STOCK MARKET WATCH TUESDAY, SEPT 9.....(#1)

[ozymandius]

Tuesday September 9, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 503
REICH-WING RUBBERSTAMP-Congress = DAY 295
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 270 DAYS
WHERE'S OSAMA BIN-LADEN? 1 YEAR, 328 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 170
DAYS SINCE ENRON COLLAPSE = 654
Number of Enron Execs in handcuffs = 17
ENRON EXECS CONVICTED = 0
Other Arrests of Execs = 53

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




AT THE CLOSING BELL ON September 8, 2003

Dow 9,586.29 +82.95 (+0.87%)
Nasdaq 1,888.62 +30.38 (+1.63%)
S&P 500 1,031.64 +10.25 (+1.00%)
10-Yr Bond 4.39% +0.04 (+0.80%)
Gold future 376.20 -2.50 (-0.66%)

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 [e-mail]

For information on protests and other actions Citizens For Legitimate Government

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

[JNelson6563]

1. Great Toon! Look at Gold!

Holy cow! Up 5.80 already! Zowie!! Somebody's not very confident in stocks.......

So what'll it be today? Hmm? PPT? Lemmings? Disaster? Where's that crystal ball??

And what's with the wrap-up these days? Like I'm in Econ class again. Zzzz.

More later--

Julie the whiner haha

[ozymandius]

2. Good morning everyone!

My DU is very slow this morning and just as well. I will not be around very much today.

Yesterday's market numbers were, paradoxically, surprising and then not surprising. The stock markets typically does well when the bond market suffers and vice-versa. The S&P upgrading their year-end target numbers didn't hurt either. The NASDAQ's upgrade among investors drifted to other markets, it seems.

Such impressive gains among the headlines of likely increasing budget deficits was the real surprise. I guess the marketeers still do not know that that steak is laced with arsenic.

[sirshack]

14. No real correlations...

...between budget deficits and equity performance, though some have found budget deficits to be one factor among many which influence market volatility. If investors believe an economic recovery is at hand or in the beginning stages (and good economic performance is one "antidote" to expanding budget deficits), what the deficit happens to be will probably make little difference in their investment behavior.

[ozymandius]

3. Jim Puplava is back!

WrapUp by Jim Puplava

The Oil Patch

This year is the third year of the new century and already we have had two energy crises. The first crisis began in California where mismanagement of deregulation left the state with large deficits and consumers with high utility bills. We in California are still living with the aftershocks of that crisis with lingering deficits and high utility bills. This past month the mid-west and the east coast were beset with an energy blackout reminiscent of the late 60’s and early 70’s. Plain and simple, the U.S. has neglected its energy infrastructure for far too long and it is beginning to show. The recent blackouts of last month and high energy prices are a portent of things to come. The problem will not be solved quickly nor will it go away. Unfortunately it is going to take further crises before the politicians wake up to the fact that energy is a vital input to economic growth and national security.

The U.S. must now import close to 60% of its energy needs and Americans consume over 25% of the world’s daily output of oil. That import number is going to get larger by the end of this decade. The U.S. is more dependent on oil imports than it was 20 years ago. If nothing is done about it, the country’s energy needs will rest solely on the whims of five Middle Eastern nations. This leaves the economy and national security of the nation at risk.

<..cut..>

In the marketplace higher prices have translated into record profits for the oil companies. You wouldn’t have known that had you been following the stock market. The experts have been predicting lower oil and natural gas prices for the last two years. As of today oil is at $28.85 a barrel, natural gas is at $4.66, and heating oil is selling at $75.86. We haven’t even gotten to the winter heating season yet and inventories are down 6% over last year. The experts keep predicting lower oil prices but oil prices have remained closer to $30 a barrel all year and natural gas prices have remained firmly above $4 throughout the summer. The experts told us we would be looking at $20 oil after the war with Iraq. Iraqi oil is not flowing freely and oil is closer to $30, not $20. The experts have been wrong consistently. If the economy holds up as the Fed reinflates the bubble then energy consumption will also increase.

much more...

[mrsteve]

23. Ahh, good old Puplava

Nobody rains on *'s economic Potemkin village quite like Krugman and Puplava.

(oops..mixing my metaphors a bit there - but I like the mental image ;-))

[Maeve]

4. Y'all ready for some GOOD news? Hopeful news, anyway?

Investigation of Former Enron Officers Intensifies
After some 18 months of investigation and a fistful of indictments in the Enron Corp. scandal, federal prosecutors are ratcheting up their efforts to determine whether former company chief executives Kenneth Lay and Jeffrey Skilling should face criminal charges, Tuesday's Wall Street Journal reported.

Federal officials have expressed the belief that they have identified individuals who possess evidence that could help provide the basis for criminal charges against one or both of the men, says a person familiar with the matter. Much of the work in the coming weeks will be focused on trying to get those individuals to cooperate. Prosecutors are hoping to be able to reach decisions concerning the two former CEOs within the next couple of months, say people familiar with the probe.<more>

[ozymandius]

5. You mean we might have to change those numbers in the count header?

(Number of Enron Execs in handcuffs = 17)????

This is sparkling news. Now. What about theat legislation Bush is pushing that would give these crooks a retroactive free ride out of jail?

[Maeve]

6. Yeah, I'll celebrate when it actually happens, but...

The idea that Kenny Boy might trade Armani for stripes is appealing!

The seer got seared yesterday--I totally did not expect a jump in the market. The easy way out would be to blame the PPT... :P But I'll go with the idea that more government spending was seen as good for the economy and forget about the deficit. "You will never go broke betting on the gullibility of the American people."

Still, there may be some profit-taking in today's market...

[JNelson6563]

7. There's always WorldCom

The Big Lie on CNBC tonight. Might be enlightening.

Ol' Kenny ain't ever gonna see prison. Ever.

Julie the Wet Blanket

[Hawkeye-X]

16. Well, PPT is running out of funds to pump...

And I'm seeing a huge drop today. A big one.

Hawkeye-X

[Maeve]

8. here we go 9:32

Dow 9,554.99 -31.30 (-0.33%)
Nasdaq 1,882.57 -6.05 (-0.32%)
S&P 500 1,028.48 -3.16 (-0.31%)
10-Yr Bond 4.375% -0.014

Catch y'all later--errands to run!

[FauxNewsBlues]

9. 9:35 Update

Dow -38.53
Nasdaq -7.84
S&P 500 -4.17

[ScotTissue]

10. Morning, folks

Futures look down a bit, huh?

I thought the bond market did OK yesterday--not as well as equity, but up a fraction.

So does the market take a tumble today in reaction "to reaction" to Bush's 87B speech?

[JNelson6563]

11. 10:35 update

Dow 9,530.35 -55.94 (-0.58%)
Nasdaq 1,871.24 -17.38 (-0.92%)
S&P 500 1,023.29 -8.35 (-0.81%)
10-Yr Bond 4.387% -0.002


Can't seem to turn that thing around.

Busy week for me, mostly quick check ins. I'm watching it all tho' even if from afar.

Hope all are having a good day! :hi:

Julie

[Coventina]

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

Gotta rush this morning---

Ching is pretty negative today.
Today's reading is HARMONIZE changing to TRAVELING. Not sure if we've ever seen those before, but they sure don't come up often. The changing lines for HARMONIZE are downright frightening, "You are losing your independence and self-reliance. You can still save yourself. Move."

The main message of TRAVELING seems to be, "Long-range and significant aims cannot be accomplished."

I'm going to predict a down day for the markets.

[UpInArms]

13. my daily "dollar watch" shows

a tremendous fall

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

Last trade 96.53 Change -0.63 (-0.65%)

[wetbandit2003]

15. Profits Galore!!!!!!

I come to smell some profit taking this morning!!

:bounce:

[Maeve]

17. 11:32 and still under water (but climbing!)

Dow 9,563.34 -22.95 (-0.24%)
Nasdaq 1,880.34 -8.28 (-0.44%)
S&P 500 1,027.05 -4.59 (-0.44%) {/font]
10-Yr Bond 4.411% +0.022

Y'want a side a blather with that?

11:00AM: The indices start to rebound around 10:30 ET...this is not a specific call, but on the past four Tuesdays, the market has turned higher mid-morning after opening weak...August 26 after the Dow was down 72 early on, it turned higher and ended up 23...August 19 the Dow ended up 16 after being down 23 at 10:30 ET...August 12 the Dow ended up 93 after being near flat at 11:30 ET...last Tuesday, right after Labor Day, the Dow was down 13 at 10:30 ET and ended up 107 points...maybe this is just due to the overall rally, but it is interesting nonetheless..
http://finance.yahoo.com/mo

[mrsteve]

18. Rising at 11:45

Hello fellow marketeers...

Dow 9,564.04 -22.25 (-0.23%)
Nasdaq 1,883.05 -5.57 (-0.29%)
S&P 500 1,027.59 -4.05 (-0.39%)
10-Yr Bond 4.439% +0.050

Going up? Still? Once again, enthusiasm triumphs over good sense.

[ScotTissue]

19. Legitimate

Yahoo Finance takes pains to explain;

12:00PM: Stocks opened lower in what can legitimately be called profit-taking...that catch-all excuse for a lower market is appropriate today because most of the news is good, and the market was very strong yesterday...if the indices end up near flat, the phrase of choice will probably shift to "a breather"...

[mrsteve]

20. Swimming sideways just under water

Dow 9,555.55 -30.74 (-0.32%)
Nasdaq 1,885.10 -3.52 (-0.19%)
S&P 500 1,027.03 -4.61 (-0.45%)
10-Yr Bond 4.434% +0.045

Higher than the open, but still lower than yesterday's close, while the last hour's rise seems to have sputtered out.

Mr. Ten Year is back in the positive, though, to satisfy us Doomsayers...

[ScotTissue]

21. looks like a day in slo-mo

Not strongly anything.

[mrsteve]

22. Still sideways, if slightly down in the last 15 minutes

at 1:20 -

Dow 9,542.64 -43.65 (-0.46%)
Nasdaq 1,879.67 -8.95 (-0.47%)
S&P 500 1,025.06 -6.58 (-0.64%)
10-Yr Bond 4.422% +0.033


Yahoo Finance is holding it's collective breath:
"1:00PM: Market still in a virtual holding pattern...aluminum and gold stocks leading sectors today as commodity prices are generally firm, while home improvement and retail stocks are lower, prompted by the Home Depot (HD) downgrade..."

[mrsteve]

24. Still going nowhere at 2:00 PM

Dow 9,546.64 -39.65 (-0.41%)
Nasdaq 1,883.42 -5.20 (-0.28%)
S&P 500 1,026.08 -5.56 (-0.54%)
10-Yr Bond 4.383% -0.006

[Maeve]

25. And no better at 2:36 (even a tad worse)

Dow 9,538.36 -47.93 (-0.50%)
Nasdaq 1,879.55 -9.07 (-0.48%)
S&P 500 1,025.63 -6.01 (-0.58%)
10-Yr Bond 4.387% -0.002

[Shadoobie]

26. Thanks, everyone.

I don't post very often to DU but I read it daily. My first stop is always the Stock Market Watch. I appreciate all the work that everyone does to put together this page everyday.

Since everyone here likes following the markets, I thought I would ask if anyone watched the Iowa Electronic markets. The University of Iowa business school has put together several markets to predict things like election outcomes, Federal reserve policy, etc. If you are interested the link is:

http://www.biz.uiowa.edu/iem/

-Greg

[Maeve]

30. And thank you!

I've bookmarked the link to check it out when time permits. Sounds intriguing!

[JNelson6563]

27. looks like a dark end

profit taking of course...

3:21:


Dow 9,518.64 -67.65 (-0.71%)
Nasdaq 1,874.08 -14.54 (-0.77%)
S&P 500 1,023.82 -7.82 (-0.76%)
10-Yr Bond 4.371% -0.018


No last minute miracles today.

Julie

[mrsteve]

29. Oops - parallel posts...

Guess great minds think alike :hi:

[mrsteve]

28. Quick 3:22 numbers

Dow 9,518.92 -67.37 (-0.70%)
Nasdaq 1,874.17 -14.45 (-0.77%)
S&P 500 1,023.82 -7.82 (-0.76%)
10-Yr Bond 4.371% -0.018

Ouch! Something took the wind out of the sails.

Yahoo blather:
"3:00PM: Nasdaq took a dip as Yahoo (YHOO 35.47 -0.07) came off sharply, apparently after making a less than exuberant presentation at a Merrill Lynch conference...Yahoo had been up as much as 1.21...that has lit up an otherwise dull afternoon, but the overall market has shown little reaction..."

Guess they are into a little navel gazing on this update :evilgrin:

[Maeve]

31. Quite a fade this afternoon

We get our "profit prophet" badges back!
:eyes:

Dow 9,508.53 -77.76 (-0.81%)
Nasdaq 1,872.79 -15.83 (-0.84%)
S&P 500 1,023.16 -8.48 (-0.82%)
10-Yr Bond 4.371% -0.018

[wetbandit2003]

32. Suits-1 , Dow 0

DOW -76
NASDAQ -15.91

Looks like the suits will be eating good fillet tonight!

[Maeve]

33. Final figures

Dow 9,507.20 -79.09 (-0.83%)
Nasdaq 1,873.43 -15.19 (-0.80%)
S&P 500 1,023.16 -8.47 (-0.82%)
10-Yr Bond 4.371% -0.018