Closed



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

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










http://www.kitco.com

Energy futures

Up today but the action seems somewhat curtailed although that's hard to ascertain without live feed. All Ords +0.5% with bearish divergences still occurring on the daily chart so I'm still thinking sideways or back to support in the short term. Sectorwise it's half in half: Materials having a stellar run, +3% and Healthcare is down the most, -1.1%.

The miners are making a meal of it: BHP +0.9%, RIO +2.4% and the golds are doing particularly well with Newcrest +3.4% and Lihir +1.8%. Newmont is the only spoilsport, -0.5%.

The oils aren't doing too badly either: Woodside +1.6% and Santos +0.8%.

There's some reasonable drops in Asia: Nikkers -1.5%, Taiwan and Singers -1%.

All Ords squeaked out another record closing high, finishing the day +0.7%. Materials continued to lead, +3.2% and Healthcare remained at the other end, -1.2%.

Miners continued strongly: BHP +0.8%, RIO +3.1% and in the golds, Lihir took the lead, +3.7% followed by Newcrest, +2.4% and Newmont remained in the red, -0.3%.

The oils were fairly stable with Woodside coming in at +2% and Santos +0.8%.

Over in Asia it looks like Honkers might be closed for the day and the others are showing a reddish tinge: Nikkers -1.6%, Singers -1.3% and Taiwan -1%.

Let's see what UK/Europe serves up:







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

Rinker-

USA ADR symbol is RIN.

Lots of buzz on the Aussie share chat boards today.

Last week Boral, also a building materials supplier, got the smackdown treatement for poor earnings.

Apparently, on Friday, RIN was punted as a short candidtate by at least two Aussie Borkers, to get a similar smackdown in sympathy with Boral.

Some reports of over a million Rinker shares shorted on Friday in Oz.

Over the weekend, Mexico's CEMEX made an unsolicited buy out offer for Rinker.

Rinker shorts in Oz got clotheslined today.

4 days volume of shorts outstanding on the USA ADR's.

400 down on the Nikkme while the Orbs test new highs...


I guess we are in for some volatility.

I assume it is due to the components.


Gold breaking resistance to 604. Looking real good for the miners.....for the next few hours at least...

Check out this crazy futures move. Trading futures must be quite the lifestyle.

Great video posted by dharmaeye on taxes last night.
"Servant to the Lendor"
Unreal, but I am not surprised. After trading stocks for years you realize the shaminess of things anyways.
Go an hour and 20 minutes in to it to see the future! I watched it twice! Hilarious view of a future pizza delivery conversation.

Extra charge for crime zone delivery! Don't worry, we can see from your bank account that you can afford it!

http://video.google.com/videoplay?docid=-4312730277175242198


This time change sucks so far. I tried to sleep longer. At least we get to see overnight action an hour earlier.

Feel free to use this picture anytime when "Breaking Shennanigans" come out!

Huge move already on 2x's record volume.

Money Flow looks like it will top out today maybe or it already happened?

Of course volume peaks in the middle sometimes.....

Rinker's board has rejected the offer and the stock closed above CEMEX's bid in Oz today.

Might get a little more pop today.

Stock's definately in play. Not clear who else would want it, but white knights rumored.

Since it's spring forward/fall back, two hours change on northern hemisphere market openings here in the antepodes.

Urapeein markets now open at 8PM local, not TOO bad.

USA opens at 1:30 AM in Eastern Australia local time. UGH! Not exactly day-traders paradise.

Lots of gap downs out there. What happened to make futures fall off a cliff? I guess we gap down as well today.


of course YHOO was just upgraded and is up.
http://www.amtddj.inlumen.com/bin/djstory?...0aebqLqWmde0mZe


QQQQ down 3 cents..

Those charts from Market Call don't match GLOBEX quotes.

Think something is wrong with the chart feed from CNN.

GLOBEX shows S&P down 3 points and Nascrack down 4 points.

Weird. It's happening alot. I assume gold is correct though. Seems to have bottomed around the same time?

VZ beats the street while at 52 week highs.
http://www.amtddj.inlumen.com/bin/djstory?...0aebqLqWmdiYode

Eurotickblasters just engaged.

USA futures gonna follow?

It never ceases to amaze me at how much people spend on cell phone plans. The nice phones out there are $300 retail at WalMart but cost much less with a 2-year plan. I don't like plans as I mainly use cell phones for emergencies and for ordering takeout.

Not surprising that Verizon is doing well. I love their DSL service - it's 50% of the price
cable in our town. Only thing is that you have to live two miles or less away from the
PBX so availability in general is very poor.

Verizon is pushing into FIOS in our area and they're talking attractive prices too.
$35 for 5 mb download speed. I pay $30 for 1.5 mb download at the moment. I think
that they want to sell television over the fiber too just like the cable companies.

After reading rmcranie's post over the weekend at IV, I'm inclined to not do anything
in the markets today. But we'll see.

On Crapvision today there is a procession of bears all preaching that it's time for market correction and now it's good time to take some profits. Famous bear legend, Joe Battagalia, advised all that he is only invested at 65% and now it's the time to get defensive. The general theme is get out of stocks and wait until after the elections are over so you, the investor, need to sell pharma and energy now before Democrats take over.

I especially like GS motherboard sell indicator going short into strongest tech seasonality. It also looks like GS pulled the rug on Nikkei when it urged investors to take profits in Tokyo Electron.

http://www.amtddj.inlumen.com/bin/djstory?...0aebqLqWmdmWmdG
KLAC upgrade

Looks like PEIX may get smacked today.

Major breakout on APCC. ESLR taking off..

Gonna give this a few more days before i get back into my energy plays (OIH, SU).

Bad tick on QQQQ to 40.25. Mark it down.

DJ Fed Accepts $3.75 Bln In 2-Day RPs

Type of transaction: 2-Day RPs
Total accepted: $3.75 Bln
Total submitted: $38.5 Bln

Agency Collateral Operation
Total accepted: $59 Mln
Total submitted: $6.35 Bln
Stop-Out Rate: 5.29%
Weighted Average: 5.29%
High-rate submitted: 5.29%
Low-rate submitted: 5.23%

Treasury Collateral Operation
Total accepted: $3.691 Bln
Total submitted: $27.05 Bln
Stop-Out Rate: 5.27%
Weighted Average: 5.27%
High-rate submitted: 5.27%
Low-rate submitted: 5.23%

Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $5.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.29%
Low-rate submitted: 5.24%

SPX tagged the rising 50hourMA for the millionth time this AM. This line has held the Spooz in check for over a month. Hasn't touched the 200hourMA (now at 1350) since 9/11 and 8/13 before that.

Battaglia, bear legend? LOL. He was known as the biggest permabull on the street for years.

In looking over today's CNBS guest list, not a bear among 'em...unless you count the guy from Bear Stearns.

And in keeping with their fair and balanced coverage, I note that Krudlow has a panel of five Republicans tonite headlined by Deadeye Dick Cheney. Good to see Crapvision trying to pull out all the stops here.

Nice Dorsett on the Q's.

Gold up 11 bucks now

I haven't watched crapvision for quite a while now because I generally find it to be a waste of time but I do remember Joe B from years ago and he didn't come across then as particularly bearish, in fact quite the opposite. It is possible though that he has changed his mindset in the last while and I missed it.

Energy can't be far behind? There is something going on with energy stock inventory levels. Now it comes out that last week's dramatic drop off was attributed to a port facility being shut down in Louisiana, so this week's inventory levels are expected to be dramatically up?

Is Shorty Charles Smith?

http://www.oftwominds.com/blogoct06/39-steps-down.html

It was intended as a pun.

Rather confusing bearish screed from "Rich Dad, Poor Dad" Robert Kiyosaki.

He writes that debt could lead to a recession or global depression. Yet he has just published a new book (supposedly co-written with Donald Trump LOL) called "Why We Want You to Be Rich."

Guess he's playing both sides against the middle.

"The world is currently in the grip of a major lending spree. But this time the target is companies, not countries or homeowners looking to refinance their credit card debt. And much of the lending is not through public share or bond markets or traditional banks. Today, private lenders such as hedge funds are lending trillions of dollars to businesses at very attractive rates."

"So what do these private firms silently lending billions of dollars mean to people like you and me? It can mean good things and bad things. One benefit is that all this hot money floating around all over the world gives people a sense of prosperity."

"What's bad is that if the bubble of debt bursts, which many insiders believe it will, the result could be a global recession and possibly even a depression. As you know, if the global economy contracts jobs will be lost, people will spend less, and asset prices may drop."

That said, this excessive debt has kept the world economy pretty stable through some challenging times, including Y2K, 9/11, high oil prices, wars, Hurricane Katrina, and so on. And this lending spree has increased asset prices in real estate, commodities, and the stock market. In fact, I've personally benefited from all this debt and funny money."

"Most of us know that a real estate flipper is someone who buys a house, may or may not fix it up, and then puts back on the market at a higher price. Well, in this environment of easy money to businesses, many private lenders are buying up public companies' stock in order to take them private. This has pushed the prices on the stock market to new highs. This is happening worldwide."

"Maybe I'm too old or not hip enough, but when I look at these businesses and the prices they're commanding, I really don't know how it all makes sense. The problem I see is that the businesses aren't being acquired with money or equity -- they're being acquired with debt. And as far as I know, somebody will have to pay that money back someday."

"So what do I recommend? For now, enjoy the party, don't drink too much, and stay close to the exits."

http://finance.yahoo.com/columnist/article/richricher/11429

Don Hays is bemoaning his current "bearish" stance, since he has only been 90% invested the past couple of months instead of 100% or 150% invested.

When he gets psycho-bearish, he goes to 85% invested.

Vic "Look, Honey, I Blew Up the Hedge Fund" Niederhoffer said last week that he was more bearish than he's been in years and said he's now only 100% long instead of the usual 200-500% long.

Hi everyone-

I am getting settled in our new FL digs (rented of course. For those of you who are unaware, we sold our FL home in June of 2005). I will begin posting WSE Pro reports later today, and will check in here from time to time.

Many tanks for your support!

INTC is up now, 4Qs could also turn green. MSFT is also up. I am going to buy a new motherboard before prices spiral out of control to the upside.

A Windows Vista Premium Ready PC includes at least:

* 1 GHz 32-bit (x86) or 64-bit (x64) processor1.
* 1 GB of system memory.
* Support for DirectX 9 graphics with a WDDM driver, 128 MB of graphics memory (minimum)2, Pixel Shader 2.0 and 32 bits per pixel.
* 40 GB of hard drive capacity with 15 GB free space.
* DVD-ROM Drive3.

Please note that many corporate systems do not meet any of these requirements. I am not going to imply that this is going to be similar to '95, but, it looks to me that there is going to be definite increase in demand for x64 processors, new motherboards and new motherboards and more new motherboards, system memory plus other components.

A most vaccuous econo-speak quote I heard when turning on CNBS this morning:

"The markets have priced-in all of these future uncertainties"

I think the patent absurdity of this statement flew over Erin's head. Didn't even see her nipples tighten up.

"cash buyers nibble on ruins"

butt I'd say 47,000 not 70,000

90%

The only non-64 bit processors sold today are the Core Duo notebook chips from Intel. Pentium 4s, Ds, Core 2 Duos, and AMD Athlon 64x, X2s and Semprons (not 100% sure on Semprons) are 64 bits.

You really want at least 256 MB of dedicated video ram.

You should go with 2 GB of system memory and make sure that your motherboard can handle at least 4 GB. The two desktops that I bought this summer have 2 GB and can both go to 4. As far as disk space goes, most systems start at 80.

I spent some time reconfiguring my home setup this morning and now have QuoteTracker up on it with a Virtual Machine to do my work-stuff as my work stuff
needs to run in Windows 32 mode. I normally run Windows 64 mode.

At this point I don't plan on upgrading any machines to Vista. They've gotten outrageous on the pricing.

There's a reason he's Buttiplugia.

He's full of crap.

Glad you made it back safely. I guess you had plenty of rentals to choose from.

In my field, most of the co's use the W2000 platform. The IT departments spent/spend much time and $ with security, legacy issues, and middleware. The ones that have IT capital to spend will not make a speedy jump to Vista, IMHO.

Here's the rest of that interview:

Erin Nippleknockers: "What's your take on the markets right now?"

Dan Blowhat, Chief Economist: "The markets have priced in all future uncertainties."

Erin: "How about a recession?"

Dan: "Yep."

Erin: "A war with Iran?"

Dan: "Yep."

Erin: "A terrorist attack?"

Dan: "Yep."

Erin: "A Democratic landslide?"

Dan: "Yep."

Erin: "Backdating Options?"

Dan: "Yep."

Erin: "Is there anything that might cause the market to sell off?"

Dan: "Well, our proprietary research model shows that a nuclear holocaust or a asteroid hitting a major population center that results in the deaths of 99%+ of the world's current population would likely cause a short-term 5-10% dip. But, of course, this would be a huge buying opportunity for those who are still alive and have cash available since the global reconstruction would result in the biggest economic boom in world history."

Erin: "Thank you, Mr. Blowhat. Very intriguing and informative."

Dan: "You're welcome, Ms. Nippleknockers. I've always admired your.....work."

the ol' monday morning bear suck-in followed by a double buckoff in crude to bring 'em back to green

[attachmentid=71475]


Bought this energy stock, don't know anything about it, but, it keeps going higher. It reports earnings on Nov 2!

TZU
Thanks for posting the money flow rectangle at the bottom of the chart--I rarely see that item attached to a chart, and yet, its very helpful to people like me who need thses statistical wheelchairs--

beardrech Gold shtunks of the world Unite & Arise! You have nothing to lose,and many chains to gain. Golds up;soups hot and I got a warm place to crap--Need I repeat my mantra?:I chose romance.

Dec crude 58.75 -2.00 advertising print

The Oct 26-Nov 6 timeframe is the most bullish period of the year (last few days of Oct and first few days of Nov). Market has rallied 14 straight years during this period. Imagine this year will be no different.

Doesn't mean we rally until Nov 6. In fact, some years the rally tops on 10/31 or 11/1. But there's always a rally in here somewhere. So today's "strength" is not surprising.

In other news, as of last week, the Sow has had 11 consecutive weeks with higher highs and higher lows. This has only happened once before (Jul-Sep 1951). The Sow has never had 12 consecutive weeks of higher highs and higher lows. In 1951, the Sow moved up 13% during its 11-week streak. Then proceeded to give back 2/3rds of the rally in the following six weeks. FWIW.

Al
No joke, but if you insist on daytrading in stygian darkness, look up some lighting companies peddling lightbulbs that have the power to replicate daylight--

I used to work nites in a Chicago postoffice and invariably ,a few hours after midnight,I felt as if someone were scratching my face with sandpaper;and believe it or not, the expression for this condition was:THE BEAR'S GOTCHA.

beardrech a lumen undernourished day traders mind is a terrible thing to waste

DMM
Did you happen to see SNL's parody of schwab adressing some young nervous investors--its a perfect complement to yours--

beardrech Keep up the good work--the steady drumbeat by native satirists might just be the perfect cleansing cream for ridding us of these charming TV lice.

Bought unleaded gas in Huntington Beach yesterday for a shocking $2.15/gal.

Looks like sub $2.00/gal. is in the bag before Thanksgiving.

Another Full Scale Collapse in energy prices today, along with the concurrent Boner in the tech stocks.