STOCK MARKET WATCH, THURSDAY OCT 9....(#1)

[ozymandius]

Thursday October 9, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 473
REICH-WING RUBBERSTAMP-Congress = DAY 325
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 300 DAYS
WHERE'S OSAMA BIN-LADEN? 1 YEAR, 358 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 200
DAYS SINCE ENRON COLLAPSE = 684
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 8, 2003

Dow... 9,630.90 -23.71 (-0.25%)
Nasdaq... 1,893.78 -14.07 (-0.74%)
S&P 500.... 1,033.78 -5.47 (-0.53%)
10-Yr Bond... 4.24% -0.00 (-0.05%)
Gold future... 376.00 -1.80 (-0.48%)

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

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

[Maeve]

1. Waiting for the Initial Claims revision

Morning, all, and another day at the casino, as Jim Puplava calls it. Thursday is job-spin day, and the forecasts are for a decrease in unemployment claims from last week's 399K to 390-395K. That comes out at 8:30.

I won't be around much today or tomorrow--gotta get ready for my weekend escape from reality. (Off to Pittsburgh without the family)

[JNelson6563]

2. Top o' the mornin'!

Ah yes, Maeve's Great Escape! I hope you have a grand time dear. Time away once is a while can be good for the spirit. I too am going to be gone much of the weekend, political doings. Like I tell my family, it takes time, effort and occassional travel to overthrow the government. ;-)

And Puplava's term, another day at the casino, <snarf> I love that guy! haha Always right on.

I too look forward to the weekly #s. Wonder what sort of revisions we'll see?

Futures were looking pretty bright some time ago. They were talking about Yahoo beating expectations by a penny as though someone had just walked on water. :eyes: Nothing like a penny to get the lemmings to the buy window. Oy!

On the political front, it is great that the Ah-nold media event (aka "the recall election") is finally coming to an end so we can once again bask in the rays of light being directed at Wilsongate.

Don't forget to give your condolences to any ditto-heads you may know regarding their own Dear Leader. ;-)

Julie

[Maeve]

4. I should have made that prediction!--Breaking News

Initial jobless claims fell to 382,000 in latest week from revised 405,000 in prior week. Details coming.
~~~~~~~~~~~~~~

Lower initial claims this week = upward revision for the previous week

It is good news that the claims seem to be trending down, but we need to see massive hiring to get the US out of the job hole.

[JNelson6563]

6. last week revised up 6,000, eh?

I am stunned. Stunned I tell you.

Does Enron do these numbers or what?

So next week what will the 385,000 be changed to? :eyes: My kingdom for some honest numbers!!

Julie

[UpInArms]

3. daily dollar watch

and we're singing to the tune of "You've got a friend"!

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

Last trade 91.73 Change 0.00 (0.00%)

http://www.forbes.com/markets/currencies/newswire/2003/10/07/rtr1102413.html

Dollar slips, supported only by BOJ jitters

The dollar's losses were stemmed at 109.52 yen above 109.35 yen -- its lowest level since November 2000 -- hit on Tuesday, with traders citing rumours of intervention by the Bank of Japan.

so I guess we'll see how long it remains at this level - if the Nikkei stays above 10,000, the BoJ will probably not intervene too much - and they are all expecting the dollar to continue to fall - just trying to ease it down gently.

I also saw an interesting story regarding companies not being willing to add employees - http://www.boston.com/business/globe/articles/2003/10/09/poll_us_ceos_dont_expect_to_hasten_hiring/

WASHINGTON -- A majority of leaders of the largest US companies aren't planning to step up hiring as demand rises and the economy accelerates next year, a survey of the 190-member Business Council found.

Maeve, it should be interesting to see what those revisions show - I wonder if those magic 57,000 jobs that got added to the last month will stay there or if they will just as magically disappear.

Great 'toon, Ozy! Wonder when the nuts that voted for this wacko are going to realize they've been had for the likes of Enron once again?

[Maeve]

5. Market Wrap-up by Mike Hartman

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

snippets from the lower part of the article--
You Should Be Confused
Everything in the news since the meeting of the G-7 countries portrays the need for a falling dollar. The U.S. will never resolve the problem of deficits unless we are able to pay our debts with cheaper dollars and lower the value of the dollar to a point where imported goods cost just as much as domestic goods. At that point we would stop exporting all of our capital and jobs overseas. One day, people here in the USA will actually have to work to enjoy the standard of living that exceeds almost the entire world. The currency crisis of the U.S. dollar is creating global monetary imbalances of historic proportions. Everywhere in the financial press we hear of the euro gaining strength and the dollar falling as the government is forced to go deeper into debt.
<snip>

White House spokesman Scott McClellan told reporters when asked about the dollar’s recent decline. Pressed on the matter, McClellan told reporters, “Our policy has always been one of a strong dollar.”

It sounds like a bunch of ‘you know what’ to me. Ask ANY of our officials what the strong dollar policy is all about and I guarantee that nobody can tell you. It gets even worse. If there really is a policy, where is it defined? Next, try to figure out what a dollar is. You can’t do that either. It cannot be defined. Not even Alan Greenspan can define what a dollar is today. Lastly, the government maintains that the strong dollar policy is in place. Look at the chart again. If the chart represents a strong dollar policy, I shudder to think what a weak dollar policy would look like.
<more>

[UpInArms]

7. thanks Maeve!

love that analogy:

If you started out with a yard equaling 36 inches and gave it the same treatment as the dollar over the years, your yard is now a whopping 1.8 inches long.

[ozymandius]

8. Market's open

Dow 9,645.13 +14.23 (+0.15%)
Nasdaq 1,893.78 0.00 (0.00%)
S&P 500 1,036.61 +2.84 (+0.27%)
10-Yr Bond 4.313% +0.071


This is hello and goodbye. A long day awaits.

Take care, folks!

[UpInArms]

9. 3 minutes into trading and the skies the limit!

Dow 9,715.05 +84.15 (+0.87%)
Nasdaq 1,920.91 +27.13 (+1.43%)
S&P 500 1,041.71 +7.93 (+0.77%)
10-Yr Bond 4.314% +0.072

[JNelson6563]

10. Have a good day Ozy!

Zowie!! What a kick-off! Eveybody hop in quick and get out before 3:00!!

;-)

4 minutes in:


Dow 9,713.87 +82.97 (+0.86%)
Nasdaq 1,920.17 +26.39 (+1.39%)
S&P 500 1,042.27 +8.49 (+0.82%)
10-Yr Bond 4.312% +0.070


Looks like some pain in Treasuries. Ouch. I'm wincing.

Julie

[Maeve]

11. 8 minutes and wooooooo!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

This isn't GD, so I can do excessive punctuation, altho I'm not sure "excessive" counts when you're talking irrational exhuberance...

Dow 9,725.64 +94.74 (+0.98%)
Nasdaq 1,922.71 +28.93 (+1.53%)
S&P 500 1,044.47 +10.70 (+1.03%)
10-Yr Bond 4.310% +0.068

[JNelson6563]

12. 10:16 rationality setting in

Dow 9,712.01 +81.11 (+0.84%)
Nasdaq 1,923.61 +29.83 (+1.58%)
S&P 500 1,042.97 +9.19 (+0.89%)
10-Yr Bond 4.327% +0.085


It still looks to be firmly postive. I think. ;-) In now, out by three. Maybe. I hope.

Where is that magic 8 ball??

Julie

[UpInArms]

13. Up UP and AWAY!!!!!

Wheee!!!!!

The dizzying heights that can reached with such irrational exuberance!!!!

Dow 9,742.75 +111.85 (+1.16%)
Nasdaq 1,933.64 +39.86 (+2.10%)
S&P 500 1,046.41 +12.64 (+1.22%)
10-Yr Bond 4.329% +0.087

[JNelson6563]

14. Rockin'!

12:08 Party on dudes!


Dow 9,761.12 +130.22 (+1.35%)
Nasdaq 1,935.63 +41.85 (+2.21%)
S&P 500 1,047.35 +13.57 (+1.31%)
10-Yr Bond 4.326% +0.084


Hope everyone's making a few extra pennies today! :hi:

Julie

[Coventina]

15. The "I Ching" on today's market

Ozy! That 'toon made me LOL!

I'm kind of wondering if today's reading is addressed to us here at DU. I don't know how much the rest of you follow the politics of the board, but some of us have been acting pretty ugly lately. Anyway, today's reading is LIMITATIONS changing to RESOLUTION. I'll give you some raw material and see what you think. From LIMITATIONS, "Don't carry on battles over "the principle of the thing." Deal with the matter at hand and you will meet with success." And from RESOLUTION, "You cannot involve your adversaries in battle for, in acknowledging their strengths, you engage them and give them power."

I think Ching is telling us to quit fighting with each other and GET ON with our mission: taking our gov't back!

Sorry that doesn't have anything to do with the markets. Ching seems to be a little off-topic lately.

Looks to be an up day, I guess I didn't need Ching to predict that for us, though.

[Maeve]

16. Oh, what a cheerful day we've been having! 1:23

Dow 9,756.31 +125.41 (+1.30%)
Nasdaq 1,934.55 +40.77 (+2.15%)
S&P 500 1,046.37 +12.60 (+1.22%)
10-Yr Bond 4.318% +0.076

[ScotTissue]

17. Damn, I put my mad money in a money market fund

Because I want to buy a house and didn't like risk in a short term investment situation.

Or else I'd make some pennies, too!

[JNelson6563]

18. Cooling a bit at 1:53

Dow 9,740.61 +109.71 (+1.14%)
Nasdaq 1,930.07 +36.29 (+1.92%)
S&P 500 1,044.66 +10.88 (+1.05%)
10-Yr Bond 4.344% +0.102

The 10 yr's moved over 10 basis pts. If the markets keep cooling maybe there will be a reprieve there.

I have to leave the party. Thursday is lesson day for my violin virtuoso. ;-) I won't be back till after markets close but I'll stop in to check out the gains/remains of the day.

Bye all! :hi:

Julie

[UpInArms]

19. looks like someone poked a hole in the balloon today

Dow 9,697.27 +66.37 (+0.69%)
Nasdaq 1,921.60 +27.82 (+1.47%)
S&P 500 1,040.28 +6.50 (+0.63%)
10-Yr Bond 4.332% +0.090

[radfringe]

20. WHOAAAA look at that drop-off on the chart

at 2:00-ish

ummmmm....did the piehole open it's mouth? just asking

Talkinghead blather is that happy days will be here again, things will be better in the 4th quarter...

Madame Zarina's tea leaves say that either during the last week of December or 1st week of january the talking heads will be saying "happy days will be here again, things will be better in the 1st quarter... "

[mrsteve]

21. Checking in with 2:55 numbers - hello all

Dow 9,674.09 +43.19 (+0.45%)
Nasdaq 1,913.77 +19.99 (+1.06%)
S&P 500 1,038.33 +4.56 (+0.44%)
10-Yr Bond 4.318% +0.076

Yeah, that chart nosed over real pretty in the last 60 minutes.

Must...do...personnel reviews...today...no...time..to post.

Okay, that was suppposed to be Shatner-esque but just looks kinda silly. See all you marketeers tomorrow.

[Maeve]

22. Believe it or not, I READ it Shatner-esque!

Which just points me out as another old-time Trekie....(sorry! Trekker is the prefered term, now!)

Profits are being taken.
Dow 9,655.94 +25.04 (+0.26%)
Nasdaq 1,903.85 +10.07 (+0.53%)
S&P 500 1,035.97 +2.19 (+0.21%)
10-Yr Bond 4.318% +0.076

[UpInArms]

23. Trekie works for me :)

have you seen "Galaxy Quest"?

Makes me laugh out loud -

I think I must be the one without the last name and am in the mission only as the extra that dies :)

but the market has perked up its heels again

Dow 9,675.13 +44.23 (+0.46%)
Nasdaq 1,907.85 +14.07 (+0.74%)
S&P 500 1,037.86 +4.09 (+0.40%)
10-Yr Bond 4.302% +0.060

[Maeve]

25. aka a Classic Trek "red shirt"

You may have heard that TNG's Colm Meany (Chief O'Brien) found out he was a real "regular" when he was finally given a name in the script....

[Maeve]

24. Final figures for the day

Near the low for the day, but still up.

Dow 9,680.01 +49.11 (+0.51%)
Nasdaq 1,911.90 +18.12 (+0.96%)
S&P 500 1,038.73 +4.96 (+0.48%)
10-Yr Bond 4.302% +0.060

[JNelson6563]

26. Wow!! Last I saw

DOW was up some 130 pts.!! Boy did I call this one or what? haha A rare accurate prediction, whaddayaknow?

Catch you in the AM.

Julie