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http://finance.yahoo.com/intlindices

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










http://www.kitco.com

Energy futures

Currencies/Au/Ag

A bit of a mix today. All Ords -0.8% with Property Trusts leading the way down, -2.3% followed by Financials -1.7%. At the green end, IT is out in front, +1.9% and miners are next, +0.6%.

The big miners stalled: BHP +0.7% and RIO flat. Golds are looking more enthusiastic: Newcrest +1.7%, Newmont and Lihir +2.2%.

Oils not doing a lot: Woodside -0.1%, Santos +0.4% and Caltex -0.9%.

An odd sort of day with a lot of uncertainty. All Ords crashed through some recent supports to close -2.1% with IT leading the way, -3.2% followed by Consumer Staples -2.8% and Financials -2.7%. Healthcare had the least loss, -0.3%.

Big miners went into a slide: BHP -0.8% and RIO -2.6%. Golds fared better: Newcrest +0.7%, Newmont +2.2% and Lihir +1.9%. Juniors bounced from red to green and back to red.

Oils slumped: Woodside -2.1%, Santos -0.4% and Caltex -3.6%.

Asia looking bearish: Sth Korea -3.5%, Honkers -1.5%, Singers -1.2%.


Over to UK/Europe:








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

Australian Central Bank Says Rates May Need to Rise

Feb. 11 (Bloomberg) -- Australia's central bank said it will probably need to increase interest rates further to cool ``uncomfortably high'' inflation, bucking a trend by policy makers in the world's largest economies who are cutting borrowing costs.

``Absent a further shift in economic risks to the downside, monetary policy is likely to need to be tighter in the period ahead,'' the Reserve Bank of Australia said in its quarterly policy statement in Sydney today. Core inflation will remain beyond the 3 percent upper limit of the bank's target until the end of 2009.

-------------

Australian Job Advertisements Rise 1.8% to Record in January

Feb. 11 (Bloomberg) -- Australia's job-vacancy advertisements rose to a record in January, adding to signs that a labor shortage fueling wage inflation is getting worse.

Jobs advertised in newspapers and on the Internet climbed 1.8 percent from December to an average 276,969 a week, Australia & New Zealand Banking Group Ltd. said in Melbourne today. That followed a revised 4.9 percent gain the previous month. Advertisements soared 31.9 percent from a year ago.

China to Shut Factories to Cut Air Pollution Before Olympics

Feb. 9 (Bloomberg) -- China will shut coal-fired power plants, cement factories and chemical manufacturers near Beijing to reduce pollution before the Olympic Games in August.

Operators of these sites have been told they will be closed 30 days before the Olympics begin Aug. 8 in Beijing, said energy newsletter publisher Platts, citing unidentified people. Ten ``major polluters'' have already been shut and more than 15,000 old buses and taxis in both Beijing and Tianjin have been pulled off the streets, the State Environmental Protection Administration said in a statement on its Web site dated Feb. 1.

Gold strong again. Way to 935 is free now, could test it today.

GBP/USD should go to 1.9600, there is 38 fibo and EMA 200 hourly. Let it ride till that level, then go short.

Good Morning!

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get ready for the remake of the remake in 2009?


The Money Pit is a 1986 comedy feature film. It is a remake of Mr. Blandings Builds His Dream House
Through an unscrupulous real estate agent friend, Walter learns about a million dollar distress sale mansion.
From the moment Walter and Anna take possession of the house, it quickly beings to fall apart.

http://en.wikipedia.org/wiki/The_Money_Pit





Mr. Blandings Builds His Dream House is a 1948 American comedy film directed by H.C. Potter and starring Cary Grant and Myrna Loy.

http://en.wikipedia.org/wiki/Mr._Blandings...His_Dream_House

At first planning to purchase and "fix up" an existing home, they contact a real estate agent who decides they are just the sort of suckers he needs to unload "The Old Hackett Place" in fictional Lansdale County Connecticut. He purchases the property for much more than the usual going rate for land in the area - against his lawyer's recommendations.
The house turns out to be structurally unsound and has to be replaced.

edit

it was done last year...

Are We Done Yet? (2007)
http://en.wikipedia.org/wiki/Are_We_Done_Yet%3F
http://imdb.com/title/tt0422774/

Dow levels to watch for today:

12205 (is 50 fibo of 11645 to 12766)

12215 (short term downtrend)

12230 (EMA 200 on 5 mins, IMPORTANT!)

if we break thru those levels, espacially EMA 200 on 5 mins we go to:

12338 and 12357 (both fibos)

You like this for a rally? I got a gut feeling it's a sucker play.

not a rally, but i dont see resistance till 12340/60 once we break thru 12230. Thats all.

Well, there's a beautiful double bottom in the DIA with 3 and 5 day cycle indicators in accumulation patterns. The qqqq looks to be on the verge of an upside breakout from a 3 day cycle sideways down phase, but there's some ambiguity in the indicators. 43.80 is the resistance level they need to break. Conventional measuring implication would be 45.10 initially. If they fail to break out, and fall back below the 3, 5, and 8 day cycle MAs at 43.50, 43.40 and 43.22, the next shport level would be around 43. Then 2 air pockets of .50 each.

Potentially interesting action in GDX this AM, with a 3 day cycle projection of 49.50

Important updates in today's Precious Metals report in the WSE Pro.

Also, in case you missed it, I posted a housing market update over the weekend. Some very interesting stats and historical comparisons. Journey to the Center of the Earth

The Qs have broken out.

but it has hit a 5 hr cycle projection of 43.92. If the pullback doesn't hold above 43.80, could turn things bearish.

there seems to be some kind of relative strenght in the techs. But i guess this is more an technical issue because of that monster support in the NDX around 1700. Maybe it goes to 2000. Who cares.

any brits here?

your state said today, that you should have sex at least once a day. It is good for your health. Prevents heart attacks and so. Go for it!

*DJ Yahoo: Proposal Not In Best Interests Of Co., Stockholders >YHOO

*DJ Yahoo: Microsoft Proposal Substantially Undervalues Co. >MSFT

I guess management and the YHOO board were doing just a fine job for shareholders before the takeover announcement............not

*DJ Altria, Honeywell To Be Removed From DJIA >BAC MO CVX HON

*DJ Bank Of America, Chevron Will Be Added To DJIA >BAC MO CVX HON


*DJ DJIA Changes To Occur On Feb. 19 Opening >BAC MO CVX HON

then again, that may be why we don't have many Brits here...

Gold WAS strong but almost always gets smacked down into the US equity open. It was up over $7 overnight in Europe and is now negative in the spot price. Hilarious! I'm sure it will be blamed on the g7 threatening to sell their gold in April. Let me see! I'm going to sell something I own into the market. I think I will announce it 2 months in advance to make sure I get the worst possible price?Or am I trying to drive the price down and will not really sell?Gordon Brown sold a bunch of Britains gold at the exact bottom ($265) These guys are complete idiots.

spy and dia have rolled over from lower highs, failing to break the 8 day cycle MA on dia and in danger of dropping below the 3 and 5 day cycle MAs on spy. qqqq looks shaky too.

DJ Fed Accepts $8.25 Bln In Overnight RPs

Type of transaction: Overnight RPs
Total accepted: $8.25 Bln
Total submitted: $54.9 Bln

Agency Collateral Operation
Total accepted: $4.6 Bln
Total submitted: $26.8 Bln
Stop-Out Rate: 3.08%
Weighted Average: 3.11%
High-rate submitted: 3.11%
Low-rate submitted: 2.95%

Treasury Collateral Operation
Total accepted: $3.65 Bln
Total submitted: $13 Bln
Stop-Out Rate: 2.85%
Weighted Average: 2.88%
High-rate submitted: 2.9%
Low-rate submitted: 2.65%

Mortgage-Backed Collateral Operations
Total accepted: None
Total submitted: $15.1 Bln
Stop-Out Rate: N/A
Weighted Average: N/A
High-rate submitted: 3.1%
Low-rate submitted: 3.05%

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

That's a pretty big add. Seeing small signs of upward pressure on rates.

Dow is on the brink of taking out the lows with the 3 and 5 day cycle indicators on the verge of sell signals. If they both trigger this could be the BIG ONE, with a capital C.

I am short via the DXD. We'll see how that goes.

qqqq still stronger. hitting the uptrending 3 day cycle MA at 43.62. about to complete false breakout. next shport is the 5 day cycle MA at 43.49, then the 8 day at 43.29.

AIG getting smoked for 10%. Auditors found "weakness" in derivative contracts



Buying MO hand over fist
getting booted from DIA = BFD
Splitting and moving to Switzerland = BBBFD

dow shport line at 12097.

spx shport line at 1321.67

Doc,

seems like those critical Dow levels i mentioned (12215 and 12230) got hit in the pre market, or missed by 5 points or so.

quadruple bottom on the Dow. You know what they say.

Quadruple bottoms never hold.



Or as Leewhee would say. The more often shport is tested, the weaker it becomes.

3 day cycle projection on dow looks 12000ish

3 day cycle projection on spx looks around 1283

shport lines are holding.

Ouch. precious metals stock smackdown.

Mask on? oxygen tanks full?

dow edging below shport

<embed src= "http://capitalstool.com/music/dive.wav">

Some Floor trader on CNBS, all these smug people in cash are going to be surprised when they find out the cash is not safe. I don't think he will be back. but we got to be fair and balanced, or is that another network?

Bucky did his backtest of the 50ma and broken TL in the overnite.

NAR shill on CNBS.- now is a great time to buy a house.

yeah, maybe for ya dog! But hey when times come hard you can say: "Snoopy, I am Charlie Brown, you move out and I move in!"

Please tell me this isn't a pivot already.


ARRRGGGGHHHHH!!!!

Osama rally in progress, more to come with likely possibility of chaos during Democratic Convention.

Florida, whose delegates are barred from having their votes counted because the state moved its primary date, looks again as the state that will throw another "butterfly ballot" into the election process.

EUR/JPY gets it today, in da face! You know, the carry trade.

OPEX shenannigans are at full force early Monday morning!