http://finance.yahoo.com/intlindices

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










http://www.kitco.com

Energy futures

Currencies/Au/Ag

A slight greening as the dippers move in. All Ords down slightly, -0.1% with a sprinkling of sectors showing signs of life. Telecomms, Materials and Healthcare are level-pegging at +0.6% and at the other end IT is -1.4%.

Miners are being embraced: BHP +1.7%, RIO +1% and in the major golds, Newmont +1.5% with Newcrest heading the other way, -1%.

Oils aren't playing: Woodside -0.6% and Santos -1.6%.

New Zealand June Home-Building Approvals Surge 15.8%

July 30 (Bloomberg) -- New Zealand's home-building approvals posted the biggest gain in more than 18 months in June, buoyed by consents for apartments, as record-high interest rates failed to curb demand for new property.

Approvals to build new houses and apartments increased 15.8 percent from May, according to seasonally adjusted figures released by Statistics New Zealand in Wellington today. The increase was the largest since December 2005. The number of approvals was the highest since March 2005.

Apartment approvals made up more than 90 percent of the increase in approvals from May, after adjusting for seasonal factors, the statistics agency said. The apartment series can be volatile because of large developments and changes to how councils process applications, it said.

Excluding apartments, approvals rose 1.4 percent from May, the smallest increase in three months.

Housing in the US.....By Richard Jahnke, Briefing.com (at end of article)

Looks like a short term bottoming attempt in progress. All Ords managed to claw up +0.3% with many sectors moving into the green. Healthcare took the lead, +1.4% followed by Materials +1.1% and Energy closed down the most, -0.9%.

Miners certainly helped hold the market up today: BHP +2.3%, RIO +1.3%, Newmont +1% with Newcrest continuing in the red, -0.9%.

Not much change on the oils: Woodside -0.6% and Santos -2.2%.

Asia mixed: China +2.1%, Nikkers flat and Taiwan -1%.

Over to UK/Europe:







http://finance.yahoo.com/intlindices?e=europe

Damn it!!! Mark shows up on M2M and everything points up.......crap!!! OH well, just good to the the fella back for awhile and providing "some" thought, instead of what the performance metrics of the new INTEL chip will be. WAH WAH WHA

Mark has been quite accurate (I remember he called for a correction "any week now" some time ago), but he wasn't wildhog bullish last night. I thought he was quite bearish actually.
It's a pity he just makes the calls and doesn't share much of the "why's" unless his calls are totally based on the P/C ratios and rydex flows,

Pointing up? the mark its are drifting sideways at best.

That said I think we're due for at least a dead cat bounce, with the RSI near previous bounce values and the 200ma at hand.

Most european charts look even less rosy though. The Footsie and the CAC have gone under the 200, and there was no head fake like in the US, just sideways action since May, looking more like bear flags.

Mark is extraordinarily good at reading patterns. He has spent countless hours training his eye and mind to immediately identify good bottoms. He has spent just as much time staring at tops, but they are more often obscured without the use of high tech optical instruments.

But seriously folks, he's a great chart reader. I think that's where he derives his trading success, not the other stuff.

DJ China Ctrl Bank: To Raise Reserve Requirement Ratio 50 BPs


BEIJING (Dow Jones)--China said Monday it will raise banks' required
reserves by 50 basis points in a bid to curb excess liquidity and overly rapid
loan growth.

It will be the ninth time in just over a year the bank has raised the
requirement.

The reserve requirement ratio will rise 50 basis points effective Aug. 15,
the People's Bank of China said in a statement. That raises the ratio for most
banks to 11%.

anyone here think we hit dow 15k this year ?

doc when i said i was buying last weekk i was not buying the overall markit i was buying stocks that i thought had pullbacks that were good enough to to buy for a longer than 1 week holding period ... take SGR for example... i posted this one at about 37 ... it ran to 60 and i missed it but i am seeing a place to buy in this area.
i have a 100$ target based on a WAG.

im headed down to Wall street today ... LOL.

NFI at 14.40 oh my god........

whoops 1 for 4 reverse split

bloomberg.com

Cheapest Stocks in 16 Years Entice Investors (Update1)

By Lynn Thomasson and Eric Martin

July 30 (Bloomberg) -- Investors are preparing to snap up shares of telephone, health-care and computer companies after last week's $2.1 trillion global stock market rout left U.S. equities the cheapest in 16 years.

``The window for buying is starting to open,'' said D.A. Davidson & Co. chief market strategist Frederic Dickson, who oversees $23 billion. His Great Falls, Montana-based firm plans to buy drug and technology stocks as long as bond market losses don't worsen.

D.A. Davidson, LPL Financial Services and Credit Suisse Group, which manage a total of $771 billion, are bullish after the biggest decline in the Standard & Poor's 500 Index since September 2002. The benchmark for American equity is valued at 15.4 times estimated profit, the lowest since January 1991, according to data compiled by Bloomberg.

http://www.bloomberg.com/apps/news?pid=206...QlMw&refer=home

I had the same reaction with CIEN

DJ Fed Accepts $6.75 Bln In Overnight RPs

Type of transaction: Overnight RPs
Total accepted: $6.75 Bln
Total submitted: $29.9 Bln

Agency Collateral Operation
Total accepted: $1.851 Bln
Total submitted: $11.3 Bln
Stop-Out Rate: 5.29%
Weighted Average: 5.3%
High-rate submitted: 5.3%
Low-rate submitted: 5.24%

Treasury Collateral Operation
Total accepted: $4.724 Bln
Total submitted: $13.55 Bln
Stop-Out Rate: 5.17%
Weighted Average: 5.18%
High-rate submitted: 5.2%
Low-rate submitted: 5.13%

Mortgage-Backed Collateral Operations
Total accepted: $175 Mln
Total submitted: $5.05 Bln
Stop-Out Rate: 5.32%
Weighted Average: 5.32%
High-rate submitted: 5.32%
Low-rate submitted: 5.27%

(Data was provided by the New York Federal Reserve Bank).

Me. Shaw Group might be good. They get a lot of no bid contracts from the Feds but unlike Haliburton they are run by the head of the Louisiana Democratic Party so they are PC.

Is there any correlation between market tops and the number of stock splits?

When was the last time the market didn't gap up after a close at the LOD?

Black gold near inflation unadjusted ATH.

[attachmentid=86567]

Who would've thunk it?

Is the market open?

If we get a bounce at my 1448-1453 target zone, the first upside resistance isn't until 1490ish. On da chart, the 1450-1490 area is what I term a "free fly zone". It is a range which saw a very fast move up in April and now a very fast move down in July.

Chart zones like this that were free of congestion on the way up usually get retraced in similar fashion. Hence, the waterfall last week was the mirror-image of the upside ramp in April.

If the crooks hold 1448-1453, the area between there and 1490 might morph into the ever-popular "shanky-cranky" zone, a price range where the Pigsters™ can ramp or dump schlocks at will without actually having to commit to an intermediate direction. If that occurs, trading within this 3% range then becomes "for entertainment purposes only."

If 1448-1453 fails to hold, there is another minor pivot not far below at 1432ish. If 1432ish gives way, we would likely see another waterfall back to 1389, delivering the long-awaited "10% correction."

Only a move that gets back above 1490 would put the markit in position to address higher highs.

I've also been looking at the SPX sector charts. While the SPX itself has potential support not much lower, most of the sector charts are nowhere near intermediate support.

So if the SPX sectors ultimately decline back to their respective key intermediate support levels, can the SPX hold 1448-1453? No.

On the various sector charts, I see important support 8-12% lower, depending on the sector. If that occurs, the SPX would ultimately trade back to around 1315 or so.

More on this later...

Time is running out for bonerama. It looks like crooks want lower lows --fools, it'll cost them more in the long run as this ain't 2002. The time to stop it is now.

Any one got an URL or listing of all short etf's?
Thought I had one but could not find it.

Pro Funds

Just bought some QIDs for the crash.

tight stop of course

I don't know if this is a complete list, but here are the ones I have...

negative breadth

Mixed bag in credit markets today... Initially we saw some short covering after the worst rout in 5 years, but no follow-through...

Tanks and special Tanks to LeeWhee for all the great info you share.

Under other circumstances I wouldn't be shorting with the market at support and intraday indicators Dover Sole. It violates every rule in the book.

“Once fear grips a leveraged market, the so-called credit fundamentals aren’t worth the paper you print your spreadsheets on.”

http://www.bloomberg.com/apps/news?pid=206...n1A4&refer=home

If they're gonna make that 800 points by tomorrow, they gotta get moving here.

Or the bedspreads you sheet on.

Same as bad breath?

[attachmentid=86569]

A quick check of the usual girlebull suspects notes quite a different reaction to last week's carnage than we saw in Feb/Mar.

Back then, fear set in quite quickly. This time, I'm not seeing it. Seems like there's a sense of "been there, done that" and they ain't gonna fall for it like they did in March.

A lot of anger too.

Anecdotal, of course. But perhaps telling.

They need to get the Qs under 47.84. That could open the floodgates.

Anything between there and 48.44 is for "entertainment purposes only."

Where have I heard that spression before?

The fallout is spreading.
Snipets from a news report:

Germany's IKB Bailed Out After Subprime Sours
Last update: 7/30/2007 8:39:19 AM
German bank IKB was bailed out Monday by its state-owned largest shareholder after an off-balance-sheet funding vehicle was hit by exposure to U.S. subprime real-estate loans. The exposure hasn't been quantified.
The state-controlled shareholder bailing out IKB is KfW, which was set up to reconstruct German industry after World War II. KfW is 80% owned by the German national government and 20% by state governments. It loans extensively to midsize German companies.
IKB, whose full name is IKB Deutsche Industriebank AG (IKB.XE), is listed but is 38% owned by KfW. IKB also loans extensively to German midsize businesses.
The subprime exposure is in special funding vehicle named Rhineland Funding. No clear details on the exposure have been released. A statement said that it has "a large volume of structured credit investments, the majority of which carry very good ratings."
The sudden disclosure comes just 10 days after IKB released financial results that downplayed its exposure to the sector, stating that "it is worth noticing that the bulk of our investments are in portfolios of corporate loans."
IKB's chief executive has quit. IKB shares have fallen nearly 25%. IKB has also recanted its profit forecast, saying profits for 2007 will be "significantly lower" than it said on July 20.
Traders fear more, similar disclosures - especially with many funds marking their portfolio to market at the end of the month.
Still, there's no evidence yet of any domino effect in other German banks.

Analysts Debate If Bull Market Has Peaked

http://online.wsj.com/article/SB118575324077581751.html

spx 3 day cycle indicators have been on the sell side all AM. 5 day cycle indicators kinda waffley, but at low levels.

Q's on the other hand 3 day cycle indicators have been on the buy side in what looks like a swup through the after and pre markets until now. The indicators for that cycle are on the cuspidor. A break below 48 should send them to the sell side, which would be extremely bearish coming from such a weak up phase.

Jaws music plays in background.

Well, don't follow me, I'm lost. Looking at homie charts over the weekend I decided they were due for a bounce. So I sold my little 12 bagger puts on HOV and bought some front month calls on BXG and CTX. That should guarantee Doc's 800 drop by manana, no?

Yup, subprime and inflation contained! NOT!

Read an article about the 50% increase in butter prices coming this week to German supermarkets. Maybe bullz are buying it up as lubricant.

I would add that the correlations on which all those blackbox models rely for gunning the markets in recent years breakdown....

"We can't model fear, and neither can they."

Oh Contrare monfrare.



Actually, I do think the homies have 10-15% more to go from here on this leg. Vee shall see.

Good news/Bad news....which do you want first....

Good news for those long.....the number of lows on the NYSE has decreased....

Bad news is that the number of highs has decreased more....

[attachmentid=86570]

Markets don't look bouncy yet....

Hmm, looking a little bottomy here. Can they make it schtick?

Nice looking little potential bottumus in HUI too. above the 5 day cycle Ma at 343.34 maybe heading for the 8 day at 349.76. Top of the base at 356.54 is the obstacle to beat.