Closed

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

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










http://www.kitco.com

Energy futures

Another try at the all-time high but again All Ords has fallen back. Currently the index is +0.3% with Energy leading the way, +1.6%. Property Trusts is back in its rightful position at the bottom of the pack, -0.5%.

In the miners, BHP and RIO are doing a bounce and all the golds are up although not to any great degree.

The oils are strong: Woodside +1.4% and Santos +2.2%.

Over in Asia, it looks like India closed again and the rest have slight gains.

Mexico, Decade After Devaluation, Sells 30-Year Bond

Oct. 24 (Bloomberg) -- Mexico sold 30-year fixed-rate bonds denominated in pesos for the first time ever today.

The government sold 2 billion pesos ($184 million) of the 10 percent peso bonds due in 2036 to yield 8.08 percent. That yield was 4 basis points, or 0.04 percentage point, below the 8.12 percent yield on the government's 20-year bonds, underscoring the strength of demand. Investors placed bids for 12.6 billion pesos of bonds -- 6.3 times the amount offered.

The auction, which is the first by any Latin American government of fixed-rate, local currency bonds with such a long maturity, highlights Mexico's rebound from a devaluation in 1994 that caused the banking system to collapse and inflation to soar. Annual inflation was 4.1 percent in September, down from 52 percent in January 1996.

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Peru September Exports Increased to $2.1 Billion

Oct. 24 (Bloomberg) -- Peru's exports rose in September to the second-highest monthly total as copper, gold and zinc sales surged.

Exports rose 42 percent from a year earlier to $2.1 billion, the most since a record $2.3 billion in July, foreign trade promotion agency Prompex said in an e-mailed statement today. Copper exports more than doubled to $722 million, while gold exports rose by a quarter to $362 million and zinc sales tripled to $160 million.

Peru's exports, led by mining, fishmeal, oil and gas, are likely to increase by about 35 percent to $23 billion this year on soaring commodity prices, spurring a 6.6 percent economic expansion, according to the Foreign Trade Ministry.

South Korean Economy Grew 0.9% on Business Investment

Oct. 25 (Bloomberg) -- South Korea's economy accelerated in the third quarter as increased business investment and construction extended the longest expansion in a decade.

Asia's third-largest economy grew 0.9 percent from the second quarter, when it advanced 0.8 percent, the Bank of Korea said in Seoul today. The central bank warned the impact on confidence and growth from the nuclear crisis in North Korea poses a risk for the economy.

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Japan's Trade Surplus Unexpectedly Widens 6.9 Percent

Oct. 25 (Bloomberg) -- Japan's trade surplus unexpectedly widened in September as rising overseas demand for automobiles and electronics and a weaker yen bolstered exports.

The trade surplus rose 6.9 percent to 1.01 trillion yen ($8.5 billion) from a year earlier, the Ministry of Finance said today in Tokyo. The median forecast of 36 economists surveyed by Bloomberg News was for the surplus to narrow to 859.4 billion yen.

Australia's Consumer Prices Rise More Than Expected

Oct. 25 (Bloomberg) -- Australia's consumer prices rose faster than economists expected in the third quarter, driving up the nation's currency as traders bet the central bank will raise interest rates next month.

The consumer price index climbed 0.9 percent in the three months ended Sept. 30 after gaining 1.6 percent in the second quarter, the Bureau of Statistics said in Sydney today. The annual rate was 3.9 percent.

The Reserve Bank of Australia, which raised borrowing costs in May and August after inflation breached its target range for the first time in more than three years, will move again on Nov. 8, most economist say. New bank chief Glenn Stevens said this month his ``main job'' was to ``see off'' persistent inflation.

``Today's number is worse than expected and it tips the probability over toward a rate rise,'' said Shane Oliver, chief economist at AMP Capital Markets in Sydney. ``The Reserve Bank has indicated they are concerned about inflation risks.''

Okaaay, so All Ords finished the day with a record closing high albeit by just 6 points. The index closed +0.7% with five sectors clocking up more than a percent. Healthcare moved into the lead, +2.2% followed by Energy, +1.7%. There were two red sectors, Property Trusts -0.3% and Consumer Staples -0.1%.

In the miners, BHP and RIO moved right along, +1.5% and +2.6% respectively. Golds also cranked up: Newcrest +2%, Lihir +1.8% and Newcrest +0.9%.

Oils remained up but didn't build on the morning gains: Woodside +1.6% and Santos +2.3%.

Mixed results in Asia ranging from Nikkers -0.5% to Singers +0.7%.

Over to UK/Europe:







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

GM
http://www.amtddj.inlumen.com/bin/djstory?...HqaebqLqWmde0nt
GM earnings
http://www.amtddj.inlumen.com/bin/djstory?...qaebqLqWmdi3mdu
JBLU upgraded.
about time....

GM up nice so far...

Wonder if they might make a run at SPX 1400 today.

LUV upgraded. Guess it is time for the upgrade cycle on the airlines.

Hey wyndy, wake up.
PLLL upgraded.
Great timing of them.
http://www.amtddj.inlumen.com/bin/djstory?...HqaebqLqWmdq1nZ

Sold GM. That was fun.

Hi everyone-

Just a reminder that I am hitting the road to head back to Florida today. I expect to be back here with you on Monday. The WSE Pro Precious Metals report will be posted this morning. That will be the last update until Monday or Tuesday. I will post any changes in the publication schedule here and on the front page of the WSE.

Many tanks for your support. I'm looking forward to having a few days off, AND to getting settled in and back to work next week!

DJ Fed Accepts $9 Bln In Overnight RPs

Type of transaction: Overnight RPs
Total accepted: $9 Bln
Total submitted: $23.35 Bln

Agency Collateral Operation
Total accepted: $4.2 Bln
Total submitted: $8.55 Bln
Stop-Out Rate: 5.23%
Weighted Average: 5.24%
High-rate submitted: 5.24%
Low-rate submitted: 5.2%

Treasury Collateral Operation
Total accepted: $4 Bln
Total submitted: $11.95 Bln
Stop-Out Rate: 5.22%
Weighted Average: 5.23%
High-rate submitted: 5.24%
Low-rate submitted: 5.18%

Mortgage-Backed Collateral Operations
Total accepted: $800 Mln
Total submitted: $2.85 Bln
Stop-Out Rate: 5.25%
Weighted Average: 5.25%
High-rate submitted: 5.25%
Low-rate submitted: 5.23%

Great trade. GM up about 100%, right? Wasn't it around $18 a while ago?

It's 5 AM Pac time. Pretty rough to get up that early for the single guys.

Against zero expirations. On Fed meeting day. Hmmmm.

That will leave them with a $21 billion rollover tomorrow.

Plus the Treasury will be settling $31.5 billion between Thursday and Tuesday.

latest YOY RE sales

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Firefox 2.0 is out, one of the neat new features is an automatic spell check with no additional tool bar needed.

Sow and Spooz flat or down. Kinkies and smallcraps flying high. Same ol. Short squeezin' every whicha way. Feels like early May. Probably isn't. But feels like it.

MOT & NOK failed to make the numba
Now Radio shack misses and lowers guidance due to slack wireless sales

NSM & TXN the two largest cell phone component makers are both up big

This seems like a pregnant moment. Are the momos ever going to get crushed by reality?

*DJ Bush: "Absolutely We're Winning" War On Terror

*DJ Bush:Will Boost Forces In Iraq If Commanders Demand It

I thought we were winning?

As Jack would say.....

Oil..........I'm Baaaaaack

Was expecting a bigger pullback than what we have. OIH and SU rock'n.

I do not think I have ever seen an up move in oil and gold on the day of the FOMC

Still long OIH. But feels more like a technical rally to me. Let's see what happens at 140-142, the nexus of the 50wkMA and the 200dayMA.

A lot of stocks/sectors doing the "technical" thing right now. Some of them are likely rallying "for real". Others just floating (or screaming) towards key resistance and will fail. Just don't know which ones yets. Next few weeks should be instructive.

Pigmen were waiting for oil inventories report which were "unexpectedly lower than expected." At exactly 10:30 gold, crude and all gold and energy stocks took-off in an orgy of reckless abandon.

If we get the usual Oct/Nov pattern, should see a sharp 2-3 day down move this week followed by a screaming rally back up next week. Of course, nothing appears to be usual this year. Guess we'll find out.

How does the price compare??

Shorty scores huge

Digital Angel (DOC) awarded patent for glucose-sensing implantable microchip that will allow people with diabetes to simply and painlessly wave a sensor over the chip instead of pricking skin for blood sample

huge huge huge

Strength in copper is amazing considering that it’s in a correction mode till middle of next year; well it doesn’t suffer from seasonal factors

Deedle Deedle Dum! Good on you.

In other news, NAMO just went underwater. Gonna need to stop it at -10 or the show dawgs will fall down.



New Lows also signaling.

How about soft commodities??? There are billions out there needing food since some of them have real jobs. Ok, I might be wrong and world will collapse with Wild West debt and trade deficit.

DJ Centex CEO: Existing-Home Inventories Tripling In Some Areas


As Tony the Tiger would Say........

This is grrrrrrrrreat!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Shorty,

What's the name of the company who is one of the partial owners or holding co. of DOC you once mentioned?

Thanks,

Sea urchin

Full Blown Meltups in the usual overshorted Large Breasted Wonders.......

New, all-time, lifetime, record highs in the utilities, led by an Epic Breakout in FP&L

Massive show of strength in the drillers today.

Another Dow stock on the cusp of making a new, all-time, lifetime, record high....

Chevron smoking also...........

Trannies are rocking, especially the rails.

Another double top blown out with force on CSX, KSU powering up to new record highs.

RE inventory just keeps on skying. Off the charts really. Now 100% higher in nominal terms than at the 89-90 RE peak. Of course, U.S. population has grown since then, but only 20%.

Looks like the "buyer's" market might last a bit.

At the 89-90 peak, it took five years to work off the inventory and an equal length of time for prices in the hottest markets to bottom.

Methinks some of the homebubblers may not make it to 2011, probably not even 2008.

Just for fun, note that WCI estimated last Feb that FY07 yearnings would come in at $4.90. Current guesstimates: $0.27. And that's probably a wild exaggeration. And BZH guesstimated $6.20 just one month ago. Current guesstimate: $3.68. That's a 40% haircut in a month. What will next month bring? And the month after that? And so on.

Yet another new, fantastic, record high in the REITS

But momo is waning.............

All those houses sitting for sale are going to be refinanced with a new, yet-to-be announced new mortgage product.

Probably a "no interest until you sell" mortgage.

Unmitigated Buying Panic in the mortgage companies today.

You're my hero, Shorty!

Back off, Anna! He's all mine!

Oil off the bottom???

Simply amazing,

If it’s like before CPC won’t bottom till Feb/March and what happen to those normal corrections?? Will we have to wait r next year for it???

I know what the excuse is now for why the market will go up till the election BUT what will it be when the DOW is over 13,000 in Jan.?
Please this is not a taunt just curious.

Veritable Panic into Buffalo Wings and Candles today!!!

Oh, and by the way, if we had the 4 year cycle bottom already then this blast off is only going to look more impressive than 1995.