human spread of the virus is growing, in part because it is so lethal to people. The disease has killed two- thirds of those confirmed to be infected this year. An outbreak could threaten global economic growth.

Screw economic growth, it could threaten your life. At that point who cares about markets when your lying in a hospital taking your last breath. This bird flu is serious.

The point I was making is that the Aussie dollar most certainly didn't fall because 6 Indonesians died of bird flu...

Unless it’s different this time???

It's Building a base or quick up to fill the gaps to relive the Dover Sole condition then back down.

A lot of volatility around on global markets today. All Ords trimmed down a little to close +0.6%. Materials retained leadership closing +2.7% and Energy wasn't far behind at +2.3%. IT, -1.5%, did a dive to take last place.

Miners did well: BHP and RIO finished the day +2.9% and 3.4% respectively. Golds gained a little more from the morning post.

Oils retained their gains staying at about the same level all day.

Asia like a yo-yo. Nikkers got the jamjob, +2%.

Tough call on UK/Europe; missed out on the late day decline in the US but with most of Asia up it may choose to follow the latter.







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

DAX hourly

downtrend broken, pos divs, but negated on first test of hourly EMA 50


Chart öffnen

pullback to 50 fibo, now off to the races?


Chart öffnen

Ifo expectations peaked in March/April and really started turning down this month. Like I posted before this usually marks a top in the German DAX.

If SOX doesn't hold the 2003 line this market is toast.

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Valero Refinery fire in at St. Charles probably helped gasoline prices yesterday. Only 25K barrels per day though. But we have a runup to the long weekend which should increase demand for gasoline. Forecast for New England is mixed so far.

Check out PEIX....roller coaster....I guess it just reset as it had it up 3.50 or so...now up .20
GM up 4% premarket......up tp 30000 people will take the plan..
Indonesia bird flu panic back to the front page...Cramer pumped them yesterday....calling an end to the panic....lets see how they trade today!

Repeat of yesterday?

Fine with me.

Tested yesterday's high at 30.70 this morning....double top baby!!!

I see 33-35.

You can be right...i have stop at yesterday's high.

Premarket is getting where you can trade it again it seems....QQQ down nice this morning....thought for sure I was getting stopped out this morning on SWH and SMH immediately...

Durable goods down 4.8%......guess its the gamble between no more interest rate cuts vs. declining economy.... Thw whole world watching Burn arke for another increase

alt energy getting bids again...

bought SATC for a trade...

resistance up ahead
silver stocks getting tagged....
wish they would just smack the hui again and get it over with.....GG not looking the greatest....hard to ignore that volume...
finger formation becoming clearer on gold?

Okay, who turned up the juice on PEIX...31.40 in prehour...

Covered the QQQQs. Still made money on them but gave back 28 cents on 1/2 the
load. QQQQs still negative so far this morning. I can't watch the market but my feelings are to buy metals later today on a dip. And short the pop. But I'll be on the road this morning.

The End, are you selling it at the bell or waiting for awhile? I bought some BKC when it opened....perhaps it would fair alot better here than 2 weeks ago.....

My RMBS sure is looking good.....BRCM is at the lower BBs....put a stop in at the lows...

A good short idea might be MAD....copper wiring...

Which ones? Im watching the 305 area on hui....a break below that leads to 250 ..IMO....seems we may test that area, bounce, then decline to 250....just pondering ideas......Ill be loading the boat at 250 if it does occur...

If you are typing about VG. I need to see where it opens. I will not be greedy, I'll tell ya that.

Doesn't look like Sears (SHLD) liked the durable goods report.

People must think the stock price has something to do with retail.

I see no news on SBUX to account for its swoon today.

Other than that they're releasing Meryl Streep's audio book of "The Velveteen Rabbit."

Must be controversial.

Still holding on to my PEIX short with a death grip...

hoping EP fills the gap finally to reenter half sold position....seems like most damage to the market may be done early today...

Me too, I Am Madness.

That sentence works for two different meanings, both correct.

Oh man....fill that gap pretty quick...the top today is oh so key.

Uh.... was this a downmove fakeout, to be followed by a blast upward?

Inquiring minds fear to know.

That's my bet Drano. If there is a PPT this thing hold right here.

existing home sales in 15min

imho, weak number gets bought on the fed's done raising (see bull playbook-chapter X)

will it be a 10min or 10day rally?

qqqq breaks through the 5 day cycle MA at 38.77.

WOW, It's kinda like a .......MIRACLE

Fannie finally fails at fifty.

For AH and night session, gov't temporarily pulled their infinite S&P 500 futures bid at 1258, so their PigMen buttbuddies could HogShank the longs and stop them out of their positions in the dark of night, and suck-in fresh new shorts to McQueen on this morning's opening bear punishment rally.

Now the infinite bid is back.

Carry on.

I'm out of PEIX at 31.20...i'll look for 33-35 for reentry.

News of Fannie's failure proves premature.

My golds are being taken out to the woodshed and beaten with a garden hose like a red headed stepchild!

Bung

=DJ DATA SNAP: US Apr New-Home Sales Unexpectedly Climb

.=========================================================
New Home Sales Apr Mar ! Consensus: !
Overall Sales: 1.198M 1.142Mr ! 1.150 Mln!
Percentage Change: +4.9% +12.0%r ! Actual: !
Months' Supply: 5.8 6.0r ! 1.198 Mln!
=========================================================

By Jeff Bater
Of DOW JONES NEWSWIRES


WASHINGTON (Dow Jones)--New-home sales unexpectedly climbed a second straight month during April even as inventories kept piling up and prices rose.

Sales of single-family homes increased by 4.9% to a seasonally adjusted annual rate of 1.198 million, the Commerce Department said Wednesday.

Wall Street had expected a drop in sales. The median estimate of 23 economists surveyed by Dow Jones Newswires and Crapvision was a 5.2% decline to a 1.150 million annual rate.

Year over year, however, sales were down 5.7% since April 2005.

I'm just hanging on.

I'm mad as hell and I just can't take it anymore! Who's with me?

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Bung

Me too, Bung.

Looks like Vonage is givibg everyone a chance to buy, buy, buy, on weakness