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

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










http://www.kitco.com

Energy futures

Apologies for the late opening, sidetracked by visitors bearing masses of cream cakes; what could I do?

It's turning out to be quite a reasonable bounce with All Ords +0.9% albeit still in the trading range of the past few weeks. The sectors are mostly green with the majority up more than a percent, led by Energy and Consumer Discretionary, +1.3%. There's a couple of reds, Property Trusts -0.5% and IT -0.3%.

In the miners, BHP showing reasonable volume but stalled pricewise, +0.1%. RIO doing better at +1.3%. In the golds, Newmont -0.9%, Lihir +3.1% and Newcrest +5.2%.

Oils continuing in their recent bipolar fashion: Woodside +1.5% and Santos -1%.

An up day in Asia: Singers +1.1%, Nikkers +1% and Sth Korea +0.8%.

Chile Manufacturing Has Biggest Jump in Five Months

Nov. 28 (Bloomberg) -- Chilean industrial production expanded at its fastest pace in five months in October, which may discourage the central bank from cutting lending rates as the economy emerges from a slowdown.

Manufacturing expanded 4.7 percent in October after contracting 2.6 percent the previous month, the government-run National Statistics Institute reported today in Santiago. Joblessness fell to 7.4 percent in October, its lowest level in eight months.

Japan's Output Unexpectedly Rises to Record on Autos

Nov. 29 (Bloomberg) -- Japan's industrial production unexpectedly rose to a record, backing the central bank's assessment that the world's second-largest economy is strong enough to withstand higher interest rates. The yen rose.

Factory output in October climbed a seasonally adjusted 1.6 percent from a month earlier, the Ministry of Economy, Trade and Industry said in Tokyo today. Gains were led by autos and semiconductors as production rose 7.4 percent from a year earlier, the biggest jump in more than two years.

Australia's Trade Deficit Widens to A$1.26 Billion

Nov. 29 (Bloomberg) -- Australia's trade deficit widened to a five-month high in October as record imports outpaced gains in mining shipments from the world's largest exporter of iron ore and coal.

The trade shortfall widened to A$1.26 billion ($986 million) from a revised A$728 million in September, the Bureau of Statistics said in Sydney today.

Australia's trade balance has been in deficit since April 2002, peaking at a shortfall of A$2.5 billion in November 2004.

The economy expanded 0.3 percent in the second quarter, the slowest pace in three years, as companies depleted stockpiles and consumer spending eased. Net exports detracted 0.2 percentage point from that growth rate.

Miners and energy producers are investing in new mines, offshore gas rigs, ports and railways to meet surging Asian demand, fueling a 13 percent gain in imports of machinery and industrial equipment in October from a month earlier.

Mining investment surged 70 percent in the 12 months to June 30. Some of the expansion projects are not complete, delaying an export recovery.

Rio Tinto Group, the world's second-largest iron ore exporter will complete a $290 million mine expansion in Western Australia state at the end of this year and isn't due to finish a $530 million project to enlarge another mine until the end of 2007.

Woodside Petroleum Ltd., the country's largest pure oil and gas company, said last month it may miss its full-year production targets because of construction delays at its Otway gas project in south- eastern Australia, which was due for completion this year. Its Enfield project in north-western Australia has also been delayed, the company said.

Centennial Coal Ltd. said in August it faced delays at its Newstan mine in New South Wales state, hindering its ability to take advantage of near record coal prices.

Miners are looking to boost capacity at ports and railways to help meet demand. Rio Tinto is spending $690 million to increase output at the west-coast Dampier port, and is considering expanding Cape Lambert at a similar cost.

BHP Billiton and Xstrata Plc's coal unit are among the companies working with the Queensland state government to spend A$2.2 billion expanding the state's coal ports and railways. Babcock & Brown Infrastructure Ltd. will invest A$639 million expanding the state's Dalrymple Port.

Now that Chile is "emerging from a slowdown", maybe it will finally light a fire under the moribund Chilean schlock market.

Here is some food for thought for you FX traders. and Gold Bugs

Monday view: Airbus could trigger 'nuclear option' of currency controls
By Ambrose Evans- Pritchard
Last Updated: 1:59am GMT 27/11/2006



If you have funds across the Channel, or a ferme in Acquitaine, be vigilant. Keep a close eye on Europe's press, because you might one day find your money is nailed more immovably to its Continental home than you had thought.

http://www.telegraph.co.uk/money/main.jhtm...27/ccview27.xml

Oh yes, well, back to where we were a couple of days ago: the excitement is killing me *yawn*.

All Ords +1.2% for the day and there was only one (deservedly) red sector, Property Trusts, -0.4%. Every other sector put on at least one percent with Financials up the most, +1.7% followed by Telecom and Consumer Discretionary, both +1.6%.

In the miners, BHP failed to join in the euphoria, +0.2% but RIO ended +1.3%. Not much change on the golds from the am post.

Oilwise, Santos came off the lows, -0.2% and Woodside finished +1.2%.

Over in Asia, Nikkers did a surge, +1.7% followed by Singers +1.1%.

And on to UK/Europe:







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

Decision time on the Semi's. Right at the 20 and 50 SMA.

Bull argument-Hammer yesterday?

Bear argument-Bearish crosses on MACD and Full STO.

Base building for foolish run or some would say top building for the huge mud slide

In May we basically just crossed the 13dmas on many averages then the macds were set to cross over for the buy signal. Immediate failure ensued trapping most including myself.
Funny that SMH has the macd crossover setup now except the opposite condition. Looks like it could break but I think that hammer setup trumps it. Mostly because of the needle bottom formation.
I think that in this market you just need to sell winners when you make nice jumps in gains before they are u-turned. Just when you think you are going to hit the homerun, boom!!
I can't believe the Orbs did an absolute perfect McQueen u-turn. Ironically, it of course goes right back to the gap fill. What a great play. They got me good in the morning......crap....
On top of that the EOM tape printing jam is set to run into friday making the fund gurus look like champions.
No use shorting before Christmas with retail. I'm just playing the runups and diving for cover with the shorts. Pigmen selloff most likely is going to be the same as the past few years.......selloff in January.....imo.

Nice 16 point jam in the futures. CSCO was probably the tell yesterday. A 5% jump on 2x's normal volume. Who would have guessed? That was some fine maneuvering.
Golf clap....

Feedfool
http://stockcharts.com/c-sc/sc?s=QQQQ&p=60...409398&r=66.png

Needle bottom, macd Dover Sole and at bottom of the channel. Classic. I am buying QLD in the morning or friday and letting it ride as long as this channel holds. Flipping to QID on any break. No more hedging with individual stocks or options. That was a failure.
Link from TT.
http://www.traders-talk.com/mb2/index.php?showtopic=63057
Great analysis!!
as well as this
We just did a 50% retracement and the RSI bottomed at the same time as last time.

Check out the macd on Nov 5th area right before the big 3 dollar gunning of the cubes. This of course aligns which much better gains in individual stocks or certain ones at least.
We are now below that with the macd setup at the crossover point. If a meltdown is going to happen, I think it happens friday or early next week. We have had a great month so no real use in jamming things but who knows.

Similar setup to May top right here. It should happen just when everyone throws in the towel here as the meltup ensues. Watching out for an "engulphing" setup but going for a quick trade first on a few individuals and bottom fishing the others....

New 52 week highs on AAPL.

Check out FCEL. Possible high volume double bottom camel toe setup or 20% spike down. Take your pick. I am picking up a ltbh very small allocation. One of those plays that has to double to do any good or be noticed. Just wanted to make that clear!

Roundtable discussion with Lee Wheeler, Mish, Steve Northwood and Doc.

http://podcast.streetiq.com/streetiq?Chann...age=MediaViewer

Guess they liked the USA GDP numbers in Euroland.

Yep, party time. I bought VZ. Check out the chart. Just broke that downtrend. Hopefully it consolidates above 34. I am hoping for a longer term play. 3-5% risk only. Also bought RMBS for revenge but won't allow the shanking. I'll just jump it a few times....
I am adding 20% to my EWJ position as soon as I can dump puts. I am trying to offset losses by gaming a much larger position in RMBS then hacking both. I at least got a nice start in RMBS so will not take any risk beyond my entry........uggghhh...

BLDP looks good. Trend line area divergence buy....May try it later today.

On same topic, I listened to MU presentation conference call yesterday. Basically, MU said that next year will be very strong. Everyone is currently stretched very thin with no inventory on hand, which MU estimated is running 30% under what it should be. "The market is way underestimating VISTA as demand driver." For example, according to MU average computer sold in 2006 has about 750MB of DRAM , next year it'll jump to 1.3-1.5MB. The other thing that almost all miss, is that VISTA requires a lot more video memory than average current configuration that is sold. It's almost as if we're indeed back to 1995, except the market doesn't realize it yet.

MU DRAM business accounts for only 20%, so they're not going to be as big winners as SAMSUNG.

Thanks for info. This is from TXN CEO. Any opinion on this?

TI CEO: Industry Inventory Problems Not Out Of Control
http://www.amtddj.inlumen.com/bin/djstory?...0aebqLqWmdi0nZC


oh. COH up 5% pre-market! lol!

Largest volume is "Gapple" at 2%.

1396 is the .618 fib retracement of the last leg down. Wedging higher..

SNDA just tagged 18 in prehour.

"Shanda Interactive SNDA JP Morgan Underweight » Overweight "

DJ Fed Accepts $7 Bln In 2-Day RPs

Type of transaction: 2-Day RPs
Total accepted: $7 Bln
Total submitted: $36.875 Bln

Agency Collateral Operation
Total accepted: None
Total submitted: $5.3 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.28%
Low-rate submitted: 5.23%

Treasury Collateral Operation
Total accepted: $7 Bln
Total submitted: $25.975 Bln
Stop-Out Rate: 5.28%
Weighted Average: 5.28%
High-rate submitted: 5.29%
Low-rate submitted: 5.2%

Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $5.6 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 5.29%
Low-rate submitted: 5.24%

=DJ STREET MOVES:NY Fed Names Goldman's Dudley To Succeed Kos


NEW YORK (Dow Jones)--William C. Dudley, currently advisory director of
Goldman Sachs & Co. (GS) and former chief U.S. economist at the firm, has been
named to succeed Dino Kos at the Federal Reserve Bank of New York, according
to a statement Wednesday by the central bank.

Dudley will become executive vice president of the New York Fed and head of
the bank's markets group from Jan. 1, 2007. Kos announced earlier this month
that he plans to step down at the start of next year.

The Federal Reserve's open market operations are conducted by the New York
Fed's open market's trading desk and as such, the head of the bank's markets
group is directly concerned with behavior of financial markets. For example,
Kos participated in the bank's recent meeting with primary dealers over
suspected market abuses in the Treasury repurchase market.

Dudley is currently an advisory director at Goldman Sachs and editor of the
firm's global economics paper series. He is also chairman of the bank's
retirement committee, which oversees Goldman's pension fund assets.

Before 2006, he was the firm's chief U.S. economist for a decade and has
also held other positions, including responsibility for foreign exchange
forecasts.

Dudley was also an economist at the Federal Reserve Board from 1981 to 1983,
the New York Fed said.

CHK - breaking out!

Weekly - yummie!

Cell phones, TXN is not a significant producer of DRAMs.

Market seems to be losing momentum or is it just a bear suck in?

*DJ Fed's Geithner: Future Market Shocks May Be More Severe

Pretty big volume today. 5 to 1 advancers over decliners.

PigShank and Crank Reversal™

i cant believe SNDA, got a pm this am about a board member buying at 16.40. i was out yesterday at the dentist.

jpm held amaranth position less than two weeks
http://www.bloomberg.com/apps/news?pid=206...xTjE&refer=news

OMG

J-Lo

Bye-Bye bears!!

TXN is not a producer of any commodity memory types.

Well that's just peachy! What does it take to control markets now, 3 dozen guys or so, most of whom are from Golden Sacks. I looked him up, a Berkeley graduate in '82, and Rubin's assistant among other notable jobs. Shouldn't we the taxpayers get something as payment for selling the treasury and the fed to GS?

Check out T.

60 Minute CIT still up from yesterday open, nice 15 point run for Mr. Rusty based on CIT. Good place to pause ?

BLS too

Wow....

Up another 7%

oil inventory #s bullish

resilient consumer takes another 2x4 to the head

oil at 62. Watching USO for a break of 55. If it does breakout I will wait for the pullback then enter.

Bob Pissonme on CBBS talking down oil numbers, says housing might be a problem down the road.

Jr. miner buyouts seems to be on the agenda, so in solidarity with my godson who did the funnymental research, finding insider buying and big Japanese buy-in, i picked up some of this lottery ticket this morn.
dyodd

Here comes CSCO. DELL doing great! ADM and PEIX look to be headed higher.

SPX playing pinball b/w the 50hourMA and 200hourMA. Pretty similar to what we've been seeing for months.

This morning's gaporama ran straight to 1396-1397, right to the 50hourMA which has largely served as support for the rally since July, now considered s/t resistance.

Not much hope for Da Bearz so long as 1387-1389 holds, not to mention the 200hourMA now at 1383.

OTOH, bullz need to see the Spooz remount the 50hourMA at 1397 and preferably get above the Mon gap at 1401-1402.

Anything in between (1382-1402) can be considered a Pigman™ shank/crank zone where they can pinball the market with impunity without revealing their next bigger move.

Interesting macd setup


Check out JOF. That is an interesting etf. I have a small allocation here. Currently it is at 75% volume although it is a small floater...

Breakaway gap up loks to be in play.

BEAS yearnings, stegasourus pattern...

http://finance.yahoo.com/q/bc?s=BEAS&t=3m

Confirmation of breakout yesterday. HUGE volume today.

Target 25

Disclaimer: i own it at 16.40

DELL overtakes recent highs. Booyah!!

PVX takes out highs!!!!

I'm still holding them energy trusts at the bottoms. No reason to sell yet.