STOCK MARKET WATCH, MONDAY NOV 3....(#1)

[ozymandius]

Monday November 3, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 448
REICH-WING RUBBERSTAMP-Congress = DAY 350
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 325 DAYS
WHERE'S OSAMA BIN-LADEN? 2 YEARS, 18 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 225
DAYS SINCE ENRON COLLAPSE = 709
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 31, 2003

Dow... 9,801.12 +14.51 (+0.15%)
Nasdaq... 1,932.21 -0.48 (-0.02%)
S&P 500.... 1,050.71 +3.77 (+0.36%)
10-Yr Bond... 4.30% -0.04 (-0.88%)
Gold future... 384.60 +0.20 (+0.05%)

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

||


GOLD, EURO, YEN and Dollars


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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 [e-mail]

For information on protests and other actions Citizens For Legitimate Government

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[ozymandius]

1. WrapUp by Tim W. Wood

THE DOW REPORT
"Another Look at Market Fuel"

The Dow Jones Industrial Average has continued to hold above 9,504.64 for most of October. The Dow Jones Transportation Average is also back above 2,862.85. These levels are representative of the 50% principle as described by George Schaefer. As long as the markets hold above these levels, this principle suggests that we could see a run back up to the all time highs. So, as I have been saying for a while now, if we only look at price all looks well. The only negative that I see on this chart is the fact the we now have a small divergence. This divergence comes from the fact that the DJTA has closed above the October 14, 2003 closing high, while the DJTA has not.

Now if we peal back the covers on the market and look at some of the internal elements we start to see an entirely different picture. I have talked about this before and I want to follow up on it because I feel that it so important in helping you to understand the true weakness of this rally. The chart below is of the DJIA and the indicator at the top is a 34-day moving average of advancing volume. I termed this market fuel a few weeks back. My point in sharing this chart with you is to show you one of the market elements that I routinely monitor. This element continues to be a negative indication for the market. This is true because in order for a healthy rally to continue it must have fuel and that fuel is advancing volume. I have warned that unless this condition is resolved the market will run out of gas.

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

[ozymandius]

2. Have a great day Marketeers!

Enjoy yourselves at the casino. I have a busy day ahead and will try to pop in if the wind is with me.

Ozymandius

[JNelson6563]

3. Hello and Goodbye Dear!

Thanks for kickin' us off Ozy! May you have a productive and profitable day!

Wood's column was good today, not so saw-dusty. ;-) Certainly food for thought and some good answers for those who don't follow the economic scene and believe the appearance that everything looks terrific. To me the word "precipice" comes to mind but hey, that's me.

Futures are lookin' fabulous. Massive Mutual Fund frauds investigation, more blood flowing in Iraq then one finds in the Old Testament and Team Bush scrambling to keep up the lie....Market says yummy, want more!! haha

Could be a fun day on the Street. :hi:

Julie

[JNelson6563]

4. Worldcom bankruptcy

They only have to pay their creidtors .36 on the dollar. They'll be out of debt lickety split! Isn't Perle on that board? ;-)

Julie

[Maeve]

5. Nice toon! Too true

More happy-talk this morning and total belief in the future (and never mind the drop in consumer spending in September or any other possible shadow).

I'm cutting back my computer time for a while, so I probably won't me adding much to the thread this week...altho I'll HAVE to check in Thursday at the very least!) Have fun at the casino!

[JNelson6563]

6. a wee bit o' the blather

CBS MarketWatch
Street to focus on economy as earnings season wanes
Saturday November 1, 5:12 am ET
By Ciara Linnane


NEW YORK (CBS.MW) -- U.S. stocks will take their cue from some key economic releases next week as the third-quarter earnings season draws to a close.
Data released in the past week, notably Thursday's surge in third-quarter GDP to its fastest clip in almost two decades, helped the key indexes hold strong October gains Friday. The question now is whether that pace can be sustained.

"It's all about the fourth quarter now," said Jefferies & Co chief equity strategist Art Hogan. "Attention is going to shift away from earnings and move to the economy. The trend has been positive and if we see it continuing in that direction, the market should hold up well."

Uh oh. They're gonna start looking at the economy! Be afraid. ;-)

Julie

[UpInArms]

7. daily dollar watch

it looks like an iffy kind of day with the dollar - currently down, but up from the past couple of weeks (down is up?)

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

Last trade 92.66 Change -0.07 (-0.08%)

[JNelson6563]

8. Any word on Russia/Euro?

What ever came of that?

And yes, in Amerika, down is up. Try to keep up will ya? And yes, we've always been at war with Eurasia. ;-)

Julie

[UpInArms]

9. the most interesting article that

I have found regarding Euro/Dollar is here

http://www.mises.org/fullarticle.asp?control=1348&id=62

The End of Dollar Supremacy?

Given the current account deficit in the United States of more than five per cent and a negative net foreign investment position of over twenty per cent of its gross domestic product, it is the relative stability of the US dollar that needs explanation and not the fact that the effective exchange rate of the dollar has declined by twenty per cent since late 2002. It is even more remarkable that U.S. interest rates did not have to rise as might have been expected in order to attract foreign investment as a compensation for the deficit in the current account.

Balance of payments numbers such as those the United States currently has would have broken many other currencies and would have triggered severe financial crises in other countries much earlier. But the United States is different. It holds a privileged position within the international monetary system and its path to ruin may be longer and smoother than that for other nations. Nevertheless, even for the U.S. there is a limit and the country seems to be getting closer to it every day.

The relative strength of the US dollar despite the deteriorating external position results from the role of the dollar as the world's global reserve currency and because the pillars on which the dollar's supremacy rests do still seem intact. Furthermore, there is not yet a ready substitute for the dollar in sight which could replace it as a functioning global currency.

...more...

[JNelson6563]

10. Great article UIA

Thanks for posting. I hope all interested int he dollar take a few minutes to read it.

Julie

[JNelson6563]

11. and we're off to the races!

9:44 and here's how it's lookin' early on:


Dow 9,832.68 +31.56 (+0.32%)
Nasdaq 1,944.30 +12.09 (+0.63%)
S&P 500 1,053.52 +2.81 (+0.27%)
10-Yr Bond 4.344% +0.043

Money leaving Treasuries and yet it's claimed the geopolitical events have had no play in the markets. Mmm hmm.

Julie

[JNelson6563]

12. 10:07 and rockin'!

Dow 9,881.94 +80.82 (+0.82%)
Nasdaq 1,961.61 +29.40 (+1.52%)
S&P 500 1,059.40 +8.68 (+0.83%)
10-Yr Bond 4.338% +0.037


Why do I feel as though I am in a fine china shop and the merchandise is made of plastic?

Julie

[JNelson6563]

13. update and blather from Yahoo

CBS MarketWatch
Manufacturing data accelerates buying on Wall St.
Monday November 3, 10:44 am ET
By Michael Baron

NEW YORK (CBS.MW) - U.S. stocks got November off to a bullish start as investors rallied around strong data from the manufacturing and technology sectors, positive earnings news, and a spate of acquisitions.

The release of a better than expected October ISM index shortly after the opening bell accelerated early buying. The gauge of factory activity came in at 57 percent for the month. Economists had expected the index to rise to about 55.4 percent. Techs got a lift from news that chip sales swelled 6.5 percent to $14.4 billion in September.

more:

http://biz.yahoo.com/cbsm-top/031103/4a3d22da1513de33b556c5a5d48ea361_1.html

10:53:

Dow 9,873.86 +72.74 (+0.74%)
Nasdaq 1,960.00 +27.79 (+1.44%)
S&P 500 1,058.91 +8.20 (+0.78%)
10-Yr Bond 4.372% +0.071

Gee are we need now is jobs. Or maybe we could fix that little problem with a few more prisons and re-instating the draft. That would gobble up lots of those nasty little unemployed statistics. ;-)

No problems, just opportunities in the happy-go-lucky, profit-driven world of the Gilded 1 Per Cent and their pals, the PNAC gang.

Julie

[Timefortruth]

14. Strange.

Chimp is speaking and the market isn't declining. That's a first, wonder why?

[JNelson6563]

15. 1:37 update

Dow 9,875.79 +74.67 (+0.76%)
Nasdaq 1,963.43 +31.22 (+1.62%)
S&P 500 1,059.12 +8.41 (+0.80%)
10-Yr Bond 4.378% +0.077


Things are still rockin' on the Street. Smackdown in the 10yr.

Julie

[54anickel]

16. Hindsight...so depressing

I sit here in disbelief watching the numbers go up. I recently lost my job and last week moved my 401k holdings into their MM fund until I could transfer it to an IRA with another company.
I wanted to try to protect my investments from a sudden drop that seemed inevitable with all the bad new.....investment scandals, the war, the Euro vs dollar discussions, etc.
Do you think I am spending too much of my newly found spare time surfing the web and finding bad news that is effecting my judgement? Maybe I should just watch FOX.

[JNelson6563]

17. Here's the end of the story

Dow 9,858.46 +57.34 (+0.59%)
Nasdaq 1,967.70 +35.49 (+1.84%)
S&P 500 1,059.02 +8.30 (+0.79%)
10-Yr Bond 4.368% +0.067


Catch you marketeers in the AM

Julie