http://finance.yahoo.com/intlindices

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










http://www.kitco.com

Energy futures

Currencies/Au/Ag

A mild dip so far. All Ords -0.4% with only three green sectors, Energy +1.6%, Miners +1.1% and Materials +0.9%. Financials are down the most, -1.7%.

Miners looking stable but volume is low: BHP +1.2%, RIO +2.1%. Golds: Newcrest +3%, Newmont -0.6% and Lihir +1.1%. Juniors flat to up.

Oils also seeing low volume: Woodside +1%, Santos -1.4% and Caltex -2.3%.

A bit of a run into close but basically it was a quiet day. All Ords finished -0.1% with Telecomms moving into the lead, +1.8% followed by Energy +1.4% and Miners +1.1%. IT had the biggest loss, -1.7% and Consumer Discretionary was right behind, -1.6%.

Miners barely budged from the morning post: BHP +1.3% and RIO +2.2%. In the golds, Newcrest +2.2%, Newmont -0.6% and Lihir -3.2%. Juniors mixed.

In the oils, Woodside +0.9%, Santos -0.4% and Caltex +2.4%.


Over to UK/Europe:








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

Australian Banks Weathering Storm, RBA's Stevens Says

March 27 (Bloomberg) -- Australian banks are ``weathering the storm'' caused by the slump in global credit markets, remain profitable and have ``sound'' capital reserves, central bank Governor Glenn Stevens said.

``There is very little direct exposure to the U.S. subprime problems,'' Stevens said in a speech to a Euromoney conference in Sydney today.

``It's naive to think Australian banks aren't affected,'' said Brian Johnson, a banking analyst at JPMorgan Chase & Co. in Sydney. ``While they don't do big subprime lending, we remain a country of debtors in which housing borrowings are so much bigger than retail deposits.''


I heard a money man on talkback radio the other night. In the past he has been a strong advocate for moving extra money into superannuation funds (similar to US 401ks) but now he is ever-so-gently saying that it may be wise to move to cash investments due to the Funds having "undisclosed assets". Fair warning for a few pension funds blowing up in the future imo...

South African Inflation Jumps to 5-Year High of 9.4%

March 26 (Bloomberg) -- South African inflation accelerated to more than 9 percent in February for the first time in almost five years, adding to pressure on the central bank to raise interest rates.

The CPIX inflation rate, which excludes mortgage costs, rose to 9.4 percent from 8.8 percent in January, Pretoria-based Statistics South Africa said today.

Inflation accelerated last month after the government raised gasoline costs by 2.3 percent on Feb. 6. Food prices rose an annual 14.3 percent in February, compared with 13.6 percent in the previous month, the statistics office said. Transport costs climbed 13.2 percent, up from 10.6 percent in January.

What the heck happened Thurs Mar 20th in Aussieland.

oops.

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Pai gowers seem to have a better grasp of the dire economic situation than wall street.

Bloomberg is nearly 8 hours behind tonight. More clips will be posted when they become available.

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They just have to tweak the inflation numbers to get a better GDP, it's easy.

GDP price index - Q/Q change - SAAR
Consensus 2.7 %
Actual 2.4 %

Real GDP - Q/Q change - SAAR
Consensus 0.6 %
Actual 0.6 %

Crapvision reporting this morning that the grain markets have upped their margin requirements on corn and soybeans. Dennis Gartman called in and he expected massive selloff in ag commodities today to satisfy the req.

A little cash goin there, a little cash goin there, and before ya know it....

My apologies to all the gold longs. I got into a few shares of DGP, the double long gold ETF, yesterday on the break of $950.

This morning it's tanking...



I'll warn you next time....

I'm a little surprised and disappointed that stoolies were chasing this little gold rally.

C'est la vie. C'est la guerre!

The Fraudsters must be in a real tough position, but we can fix that, just change the rules.

Apparently, Tech is still very strong even though there could be some minor disappointments in some companies. CNBS had some more guys on touting the suctor. Better get in at these unbelievably low prices ...

COMEX did the same thing to silver several years ago, circa 9 bucks, as I recall. I want 'em to do it again. Maybe a big sell-off will bring more physical to market. What silver bullion can be found seems to carry a 15% premium ... used to be 7% back in the early 2000's.

That's why I stay away from futures, the "rules" can change without warning. At least with options, they can't speed up the calendar, and you can't lose more than your investment.

Margin is evil, as many are now finding out.

Sorry Doc,

I was running yesterday and got in at the end of the day and felt that the POG hadn't really kept pace w/ the damage in the drooler. When it broke through 950 it looked like it had upside to $1000 again so I took a small first time position in the double long ETF. Didn't get a chance to look at your PM report.

------


Market just opened, the futures were jammed up and it looked like there was to be a big opening jump. The bell rang and we're flat.




Should be an interesting day.

Well, I could definitely be wrong about gold. Just hate to see losses. If 900 + holds, you know the rest.

3 day cycle indicators on the cusp of buy signals. indexes up tick to 5 day cycle MAs 12475, 1346, 44.47. If they get through should go up from there. Otherwise breakdown.

Correction on that market opening report. The Spooz and Dog are flat to up, the tech heavy Nadsaq is an even better bargain since it's down 13 to 18 points.

Hmmm ... Drano's not here yet. I wanted to ask him if he was the Buyer of the 20K Contracts of Qs Apr 41 Putz

Probably just a small hedge on the position...

#@%* Got booted off Schwab right as I was about to enter an order.

It was for a slightly smaller position than the one you mention though.

I am selling this rally

C'est l'amour vache

So I guess LEN's horrific earnings news (revenues down 62%) are a plus for the homebuilders, because they think it can't get worse or something?

Right on the edge of the precipice here. And I have to go record a podcast. Outta sight. Outta mind. See you later!

I'm still boggled how europe can still be green !?

Maybe the ECB is injecting money to calm ST money markets. Of course we know Banksters will feed that directly into the shlock market.

Doc always misses the Big Dives

great job title......


*DJ Lehman Names Bourgeois Co-Head, Global Institutional Distribution

Market burdened by the huge drain and Treasury supply? When do we get to hear the huge sucking sound later?

Yeah, but doesn't the fact that he mentioned the possibility counteract that?

DOW 100,000 ! ! ! !

Fuchtia watch

"Spiders - June S&P E-mini Futures: Support is now at 1310. We shall probably see at 1380 print before another 50-60 point break occurs. The market should rally into the 1430-50 range over the next couple of months."

Pictured: fuchsia, hangin' in the breeze

LEH cds now wider by 25-50 bps and there is heavy put buying. Where there is smoke...

Well it's still green, but this kind of disparity usually results in US being right and Euro getting shanked.

Oz followed everyone else, as usual. Also it was an early close, pre-Easter.

Oh man, don't tell me C&C are back?



Helo Ben must be wetting his pants fearing a bailout redux.

The fustigated futia felt his fuchsia behind while donging the fraudexes.

That is the way the CNBSers are spinning it.

Thanks.

Da boyz will the stagecoach are standing by -- ready, willing and eager to bayonet the wounded.
Marketslop

When the stock gets run down to zero it won't get any worse.

Maybe LEN is planning to announce a new initiative to build warehouses in the desert.

This may be a dumb question, but do QQQQ March options actually expire today as opposed to the third Friday of the month like other options?

http://finance.yahoo.com/q/op?s=QQQQ

That's cow love?

The Fraudsters have a lot of shares to unload on the pulic before that happens.

These guys don't look like they're feelin' the love.

Do you mean "McWarehouses" on a beautiful large lot landscaped in a traditional southwestern motif?