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

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










http://www.kitco.com

Energy futures

The buyers were waiting right from open as the last of the sellers reacted to the US action. All Ords off the lows, currently -0.3% after being down around 1.5% at one stage, however there will probably be some roller coaster action for the rest of the day. Materials is the only green sector, +0.5% and Energy is down the most, -1.4%; unusual to see those two diverge.

BHP and RIO are both green with BHP +0.5% and RIO +2.3%. The golds are still red but it's minimal compared to the last few trading days.

In the oils, Santos and Woodside are both down around -1.2% but buyers are nibbling.

A fair range in Asia from China -1.6% to Taiwan +1.4%.

Canadians:

Not looking good:

There is still a possibility of hitting 10600 if we are looking at 4 year cycle low; under 10500 then anything can happen. As I have said if there is a liquidity crises then everything will get dumped even a low P/E stocks.

Asian markets are green today. Maybe we bounce here...


Bung

Green? Did someone say green? Nothing bad can happen when things are green!

I'm definitely planning on a bounce.

GOld touched 540 overnight and latched back

[attachmentid=65769]

Oops bit late with the arvo report, been doing the backyard blitz for the last couple of days with more to come. I didn't get to see much of the action but I wasn't in the least surprised to see All Ords close +0.2%. This is a bounce off pretty good support but where it goes now is anyone's guess. Materials led the sectors, +1.3% and IT finished down the most, -0.5%.

BHP and RIO had a good innings. BHP ended +1.5% and RIO did even better, +3.3%. In the golds, Lihir and Newcrest closed +1% but Newmont slipped into the red, -1.1%.

The oils did well with both Woodside and Santos closing on their highs.

A mixed bag in Asia ranging from China -2.5% to Taiwan, +2.1%.

Over to UK/Europe:







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

U.K. May Jobless Claims Reach Highest in Four Years

June 14 (Bloomberg) -- U.K. jobless claims rose in May to the highest in four years as the effects of last year's economic slowdown and higher energy costs prompted companies to shed workers.

The number of people claiming jobless benefits climbed 5,800 from April to 950,900, the highest since April 2002, the Office for National Statistics in London said today.

Economic growth slowed to 1.8 percent last year, the lowest rate since 1992, triggering the longest stretch of rising jobless claims for 13 years.

China's Industrial Output Growth Accelerates in May


June 14 (Bloomberg) -- China's industrial production rose the most in two years in May, reinforcing expectations the central bank will further restrict lending in the world's fastest-growing major economy.

Output at factories, mines and power plants climbed 17.9 percent after rising 16.6 percent in April, the Beijing-based National Bureau of Statistics said in a statement today. The gain beat every forecast in a Bloomberg News survey of 22 economists.

Australian Consumer Confidence Falls on Higher Rates

June 14 (Bloomberg) -- Australian consumer confidence dropped to an eight-month low in June as record gasoline prices and higher interest rates sapped household budgets.

An index measuring confidence fell 0.5 percent from May to 103.8, its second consecutive drop, according to a survey by Westpac Banking Corp. and the Melbourne Institute released today in Melbourne.

I was wrong. Just gave away another 2 1/2 % of my profits by my FTSE/DAX long shenanigans. I am hoping that the inflation figures cause a further ramp in the futures to get out of 2 positions breakeven. If not then I will close them for a loss then GO SHORT.

What was I thinking. Even I think the decline is long in the tooth. Actually Wednesday and Thursday should be a bloodbaths according to my charts.

RESESTABLISHING SHORTS and LIMIT ENTRY SHORTS

BDK

Jim Curry's Trendicator turned down yesterday. Short all rallies attitude has been confirmed. only took the first 100 points.

Remember this one from G.F.?

Some support lines for the next few hours of trading.

If we do bounce with the CPI numbers, I plan on re shorting in the 1250-1260 area. We shall C. Have a safe trading day.

Good Morning and thanks for joining us!

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Whatamibid? Whatamibid? How about you sir?

Bid here, RIGHT NOW!

silver and gold were building cause back in February time frame. That should provide some support. It's clearly seen on your chart

Low PE stocks in the commodities sector would have low PE ratios near the top as the earnings peeked out. Remember that the Naz stocks had no earnings, but these big oil companies etc. have had huge earnings. This is how it was explained to me at least.
Not sure what was going on with your SPX chart yesterday near the close. I dont exactly see what caused it to flucuate like an earthquake.

fwiw, I think the miners would be the best % gainers on any bounce. Based stictly on the HUI vs. NDX and how they have traded and ignoring physical prices which they really haven't traded with anyways.

long QQQQ in the premarket....gulp! Trying for a bounce play off the bell. Obvious gap ups seem to point to this eventually being retested. I'm thinking if the gaps dont get filled today that it will be next week or later possibly. Then a good chance for a trading range until the end of the month as all eyes game the FOMC meeting.

long IVAN, CDE and BGO. HAvent entered yet, putting in some limit orders. Will get out if the hammering begins.

for now there will be willing sellers on any bounce in the metals

Guess I will have to wait until open to get fills. Probably best anyways.

Got stopped out quick on QQQQ. Oh well, so much for gaps today. Maybe we can get a gap down

GS upgrades INTC & NSM

"margins and valuations have bottomed"

Goldman SAchs reducing short position on Gold on the TOCOM

A Euro reaction this morning probably means the short term may see a turnaround

metals up with a retest at 550 back in march and now reaction

Almost 10% volume on the QQQQ and IWM. Unreal. Crazy day ahead. Don't think I will play in the premarket anymore. 75 point move in dow futures in 10 minutes!
Think I would go crazy trading futures.

JPM reiterated GOOG as top pick

C reiterated GOOG at strong buy, top p[ick in the net space


If nothing has changed, why waste the effort (6 page report)?

I was once told an old timer, the reasons to buy a stock should be able to fit on the back of a business card, anymore then it is not worth buying.

Sandler upgrades GS to buy

Today's worthless data points

3 fedheads 11AM, 1PM, AH)
Beige book 2PM

Bottom formation and pullback in place on metals...

Euro holds the line...now back above 1.26

must be gettin' close to dump time, eh?

If Gold can blast thru 570 here, should have some runnin' room

I have cluster bottom formations just in from the cycle charts on momentum, intermediate and short term levels. Finally my scenario has the setup I was looking for. Certainly doesnt mean we bottom automatically and another down move is sure in the cards but risk/reward buy signal has just been initiated.

14% volume on IWM and QQQQ. Going to be one of those, don't leave the computer days!

Long QQQQ 37.34
BGO 4.19
CDE 4.05
IVAN 2.28

One gets the impression the Machines were already programmed to SELL the PPI and BUY the CPI - perhaps several days ago. The actual so called economic numbers are meaningless anyway.
Only question is whether the programming called for a short BUY until the Weekly Petroleum Inventory numbers(10am) and then SELL again. Who knows.

To be fair CPI ex energy, food, housing and Vietnamese cargo pants sold at Banan Republic - was quite tame.

What does 10% volume, 14% volume, etc. mean?

Am I the only one who has no clue?

All?

Just the precious ones?

Thoughts on copper?

TIA

sold QQQQ 37.58

Do you REALLY want an answer to that question?

Tune in every day at this time for 'Fun with Bucky'.

Volume%..... QQQQ now at 37%

Why would you say that?

Everyone else already knows the answer to that one!

OK. 37% of what? I always thought volume was quoted in number of shares. I had no idea it was reported in percentages of something.

Of course, I don't follow volume, so maybe I'm just uninformed. But I would like to know what I'm missing here.