STOCK MARKET WATCH, Thursday October 25

Source: du

STOCK MARKET WATCH, Thursday October 25, 2007

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 453 LONG DAYS
DAYS SINCE DEMOCRACY DIED (12/12/00) 2476 DAYS
WHERE'S OSAMA BIN-LADEN? 2196 DAYS
DAYS SINCE ENRON COLLAPSE = 2157
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 10
Enron execs conveniently deceased = 3
Other Arrests of Execs = 54

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U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES

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AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24
Nasdaq - 2,757.91
S&P 500 - 1,342.90
Oil - $27.69/bbl
Gold - $266.70/oz.

AT THE CLOSING BELL ON October 24, 2007

Dow... 13,675.25 -0.98 (-0.01%)
Nasdaq... 2,774.76 -24.50 (-0.88%)
S&P 500... 1,515.88 -3.71 (-0.24%)
Gold future... 765.60 +2.50 (+0.33%)
30-Year Bond 4.64% -0.05 (-1.09%)
10-Yr Bond... 4.33% -0.07 (-1.68%)






GOLD, EURO, YEN, Loonie and Silver

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PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact actionpost@legitgov.org

For information on protests and other actions Citizens For Legitimate Government

---

Read more: du

HANK'S HOUSE OF HORRORS
BY ROB KIRBY

U.S. Treasury Secretary Hank Paulson recently proposed the establishment of a $75bn-plus ‘superfund’ to buy unwanted asset backed commercial paper in hopes of accelerating the return of ‘liquidity’ to the marketplace.

Mr. Paulson’s proposal has been endorsed by financial market heavy-weights J.P. Morgan Chase, Citibank and Bank of America.

I’d like to examine how we got here in the first place.

As evidenced in the charts of U.S. money supply growth below, Central Banks around the world have been creating money at a blistering pace for better than 10 years:

-chart-

Folks should understand that the act of printing new money dilutes the existing monetary stock.

When monetary authorities who are responsible for the world’s reserve currency (the Federal Reserve) undertake such action – the results are unpleasant and ruinous but predictable.

Actions like this undermine global confidence or willingness to hold the currency being debased.

-cut-

n very simple terms – all money created or loaned into existence, IS spent on something.

In response; during the 1990s we witnessed the rise in price of equities in general and technology stocks in particular.

Rising interest rates in or about the year 2000 served to ‘prick’ the bubble in tech stocks but, as we can clearly see in the charts above, money creation continued unabated.

Next up was real estate.

http://www.financialsense.com/Market/wrapup.htm

8:30 AM Durable Orders Sep
Briefing Forecast 2.0%
Market Expects 1.5%
Prior -4.9%

8:30 AM Initial Claims 10/20
Briefing Forecast 320K
Market Expects 320K
Prior 337K

10:00 AM Existing Home Sales Sep
Briefing Forecast NA
Market Expects NA
Prior 5.50M

10:00 AM New Home Sales Sep
Briefing Forecast 780K
Market Expects 775K
Prior 795K

http://biz.yahoo.com/c/e.html

14. U.S. continuing jobless claims up 7,000 to 2.53 mln
8:30 AM ET, Oct 25, 2007 - 11 minutes ago

15. U.S. 4-week avg. jobless claims highest since Sept. 1
8:30 AM ET, Oct 25, 2007 - 11 minutes ago

16. U.S. Sept. durable goods inventories up 0.4%
8:30 AM ET, Oct 25, 2007 - 11 minutes ago

17. U.S. 4-week avg. jobless claims up 7,750 to 324,750
8:30 AM ET, Oct 25, 2007 - 11 minutes ago

18. U.S. Sept. defense goods orders fall 39%
8:30 AM ET, Oct 25, 2007 - 11 minutes ago

19. U.S. weekly jobless claims down 8,000 to 331,000
8:30 AM ET, Oct 25, 2007 - 11 minutes ago

20. U.S. Sept. durable-goods shipments fall 2%
8:30 AM ET, Oct 25, 2007 - 11 minutes ago

21. U.S. Sept. core capital equipment orders up 0.4%
8:30 AM ET, Oct 25, 2007 - 13 minutes ago

22. U.S. Sept. durable goods orders ex-transportation up 0.3%
8:30 AM ET, Oct 25, 2007 - 13 minutes ago

23. U.S. Sept. durable orders fall 1.7% vs. 1.1% gain expected
8:30 AM ET, Oct 25, 2007 - 13 minutes ago

(edited to fix the initial claims number in my title line)

I hear Merril Lynch has got some horrifying numbers and Dow too. I think the masses may be in for a bit of a shock soon, when the real reckoning begins.

Julie

01. U.S. Aug. new-home sales revised to 735,000 vs. 795,000
10:00 AM ET, Oct 25, 2007 - 2 minutes ago

02. U.S. Sept. median sales price up 5% in past year
10:00 AM ET, Oct 25, 2007 - 2 minutes ago

03. U.S. Sept. new-home inventory 8.3 months vs. 9 months
10:00 AM ET, Oct 25, 2007 - 2 minutes ago

04. U.S. new-home sales rise 4.8% after big downward revisions
10:00 AM ET, Oct 25, 2007 - 2 minutes ago

05. U.S. Sept. new-home sales 770,000 vs. 758,000 expected
10:00 AM ET, Oct 25, 2007 - 2 minutes ago

Why the big revision for August and the weird huge number for September? What will September's revision be?

stay tuned for more lies from our government....

BANGKOK, Thailand - Oil futures rose Thursday in Asia, extending a price increase that came after figures showed large and unexpected declines in U.S. crude and gasoline inventories last week.

Light, sweet crude for December delivery rose $1.08 to $88.18 a barrel in electronic trading on the New York Mercantile Exchange by late afternoon in Singapore. The contract jumped $1.83 to $87.10 a barrel in the Nymex floor session after the fuel report.

Crude supplies fell last week 5.3 million barrels, the U.S. Energy Department's Energy Information Administration said. Analysts surveyed by Dow Jones Newswires, on average, had been expecting supplies to increase 300,000 barrels.

-cut-

Much of the decline in crude supplies was due to a sharp drop in imports, analysts said. Daily imports of crude oil fell last week 1.3 million barrels to an average of 9.1 million barrels a day, the EIA said.

Supplies of gasoline and heating oil also fell last week. Gasoline inventories dropped by 2 million barrels, countering analyst expectations for an increase of 1.1 million barrels.

Gasoline imports also fell last week, and average daily demand for gasoline rose 120,000 barrels, the EIA said, further supporting prices.

http://news.yahoo.com/s/ap/oil_prices

CHARLOTTE, N.C. - After a tough third quarter, Bank of America Corp. has become the latest bank to slash jobs due to poor results brought on by the unrest in global credit markets.

The nation's second-largest bank said Wednesday that it is cutting 3,000 positions in its investment banking unit, a day after crosstown rival Wachovia Corp. starting eliminating several hundred positions for the same reasons.

Bank of America's announcement came less than a week after it reported a 32 percent drop in third-quarter earnings, as trading losses and write-downs on a wide variety of loans offset solid revenue growth in most businesses.

The cuts will affect less than 2 percent of the company's staff. Most of them will be from Bank of America's Global Corporate and Investment Banking unit, the company said.

http://news.yahoo.com/s/ap/20071025/ap_on_bi_ge/bank_of_america_job_cuts

STERLING HEIGHTS, Mich. - The United Auto Workers and Chrysler LLC got a big boost from some Detroit-area plants that voted in favor of a new labor contract, but the road to ratification is still a bumpy one with thousands more workers scheduled to cast ballots in the next few days.

Much is now riding on votes set for Friday and Saturday in Belvidere, Ill., where 3,815 Chrysler hourly workers are employed at an assembly plant and a metal stamping plant. Belvidere is the last major complex where workers will be voting.

-cut-

Workers at Local 1700 approved the contract by just over 65 percent, President Bill Parker said, despite Parker's vocal opposition. Parker didn't say how many workers had voted. Local 1700 represents 2,500 workers who make the Chrysler Sebring and Dodge Avenger midsize cars at the Sterling Heights assembly plant.

http://news.yahoo.com/s/ap/20071025/ap_on_bi_ge/auto_talks

BEIJING - China's supercharged economy grew by a stunning 11.5 percent in the third quarter, slowing slightly amid authorities' efforts to avert overheating but staying on track to overtake Germany as the world's third-largest within weeks, according to data reported Thursday.

Growth beat economists' forecasts but was below the 11.9 percent rate the previous quarter. The government said its repeated rate hikes and other controls were finally taking effect.

"Due to macro-economic controls, we have turned the economy from being an overheating one to being one of speedy growth," said a spokesman for the National Bureau of Statistics, Li Xiaochao, at a news conference to announce growth figures.

The communist government wants to maintain fast growth to ease poverty but worries that runaway expansion or overspending on factories and other assets could ignite a financial crisis. Beijing has raised interest rates five times this year to curb double-digit investment growth, and analysts expect another rate hike later in the year.

The latest figures suggest China's growth surge has peaked, economists said. They said they expect the expansion to slow further while staying above an annual rate of 10 percent next year.

http://news.yahoo.com/s/ap/20071025/ap_on_bi_ge/china_economy

http://news.yahoo.com/s/ft/20071025/bs_ft/fto102520070621520290;_ylt=AhJYa_2l8eV1R6NohJ5dPl72ULEF

Chinese shares fell by nearly 5 per cent on Thursday on concerns about further interest rate rises and the launch of a potentially record-breaking initial public offering by PetroChina (NYSE:PTR).

The Shanghai composite index dropped 4.8 per cent to 5,562 points, the biggest one day drop since July, and has now fallen 9 per cent from the record high it reached last week.

However, Chinese share prices are still up 90 per cent since the start of the year and few analysts on the mainland believe that the downward movement of the last week is the start of a prolonged bear trend.

"It is true that there are no longer any stocks that are significantly undervalued now," said Li Xianming, analyst at Ping An Securities in Shenzhen. "Nevertheless, the two key fundamentals for a bull market still exist - the appreciation of the renminbi and corporate earning growth. This is not a turning point for the market."

The announcement on Thursday that the Chinese economy is continuing to surge ahead at a rapid rate, growing 11.5 per cent in the third quarter against 11.9 per cent in the second quarter, prompted speculation that the government will take further measures to try and cool economic activity.

/...

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20071025:MTFH23182_2007-10-25_10-16-52_HKG171995&type=comktNews&rpc=44

HONG KONG, Oct 25 (Reuters) - Monetary conditions in China and a slowing U.S. economy pose risks to investors which are not being reflected in bullish financial markets, especially in Hong Kong, the head of Hong Kong's central bank said on Thursday.

Joseph Yam, chief executive of the Hong Kong Monetary Authority (HKMA), said rising interest rates in China, aimed at restraining inflation, are boosting capital inflows and raising concerns about a possible stock market bubble.

"It is not clear how this scenario might develop," Yam wrote in a weekly column on the HKMA's Web site www.info.gov.hk/hkma/eng.

"The inevitable market adjustment, if sharp and destabilising, would have serious implications for monetary and financial stability, not just for the mainland but also for others, including of course Hong Kong."

China and the United States are Hong Kong's two biggest trading partners, but Yam said the risks they posed were not reflected in the local stock market -- which has rallied nearly 50 percent this year.

/...

http://yahoo.reuters.com/news/articlebusiness.aspx?type=ousiv&storyid=2007-10-25T060312Z_01_SHA69120_RTRUKOC_0_US-CHINA-STOCKS-BULL.xml&WTmodLoc=BizArt-R3-Insights-1&from=business

SHANGHAI (Reuters) - Former U.S. central banker Alan Greenspan has predicted a "dramatic contraction". France's securities regulator warned of a "brutal" pull-back. Even billionaire investor Warren Buffett says the market is too rich for him.

But almost two years into one of history's greatest bull runs, China's roaring stock market continues to defy forecasts of disaster by the financial world's leading lights.

With Shanghai's main index up five-fold since the start of 2006, and stock valuations sky-high, local fund managers and analysts agree the market will slow in coming months.

But they think there's still plenty of money to be made from stocks over the next year -- and that predictions of a crash of 20 or 30 percent are way off the mark.

"Pressure on the market has increased a lot so its rise will slow," says analyst Qian Qimin at Shenyin & Wangguo Securities, one of the biggest Chinese brokerages.

"But the market isn't reversing -- and a collapse just isn't going to happen."

Foreign investors hold under 2 percent of Chinese shares, so local players such as Shenyin & Wangguo -- as well as the Chinese government -- may have the last word. Continued...

/...

DETROIT (Reuters) - Ford Motor Co and the United Auto Workers union have agreed on the broad terms of a new round of buyouts that would slash thousands of jobs under the terms of a new contract, people familiar with the ongoing talks said.

Contract negotiations between Ford and the UAW have been moving slowly after the union extended its previous contract at the No. 2 U.S. automaker so it could focus on wrapping up labor deals with General Motors Corp and Chrysler LLC.

-cut-

Ford, widely seen as the weakest of the three embattled U.S. automakers, has already made it clear it will push for deeper concessions from the union than those offered General Motors Corp or Chrysler, a position negotiators made clear in early talks, according to two people briefed on the talks.

In addition, Ford has indicated it was looking for about 8,000 to 10,000 additional factory job cuts, one of those briefed on the negotiations said. That would be in addition to the 27,000 UAW jobs Ford had cut as of June.

-cut-

An additional 10,000 job cuts would mean Ford would have cut some 45 percent of its factory jobs as part of a turnaround plan in response to a protracted decline in its U.S. sales.

http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=OBR&Date=20071024&ID=7691004

http://www.forbes.com/feeds/ap/2007/10/25/ap4260230.html

DAEGU, South Korea -

American billionaire investor Warren Buffett said Thursday that problems in the U.S. subprime mortgage market will likely weigh on consumers for up to two years, but that the U.S. economy will weather the storm.

The subprime problem "is having an impact," Buffett said on his first visit to South Korea. "It will have more of an impact."

Rising default rates among U.S. mortgage holders with poor credit histories have rattled global credit, stock and currency markets since August and raised concerns about a possible recession in the U.S. economy, a major export market for Asian companies.

"In the next 6 months, one year, two years the problems in the mortgage market can cause a lot of problems with consumers and hurt buying power in the United States," he said at a press conference after arriving earlier in the day from China on his private jet.

NEW YORK (CNNMoney.com) -- The battered markets for real estate and home building still have farther to fall, according to a range of economists who spoke Wednesday at a forecast conference sponsored by the National Association of Home Builders.

The economists agreed that the problems with home finance markets will continue to hit housing into next year, and that even when there is a recovery, it will be a slow process that will see weakness continue into 2009.

While most said they believed the overall U.S. economy can weather the housing downturn, several saw significant risk of a recession. Mark Zandi, chief economist of Moody's Economy.com, said that large areas of the country will fall into recession, if they haven't done so already.

The economists also admitted to being surprised by how bad the housing downturn has become, and all said that making forecasts of a recovery is difficult due to the problems in the credit markets.

-cut-

Thomas Lawler, a former Fannie Mae official who is now a private housing and finance consultant, said the easy financing terms of the boom years have been replaced by an overly restrictive lending environment. But even when underwriting standards return to more normal conditions, it won't be enough to lift demand and prices back to peak levels, he added.

http://money.cnn.com/2007/10/24/news/economy/builders_forecast/index.htm?postversion=2007102414

NEW YORK (CNNMoney.com) -- A bill representing the "mother of all tax reforms" is set to be revealed Thursday, according to House Ways and Means Chairman Charles Rangel (D-NY).

But Mother is going to have to be patient. No one expects Congress to deal with a tax overhaul this year - especially one estimated to cost $1 trillion.

-cut-

But with any "revenue-neutral" bill, there's no free lunch. The tax cuts proposed must be paid for by provisions that raise revenue. In Rangel's bill, there are likely to be welcome tax cuts for both individual and corporate taxpayers, but just as many unwelcome tax hikes for some.

Here are some expected highlights:

AMT repeal: The premier feature of Rangel's bill is expected to be a full repeal of the Alternative Minimum Tax (AMT), estimated to cost more than $800 billion.

More generous tax credits for lower-income taxpayers: Rangel's bill is expected to call for a higher earned income tax credit for low-income couples without children and would make more of the child tax credit refundable. When a credit is refundable, that means taxpayers claiming it could get money back even if they don't make enough money to owe income tax.

Lower corporate tax rate: The bill is likely to call for a reduction in the top corporate income tax rate from 35 percent to as low as 30 percent.

Eliminate various corporate tax breaks: The complexity of the corporate tax code is almost without measure, in part due to the myriad tax deductions and credits that often favor some industries or products over others. Policy experts expect Rangel's bill will call for the elimination of a host of those tax breaks.

http://money.cnn.com/2007/10/24/pf/taxes/rangel_tax_reform_preview/index.htm?postversion=2007102506

06:23 am : S&P futures vs fair value: -0.9. Nasdaq futures vs fair value: +4.6.

:donut: :donut: :donut:

It's time for me to get outta here. My students need some attention.

Have a great day!

Ozy :hi:

Will have to wait for tomorrows lesson

:donut: and lurkers. And the car saga continues. Hubby will be talking to a lawyer today. He contacted the witness and he said he will be willing to testify if needed. Hubby will be in his cast for at least 6-8 weeks. We looked at his calendar and he has 6 shows (at least) have to be canceled (2 are weddings :( ). He works 1 day a week as a sub and he had to cancel today for therapy and meeting an attorney and he may be missing others unless he can get afternoon appointments. He is still ok with his lessons (which are in the evening), a few things are problematic, but it is ok. It is a pretty open and shut case-we just don't want to get dicked around by the insurance company.

I was watching the markets yesterday when it 'rallied'. Seems like pinning you hopes on a potential rate cut is a poor foundation for a rally. I think the FED is getting painted in a corner and eventually business needs to suck it up and take their medicine. To postpone it will only make it worse.

Happy hunting and watch out for the bears.

it will take us a while to get righted, but we will eventually. We've been in worse positions.

Just talked to the vet.

They've done diuresis with a full litre of fluid which is a lot for a cat and the fact the enzyme levels didn't drop that much is a sign of "end stage" kidney failure. He said it's likely at least 2/3 of her kidney is now hard tissue. It's also likely we're talking weeks...maybe months for Lucky. ..............

.....


So.....

As for what to do now....

Lucky will be on a special diet. A moist version of "k/d Feline" and sometimes sprinkling a powder over it that adds better flavoring and contains electrolytes to give her more energy. This moist food will get more fluids in her diet to help keep the rest of the kidney from turning to hard tissue. I'll also be taking her up to the vet for sub-cutaneous fluid injections about every two weeks to aid with diuresis, too.

But, it's just a matter of time now...and I'll be keeping an eye on her for deterioration again. It could happen right away or she could surprise us go a long time but the main thing is to just make sure she's comfortable. And to start preparing for .... well....you know. :-(

We never know how long our time on Earth will be. She may have problems and go suddenly or she may be able to live for a while. If you love her as much as I am sure you do...Lucky will let you know.

Enjoy these bonus days and count them as a blessing. Be sure to have a nice picture taken and some snapshots-they will give you lots of comfort when she is no longer with you. It can be a good learning experience for your children.

In my lifetime I have lost our special friends many way. And of all those ways-putting them down is the most gentle. I and my daughter have arranged a time and held our friends as they pass. The Vet's staff has always understood an gave us as much time as we need to say our goodbyes. We have made the appointment toward the end of the day. The vets can make arrangement (cremation, etc). You have the luxury of time to decide what is best for you.

I wish Lucky the best. She really is lucky to be a member of your family.

:hug:

Good Morning:donut:

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

Last trade 77.165 Change -0.351 (-0.45%)

US Dollar Tumbles As Futures Start To Price In A 50bp Cut

http://www.dailyfx.com/story/bio1/US_Dollar_Tumbles_As_Futures_1193264019853.html

After a choppy afternoon of trading, the US dollar finished the day very little changed despite the release of extremely gloomy housing data. Existing home sales plummeted 8.0 percent to 5.04 million during the month of September - the lowest reading since the National Association of Realtors started keeping records in 1999. Single family home sales fared the worst, as they declined 8.6 percent from the month prior, while condo/coop sales fell 4.3 percent as tighter lending standards and higher mortgage rates make it more difficult to get financing. Meanwhile, supply levels rocketed to 10.5 months while the median price on total existing home sales dropped to $211,700 from $224,400. With inventory levels growing and demand clearly waning, it appears that prices will continue to fall much lower. While the greenback didn’t necessarily take the news to heart, fixed income traders apparently did as Fed fund futures now price in an 86 percent chance of a 25 basis point cut on October 31st. Though this is slightly lower than yesterday, futures are also starting to price in a 14 percent chance of a 50 basis point cut at the end of the month as it becomes clear just how dire the housing situation has become, especially in regards to its detrimental effects on the US economy. The New Home Sales release on Thursday will likely reinforce that sentiment, as the index is predicted to plummet 3.1 percent to 770K. However, dismal news from the hosuing sector will not be entirely surprising to the markets and as a result, traders may focus more on the Durable Goods Orders release instead. The headline figure is predicted to improve 1.5 percent and will likely be buoyed by the transportation component, as Boeing reported that orders picked up to 132 in September from 75 during the month prior. Excluding this factor, durable goods orders may only rise a more tepid 0.7 percent, but any surprisingly strong figures could prove beneficial for the Dow, while the US Dollar may continue to be plagued by Fed rate cut speculation.

...more...

How Vulnerable Is The Dollar To Another Credit Crunch?

http://www.dailyfx.com/story/topheadline/How_Vulnerable_Is_The_Dollar_1193313903320.html

It has been little more than two months since global markets were roiled by a collapse in the US subprime debt market prompting emergency liquidity infusions from the world’s largest central banks. Nevertheless, much of the losses from the massive flight from risk have been virtually erased. Does this hearty return of risk appetite suggest that the worst of the credit crunch is behind us? Or, could we experience another, perhaps more painful period of contraction?

A Tumultuous Summer

It has been little more than two months since global markets were roiled by a collapse in the US subprime debt market prompting emergency liquidity infusions from the world’s largest central banks. Nevertheless, much of the losses from the massive flight from risk have been virtually erased. Does this hearty return of risk appetite suggest that the worst of the credit crunch is behind us? Or, could we experience another, perhaps more painful period of contraction? What will happen to the dollar, already at record lows and still vulnerable to further Fed rate cuts? To better understand what is at risk, it is important to recount the fallout from July and August, review what steps were taken to buttress the markets and analyze what risks still loom on the horizon.

The turn in global markets happened innocuously enough in mid-July. Though the equity, debt and FX markets were ominously correcting at the same time; their initial losses were modest. The gradual change in global investor sentiment through the summer began in the US as fears that the subprime mortgage sector was on the verge of collapse were suddenly realized. The first major casualty of a rise in subprime defaults was Bear Stearns’ High-Grade Structured Credit and High-Grade Structured Credit Enhanced Leveraged Funds. However, it wasn’t until hedge funds and banks outside the US borders reported losses from investments related to American mortgage backed securities that panic peaked. And, when the fuse of fear was lit, concern spread rapidly to all assets that were considered risky or otherwise overbought. In the currency market, the carry trade suffered extreme volatility and massive drawdowns. To grasp the change in market conditions, volatility in USDJPY (one of the most liquid carry trades) surged from an all-time low to a five year high in a matter of weeks. In terms of price action, the top yielding carry trades saw substantial declines: NZDJPY plunged 24 percent; AUDJPY sank 20.1 percent; EURJPY dropped 11.6 percent and USDJPY fell 10.1 percent. Equities saw similar extremes. The VIX volatility index jumped from 13 year lows to its highest level since the dot com bubble burst. In the fray, the Dow lost 10.7 percent. Proving the markets are truly global, the Nikkei dropped 16.6 percent and the FTSE 100 fell 13.8 percent in sympathy.

...more...

and even he doesn't stay on WS:eyes:

Dow 13,651.35 23.90 (0.17%)
Nasdaq 2,766.47 8.29 (0.30%)
S&P 500 1,512.55 3.33 (0.22%)
10-Yr Bond 4.341% 0.01

NYSE Volume 188,836,406.25
Nasdaq Volume 187,600,921.875

I found an interesting site that might be worth checking out. It looks good but may be worth checking out.

http://www.investorsguidewiki.com/wiki/Main_Page

I would love feedback, but it looks good.

http://www.investorsguidewiki.com/wiki/The_Curious_Phenomena_of_Self-Regulation



emphasis mine

:hi:

I am such an optimist now :eyes:......

that was the first section I read :P

Dow 13,703.05 27.80 (0.20%)
Nasdaq 2,779.32 4.56 (0.16%)
S&P 500 1,519.14 3.26 (0.22%)
10-Yr Bond 4.335% 0.004

NYSE Volume 594,915,937.5
Nasdaq Volume 461,138,468.75

10:05 am : Just reported, September new home sales came in at an annualized rate of 770k, which is up from August's revised reading of 735k. This is less than the consensus estimate that expected an annualized rate of 775k.

The conumer discretionary (-0.9%) and industrial (-0.9%) sectors are the main laggards. Utilites (+0.7%) and consumer staples (+0.2%) are the only sectors in postive territory.DJ30 -25.20 NASDAQ -12.47 SP500 -3.53

09:45 am : The market opened flat following dissapointing economic reports and mixed earnings results, but then quickly slipped into the red.

Better than expected results and guidance from the likes of Motorola (MOT), Aetna (AET) and EMC (EMC) has helped offset disappointing results from Symantec (SYMC) and Dow Chemicals (Dow).

On the economic front, durable orders for September, a leading indicator of manufacturing activity, dropped 1.7%. A rise of 1.5% was expected. Meanwhile initial jobless claims for the week ended 10/20 dropped to 331k, which is 6k less than the previous week. Economists expected the jobless claim reading to come in at 320k.

Looking ahead, The Department of Commerce is set to release September new home sales at 10:00 ET. Briefing.com expects new home sales to drop to an annualized rate of 780k. DJ30 -21.78 NASDAQ -7.73 SP500 -2.77

Crimson And Clover
Tommy James and the Shondells
(T. James/P. Lucia)

Ah, now I don't hardly know her
But I think I could love her
Crimson and clover

Ah when she comes walking over
Now I've been waitin' to show her
Crimson and clover over and over

Yeah, my, my such a sweet thing
I wanna do everything
What a beautiful feeling
Crimson and clover over and over

Crimson and clover over and over
Crimson and clover over and over
Crimson and clover over and over
Crimson and clover over and over

you know - where last month's numbers were revised downward by 60,000 and this month's numbers were 10,000 under the projection?

looks to me like those number are getting worse, not better :shrug:

about being painted in a corner. You might be able to lie about the numbers ever other month or so, and you might even be able to re adjust when no one is looking............

BUT one day you look up and almost 1/2 of the houses on your street have a for sale sign in the yard and it is the same on every street you travel on. It is starting to look bad and even here in Houston where the Houston Area Realtors say thing are good (?) we are loosing $540 million due to the RE Bust this year according to ACORN.

Dow 13,699.64 24.39 (0.18%)
Nasdaq 2,774.73 0.03 (0.00%)
S&P 500 1,518.84 2.96 (0.20%)
10-Yr Bond 4.362% 0.031

NYSE Volume 1,019,572,062.5
Nasdaq Volume 805,089,062.5

10:30 am : The stock market has enjoyed a healthy bounce following the release of the Spetember new home sales report.

The response, frankly, is questionable considering the level of new home sales for the month on an annualized basis (770K) was only in line with the consensus estimate. Additionally, the headline indicating 4.8% growth from the prior month only looks encouraging on the surface. In fact, the growth reported is due to the August new home sales data being revised down 7.6% to an annualized rate of 735K.

In any event, traders took the seemingly encouraging headline and ran with it.
DJ30 +44.55 NASDAQ +4.41 SP500 +4.36 NASDAQ Dec/Adv/Vol 1177/1430/515 mln NYSE Dec/Adv/Vol 1349/1541/212 mln

emphasis mine

:o

:rofl:

Dow 13,647.86 27.39 (0.20%)
Nasdaq 2,745.07 29.69 (1.07%)
S&P 500 1,510.95 4.93 (0.33%)
10-Yr Bond 4.356% 0.025

NYSE Volume 1,536,838,375
Nasdaq Volume 1,172,530,250

11:30 am : The stock market has been choppy since the release of the new home sales report. Currently, the Nasdaq is in negative territory, while the S&P and Dow holding near the unchanged mark.

In commodities, crude oil futures continues to gain, and are currently up 1.8% to $88.70. Gold is up 0.7% to $771.00 DJ30 +0.41 NASDAQ -7.47 SP500 +0.79 NASDAQ Dec/Adv/Vol 1282/1473/947 mln NYSE Dec/Adv/Vol 1339/1713/443 mln

11:00 am : The stock market has slipped off its housing data induced highs. Despite the dip, the indices are still well above their session lows that were reached just just prior to the data release.

In other news, Bank of America (BAC 47.53, +0.05) stated that it is going to eliminate 3,000 positions in a restructuring move that will also include a strategic review of its Global Corporate and Investment Banking business following its woeful performance in the third quarter. The cuts will affect less than 2% of the firm's 198,000 employees. Punk Ziegel notes that the cutbacks may be a mistake. DJ30 +33.33 NASDAQ +1.51 SP500 +4.25 NASDAQ Dec/Adv/Vol 1197/1501/773 mln NYSE Dec/Adv/Vol 1206/1768/347 mln

:wtf: Who is "Punk Ziegel" and why should anyone care what he/she/it thinks?

:D

Description :
Punk, Ziegel & Company is a specialty investment bank which provides a full range of research, equity market making and corporate finance services centered around high growth sectors within the health care technology and biotechnology industries. The investment bank is setting up a nano stock index and is particularly interested in the area.

From: http://www.nanovip.com/node/397

Highlights

Current:



30-day and 90-day vs.greenback:



30-day vs. Euro, Yen, UK Pound and Swiss Franc




Currency Comparison: http://members.shaw.ca/trogl/looniewatch.html

Detailed analysis: http://quotes.ino.com/exchanges/?r=CME_CD

Up-to-the-minute graph: http://quotes.ino.com/chart/?s=CME_CD.Y%24%24&v=s&w=5&t=l&a=1

Historical values http://www.x-rates.com/d/USD/CAD/data30.html

2007-09-24 Monday, September 24 0.998901 USD
2007-09-25 Tuesday, September 25 0.9995 USD
2007-09-26 Wednesday, September 26 0.99552 USD
2007-09-27 Thursday, September 27 0.99691 USD
2007-09-28 Friday, September 28 1.00412 USD
2007-10-01 Monday, October 1 1.00715 USD
2007-10-02 Tuesday, October 2 0.9998 USD
2007-10-03 Wednesday, October 3 1.00392 USD
2007-10-04 Thursday, October 4 1.002 USD
2007-10-05 Friday, October 5 1.01885 USD
2007-10-08 Monday, October 8 1.01885 USD
2007-10-09 Tuesday, October 9 1.01564 USD
2007-10-10 Wednesday, October 10 1.01906 USD
2007-10-11 Thursday, October 11 1.02627 USD
2007-10-12 Friday, October 12 1.02701 USD
2007-10-15 Monday, October 15 1.02501 USD
2007-10-16 Tuesday, October 16 1.0227 USD
2007-10-17 Wednesday, October 17 1.02712 USD
2007-10-18 Thursday, October 18 1.02743 USD
2007-10-19 Friday, October 19 1.03767 USD
2007-10-22 Monday, October 22 1.01926 USD
2007-10-23 Tuesday, October 23 1.03381 USD
2007-10-24 Wednesday, October 24 1.02987 USD

Current values

http://quotes.ino.com/exchanges/?r=CME_CD)

Market         Open   High    Low   Last  Change    Pct 
CD.Y$$ Cash     1.0378 1.0394 1.0342 1.0342 +0.0035 +0.34%  
CD.Z07 Dec 2007 1.0385 1.0404 1.0325 1.0345 +0.0038 +0.37% 
CD.H08 Mar 2008 1.0340 1.0347 1.0335 1.0347 +0.0042 +0.41% 
CD.M08 Jun 2008 1.0283 1.0283 1.0247 1.0303 -0.0041 -0.40% 
CD.U08 Sep 2008 1.0300 1.0302 1.0300 1.0299 -0.0041 -0.40% 
CD.Z08 Dec 2008 1.0300        1.0300 1.0290 -0.0041 -0.40% 
CD.H09 Mar 2009 1.0055 1.0060 1.0050 1.0281 -0.0041 -0.40% 
 

Other combinations:

AU.Z07 AUSTRALIAN $/US$ Dec (NYBOT)          0.89630 +0.00165 
HY.Z07 CANADIAN $/JAPANESE YEN Dec (NYBOT) 117.640   +0.925 
GB.Z07 EURO/BRITISH POUND Dec (NYBOT)        0.6987  +0.0010 
EP.Z07 EURO/CANADIAN $ Dec (NYBOT)           1.38530 +0.00725 
EJ.Z07 EURO/JAPANESE YEN Sep (NYBOT)       162.380   +0.685 

Blather (from http://quotes.ino.com/exchanges/?r=CME_CD)

The December Canadian Dollar was higher overnight as it consolidates above the 10-day moving
average crossing at 1.0283. Stochastics and the RSI are overbought, diverging but are turning
bullish again signaling that sideways to higher prices are possible near-term. Upside targets are
hard to project if December extends this fall's rally into uncharted territory. Closes below the 20-
day moving average crossing at 1.0203 would confirm that a short-term top has been posted. First
resistance is Tuesday's high crossing at 1.0390. First support is the 10-day moving average
crossing at 1.0283. Second support is the 20-day moving average at crossing at 1.0203.


Analysis

The greenback, loonie and Euro are still in uncharted territory. The Yen is still crashing.

As bolded above, the loonie briefly crossed $1.04. I'm still calling for $1.05 or higher by month-end.

The Premier of Alberta announced in a TV broadcast last night that Alberta will be gradually raising the royalty rates for oil production at the Oil Sands. He's trying to walk a fine line between people pissed off at the oil companies getting all the money, and oil companies threatening to walk if there's any change in royalties.

http://today.reuters.co.uk/news/articleinvesting.aspx?type=eurMktRpt&storyID=2007-10-25T163336Z_01_L25606862_RTRIDST_0_MARKETS-EUROPE-STOCKS-UPDATE-3.XML

LONDON, Oct 25 (Reuters) - European shares ended higher on Thursday, boosted by telecom stocks after robust earnings from France Telecom (FTE.PA: Quote, Profile , Research) and by growing expectations for further U.S. rate cuts after more weak economic data.

France Telecom was the top percentage gainer on the FTSEurofirst 300 <.FTEU3> of top European shares, rising 8.7 percent after reporting strong results, and lifting UK mobile rival Vodafone (VOD.L: Quote, Profile , Research) and fixed-line group BT (BT.L: Quote, Profile , Research).

The FTSEurofirst ended the day 1.13 percent higher at 1,567.10 points, taking its gains for the year to date to 5.6 percent and showing a near 10 percent rise from an eight-month low in August when the credit markets first ran into trouble.

Stocks got a boost from data on new U.S. home sales that showed a fall in inventory of homes and a rise in sale prices, but a surprise fall in monthly orders for durable goods there tempered gains.

The U.S. Federal Reserve is widely expected to cut rates to 4.50 percent next week, and a string of weak economic data and mixed corporate earnings have prompted investors to prepare for monetary policy to loosen further next year to encourage growth.

"The perception the markets have (is) that central banks have to cut rates as inflation isn't a threat," said Dublin-based investment strategist Bernard McAlinden at NCB Stockbrokers.

Mining stocks were also a large positive influence on the broader market after a rebound in commodities prices helped push up the share prices of Anglo American (AAL.L: Quote, Profile , Research), which rose 3.6 percent, Rio Tinto (RIO.L: Quote, Profile , Research), which added 3.6 percent, and Kazahmys (KAZ.L: Quote, Profile , Research), which gained 3.4 percent. Continued...

/...

http://www.financialsense.com/fsu/editorials/willie/2007/1024.html

...

BROKER DEALER STOCK INDEX PLUMMETS

The broker dealer stock index XBD is crucial. It represents precisely the powerful Wall Street interests. They call the shots with the USFed. Consider that JPMorgan is acting body of the USFed, and JPM is a member of the XBD index, a select privileged elite short list of big banking firms. Their portfolios are deeply endangered by the mortgage bonds and associated credit derivatives, the collateralized debt obligations. They are known as CDO’s nowadays, whose makeup includes various amounts of subprime slime, a unique American concoction of stupid loans, reckless lending, insane leverage, laced with fraudulent ratings, and misrepresented to investors. The September USFed official rate cut was fully announced by this XBD stock index. The breakdown in July remained in breakdown mode in August. It rebounded immediately after the rate cut. But since then, it has suffered a technical breakdown once again. This plummet is more dire in fact, since the 20-week moving average (in red) has crossed the 50-week moving average (in blue) to signal a bearish event early in its unfolding bust. The decline last week was huge, a climax occurring on Friday. Was that the anniversary of Black Monday? The XBD struggles to hold its ground, unable to lift on a bounce at all. Another USFed rate cut is again indicated. Give it 7-to-1 odds of occurring before Thanksgiving or when the snows arrive in New Jack City.

...

The entire structured risk model is going to unravel, where all manner of offloaded risk will be upended, resulting in wave after wave of bank problems, bond crises, derivative distress, and more. The entire financial structure of the US banking system is proving to be a house of cards, bubbles throughout the foundation, improper pricing models throughout the entire network of tinkertoys in support grids, and fraud laced within its fabric. A boycott of US$-based bonds is early in development. Corporate bonds of US$ denomination are not attracting foreign capital. Mortgage bonds and their CDO derivatives are in search of bond cemeteries, totally devoid of price valuations on balance sheets. Most are actually worthless, creating holes in bank balance sheets. Some FOMC Treasury auctions have been failures. Foreign central bank ownership of USTreasury Bonds is on the fast decline. The great bond bubble is in the long excruciating process of bust. The tech/telecom stock bust of 2000 was quick, sudden, with a certain aftermath. The bond bust will take years to unravel.

...

The important point to take away is that the USDollar is in trouble, confirmed by a powerful uptrend in the crude oil price. New highs were reached in October, without yet a new lower USDollar index suffered. In my view, the key is Saudi Arabia and the rest of the Persian Gulf nations. If they refuse 100% US$ payment for crude oil, we will hear the death knell of the defacto PetroDollar standard. Eventually, look for payments of Arab oil, if not all OPEC oil, to be made in whatever China dictates their currency basket to be. Entire banking systems will be forced to adjust, with massive selling of USTBonds and accumulation of EuroBonds. This topic will be continued in the November Hat Trick Letter.

...

REQUIEM FOR THE USDOLLAR

The Goldman Sachs plant as the new head of the Bank of Canada ensures the takeover of the Canadian banking system, the introduction of the newly inaugurated amero currency, and lost sovereignty for Canada. This is tragic. With a crippled US banking system, a faltering USEconomic system dependent upon housing, and a Mexican failed state in the making, my hopes for the viability of the amero currency are dim. This garbage regional currency is doomed from the start. Canada is a small economy with an absolutely gigantic treasure of natural resources. The relative size of the three economies bodes poorly for the amero. With 30 million population in Canada, 300 million in the Untied States, and 120 million in Mexico, Canada cannot pull the three-horse team running ahead of a bizarre stagecoach. Cheap Mexican labor, ample Canadian minerals & resources, even with a spiffy new network of corridor transportation lines, cannot comfortably mesh with US entities. The lopsided imbalanced upside down corrupted mix of US elements, steered toward consumption not investment, large & powerful rather than efficient, directed by wrong priorities, dominated by corrupt Wall Street and aggressive military forces simply is bound to produce little on the positive, and much on the negative. This queer alliance will not stop gold or silver prices from rising to great heights. This queer alliance will not prevent the energy prices from rising either. The main policy behind the amero currency will be inflation, no different from the USDollar.

/plenty more...

Dow 13,571.77 103.48 (0.76%)
Nasdaq 2,739.54 35.22 (1.27%)
S&P 500 1,503.34 12.54 (0.83%)
10-Yr Bond 4.333% 0.002

NYSE Volume 2,204,580,250
Nasdaq Volume 1,622,760,750

1:00 pm : The major indices are trading slightly above their worst levels of the session. The financial sector (-1.0%) is now the main laggard, and is significant drag on S&P 500 due to its large weighting.

The small-cap Russell 2000 Index and the S&P 400 Mid-Cap Index are currently underperforming the broader market.

Separately, crude oil continues to rally. A barrel of crude for December delivery is up 2.73% to $89.48. DJ30 -31.21 NASDAQ -22.09 R2K -0.8% SP400 -0.8% SP500 -4.48 NASDAQ Dec/Adv/Vol 1689/1168/1.44 bln NYSE Dec/Adv/Vol 1826/1329/701 mln

12:35 pm : The major indices continue to trade in a choppy manner. Since the last update, a pick up in buying interest has pushed the indices back into negative territory, and the Nasdaq into fresh intraday lows.

Comcast (CMCSA 21.37, -2.48) and Symantec (SYMC 18.19, -2.81) are notable drags on the Nasdaq composite.

Comcast reported third quarter earnings that were in-line with the consensus estimates. The stock has plummeted though, over concerns that Comcast will not meet future guidance.

Symantec is trading lower despite beating its second quarter earnings expectations. The stock has taken a beating after the company lowered its third quarter earnings guidance. Also, Robert W. Baird downgraded the company to Neutral from Outperform. DJ30 -14.22 NASDAQ -19.56 SP500 -3.12 NASDAQ Dec/Adv/Vol 1681/1145/1.31 bln NYSE Dec/Adv/Vol 1829/1293/634 mln

I shudder to think!!

http://www.reuters.com/article/newsOne/idUSN247838820071024

CANBERRA (Reuters) - An Australian barmaid has been fined for crushing beer cans between her bare breasts while an off-duty colleague has been fined for hanging spoons from her friend's nipples, police said Wednesday.

Police in Western Australia said the 31-year old barmaid pleaded guilty in the local magistrate's court to twice exposing her breasts to patrons at the Premier Hotel in Pinjarra, south of the state capital, Perth.

The woman "is alleged to have also crushed beer cans between her breasts during one of the offences," in breach of hotel licensing laws, police from the Peel district of Western Australia said in a statement.

The barmaid and the hotel manager were both fined A$1,000 ($900), while an off-duty barmaid was fined A$500 for helping to hang spoons from the woman's nipples, police said.

...more...

:rofl:

you have way too much time on your hands as did our friends in Canberra.;)

Dow 13,682.89 7.64 (0.06%)
Nasdaq 2,758.98 15.78 (0.57%)
S&P 500 1,514.02 1.86 (0.12%)
10-Yr Bond 4.352% 0.021

NYSE Volume 3,481,264,500
Nasdaq Volume 2,434,430,750

3:30 pm : For now, the stock market's recovery effort has subsided. The major indices remain in negative territory, but have pared a good portion of their intraday losses.

The dollar has lost ground this session. The DXY Index is down 0.36%.

After the close, 95 companies are set to report their earning, including Microsoft (MSFT 32.14, +0.89).DJ30 -12.19 NASDAQ -23.21 SP500 -2.62 NASDAQ Dec/Adv/Vol 1757/1184/2.25 bln NYSE Dec/Adv/Vol 1836/1398/1.20 bln

3:05 pm : The major indices get a nice upward push after CNBC reported that the AIG (AIG 62.08, -1.76) write off rumors are not true, slightly before 15:00 ET.

There have been concerns over companies exposure to the subprime turmoil. In addition to the decline in AIG, companies that insure mortgages have been hit such as PMI Group (PMI 15.98, -1.84) and MBIA (MBI 47.33, -7.84).
DJ30 +5.77 NASDAQ -18.69 SP500 -1.40 NASDAQ Dec/Adv/Vol 1824/1111/2.09 bln NYSE Dec/Adv/Vol 1883/1333/1.01 bln

2:30 pm : Since the last update, crude oil hit an all-time intraday high of $90.55. New sanctions on Iran, the conflict between Turkey and Kurds in northern Iraq, tight supply and a weakening dollar are playing a role in the rally.

Despite the high oil prices, the stock market has seen some modest gains following a broad-based pickup in buying interest. The major indices are still posting decent sized losses, but are off their session lows.DJ30 -67.47 NASDAQ -28.92 SP500 -8.75 NASDAQ Dec/Adv/Vol 1884/1022/1.88 bln NYSE Dec/Adv/Vol 2104/1101/947 mln

There's a real Herculean effort afoot to stabilize the markets.

Dow 13,671.92 Down 3.33 (0.02%)
Nasdaq 2,750.86 Down 23.90 (0.86%)
S&P 500 1,514.40 Down 1.48 (0.10%)
10-Yr Bond 4.352% Up 0.021
NYSE Volume 4,197,335,000
Nasdaq Volume 2,806,895,750

4:25 pm : Anyone watching the stock market all day, every day, has plenty of reason to be tired this week. Aside from all of the earnings news, the manic nature of the trading alone has been enough to put you on bed rest for a while. Thursday was certainly no exception as we once again witnessed another large sell-off only to see the stock market come barreling back in afternoon trading.

At their lows for the day, reached right around 2:00 ET, the Dow, Nasdaq and S&P were down 127, 40, and 15 points, respectively. What doesn't show up in those figures, though, are the gains that were registered in the early going. For added perspective, then, note that the swings between the high and low points for the Dow, Nasdaq and S&P were 193, 54 and 23 points, respectively.

The initial move higher was fueled by encouraging earnings news from the likes of Motorola (MOT 19.30, +0.75), Aetna (AET 55.99, +3.09), Express Scripts (ESRX 60.94, +3.57) and Estee Lauder (EL 44.72, +1.40). Those companies, and others, helped offset disappointments from companies like Symantec (SYMC 18.50, -2.52), Dow Chemical (DOW 43.66, -0.32) and MBIA, Inc. (MBI 46.99, -8.20).

Buyers didn't really pick up their efforts, though, until the September new home sales report hit the wires at 10:00 ET and helped mitigate the disappointment that followed weaker than expected durable orders and initial claims data.

The headline of note was that new home sales increased 4.8% from August to an annualized rate of 770K units. The rally that followed the report, though, was certainly questionable when taking into account that the level of new home sales was in line with the consensus estimate and that it only showed growth because the prior month's report showed a 7.6% downward revision to an annualized rate of 735K units.

In due time, the new home sales enthusiasm faded and sellers returned in earnest upon hearing a rumor that Dow component AIG (AIG 61.79, -2.05) would soon be announcing a large write-down.

The speculation surrounding AIG hit other financial stocks hard. At one point the S&P financial sector was down 2.3% Oil prices surging past $90 per barrel on supply concerns and news that the U.S. imposed new sanctions against Iran exacerbated the selling pressure.

Things turned on a dime, however, as the rumors surrounding a potential AIG write-down got shot down. That paved the way for buyers to return to the action and they did so with some conviction as larger losses were pared considerably.

The comeback effort was a broad-based affair. The financial sector (-0.6%) played an influential role, but at the end of the day, it still underperformed the broader market as did the consumer discretionary (-0.9%), technology (-0.3%), industrials (-0.5%) and telecom services (-0.6%) sectors.

The utility sector (+2.0%) was the only sector to gain more than 1.0%, but its small weighting in the S&P meant it didn't have the pull to make a bigger difference. The energy (+0.6%), health care (+0.4%), consumer staples (+0.4%) and materials (+0.5%) sectors were also among the leadership.

Separately, the Treasury market lost some ground, but nothing too significant. The 10-year note slipped 7 ticks, bringing its yield up to 4.37%.DJ30 -3.33 NASDAQ -23.90 SP500 -1.48 NASDAQ Dec/Adv/Vol 1737/1231/2.74 bln NYSE Dec/Adv/Vol 1675/1583/1.61 bln