Closed

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

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










http://www.kitco.com

Energy futures

Market pausing to digest today. All Ords +0.1% with not a lot of movement in the sectors. Energy is up the most, +0.8% and at the other end, Consumer Staples is down -0.7%.

Minor gains on BHP, +0.6% and RIO, +0.1%. Golds are looking better, up more than a percent.

In the oils, Woodside +0.5% and Santos +1.6%.

Asia neither here nor there, minor gains or losses.

I know some of you here like CCJ. Looks like it put in an IT bottom yesterday. Who knows in this market. Probably retraces some but as everyone is looking out for a crash here, it seems a good time to run them up.
The correlation with the nasdaq and the miners is an odd setup to me currently.

If the commodity stocks turned around and everything else flatlined while we are at the highs it seems the indexes would be pushed up further.



Cool site.

http://www.marketwatch.com/tools/quotes/qu...=newsq&symb=CCJ

Large resistance at 36 plus earning. Should be entertaining.
[attachmentid=70426]



McQueen

nice breakout
http://stockcharts.com/c-sc/sc?s=$BPO...4917&r=8435.png

http://stockcharts.com/gallery/?$BPNDX

divergence
http://www.market-harmonics.com/free-chart...ntelligence.htm


all bullish

OEX crosses the 21dma
http://www.schaeffersresearch.com/streetoo...cboe_eqpcr.aspx

Wowo!

MAMA got Momo

Caught up in the social whirl again





Pretty much a sideways day for us.


UK/Europe doing something similar:







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

Footsie bulls fighting it out at the 6K line.

Bears been beaten off 4 times already today and they're trying again right now.

jobs 51k vs 115k exp

weak report all around

manufacturing -19k

hourly earnings +0.2%


very weak. will the mkt care?

Good Morning!

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Tobin Smith's proposition that the market is going up because stock buybacks is reducing the supply of stock is pure bullshit.

I don't have the stats, and Smith certainly didn't cite any sources, but I'd be willing to bet that the increase in the supply of stock from option grants, secondaries and ipo's far outstrips the reduction in supply by stock.

All stock promoters are liars, scoundrels, and thieves. Tobin Smith is a stock promoter, a major media whore pumper and dumper.

Please, let's not give any credence whatsoever to anything these scumbags say.

Thoughts from a recent email.
The pecentage gain in the Dow from the '32 low close to the '66 high
close was 2314.24%. If the gain from the '82 low is .618 times as much
(1430.28%) the Dow would reach 11889.

1966-1932= ?

2006-1982= ?

Looks like we got another 10 years to go.

My remark was so profound that everyone stopped posting.

HUI bouncing back nicely as market searching for life-jackets

SOX fails to break up outta da wedge...

RMZ looks to have put in spike top this AM...could be the last hurrah...

TNX/TYX blasting outta da turn area...

Now let's see if they can start to hack the Dow...

What is the reason for the up in the dollar other than there are more buyers than sellers?

Uncle Buck bangin' on 1.13 against the Loon repeatedly over the last few days...that level may be about to finally give way....

Sorry if I offend the bear status by posting tobin's rant last nite, always like to know what the thieves,liars and scoundrels at up to, though his idea that the recent market was good news and we needed good news made me think much of this pump is political.

Buck/Yen tryin' to pop outta massive weekly wedgie...looks like it might just make it..

If it does, dollar bears may have a very long wait....

Good stage management!
Bucky's back to the tunnel but I'm thinking it has a date with the thick blue apex @ 84.5 in several weeks.

You can post that stuff. I just want to be sure that thousands of casual readers know exactly where I stand on it.

When I respond to a post in that manner, it's not a personal criticism of the poster at all. I'm glad you brought the article to our attention. It's simply that I want all of our visitors to be aware of my feelings on the matter. I wish I had the time to refute his ridiculous arguments point by point.

The market is going up because it's going up. There's enough liquidity and bullish sentiment to make that happen. But as I wrote for subscribers to the WSE Pro, the market is getting dangerously stretched versus liquidity. If the Fed and FCBs don't man the pumps when the Treasury starts pounding the market with supply again next week and for the next 2 months, the market won't be able to survive on nonsense like Smith's alone.

The Fed can pull more levers than you can.

Also, Monday is an incredibly ethnocentric idiotic market holiday called Columbus Day. Very patriotic to buy the dollar, you know. All holidays are bullish.

All non-holidays are bullish, too.

Ignore the data. Mr. Market will have none of that "recession" talk today. He's trying to take Osama bin Silba to the woodshed as we speak ...

Hedge Funds Threatening Defaults in Options Scandal Win Ruling

By Caroline Salas

Oct. 6 (Bloomberg) -- Hedge funds won the support of a New York court in their battle to demand early repayment of bonds from companies that fail to meet financial-reporting deadlines
http://www.bloomberg.com/apps/news?pid=206...qcwg&refer=home

I wonder if this is going to apply to FANRON?

That gigantamous wedgie-within-a-wedgie pattern on the hourlies still operational on the Spoozer.

Now coming back down to retest the throwover. Must hold 1342-1343 or so.

If the Spooz comes back thru the wedgie, first stop is likely the 200hourMA now at 1318. If that gives way, quick trip down to 1292 and points further south. The wedgie started with the 7/24 low at 1240ish.

Watch the wedgie. A failure sets up a very fast move or, dare i say it, a crashette-like scenario. So imagine they will do everything they can to bounce it again at 1342-1343.

Love the fact that bondos are getting sold hard on the bad jobs news. Pretty much exactly the opposite of what you'd expect....except here in Bizarro World. Shows that funnymentals and newsnoise have almost nothing to do with short-term price movements.

Simple explanation for that is that the 3 weeks of Treasury paydowns ends this week. Next week is about neutral, then they start pounding in the supply. Treasury paydowns push yields down temporarily, and when the end, rates and yields march back up.

Wow...

Large Breasted Wonders are on fire today!!!

Sometimes a prelude to an End of Day Meltup

Cyclicals still looking good.

Buck has been in a 2.50 range for 4 1/2 months. No surprise that it's right in the middle of the range. The only surprise would be if it breaks out, especially if it's to the upside.

Copper looking good....

Tyson down 8 days in a row.

Might take a long stab at it in case the market heads south and turns defensive.

Just like 1995

The first hint of a "top", bears pile on.

Hey, even I was tempted to go "tits short" on the open!!!

Put/call today:

1.05
.99
.99

Another one bites the dust.....

Kara Homes in NJ filed for Chapter 11 today.

Back in 2002, Kara was "honored" by Builder Magazine as the "fastest-growing homebuilder in the country." And last year, Inc magazine listed Kara as one of the 500 fastest-growing private companies in the U.S.

Guess Kara is now the fastest-shrinking homebuilder in America, though I don't think any magazines publish lists like that.

Hard to imagine they will actually punch this thing through to new highs.

They'll probably do it anyway, just like TGT.

I warned last year that many, if not most builders would go bankrupt. The smaller dominoes are starting to fall. Now it's just a matter of time until the first big name files.

All we need now is a K-Wave Throwover and down she goes.....

Very funny.

Chop House A.G. Edwards upgrades this REIT today.

I think I'll short it now.

They will probably buy YHOO next.....

11:38 [GOOG] Google in talks to acquire YouTube for up to $1.6B: WSJ

Builders have no assets. Even if they do own land outright, and most of them don't, who they gonna sell it to?


BWAAAAAHAHAHAHAHAHAHA!!!!!!!!!


BWAAAAAHAHAHAHAHAHAHA!!!!!!!!!


at more than ten cents on the dollah?


BWAAAAAHAHAHAHAHAHAHA!!!!!!!!!


BWAAAAAHAHAHAHAHAHAHA!!!!!!!!!

Mark Cuban had some choice comments about YouTube being worthless.

Goldman's Sac just dumped TGT from their "Conviction" list and added WMT instead. The plate-spinning game continues.

What's a Conviction list anyway? Sounds like there are a lot of companies who could be on that roster.

7 states have ballot measures regarding Stem cell research. Been watching STEM
the last few weeks, election might be a nice sell on the news, if we get a decent run up.

[attachmentid=70433]

Oil is down, so the HedgeFunds are boning up the retail stocks again.

Urban Outfitters.....

Edwards raised target price to $104 from $93 saying that Simon Property "remains one of the more compelling investment opportunities in the REIT industry as the stock trades at a meaningful discount to other 'best in class' REITs."

SPR is currently trading at 55 P/E. LOL.

Reminds me of 99-00 when ANALysts would upgrade a tech stock because it was trading for only 100 P/E when peers were trading at 200 P/E.

Edwards adds that "an uneventful holiday season from a retailer bankruptcy perspective...could provide catalysts for [SPG] shares." So it sounds like Simon should do fine as long as the companies it rents mall space to don't go bankrupt.

Floor trader friend of mine says that Middle Eastern investors have been the ones buying the U.S big caps.

No wonder.

Their stock market is a disaster.