STOCK MARKET WATCH, WEDNESDAY OCT 29....(#1)

[ozymandius]

Wednesday October 29, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 453
REICH-WING RUBBERSTAMP-Congress = DAY 345
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 320 DAYS
WHERE'S OSAMA BIN-LADEN? 2 YEARS, 13 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 220
DAYS SINCE ENRON COLLAPSE = 704
Number of Enron Execs in handcuffs = 17
ENRON EXECS CONVICTED = 1
Other Arrests of Execs = 53

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




AT THE CLOSING BELL ON October 28, 2003

Dow... 9,748.31 +140.15 (+1.46%)
Nasdaq... 1,932.26 +49.35 (+2.62%)
S&P 500.... 1,046.79 +15.66 (+1.52%)
10-Yr Bond... 4.19% -0.08 (-1.78%)
Gold future... 388.20 -1.00 (-0.26%)

DOW..........................NASDAQ.......................S&P

||


GOLD, EURO, YEN and Dollars


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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 [email protected]

For information on protests and other actions Citizens For Legitimate Government

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[TrogL]

1. Don't you ever sleep?

:wtf: happened yesterday? 140+? The news wasn't that good.

There's a cat sitting on my foot.

[ozymandius]

4. Honestly, I am awake about 18 hours out of the day.

I don't know where that figure came from. There was no holiday so the inexperienced traders were not necessarily running the show. After that rediculous "press conference" there was a net result of a reverse pie-hole effect.

If you read my screed yesterday, there was a line about companies who posted earnings that were marginally higher than expected. Yet, their stock went down, some as much as 1% for earning 1 cent more per share than forecast. If I were to consider that thought a touchstone by which to measure the performance of other companies then I cannot tell you what happened yesterday.

One thought: maybe... maybe... the layoffs that were announced last week have taken root in the collective psyche. Less payroll equals higher profits. Also something else to consider: automated "buy" programs. Payroll disbursements were made yesterday. Money pours out of company coffers. For some employees, a portion of the paycheck is automatically invested in mutual funds, et al. That huge wash of cash can occasionally push prices higher. Day traders also make the mechanics of market dynamics a little murky.

Any way, this is so-long. I have to get myself to work.

[Don_G]

6. I've Got A Cat Covering My Whang

But she tells me she isn't Mandrake 9.2 and my GrandMa assures me that I'll Have clean "skivies tomorrow morning...."

Check with HawkerHurricane on the "skives" reference, the "Daily Rotation" on Linux news and my fat, hairy cat on the warm whang in the Lounge....:)

http://www.dailyrotation.com/

[HawkerHurricane]

25. color me out

of your skivies reference, and especially the warm whang with hairy...
Cat.

[ozymandius]

2. Financial Sense Online is still out-of-pocket.

There is a short note from Jim Puplava about the San Diego fire.



Our son, Adam, took this picture from our second story balcony. The sky is thick with smoke and ash is everywhere. Although the sun appears normal in this photo, it is actually crimson red. We hope to return to normal web work tomorrow. The fire here in San Diego County measures 45 miles wide and is burning 6,000 acres an hour. About 350 homes were destroyed 5 miles from our home.

[JNelson6563]

3. Good Morning Ozy

Futures are downsomewhat this morning. We had almost as good as expected news yesterday and Greenman did not say the economy was about to crash and burn so everybody bellied up to the buy window.

I think now that folks who live life around the dollar are feeling secure enough to take a look around....more "success" breaking out in Iraq, California on fire, and Banner-gate...for starters. Maybe time for some profit taking?

I don't think there's any data out today but some earnings.

As a little (oh-so-tiny) snippet of good news, my massive "Come join us Dems (or re-join)" in this Rethuglican stronghold has been yeilding excellent results! Many little notes included with replies and checks! Lots and lots of checks!! Our board's Treasurer couldn't believe the fat envelope I gave here stuffed with 'em! The tide is turning friends! It really is! All this after only four mail days of reply time, much more to come!

Let's all keep on rockin'!! Who knows? After we kick many a Rethug out maybe good finacial numbers will become real again!!

Julie

[ozymandius]

5. Rockin' and Rollin'

I just commented at some length above. But that is one factor that I did not give much thought: Greenman.

Yes. So true. We will not have realistic numbers until we have a new president and a new House majority. Really, I would take profits if there were any to be had.

Have a great day Julie!

Ozymandius

[TAH6988]

23. "If there were any to be had"

Are you kidding? The Dow and NASDQ have had HUGE gains this year. BIG profits to be had...My portfolio is up over 30% on the year.

[5thGenDemocrat]

17. Re: Julie's campaign and the Republicans

That's great news, Julie!! As a fellow Michiganian, I'd note that, though your area is indeed Republican, they are often Republicans like our former governor and your hometowner, William Milliken -- one of the best governors, R or D, this state ever had. I suspect many, many of them are opposed to this slob in the WH and have only been waiting for an invitation.
Put another way, what do you think Bill Milliken thinks of pResident Dopey? I suspect * makes his skin crawl. And he isn't alone -- up there or down here.
Congrats and continued best wishes!!
John
From Saginaw, which is Democratic as all get out.

[Don_G]

7. No Offense And I'm Not Cutting You Down

Have you seen this article I came arcoss?

Link: http://moneycentral.msn.com/content/P62345.asp

[JNelson6563]

8. Good article Don

Here's a blurb from it for thread readers:

SuperModels
Market prophet is battening the hatches

Analyst Michael Belkin called the bubble, the crash and the rally. Now he's telling his clients to bail. Here are his long and short strategies for a December downturn.

By Jon D. Markman

Rumors of the imminent death of the 2003 stock-market rally have been greatly exaggerated time and again in recent months. But according to one analyst with an enviable track record, the end days are finally here, and it’s time to prepare for a sickening plunge into December and beyond.

The doomsayer is Michael Belkin, one of the few investment analysts who has emerged from the recent boom, bust and re-boom markets with his reputation not just intact, but aglow.

Sounds like "run for your lives" to me.

Julie

[Maeve]

9. No reports due out today of note

And that cartoon is wrong--Dubya doesn't even GET the papers, much less open them! Shoot, the folks who tell him what's in the news don't read the papers, either....

And here's a slightly different poll from yesterday's Consumer Con...

Where are signs of recovery?
ABC/Money survey shows consumer sentiment inched higher but remained mired in a rut.
October 28, 2003: 7:02 PM EST
NEW YORK (CNN/Money) - President Bush said Tuesday that the U.S. economy is "gathering strength," but a survey showed consumer confidence remained stalled as recovery is yet to hit home for many Americans.
Seventy-one percent of those surveyed said the economy's in bad shape, miring the ABC News/Money magazine Consumer Comfort Index in a long-running slump. The index stood at -18 on its scale of +100 to -100 for week ended Oct. 26, its 23rd straight week between -16 and -21.

[Maeve]

10. Mortgage apps tumble

New Home loan applications tumble
Group says demand for mortgages to buy homes falls 5.7%; analysts see unsustainable pace of sales.
October 29, 2003: 7:48 AM EST
NEW YORK (Reuters) - Applications for mortgages to buy U.S. homes fell 5.7 percent last week, a trade group said Wednesday, suggesting that current mortgage rates may be starting to dent record-high home sales.
"The pace of home sales that we've seen for the last few months is not sustainable for much longer," said Celia Chen, housing economist at Economy.com, Tuesday. The job market is showing early signs of stabilizing, but is still weak, and mortgage rates are rising, Chen said.
The Mortgage Bankers Association of America said Wednesday that its index of applications for mortgages to buy homes fell 5.7 percent to 363.9. That decline helped drag overall mortgage applications down by 0.5 percent, bringing the MBA's market index down to 649.6.

[UpInArms]

11. daily dollar watch

and today there is another hint of weakening - the yen is way up and the euro seems to be yielding gains ... hmmmm

http://quotes.ino.com/chart/?s=NYBOT_DXY0

Last trade 91.78 Change -0.08 (-0.09%)

[Maeve]

12. Pullback at the opening--struggling at 10

Dow 9,739.41 -8.90 (-0.09%)
Nasdaq 1,929.33 -2.93 (-0.15%)
S&P 500 1,045.31 -1.48 (-0.14%)
10-Yr Bond 4.239% +0.050

looks to be a bit of a fight for direction this morning...

[JNelson6563]

13. Howdy Maeve and all

My cable was done for a while this morning so I missed the opening fun. Looks like a confused day.

Will be checkin' in after a few errands...
Julie

[Maeve]

14. Dramamine, anyone?

The indices were in the black for a while, but...

Dow 9,735.80 -12.51 (-0.13%)
Nasdaq 1,928.29 -3.97 (-0.21%)
S&P 500 1,044.63 -2.16 (-0.21%)
10-Yr Bond 4.236% +0.047

[Maeve]

15. Noon rollercoaster report

Mixed.
Blather sez:
12:00PM: The major averages have spent the entire morning chopping around with a slightly negative bias, although losses have been modest, at worst... Today's fractional losses comes on the back of yesterday's sweeping gains that catapulted the major averages higher by 1.5-2.6% and are, therefore, not entirely surprising... Noteworthy is the fact that the mid- and small-cap indices are outperforming the major averages on a relative basis, indicating that while some money is being taken off the table in the blue-chip issues, it's being reallocated to small- and mid-cap shares
http://finance.yahoo.com/mo
Dow 9,754.16 +5.85 (+0.06%)
Nasdaq 1,927.85 -4.41 (-0.23%)
S&P 500 1,046.23 -0.56 (-0.05%)
10-Yr Bond 4.227% +0.038

[mrsteve]

16. 1:15 - rollercoaster rolling back up

Hello all - busy day in the old salt mines today, so fewer posts.

Dow 9,760.90 +12.59 (+0.13%)
Nasdaq 1,929.26 -3.00 (-0.16%)
S&P 500 1,046.77 -0.02 (0.00%)
10-Yr Bond 4.228% +0.039

Yahoo Finance Update:
"1:00PM: The major averages stick to their relatively narrow trading ranges, with the blue-chip averages clinging to the flat line and the Nasdaq showing mild losses... The Dow continues to outperform the Nasdsaq and the S&P 500 on a relative basis... In the Dow, 13 of its 30 components are in the green with the leader to the upside being Boeing (BA 38.42 +2.38) on the back of its better than expected earnings... The laggards of note include Johnson & Johnson (JNJ 49.10 -1.44) and AT&T (T 19.25 -0.69)...
JNJ is on the defensive following an FDA warning regarding multiple reports of thrombosis with fatal outcomes when JNJ's Cordis cypher stents had been used... Merrill Lynch, for one, thinks the pullback on the news has been overblown... Separately, T is in the red due to a Wall Street Journal report indicating that BellSouth (BLS 25.89 +0.56) called off its merger talks, which would have valued T at about $24/share in cash and stock..."

[JNelson6563]

18. Same here dear--

Busy with political activities outside the home....

As of 1:57 we have:


Dow 9,778.31 +30.00 (+0.31%)
Nasdaq 1,933.08 +0.82 (+0.04%)
S&P 500 1,047.89 +1.10 (+0.11%)
10-Yr Bond 4.271% +0.082

Pretty lackluster day.

Julie

[JNelson6563]

19. 2:08 quick turn-around

Dow 9,742.16 -6.15 (-0.06%)
Nasdaq 1,927.88 -4.38 (-0.23%)
S&P 500 1,044.22 -2.56 (-0.24%)
10-Yr Bond 4.264% +0.075

Today's word; uncertainty.

Julie

[mrsteve]

20. What is this quick up and down?

Come on, .1 - .4% volatility in 20 minutes with no external cause? Who's rigging this casino, anyway?

[Maeve]

21. Is it just me or does the chart look Loch Nessian?

No, it's Cecil, the Sea-sick Sea Serpent!

[mrsteve]

22. 2:45 - Cecil the Sea Serpent indeed

He's going up and down below and above sea level. Good image!

Dow 9,753.86 +5.55 (+0.06%)
Nasdaq 1,930.04 -2.22 (-0.11%)
S&P 500 1,045.71 -1.08 (-0.10%)
10-Yr Bond 4.271% +0.082

(on edit - fixed time of market reading)

[Maeve]

24. Finishes with his head above water

Dow 9,774.53 +26.22 (+0.27%)
Nasdaq 1,936.56 +4.30 (+0.22%)
S&P 500 1,048.11 +1.32 (+0.13%)
10-Yr Bond 4.275% +0.086

And tomorrow is Revise the Unemployment Figures Day...see ya then!