STOCK MARKET WATCH, Thursday 19 January

[ozymandius]

Thursday January 19, 2006

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 368 DAYS
DAYS SINCE DEMOCRACY DIED (12/12/00) 1855 DAYS
WHERE'S OSAMA BIN-LADEN? 1555 DAYS
DAYS SINCE ENRON COLLAPSE = 1516
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 3
Other Arrests of Execs = 54


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




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 January 18, 2006

Dow... 10,854.86 -41.46 (-0.38%)
Nasdaq... 2,279.64 -23.05 (-1.00%)
S&P 500... 1,277.93 -5.00 (-0.39%)
30-Year Bond 4.52% +0.01 (+0.18%)
10-Yr Bond... 4.34% +0.01 (+0.18%)
Gold future... 544.50 -9.80 ( -1.80%)






GOLD, EURO, YEN, Dollars and Loonie


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

[ozymandius]

1. WrapUp by Mike Hartman

THE TRUTH…a Rare Commodity These Days!

Stocks are off to a rough start following disappointing results from Yahoo and Intel, Google was downgraded, and last night there was another major sell-off with stocks in Japan. Sell orders flooded the floor in Tokyo forcing the Nikkei lower by 3% with trading halted by an early close. As you might expect, CNBC reports the markets are overreacting and investors should not panic by selling their stocks. Wall Street is a perpetual selling machine that would have you invested in stocks at all times. According to the perpetual bulls, this is just another buying opportunity for tech stocks and financials. Just remember they really don’t care about you or your portfolio. They are more concerned about profits for themselves using your money! Mainstreamers on Wall Street will rarely tell you to buy gold and silver or mining/resource stocks to protect your assets.

Economic news today has the Labor Department reporting an unexpected decline in consumer prices with the Consumer Price Index falling for a second straight month. The headline CPI number fell 0.1% in December following a 0.6% decline in November. I would be very surprised to hear people say that their monthly bills are falling right along with the inflation data. This is a manipulated number by the government, so you can believe them or you can look at your monthly expenses and decide for yourself. The mainstream media is painting this to be a positive story because it means the Fed will back off the measured interest rate increases sooner rather than later.

-cut-

The Truth about Iran

I have become incredibly frustrated watching the mainstream media report on the looming crisis of Iran’s nuclear developments. They are spinning the problem to be bigger than it really is, just as they did with Iraq. North Korea has had nukes for some time, yet we have kept them in check. By far the biggest threat to the USA is the proposed oil exchange in Iran that will trade oil for euros. Our boys in high command first use the dollar to control the world’s governments and financial markets, and if that doesn’t work they send in our military to do the dirty deeds!

The Iranian oil bourse is an enormous threat to U.S. global control. If you do the research, you will find that we attacked Saddam Hussein because he was selling oil for euros…our leaders believed they had to protect the dollar at all costs. I’m getting a bit heavy-handed in this Wrap-Up today because I am getting fed up with the lies of omission in the mainstream media. If you missed the article, “THE LOOMING FIAT CURRENCY TRAIN WRECK” by Rob Kirby in the Financial Sense University, Mr. Kirby opens with the opening salvo, “While the bulk of the Western World’s main stream media continues to make pronouncements about the price of both crude oil and gold continuing to rise as a result of Iran’s nuclear aspirations – they have completely and utterly ignored the stark, dark reality of the currency train wreck right in front of our eyes.” It’s an excellent short essay that details the mathematics of the impact of Iran and Venezuela selling oil for euros.

more...

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

[AnneD]

23. Morning Marketeers,

:donut: Thanks Ozy, the wrap up is particularly great today-a short sweet synopsis. If truth were sold as a commodity on Wall Street, many of the hustlers, sharks, and pick pockets would not want to buy it. But to the small investors, its price is beyond rubies.
Happy hunting and watch out for the bears.

[OrangeCountyDemocrat]

57. CNBC Guru Says 25% SM Correction Long Overdue nt

[EuroObserver]

2. Japan, Europe stocks rebound

Nikkei posts biggest daily pct gain in 3 months
TOKYO (Reuters) - The Nikkei share average rose 2.31 percent, its biggest one-day percentage gain in three months, on Thursday as investors returned to Toyota Motor Corp. and other top firms after sharp falls and an unprecedented early market closure the previous day.

Hoya Corp. and Fujitsu Ltd. advanced following upgrades from brokerage firms, while Softbank Corp. surged after a steep two-day drop.

"Blue-chip companies have nothing to do with the Livedoor investigation, and investors are picking them up on dips. It's a kind of flight to quality," said Takahiko Murai, general manager of equities at Nozomi Securities.
...
The Nikkei gained 355.10 points to 15,696.28, its biggest one-day percentage gain since October 2005. It had fallen for the last three sessions, tumbling nearly 7 percent and wiping out more than $300 billion in shareholder value.

The broader TOPIX index rose 2.90 percent to 1,620.29. /more...

Tokyo stocks rebound from IT scandal but bourse under fire
TOKYO (AFP) - The Tokyo stock market staged a strong recovery as calm returned after chaos sparked by a scandal at a top Internet firm but the credibility of Asia's top bourse has been left severely tarnished.
...
As the fallout from the scandal mushroomed, Japanese media reported that an executive of a securities company, raided as part of an investigation into Livedoor, had been found dead in an apparent suicide.

The vice president of H.S. Securities, 38-year-old Hideaki Noguchi, was described as a close associate of Livedoor founder Takafumi Horie, who is soon expected to be questioned by prosecutors over the fraud allegations.

Despite fears of another slump, the benchmark Nikkei-225 index rebounded 355.10 points or 2.31 percent to close at 15,696.28, reversing most of Wednesday's 2.94 percent drop.

Dealers "had a feeling that they went too far with selling," said Toshihiko Matsuno, broker at SMBC Friend Securities.

The Nikkei had managed to hold above the key 15,000 points level Wednesday "convincing investors we have seen a bottom line for the immediate future."

He said the stock exchange should be held partly to blame for the plunge. "It was a bad announcement that they said trading may be 'suspended' during the day, which sparked crazy selling." /more...

Dollar hovers in lower 115 yen
(Kyodo) _ The dollar moved narrowly in the lower 115 yen level in Tokyo on Thursday in a sign the exchange market has quieted down following the upheavals surrounding Livedoor Co.

At 5 p.m., the dollar changed hands at 115.33-36 yen against Wednesday's 5 p.m. quotes of 115.19-29 yen in New York and 115.23-25 yen in Tokyo.
...
The euro was quoted at $1.2085-2088 and 139.40-44 yen, compared with $1.2107-2117 and 139.56-66 yen at 5 p.m. Wednesday in New York, and $1.2122-2124 and 139.69-73 yen at 5 p.m. Wednesday in Tokyo. /more...

Tokyo bourse to lift trade capacity by up to 80 pct
TOKYO, Jan 19 (Reuters) - The Tokyo Stock Exchange plans to increase its trade capacity by up to 80 percent by the end of this year, its head said on Thursday, a day after a flood of sell orders forced the world's second-largest bourse to close early.

Wednesday's emergency shutdown -- the first in the TSE's 57-year history -- came as traders and analysts questioned the bourse's capability to handle a spike up in trade volume after the exchange suffered its worst-ever outage in November, when trade was halted for most of a day.

The TSE has upgraded its systems three times in the past year but still found itself on Wednesday unable to cope with surging trade volume that threatened to bump up against full capacity. /more...

Tougher margin trade an option to cool market
TOKYO, Jan 19 (Reuters) - The Tokyo Stock Exchange could toughen its rules on margin trading to slow a surge in volume that has threatened to crash the trading system at the world's second-biggest share market, a senior TSE official said.

Margin trading enables investors to trade shares in amounts exceeding the cash or stocks they have on hand by putting up only part of the purchase price. It is seen as one of the factors contributing to stock market volatility. /more...

Japan keeps view that economy recovering moderately
TOKYO, Jan 19 (Reuters) - The Japanese government kept its view that the economy is recovering moderately in its monthly report on Thursday, and said firm domestic private demand will keep the trend intact.
...
Corporate profits are improving and capital spending is rising, while personal consumption, which accounts for some 55 percent of economic activity, is increasing moderately, the Cabinet Office said in the January report.

"The economy is recovering at a moderate pace," the report said.

"As for the outlook in the near term, the economic recovery is expected to continue, supported by domestic private demand, as the impact of resilient corporate sector activity is filtering through the household sector," it added.

It also reiterated that the impact from high oil prices, should be carefully monitored. Oil prices hit a nearly four-month high of $66.93 a barrel on Wednesday.

The only change in the government's economic assessment from the December report was the view on trade of goods and services. It said the surplus in trade of goods and services was rising, rather than saying the surplus was flat. /more...

-----

FTSE jumps as Asia claws back, miners gain
LONDON, Jan 19 (Reuters) - Britain's benchmark FTSE 100 index bounced on Thursday, with miners leading the way after Asian markets clawed back from the previous session's heavy fall.

Drugmaker Shire (SHP.L: Quote, Profile, Research) topped gainers after UBS raised its price target on the stock, while oil majors such as BP (BP.L: Quote, Profile, Research) and Royal Dutch Shell (RDSa.L: Quote, Profile, Research) capped the market's gains as oil prices retreated below $66 a barrel.

By 0915 GMT, the FTSE 100 index was up 28.2 points, or 0.5 percent, at 5691.7. Investors took their lead from Japan's Nikkei which added 2.3 percent, its biggest one-day percentage gain in three months, after its 3 percent drop in the previous session sparked a global stocks sell-off.

"People will be looking more closely at Asia than the U.S. They've taken this bounce as a positive sign that the bullishness can continue," said David Fineberg, senior dealer at CMC Markets.

BHP Billiton (BLT.L: Quote, Profile, Research) led resource stocks higher with a 2.8 percent gain to 1,015 pence each as copper prices hit fresh record highs, with Antofagasta (ANTO.L: Quote, Profile, Research) adding 1.5 percent. Rio Tinto (RIO.L: Quote, Profile, Research) gained 1.8 percent, boosted by a UBS report tipping higher 2005 profits for the mining giant. /more...


European stocks rise on Asia rebound, Novartis off
LONDON, Jan 19 (Reuters) - European shares opened higher on Thursday, after a strong rebound in Asian equities following this week's sell-off.

By 0820 GMT, the FTSEurofirst 300 index of top European shares was 0.42 percent higher at 1,290.68 having lost 0.9 percent the previous day while the narrower DJ Euro Stoxx 50 was up 0.69 percent at 3,594.78.

Germany's DAX rose 0.7 percent, France's CAC 40 gained 0.64 percent while Britain's FTSE 100 was up 0.5 percent.
...
Sentiment was slightly held back by disappointing outlooks from U.S. tech heavyweights Apple Computer (AAPL.O: Quote, Profile, Research) and eBay (EBAY.O: Quote, Profile, Research) , which sent their shares down in after-hours trade.

Out of European companies reporting, Swiss drug heavyweight Novartis (NOVN.VX: Quote, Profile, Research) lost 1.7 percent as fourth-quarter sales rose but profits were hit by charges.
...
Merrill Lynch (MER.N: Quote, Profile, Research) , Pfizer (PFE.N: Quote, Profile, Research) and Motorola (MOT.N: Quote, Profile, Research) are among top U.S. blue chips scheduled to report later while euro zone trade and inflation data are on the economic agenda with U.S. housing starts, jobless and manufacturing indicators. /more...

[ozymandius]

4. Good morning EuroObserver.

:donut:

It would appear that some people hold the belief of value existing in the market today.

Funny that.

Ozy :hi:

[EuroObserver]

6. 'Morning Ozy

Nearly lunchtime here! :9

Yep: plenty of volatility & scope for the jitters... Staged withdrawals on the upticks looks increasingly sensible...

http://news.ft.com/cms/s/7941f57e-885d-11da-a25e-0000779e2340.html
Apple’s shares fell 2.6 per cent on Wednesday ahead of the announcement, which came after the closing bell. They fell a further 6 per cent to $77.50 in after-hours trading. The shares were among the best performers on the stock market last year. /more...

[UpInArms]

19. Exec dead in apparent suicide involved w/ Livedoor -- AP

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38735.9550098843-857730335&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

SAN FRANCISCO (MarketWatch) -- Police said a securities executive allegedly involved in deals with a company at the heart of a burgeoning Tokyo investment scandal that has roiled Japanese markets was found dead in an apparent suicide, according to a published report. The body, believed to be that of Hideaki Noguchi, vice president of H.S. Securities Co., was found Wednesday in a hotel, the Associated Press reported. H.S. Securities was among the companies recently raided by prosecutors in connection with a probe of internet company Livedoor (LVDRF) , according to the report.

[AnneD]

25. As I have said before...

this is one thing about Japanese Management that I like...they have a sense of shame and responsibility. I keep hoping that some of these business schools will start instructing some of these crooks to be on the finer points ;) of sepku. It sure would save the taxpayers a lot of time and money.

[ozymandius]

3. Consumer Price Index Up 3.4 Pct. in 2005

WASHINGTON - Record prices for gasoline and other fuels sent inflation rising in 2005 at the fastest pace in five years, and hopes for a slower increase this year could be dashed if energy costs keep surging.

Consumer prices rose by 3.4 percent in 2005 with 40 percent of the increase blamed on the biggest jump in energy costs since 1990. Energy was up 17.1 percent this past year, reflecting gasoline prices that for a time soared above $3 a gallon and crude oil prices that topped $70 per barrel.

There has been hope that overall inflation will slow to around 2.5 percent in 2006. But that is based on a belief that after two years of big increases, energy prices will calm down, something that has not yet occurred.

more...

[ClintonTyree]

9. I talked to my Mom in Florida yesterday..............

she said her electric bill increased 40% from the previous month. "They have to pass the cost of the hurricane damages along to customers", was what she said. This is going to kill Florida's economy. A great many Floridians are retired folks on fixed incomes, they won't be able to absorb an increase like this.
These are the winter months, come summer when the temperature tops out at 100 degrees everyday who's going to be able to cool their homes and businesses? This does not bode well for the Florida economy, for the nation's economy as well.
I see nothing but dark times ahead. My Mom and I were talking about all of us moving in together (there's 3 of us "kids" and their families) just to keep everyone's head above water. A family commune, so to speak. I think that's what the future holds for many Americans.
All of this just so the rich can get richer at the little people's expense. There has to be a major political upheaval in this country and soon if things are ever going to return to anywhere near "normal" again. Corporate America is squeezing this country dry, when they're finished here they'll turn to other world economies and squeeze them dry. This is not going to end in a good way. The real struggle lays ahead and it's not going to be pretty.

[ozymandius]

5. Today's Reports

Jan 19 8:30 AM Building Permits Dec
Briefing Forecast 2100K
Market Expects 2100K
Prior 2163K

Jan 19 8:30 AM Housing Starts Dec
Briefing Forecast 2080K
Market Expects 2035K
Prior 2123K

Jan 19 8:30 AM Initial Claims 01/14
Briefing Forecast 320K
Market Expects 315K
Prior 309K

Jan 19 10:30 AM Crude Inventories 01/13
Briefing Forecast N/A
Market Expects N/A
Prior -2887K

Jan 19 12:00 PM Philadelphia Fed Jan
Briefing Forecast 14.0
Market Expects 13.0
Prior 12.6

[UpInArms]

13. 8:30 reports tumbling in:

8:30am 01/19/06 U.S. DEC. SINGLE-FAMILY BUILDING PERMITS FALL 5% TO 1.637M

8:30am 01/19/06 U.S. DEC. SINGLE-FAMILY STARTS FALL 12.3% TO 1.577M

8:30am 01/19/06 U.S. DEC. HOUSING STARTS LOWEST SINCE MARCH

8:30am 01/19/06 U.S. 2005 SINGLE-FAMILY HOUSING STARTS RECORD 1.714M

8:30am 01/19/06 U.S. 2005 HOUSING STARTS RISE 3.4% TO 2.065M

8:30am 01/19/06 U.S. DEC. BUILDING PERMITS DOWN 4.4% TO 2.068M PACE

8:30am 01/19/06 U.S. DEC. HOUSING STARTS FALL 8.9% TO 1.933M ANNUAL PACE

8:30am 01/19/06 U.S. CONTINUING JOBLESS CLAIMS DOWN 158,000 TO 2.53 MLN

8:30am 01/19/06 U.S. 4-WEEK AVG. JOBLESS CLAIMS DOWN 12,000 TO 299,000

8:30am 01/19/06 U.S. JOBLESS CLAIMS AT LOWEST LEVEL SINCE APRIL 2000

8:30am 01/19/06 U.S. WEEKLY JOBLESS CLAIMS DOWN 36,000 TO 271,000

[UpInArms]

14. U.S. Dec. housing starts sink 8.9% to 9-month low

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.3544827778-857798724&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

WASHINGTON (MarketWatch) - Construction on new homes in the United States fell 8.3% to a seasonally adjusted annual rate of 1.933 million, the lowest since March, the Commerce Department estimated Thursday. Economists surveyed by MarketWatch expected December housing starts would fall to a 2.04 million pace from 2.121 million in November. Building permits - a sign of future activity - dropped 4.4% to an annual rate of 2.068 million in December from 2.163 million in November. For all of 2005, housing starts rose 5.6% to 2.065 million, the most since the record 2.356 million in 1972. Building permits increased 3.4% to 2.141 million in 2005. Starts of single-family homes rose 6.4% in 2005 to a record 1.714 million.

[AnneD]

27. Synopsis...

surprised economist blame it on the weather:eyes:
since it is happening in DC it will get political attention:eyes:

[EuroObserver]

31. 3.4% or 5.6%

"8:30am 01/19/06 U.S. 2005 HOUSING STARTS RISE 3.4% TO 2.065M "

"For all of 2005, housing starts rose 5.6% to 2.065 million"

So which is it?

[UpInArms]

36. Housing starts - or construction - rose 5.6% in 2005- Building Permits

- or "planned" construction (not really constructed, just "permitted" to be constructed) - rose 3.4% in 2005

:hi:

[UpInArms]

15. seasonal adjustment factors can't completely smooth out the massive swings

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.3544589699-857798719&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits plunged to their lowest level in almost six year in the latest week, the Labor Department reported Thursday. The number of initial claims in the week ending Jan. 14 fell 36,000 to 271,000. It's the lowest level since the week ended April 15, 2000. The drop was unexpected. The consensus forecast of Wall Street economists was for claims to rise 7,000 to 316,000. The claims data are very volatile this time of year. The government's statistical seasonal adjustment factors cannot completely smooth out the massive swings in seasonal employment in December and January.

[ozymandius]

60. Just a thought -

Maybe someone should develop reports detailing how many people are being shoved off the unemployment rolls early to sweeten the results.

[UpInArms]

33. API Petroleum Inventories Report:

10:00am 01/19/06 U.S. 2005 GASOLINE IMPORTS UP 20% TO MORE THAN 1MBD: API

10:00am 01/19/06 U.S. 2005 U.S. PETROLEUM DELIVERIES DOWN 0.6%: API

10:00am 01/19/06 U.S. 2005 CRUDE OIL PRODUCTION DOWN 6.6%: API

10:00am 01/19/06 U.S. 2005 CRUDE OIL STOCKS UP 12% Y-O-Y: API

10:00am 01/19/06 U.S. DEC. GASOLINE STOCKS RISE 0.7% TO 206.8MLN BARRELS: API

10:00am 01/19/06 U.S. DEC CRUDE OIL STOCKS FALL 1.2% TO 320.1MLN BARRELS: API

[UpInArms]

40. U.S. crude oil production falls 6.6% in 2005

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.4204127083-857810382&siteID=mktw&scid=0&doctype=806&

WASHINGTON (MarketWatch) -- The United States imported record amounts of refined petroleum in 2005 to make up for the biggest decline in U.S. oil production since 1949, the American Petroleum Institute said Thursday. For all of 2005, U.S. crude oil production fell 6.6%, while imports of refined products rose 13.9% to a record 3.48 million barrels a day. Imports of crude oil were down 0.8% to 10 million barrels a day. Gasoline deliveries, a key indicator of demand, rose 0.4% in 2005, "a fraction of the rate" it averaged the three years before, the API said. In December, stocks of crude oil fell 1.2% to 320.1 million barrels, 12% above year-ago levels. Stocks of gasoline rose 0.7% in December to 206.8 million barrels, down 5% from a year ago.

[UpInArms]

54. Oil, gasoline stocks rise, but distillate supply falls: API

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.4448994097-857815065&siteID=mktw&scid=0&doctype=806&

SAN FRANCISCO (MarketWatch) -- The American Petroleum Institute said crude inventories rose 3.2 million barrels for the week ended Jan. 13, compared with the Energy Department's reported climb of 2.7 million. Motor gasoline inventories were up 2.9 million barrels, the API said. But distillate stocks fell 937,000 barrels. The government data had shown an increase of 900,000 barrels.

[UpInArms]

47. DOE: Natural gas supplies fall 46 billion cubic feet

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.4408301273-857814345&siteID=mktw&scid=0&doctype=806&

NEW YORK (MarketWatch) -- U.S. natural-gas stocks fell by 46 billion cubic feet for the week ended Jan. 13, the Energy Department reported Thursday. Analysts at IFR Markets expected a decline of 40 to 50 billion cubic feet. Total stocks now stand at 2.575 trillion cubic feet, 59 billion cubic feet higher than the year-ago level and 361 billion cubic feet above the five-year average of 2.214 trillion cubic feet, the government data said. February natural gas was off 24.4 cents at $8.45 per million British thermal units.

10:31am 01/19/06 DOE: NATURAL GAS SUPPLIES DECLINE 46 BILLION CUBIC FEET

[UpInArms]

55. U.S. crude and product supplies climb: Energy Dept

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.4406332755-857814291&siteID=mktw&scid=0&doctype=806&

SAN FRANCISCO (MarketWatch) -- The Energy Department said crude inventories rose 2.7 million barrels for the week ended Jan. 13 to total 321.4 million. That's 12% above the year-ago level. Distillate supplies rose 900,000 barrels to 134.7 million. Motor gasoline stocks were up 2.8 million barrels at 211.6 million barrels. February crude fell 43 cents at $65.30 a barrel. February unleaded gas shed 4.28 cents to $1.7305 a gallon. February heating oil lost 1.3 cents to $1.7425 a gallon.

[UpInArms]

68. Philly Fed drops like a rock to 3.3 vs 10.9 in Dec

12:03pm 01/19/06 U.S JAN. PHILLY FED EMPLOYMENT 11.7 VS. 7.9 IN DEC.

12:02pm 01/19/06 U.S JAN. PHILLY FED SHIPMENTS 18.6 VS. 9.4 IN DEC.

12:03pm 01/19/06 U.S JAN. PHILLY FED PRICES PAID 44.9 VS. 47.1 IN DEC.

12:02pm 01/19/06 U.S JAN. PHILLY FED NEW ORDERS 11.1 VS. 5.8 IN DEC.

12:00pm 01/19/06 U.S. JAN. PHILLY FED BELOW CONSENSUS 12.0

12:00pm 01/19/06 U.S. JAN. PHILLY FED 3.3 VS.10.9 IN DEC.

[UpInArms]

70. "Surprised Economists" report

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.5049687616-857825110&siteID=mktw&scid=0&doctype=806&

WASHINGTON (MarketWatch) - Manufacturing in the Philadelphia region increased at a slower pace in January, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed diffusion index fell to 3.3 in January from 10.9 in December. This is the lowest reading since last June. The index is only slightly above zero, which indicates expansion. The decline was unexpected. Economists were expecting the index to rise to 12.0, according to a MarketWatch survey. Despite the decline, new orders and shipments were stronger in January. Inflation pressures eased. Employment rose in the month.

[barb162]

84. Surprised ever since Bush got in that monthly reports are below

rosey projections

[ozymandius]

7. Bank Regions Report on Economic Conditions

Reports on economic conditions from the Federal Reserve's 12 regional bank districts. The survey was released Wednesday.

BOSTON: Retailers were generally upbeat about end-of-year sales. Manufacturers saw solid revenue growth. Residential real-estate markets in New England continued to slow; business contacts viewed this more as a return to normal rather than a "significant market correction." The pickup in overall economic activity generally did not translate into higher employment.

NEW YORK: The city's three-day transit strike appeared to have only "limited, localized impacts in a few areas." No signs of significant pickup in consumer prices, although manufacturers had to contend with price pressures. Labor market strengthened. Retailers reported mixed but generally favorable sales figures. The housing market displayed further signs of cooling.

PHILADELPHIA: Manufacturers reported increases in shipments and orders. Retail sales of general merchandise during holidays were better than last year. Activity at services companies expanded at a moderate pace. Businesses reported higher costs for raw materials. Energy-intensive companies indicated they will try to recoup higher energy costs through general price increases rather than through surcharges. Employers anticipated raising wages more in 2006 than last year.

-cut-

ATLANTA: Economic activity was solid in the region, which includes the hurricane-ravaged Gulf Coast areas. Retail sales generally were positive. Tourist activity increased. Housing markets moderated in some areas. The labor market grew firmer; demand for skilled workers in the construction industry was strong. Most businesses reported difficulties passing on cost increases because of competitive pressures. Still, energy surcharges persisted and higher costs were a concern. Storm-related rebuilding was under way in parts of Mississippi and Louisiana; activity in the New Orleans area remained focused on cleanup and demolition.

more...

[ozymandius]

8. Fed member says at least one more rate hike

BALTIMORE (Reuters) - The Federal Reserve has at least one more rate hike to go before halting its 18-month tightening campaign, but it may have a harder time giving hints after that, Fed officials said on Wednesday.

"The (December 13) minutes suggested that a couple more increases, a number of further increases, are in store. I think that means at least one. Beyond that, I don't really have anything to offer by way of guidance," Richmond Federal Reserve President Jeffrey Lacker told reporters after delivering a speech in Baltimore.

Lacker was referring to the minutes of the December 13 meeting of the Fed's interest rate-setting Federal Open Market Committee, of which he is a voting member this year.

"We're obviously going to take it a meeting at a time and do our best to assess what the appropriate rate is," he said. "From my point of view, I will be looking at whether the current rate and the expected trajectory of the rate is consistent with a balance in terms of current versus future resources."

more...

[UpInArms]

80. Fed's Guynn repeats vital to keep inflation at bay

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-01-19T174622Z_01_WBT004608_RTRIDST_0_ECONOMY-FED-GUYNN-URGENT.XML

AUGUSTA, Ga., Jan 19 (Reuters) - Federal Reserve Bank of Atlanta President Jack Guynn, repeating a speech he made last week, said on Thursday that U.S. growth was on track and policy-makers must keep inflation risks at bay.

Guynn, a voting member of the Fed's interest-rate setting committee this year, also said that as the central bank got closer to ending its 18-month campaign of raising interest rates, the direction of policy would become less clear.

"The closer we get, the less explicit we can be on that point. One reason is that we don't yet know the full economic effect of the policy moves we have already made," Guynn told the Augusta Exchange Club, according to the text of the speech.

[ozymandius]

10. Oil Prices Hover Under $66 Per Barrel

VIENNA, Austria - Crude-oil prices rose Thursday, reflecting concerns over the Iranian nuclear dispute and political unrest in Nigeria, despite expectations that the midweek U.S. petroleum supply snapshot would show gains in refined products.

The increases were also kept in check by continued U.S. warm weather as well as the resumption of oil shipments from Iraq to the Ceyhan terminal in Turkey.

-cut-

Worries of possible sanctions against Iran, OPEC's second-largest producer, for its nuclear ambitions and violence in oil-rich Nigeria helped drive oil prices up more than $2 a barrel on Tuesday.

-cut-

"After some profit-taking, we are now waiting for the inventory data," said Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures in Tokyo. "But the Nigerian crisis remains a serious issue."

more...

[EuroObserver]

12. Observing Oil

http://news.ft.com/cms/s/e7dd0552-88dd-11da-94a6-0000779e2340.html
In the weekly update on US oil stocks, crude stocks were forecast to have slipped 0.4m barrels on the back of lower imports, according to a Reuters survey of analysts. Distillate stocks were seen rising 2.3m barrels last week, and gasoline supplies adding 1.9m barrels. /more...

http://news.ft.com/cms/s/41b4b900-887d-11da-a25e-0000779e2340.html
China reiterated its calls for restraint on Thursday in the growing crisis over Iran’s nuclear programme and urged all parties to use diplomatic negotiations to find a peaceful solution.

US efforts to discipline Iran over its nuclear programme before the United Nations Security Council appeared less certain Wednesday night as European diplomats considered a new proposal from Russia which wants more time to pursue its own negotiations with the Islamic republic. /more...

http://news.bbc.co.uk/2/hi/africa/4619566.stm
Nigerian kidnappers' 5 demands:
* Local control of the region's oil wealth
* The payment of $1.5bn by Shell to Bayelsa State to compensate for pollution
* The release of separatist leader Mujahid Dokubu Asari, being held on treason charges
* The release of former Bayelsa State governor Diepreye Alamieyaseigha, accused of corruption and money-laundering
* The release of another ethnic Ijaw militant.
...
The kidnappings and explosion, the latest in a string of violent incidents in the troubled region, have slashed Shell's production there by some 220,000 barrels a day - almost 10% of Nigeria's average output of 2.6 million barrels.

Nigeria is Africa's leading oil exporter and the fifth-biggest source of US oil imports. /more...

--> Not much info available. Keeping very mum.

[EuroObserver]

83. China woos Africa with trade and aid

http://english.aljazeera.net/NR/exeres/66542E26-A2F7-4319-A4DF-B528E18CF1C4.htm
(Li Zhaoxing, the Chinese foreign minister), who is on a six-nation tour of Africa aimed at increasing Beijing's economic and diplomatic presence on the continent, signed a 30 million yuan ($3.72 million) donation with his Malian counterpart Moctar Ouane as part of an accord for economic and technological co-operation.

Africa's third-largest gold producer after South Africa and Ghana, Mali is one of the world's poorest nations, with more than 90% of the population living on less than $2 a day.

After visiting Cape Verde and Senegal, which resumed diplomatic ties with China in October, the Chinese foreign minister will now head to Liberia and major oil producers Nigeria and Libya.

Mali is also desperate to become an oil producer and has given exploration rights to several companies, including Chinese state-run oil and gas firm Sinopec Corp.
...
China has steadily built up its influence in the world's poorest continent since the 1960s and 1970s when it offered its support to newly independent African states and threw its weight behind independence movements.

Beijing says it offers economic aid and co-operation "without strings", in contrast to Western countries which often demand commitments from poor African countries to fight corruption and improve human rights. /more...

[UpInArms]

39. Feb Crude @ 65.50 bbl - Feb NatGas @ $8.58 mln btus

10:04am 01/19/06 FEB CRUDE FALLS 23C TO $65.50/BRL IN EARLY NY TRADING

10:04am 01/19/06 FEB NATURAL GAS DOWN 11.4C AT $8.58/MLN BTUS

[UpInArms]

96. Feb Crude closes @ $66.83 bbl - Feb NatGas @ $8.905 mln btus

3:01pm 01/19/06 FEB CRUDE CLOSES AT HIGHEST LEVEL SINCE LATE SEPTEMBER

3:01pm 01/19/06 FEB CRUDE UP $1.10 TO CLOSE AT $66.83/BRL AFTER $66.95 HIGH

2:54pm 01/19/06 FEB NATURAL GAS REBOUNDS FROM A SEVEN-MONTH LOW OF $8.45

2:54pm 01/19/06 FEB NATURAL GAS CLOSES UP 21.1C, OR 2.4%, AT $8.905/MLN BTUS

[EuroObserver]

100. ¡Ojo!

:bounce:

[ozymandius]

11. Bill Frist and Tom Delay had day-traders working out of their offices

from AmericaBlog

BREAKING: Rep. Slaughter says Bill Frist and Tom Delay had day-traders working out of their offices

Oh my. She just said this on Air America's "The Majority Report."

You heard it here (well, there) first: Listen to the excerpt of the show on Windows Media format or mp3.

http://americablog.blogspot.com/2006/01/breaking-rep-slaughter-says-bill-frist.html

[JNelson6563]

20. Can't wait to hear Rethug pundits dismiss this as nothing

and you know they'll try.

Will the corporate media cover this? Place your bets here Marketeers!

Julie

[wordpix]

63. OMG, what will rethugs think of next? unfuckingbelievable

[ozymandius]

82. Democrats want ethics committee to probe 'day trading' allegations

After a comment by Rep. Louise Slaughter (D-NY) on Air America's Majority Report Wednesday evening, RAW STORY has learned that House Democrats are pushing the ethics committee to investigate allegations of congressional offices providing privleged information to Wall Street investors.

An article that ran below the radar in November revealed the "day trading" practice, in which little-known firms use sources in Congress to glean information relevant to publicly-traded stocks. As Washington turns its eyes to fallen conservative superlobbyist Jack Abramoff, new focus has come to other allegations of congressional wrongdoing.

Independently, RAW STORY has received word that such activity -- which involves passing on information to stock brokers on how the House is going to vote on legislation that affects large companies, such as Defense Appropriations bills -- is a practice that may go beyond a single individual or congressmember's office. Individuals on Capitol Hill have pointed to others already ensnared in the Abramoff probe as possibly having engaged in "day trading."

RAW STORY has acquired a letter sent by Rep. Brian Baird (D-WA) in November of last year to the House Ethics Committee requesting a formal investigation into the matter. Meghan O'Shaughnessy, Baird's press secretary, confirmed that the committee had received the letter but has not responded to the Democrats' request.

http://rawstory.com/news/2005/Democrats_want_ethics_committee_to_probe_0119.html

[Roland99]

85. Beat me to it. This feeds into my belief the admin is propping the markets

[UpInArms]

16. daily dollar watch

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

Last trade 89.52 Change +0.17 (+0.19%)

Dollar Rises As Foreign Investors Fund Trade Deficit

http://www.dailyfx.com/story/dailyfx_financial_markets_headlines/dailyfx_financial_markets_headlines/6144_dollar_rises_as_foreign_investors_fund_trade.html

It seems expectations running into today’s releases of TICS and CPI were low, with the four majors spending most of the Asian and European session moving higher against the US dollar. The benchmark currency dug quite a hole to climb out in the off-session hours. After significant early New York session rallies across all four pairs, the British Pound was the only one with any distance from the previous session’s close. The dollar advanced 50-pip’s from the previous close to 1.7619 at 16:45 GMT. The Euro, Japanese Yen and Swiss Franc were much closer. The Euro was trading at 1.2102 with a 2 pip advantage over the dollar, the Franc was even at 1.2797 and the Yen was 13 pips lower against the dollar at 115.25; all by 16:45 GMT.

The return in the dollar from pre-session losses was a quick one after a Treasury Department report revealed net foreign investment in US assets eased less than expected. What was surprising, however, was the little volatility that followed the posting of December’s inflation data half an hour prior to the TICS. According to the indicator, prices month-over-month fell for the second consecutive month by 0.1 percent on the back of a near record 0.6 percent decline in prices. The annual measure also slowed, for the fourth consecutive month, to 3.4 percent price growth in December against forecasts of an increase to 3.6 percent. Despite the indicator’s effect of squashing speculation of many more rate hikes from the Fed Reserve, the annual measure is still beyond the banks tolerance level and there is likely at least two more hawkish shifts in policy in the near future. Instead, the market moving indicator for the dollar came from the better than expected net capital inflows into U.S. assets in November. Net foreign holdings of US stocks, bonds and treasuries rose $89.0 billion from a revised $104.2 billion October figure, yet was still better than expectations of an $85 billion increase in holdings. The net influx was mainly bolstered by a record net $54.6 billion purchase of Treasuries as investors sought high returns, the result of 13 consecutive rate hikes, with relatively little risk. The sway the indicator held for the session stemmed from the month’s $64.2 billion trade deficit, as many feared the economy’s ability to attract enough investment to cover the ever present trade gap. With the fears over trade extinguished, the market will move onto tomorrow’s Philly Fed and Friday’s University of Michigan confidence number for fundamentally stimulated price action for the rest of the week.

US stocks fell for the fourth straight session as the disappointing earnings reports trend continued with Intel and Yahoo. The Dow Jones Industrial Average slumped 59.54 points for a 0.55 percent decline to 10,836.78 by 17:30. A 0.65 percent drop, or 8.40 points, in the S&P 500 brought the index to 1,274.53. The biggest decline amongst the three came from the technology laden NASDAQ Composite which lost 30.03 points, or 1.30 percent, to 2,272.66. What was one of the biggest contributors to indices up until yesterday, the tech sector was marred in equities trading today by dour earnings from industry leaders. Intel earned a downgrade after announcing fourth quarter profits fell short at $0.40 per share. Shares of the chipmaker fell $2.88 to $22.64. Internet search engine giant, Yahoo, saw shares plunge $4.38 to $35.73 on a similar announcement of profits short at $0.16.

...more...

[UpInArms]

17. Printing Press Report:Fed adds banking reserves via 14-day system repos

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-01-19T132452Z_01_N19373299_RTRIDST_0_MARKETS-FED-OPERATIONS.XML

NEW YORK, Jan 19 (Reuters) - The Federal Reserve said on Thursday that it added temporary reserves to the U.S. banking system through 14-day system repurchase agreements.

The benchmark fed funds rate last traded at 4.25 percent, the Fed's current 4.25 percent target for the overnight lending rate.

Further details of the operation are available at: http://www.ny.frb.org/markets/omo/dmm/temp.cfm

[UpInArms]

18. Treasurys losses mount after housing, jobless data

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.3637802778-857800470&siteID=mktw&scid=0&doctype=806&

NEW YORK (MarketWatch) - Treasury prices fell, sending yields higher, early Thursday after mixed data pointing toward a possible slowing of the housing market, alongside possible improving labor conditions. The Commerce Department said housing starts last month fell to a nine-month low of 1.933 million. Economists surveyed by MarketWatch expected December housing starts would fall to a 2.04 million pace from 2.121 million in November. Separately, the Labor Department said initial jobless claims in the latest week plunged by 36,000 to a seasonally adjusted 271,000. The yield ($TNX) on the 10-year Treasury note rose to 4.371% from 4.362% before the news.

[UpInArms]

30. Printing Press Rept 2:Fed adds banking reserves via overnight system repos

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-01-19T143549Z_01_N19342997_RTRIDST_0_MARKETS-FED-OPERATIONS-UPDATE-1.XML

NEW YORK, Jan 19 (Reuters) - The Federal Reserve said on Thursday that it added temporary reserves to the U.S. banking system through overnight system repurchase agreements.

Earlier, the Fed added $8.0 billion in temporary reserves to the system through 14-day system repurchase agreements.

The benchmark fed funds rate last traded at 4.25 percent, the Fed's current target for the overnight lending rate.

Further details of the operation are available at: http://www.ny.frb.org/markets/omo/dmm/temp.cfm

[EuroObserver]

103. Foreign central banks boost U.S. debt holdings-Fed

http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh92039_2006-01-19_21-30-54_nat001966_newsml
Thu Jan 19, 2006 04:30 PM ET
NEW YORK, Jan 19 (Reuters) - Foreign central banks were net buyers of U.S. debt in the latest week, with purchases of agency securities slightly offsetting a decline in Treasury holdings, Federal Reserve data showed on Thursday.

The Fed said its overall holdings of Treasury and agency debt kept for overseas central banks rose $562 million in the week ended Jan. 18, to stand at $1.536 trillion.

The breakdown of custody holdings showed overseas central banks sold $1.819 billion in debt issued by the Treasury, but bought $2.382 billion in securities from government-sponsored agencies like Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) .

Overseas central banks, particularly those in Asia, have been huge buyers of U.S. debt in recent years. They own over a quarter of marketable Treasuries.

The full Fed report can be found on:

http://www.federalreserve.gov/releases/h41/
/more...

How long can this go on?

[EuroObserver]

104. Who is selling dollars?

Looking at today's graphs, again I conclude that we see examples of directed dollar selling trends during US (Eastern) morning working hours

[UpInArms]

21. The congressman & the hedge fund

http://www.usatoday.com/news/washington/2006-01-19-cerberus-cover_x.htm

One day after a New York investment group raised $110,000 for Republican Rep. Jerry Lewis, the House passed a defense spending bill that preserved $160 million for a Navy project critical to the firm. The man who protected the Navy money? Lewis.

<snip>

Both Lewis and the investment company, Cerberus Capital Management, benefited from the relationship. Eighteen months after the fundraiser and the House vote, Lewis won the chairmanship of the Appropriations Committee. He acknowledges that the fundraising efforts of Cerberus "played a very significant role" in winning the post. The ties between Cerberus and Lewis, a 14-term congressman from Redlands, Calif., have not been publicly examined before.

<snip>

None of the people connected to Cerberus had ever given money to either Lewis or his political action committee before the fundraiser or the vote on the bill Lewis sponsored, a USA TODAY analysis of their political contributions shows.

<snip>

Often called a "vulture fund," Cerberus invests mainly in companies in or on the verge of bankruptcy, buying those firms' bonds in the hopes of converting them into cash or stock in a revived company. In 2000, the company hired former vice president Dan Quayle as a top executive.

...more...

[UpInArms]

22. Hedge fund oversight discussed - Quayle spokesman denies he lobbied

http://64.233.167.104/search?q=cache:SAGnwvZlwSEJ:www.freep.com/money/business/quayle23e_20040623.htm+%22Cerberus+Capital+Management%22+republican&hl=en&client=opera

Former U.S. Vice President Dan Quayle met this month with Securities and Exchange Commission Chairman William Donaldson to discuss hedge fund regulation.

Craig Whitney, executive vice president of Quayle & Associates, denied the former vice president was lobbying on behalf of the $800-billion industry's campaign against greater government oversight. Quayle is an adviser to Cerberus Capital Management LP, which opposes the SEC's plan to increase its scrutiny of the private partnerships for wealthy investors.

Whitney said Quayle wasn't trying to persuade Donaldson to weaken his support for hedge fund regulation. "All of the lobbying we do on behalf of Cerberus is handled by me," Whitney said. SEC spokesman Matt Well said the meeting in Washington took place June 10, declining further comment.

<snip>

New York-based Cerberus, which manages about $9 billion, employs Quayle & Associates and the Washington law firm Patton Boggs as lobbyists. Quayle, 57, served with former President George Bush. Along with running his own Scottsdale, Ariz., consulting firm, Quayle provides strategic advice to Cerberus and has the title of chairman of Cerberus Global Investments, said Whitney.

...more...

[AnneD]

29. I am so glad the Quayle was able to find another job...

it can be so hard for those with limited skills to support themselves. They need extra community support.:sarcasm:

[UpInArms]

24. The mind-boggling rise of Cerberus

http://www.businessweek.com/magazine/content/05_40/b3953110.htm

excerpt:

Cerberus has been shopping up a storm for a year now, seemingly coming out of nowhere to build a corporate empire. With more than $16 billion of investors' assets on its books -- almost double what it had in 2003 -- it has bought 28 companies and snapped up stakes of at least 15% in an additional 15 over the past decade. According to BusinessWeek estimates, Cerberus controls companies that ring up at least a combined $30 billion in annual sales, more than McDonald's, 3M (AXP ), Coca-Cola (KO ), or Cisco Systems (CSCO ). With more than 106,000 employees, Cerberus companies have a bigger payroll than Exxon Mobil Corp. (XOM ). Its trophies include 226 Burger King restaurants, the National and Alamo car-rental chains, building-products maker Formica Corp., and the old Warner Hollywood Studios, where blockbusters such as Basic Instinct were made. Its companies connect BlackBerrys, provide medical therapy, and set up military-base camps in Iraq.

PICKUP TRUCKS AND BUD
The mind-boggling rise of Cerberus -- from a fringe vulture fund started with a grubstake of about $10 million in 1992 to a Wall Street powerhouse -- has been driven by its enigmatic boss, Stephen A. Feinberg, 45. Like other hedge-fund managers and buyout kings, Feinberg has a penchant for secrecy, although his is more developed than most. While co-founder William L. Richter deals with investors, and lieutenants such as former Vice-President Dan Quayle jet around the globe to seal deals, the mustached Feinberg keeps very much to himself in a nondescript office on the 22nd floor of a high-rise on Manhattan's Park Avenue. The walls are bare save for a lone photograph of a motorbike that is propped up against his window; a black kid-size motorbike with training wheels -- a gift from an outside adviser -- is parked next to his desk.

<snip>

However six-pack his origins, Feinberg now moves in rarefied circles. Defense Secretary Donald H. Rumsfeld was an investor in 2001, according to government ethics disclosures. Hedge-fund legend Michael Steinhardt is a shareholder and director in Cerberus' lending arm, Ableco LLC. Michael Dell's private-investment firm has joined with Cerberus and home-builder Lennar Corp. to develop upscale residential communities on the former El Toro Marine Corps Air Station in Irvine, Calif. His roster of investors also includes public pension funds such as TIAA-CREF and the California State Teachers' Retirement System.

<snip>

This is a long way from traditional hedge-fund or even vulture-fund investing. In fact, Feinberg is breaking important new ground in the hedge-fund business. While many funds stick to a single, sharply focused strategy, Feinberg casts a wide net. Not content simply to trade securities the way other funds do or to assemble assorted companies for resale in the same way as many buyout firms, he's forging what looks more like an integrated industrial conglomerate than an investment firm. His secret weapon: a deep bench of 80 seasoned executives who troll the world for investment opportunities and stand ready to parachute in and run the companies he buys. Put all the elements together, says David M. Rubenstein, Carlyle Group co-founder and managing director, and "Feinberg may have perfected a new business model."

...more...

[AnneD]

35. Hedge fund to unveil revised McD plan next week

"Hedge fund manager William Ackman said he plans to unveil a revised proposal to split up McDonald’s Corp. next week, setting off what’s expected to be a battle to win support from the restaurant chain’s franchisees.

Mr. Ackman, whose Pershing Square L.P. hedge fund holds shares and options equal to 4.9% of McDonald’s common stock, rattled the Oakbrook—based company in November by proposing the company spin off a 65% stake in its company-operated stores and borrow $15 billion to finance a massive share repurchase to help boost the company’s stock price.

McDonald’s rejected Mr. Ackman’s proposal saying it would threaten the company’s relationship with the people who operate 22,000 of its 31,000 restaurants, adding the plan amounted to ‘financial engineering.’

But Mr. Ackman vowed to listen to McDonald’s objections and revise his plan to unlock what he believes is the tremendous value in real estate underneath McDonald’s restaurants. The revisions are expected to be “franchisee friendly.” Support from this group would give Mr. Ackman strategic leverage in dealing with McDonald’s since the chain would not want to be at odds with a majority of its store owners."
<snip>

http://www.chicagobusiness.com/cgi-bin/news.pl?post_date=2006-01-10&id=19081

Is it just me or is this rabid cannibalism. I don't think I am too crazy about hedge funds actually telling business what to do. They don't have too good of a track record of running their OWN businesses and are only interested in squeezing maximum profits.

This seems to be a variation on a theme. Remember in the early 80's when we had a lot of takeovers (hostile or not). The sole reason was to buy the companies and sell off assets. I liken it to a burglar going to a bank and taking out a loan to purchase tools to commit the crime. When ask what he has for collateral- the thief tells the banker he doesn't have collateral now but once the breaks into the house, he'll be able to pay off the loan. SS DD!

[UpInArms]

94. Fund Cerberus sues Japanese newspaper for libel

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-01-19T191608Z_01_N19308769_RTRIDST_0_FINANCIAL-CERBERUS-MAINICHI.XML

NEW YORK, Jan 19 (Reuters) - U.S. hedge fund Cerberus Capital Management sued Japanese newspaper Mainichi Shimbun for libel on Thursday, seeking $100 million in damages for a report linking Cerberus to Yakuza organized crime, court documents show.

The suit claims that a Jan. 12 story published on the front page of Mainichi Shimbun, one of Japan's largest newspapers, falsely accused the Cerberus real estate affiliate Showa Jisho of land-sharking, or strong-arming small property owners to sell their land. A copy of the suit was obtained by Reuters.

The suit said land-sharking, or jiage, is "an extremely pejorative and defamatory term" and that the report was harmful to Cerberus's reputation.

...more...

curiouser and curiouser :eyes:

[EuroObserver]

101. AP: Investment Group Sues Japanese Media Co.

http://asia.news.yahoo.com/060119/ap/d8f7utfoa.html
A message seeking comment from the Tokyo-based newspaper was not immediately returned Thursday.

Lots of background in the AP piece .:sarcasm:

[UpInArms]

26. pre-opening blather

09:15 am : S&P futures vs fair value: +3.8. Nasdaq futures vs fair value: +9.0.

09:00 am : S&P futures vs fair value: +3.7. Nasdaq futures vs fair value: +8.5. Futures indications are off their best levels of the morning but still trade comfortably above fair value, proposing an upbeat start for the indices. However, while the majority of Q4 earnings reports continue to check in above expectations, some overly optimistic forecasts resulting in relatively disappointing guidance last night from AAPL and EBAY have called attention to the reality that earnings growth will slow in 2006.

08:34 am : S&P futures vs fair value: +4.3. Nasdaq futures vs fair value: +9.5. Still shaping up to be a positive start for the cash market as futures indications continue to strengthen heading into the open despite weaker than expected housing data. Dec. housing starts fell to 1.933 mln units (consensus 2.04 mln) while Dec. building permits fell to 2.068 mln units (consensus 2.10 mln); initial claims fell to 271K (consensus 315K). Bonds, which were down 6 ticks ahead of the data, have weakened, as the 10-yr note is now down 11 ticks to yield 4.37%.

08:00 am : S&P futures vs fair value: +2.8. Nasdaq futures vs fair value: +4.0. Futures market versus fair value suggests stocks will bounce back following two days of consolidation. Aside from a rebound in overseas markets (e.g. Nikkei 225 +2.3%) calming investors' nerves, better than expected earnings this morning (i.e. PFE, MER, UNH, UNP, HDI, DHI and BZH) and reports that Walt Disney (DIS) is in "serious discussions" to acquire Pixar Animation Studios (PIXR) have also helped improve underlying sentiment.

[UpInArms]

28. GOP Senator Burns to hold birthday bash at lobbying firm

http://www.missoulian.com/articles/2006/01/19/news/local/news03.txt

Sen. Conrad Burns, R-Mont., will celebrate his 71st birthday next week in Washington, D.C., within the walls of Cassidy & Associates - one of the most powerful lobbying firms in the nation's capital.

Burns' Jan. 25 birthday will provide the stage for a campaign fundraiser where costs to attend or host range from $500 to $2,000.

“Cassidy & Associates is a well-respected firm and we are appreciative of their allowing the campaign to use their conference room for this event,” said Mark Baker, Burns' campaign chairman, in a statement released Wednesday. “This fundraiser is no different than others the campaign has had in D.C.”

<snip>

Burns accepted nearly $150,000 in campaign donations from Abramoff, his clients and associates. The Montana senator, who also sits on the Senate Appropriations Committee, also remains under fire for directing a $3 million school construction grant to the Saginaw Chippewa Tribe of Michigan, a former client of Abramoff.

Additionally, Abramoff's clients in the Northern Marianas Islands benefited from Burns' legislative actions. And an Associated Press review found that lobbyist Todd A. Boulanger attended one of the Northern Marianas meetings with Burns and his staff. Boulanger now works for Cassidy & Associates.

...more...

These people are disgusting in their open sale of our government. :grr:

[UpInArms]

32. Feb Gold @ $553.90 oz

9:48am 01/19/06 FEB GOLD CLIMBS $9.40 TO $553.90/OZ IN MORNING TRADING

9:48am 01/19/06 MARCH COPPER TAPS RECORD HIGH OF $2.128/LB, UP 0.8C

[OrangeCountyDemocrat]

34. GOLD!!!

Reports of my death have been greatly exaggerated.

Mark Twain

[UpInArms]

46. LOL! Reporting on the death of gold: Gold seen at average $521 in first ha

Gold seen at average $521 in first half: Survey

SAN FRANCISCO (MarketWatch) -- A pause in investment growth and a "dramatic slump" in jewelry demand will likely lead gold prices to average $521 an ounce in the first half of 2006, GFMS Ltd. said Thursday in an update to its Gold Survey 2005 report.

The average falls below current levels, which have been trading in the $530s to $540s in January, the London-based precious-metals consultancy said. On the futures market, prices tapped a 25-year high of $561.50 on Tuesday.

Against this backdrop, the average figure may sound "a bit pessimistic," said GFMS Executive Chairman Philip Klapwijk at a seminar in Toronto, but "many would see the market's ability to sustain prices comfortably above $500 as something of an achievement."

And "we're not ruling out further, possibly hefty, gains in the year," he added.

Most of the forces feeding investment in the gold market, including the chance for a fall in the dollar, still exist, he said. But "a fresh impetus is needed for a major hike in the inflow of funds," such as another "bull run" in energy prices.

...more...

[OrangeCountyDemocrat]

50. So Even Metals Consultants Are Bashing Gold?

It's almost like these "consultants" who do these things for a living, are living inside some kind of bubble. They're trying to have it both ways. Wonder what would happen to the SM if gurus on the news shows were to start questioning stocks? It's like they're saying...."Well, Gold is rising, BUT....unless this, this and this happen, it will start to correct again."

I truly am beginning to think that is in many ways a different world, and below the surface, we're a pretty fu&*ed up country. Which is why I want to continue buying what I consider to be the only safe investment right now. Whatever happens elsewhere, I think Gold will continue to rise. $600 by January, and $700 by March. At a minimum.

[EuroObserver]

41. Gold 554.00 and rising

http://www.goldcalculator.com/page0028.htm

NY Spot prices at 10:13ET

Gold 554.00 +10.40
Silver 8.99 +0.20
Platinum 1031.00 + 14.00
Palladium 269.00 +0.00
Rhodium 3040.00 +0.00

http://www.marketwatch.com/news/story.asp?siteid=bigcharts&dist=news&guid=%7B7E9EF40A%2D53FA%2D4FE5%2DB6A6%2DDEB3107BC4DE%7D
Gold was also caught up in the turmoil in the Japanese stock market on Wednesday, where traded was ended before its regularly-scheduled close as a flood of orders threatened to overwhelm the Tokyo Stock Exchange's systems.
...
Traders said gold was hit as funds liquidated futures positions in order to meet margin calls on equity positions.
...
"The longer-term outlook for gold never looked in doubt amid the backdrop of high oil prices and associated geopolitical concerns concerning Iran and Nigeria, in addition to constrained output and soaring physical demand from the major emerging economies of India and China," said economists at Action Economics. /more...

Gold supply expected to contract in first half of 2006
LONDON (Mineweb.com) -- In its second update of the Gold Survey 2005, GFMS, the London-based precious metals consultancy, estimates that net official sales during 2005 were at the highest level on record, but more significantly that net sales will drop substantially in the first half of 2006.

Elsewhere on the supply side mine production was up by 30 tonnes while de-hedging amounted to 195 tonnes, meaning that net mine supply actually increased by 263 tonnes to 2,299 tonnes against 2,036 tonnes. Scrap return was up slightly, at 840 tonnes against 834 tonnes in 2004. This takes total net supply from these components for 2005 to 3,802 tonnes from 3,341 tonnes in 2004.

The high level of net central bank sales was a function of the higher sales volume coming through under the second Central Bank Gold Agreement, along with the collapse of gross purchases plus some opportunistic sales from outside the CBGA.
...
Gross sales from non-CBGA countries in 2005 remained essentially flat, while gross purchases collapsed. Looking forward, GFMS expects gross non-CBGA sales to decline and gross purchases to increase as the “anti-gold” sentiment that has been pervading the sector in recent years appears to have moderated. This is a result of the weakening of the US dollar and a more aggressive US foreign policy that has made some developing nations wary of holding too much of their reserves in US instruments, along with the improved performance of both gold and alternative investments in general.

Gross sales are estimated at 677 tonnes with France the biggest seller at 144 tonnes through to November, followed by the Netherlands with 76 tonnes over the same period. Switzerland has now completed its sales programme, while Spain, Portugal, Belgium, Sweden, Germany and Austria were all sellers at a smaller scale. In addition the European Central Bank sold 47 tonnes of its own reserves. Outside the CBGA the largest declared sale came from the Philippines.

Gross purchases were substantially down during 2005 against 2004, reflecting the fact that Argentina had been a sizeable buyer in 2004 but not last year. Gross purchases were only 14 tonnes, coming in the main from Mongolia, Kazakhstan and Belarus, while other nations, largely in the developing sector, bought small amounts. /more...

[EuroObserver]

74. Gold bounces from one-week low, may gain further (London)

http://za.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2006-01-19T163454Z_01_ALL959819_RTRIDST_0_OZABS-MARKETS-PRECIOUS-20060119.XML
Thu Jan 19, 2006 6:34 PM GMT8
LONDON (Reuters) - Gold prices gained 2 percent on Thursday, recovering from a fall to a one-week low in Asia as upbeat sentiment prompted funds managers to pour more money into the safe-haven metal.

The market recovered from jitters in Japanese stocks and gold futures markets and was seen targeting this week's 25-year peak of $564 an ounce, they said.

"The gold market has seen some massive swings, and volatility has been very dangerous. However, profit-taking has always been followed by a very quick rally," a dealer in London said.

"Typically in a bull market, negative news is ignored and positive news encourages more buying. The funds like it, the funds are making money and I think funds will continue to invest in gold," he said.

Spot gold rose as high as $554.80 an ounce after dropping to $540 in Asian trade. It was quoted at 552.50/553.30 by 1543 GMT, compared with $543.60/$544.40 late in New York on Wednesday, when it fell nearly $10.
...
Investors remained bullish because of the dollar's weak outlook, Middle East tensions and strong oil prices.

Industry sources said a large commodity fund in the United States was sniffing around the market to buy.

The market also absorbed news of an audio tape aired by Al Jazeera TV that was said to be of Osama Bin Laden warning of new attacks inside the United States while also offering a conditional truce with Americans.

A trader said: "I think that people will rather act on events."

Several polls and comments by industry experts suggested gold had room for further price gains this year. /more...

[UpInArms]

79. Gold futures climb as much as $12 an ounce - @ $556.20 oz

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.5226655208-857828139&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

SAN FRANCISCO (MarketWatch) -- Gold futures rose as much as $12 an ounce Thursday, reversing the prior session's losses on the heels of concerns about volatility in energy prices and news of an al-Qaida threat on the U.S. February gold was last trading up $11.70 at $556.20 an ounce. Prices are still trading below the 25-year high of $561.50 from Tuesday. For now, the "path of least resistance continues to point uphill," with the immediate range to consider being $545-$565, said Jon Nadler, an investment products analyst at Kitco.com. "Taking out $568 will signal another stage altogether."

[EuroObserver]

89. Gold 558.20 +2.69%

SPOT MARKET IS CLOSED
opens in 22 mins.
Jan 19, 2006 13:30 NY Time
Bid/Ask 558.20 - 558.90
Low/High 546.40 - 559.30
Change +14.60 +2.69%
30daychg +64.40 +13.04%
1year chg +135.80 +32.15%

[OrangeCountyDemocrat]

92. GOLD - 1year chg +135.80 +32.15%

Up 32% in 1 Yr., but you won't hear much from the idiots on cnbc, and financial analysts paid to track patterns such as this. They would much rather spend their time discussing the stock market, which is up a few percent in the last year.

[ozymandius]

37. stagnant start to the day

10:07
Dow 10,862.94 +8.08 (+0.07%)
Nasdaq 2,290.81 +11.17 (+0.49%)
S&P 500 1,279.81 +1.88 (+0.15%)
10-Yr Bond 43.69 +0.29 (+0.67%)
NYSE Volume 348,847,000
Nasdaq Volume 418,962,000

09:40 am : Market rebounds nicely following two days of consolidation, as strong earnings and fresh M&A activity help stocks regain some upside momentum. Better than expected earnings from blue chips like Pfizer (PFE 24.82 +0.73), Merrill Lynch (MER 70.50 +0.65), United Health Care (UNH 61.35 +0.13) and Advanced Micro Devices (AMD 37.62 +4.25) have provided early buying support while reports that Disney (DIS 25.05 -0.17) is in "serious discussions" to acquire Pixar (PIXR 58.54 +1.28) and that an investment consortium has submitted a new $9.6 bln bid for Albertsons (ABS 24.09 +1.25) have also improved underlying sentiment. DJ30 +20.13 NASDAQ +13.32 SP500 +3.54 NASDAQ Vol 140 mln NYSE Vol 48 mln

[UpInArms]

38. blather

(edited to just the 10:00 blather)

Hiya Ozy! :hi:

10:00 am : Major indices are off their early highs but 8 out of 10 economic sectors still trade in positive territory. Pacing the way higher has been Technology, as AMD's strong Q4 earnings and improved margins alongside several analyst upgrades within the semiconductor space have lit a fire under chip stocks. Consumer Discretionary has also shown relative strength, benefiting from a 50% dividend increase from Home Depot (HD 41.95 +0.26) and upgrades in the retail group (i.e. EBAY, BBY and SKS). Energy, however, has recently slipped below the flat line as crude oil futures continue to weaken heading into weekly inventories data (10:30 ET) while the Industrials sector has joined oil stocks to the downside amid weakness in conglomerates and aerospace.DJ30 +11.83 NASDAQ +11.04 SOX +2.7% SP500 +2.17 NASDAQ Dec/Adv/Vol 884/1563/374 mln NYSE Dec/Adv/Vol 1092/1634/198 mln

[UpInArms]

42. PIEHOLE PUKEFEST ALERT:

10:20am 01/19/06 BUSH: ECONOMIC GROWTH BEST WAY TO CUT DEFICIT

10:14am 01/19/06 BUSH: TAX CUTS INSULATED ECONOMY AGAINST DOWNTURNS

:puke::puke::puke::puke::puke::puke::puke::puke::puke::puke::puke::puke::puke::puke:

[OrangeCountyDemocrat]

43. Had To Turn Off CNBC For 10 Minutes Because Of King Shrub. nt

[UpInArms]

52. One-Trick-Pony:Bush: Economy 'robust;' urges permanent tax cuts

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.446367581-857815334&siteID=mktw&scid=0&doctype=806&

WASHINGTON (MarketWatch) -- President Bush on Thursday defended his economic record, calling the economy "robust" and repeating his call for Congress to make his first-term tax cuts permanent. Bush said the federal deficit is a problem, but argued that rescinding any of the tax cuts would be counterproductive. "The best way to solve the deficit is to grow the economy, not to raise taxes," Bush said.

[OrangeCountyDemocrat]

56. Terra Terra TAX CUTS Terra OSAMA Freedom TERRA nt

[donkeyotay]

65. Let's outsource that mofo one-trick pony and replace him with a parrot

Bwwwrak! Strong leader.
Bwwwrak! Strong economy.
Bwwwrak! Freedom is on the march.
Bwwwrak! Heckuva job. Heckuva job.

I'm sure we could get these services for less.

[ret5hd]

72. The Great Mogambo's reply to your insult yesterday:

Dear ret5hd,

I am flattered and amazed that anyone even knows who I
am! So, as the
saying goes, "Anything, as long as they spell my name
right!" Hahaha!

My thanks to you both!

-Richard

(i guess my belief that he was going to deliver a dose of "The Great Mogambo Can O' Whoop-Ass"(TGMCOWA) was mistaken)

[donkeyotay]

78. Oh yeah? Well you tell Magomba, mogomo whatever his name is

...just kidding. Thanks.
:hi:

[AnneD]

75. Have you noticed ....

he does have a high pitched whine to his voice esp when he is worked up. It is somewhere between a cockatoo and minah bird. And you forgot...terra terra, 9/11, 9/11. He has seemed to forgotten WMD.

[saigon68]

95. You forgot-- Brownie is doing a hell of a job

LOL

[ozymandius]

58. No Trickle-Down in Bush's Economy

by bonddad

Thu Jan 19, 2006 at 06:29:44 AM PDT

Where is all this money going? The economy is growing at a strong clip - over 3% for the last 11 quarters. We should be is boomtime! Everyone should be getting a piece of the economic gains. Unfortunately, this is not the case. The profits from this expansion are staying at the corporate level, not translating into higher wages for the average employee.

n 2001, total national income was 8.9 trillion and total compensation to employees was 5.9 trillion, making employee compensation 66% of total national income. In the third quarter of 2005, total national income was 10.7 trillion total personal compensation was and 7.1 trillion. This makes personal compensation 66%. (And you wonder why personal wages after inflation increased a paltry 3% over the last 5 years). Using the same national income figures in 2001 of 8.9 trillion, corporate profits were 767 billion, making corporate profits 8.6% of national income. In the third quarter of 2005, total national income was 10.7 trillion and total corporate profits were 1.302 trillion, making them 12% of total national income. Also note that since January 2001, corporate profits have increased 69% while total personal compensation has increase 20%.

more...

http://dailykos.com/storyonly/2006/1/19/82944/7441

[UpInArms]

44. Terra! Terra! Terra! bin Laden threat forthcoming!

US blue-chip stocks cut gains on bin Laden report

NEW YORK, Jan 19 (Reuters) - U.S. blue-chip stocks pulled back from early morning gains, although they were still up slightly on Thursday after a report from Al Jazeera TV that on an audiotape, Osama bin Laden threatened new attacks inside the United States.

The blue-chip Dow Jones industrial average <.DJI> was up 6.32 points, or 0.06 percent, at 10,861.18, off its high so far in the session of 10,891.40.

The Standard & Poor's 500 Index <.SPX> was up 1.81 points, or 0.14 percent, at 1,279.74. The technology-laced Nasdaq Composite Index <.IXIC> was up 10.92 points, or 0.48 percent, at 2,290.56.

[UpInArms]

48. Cueing Terra! (a bit late on the uptake?)

10:34am 01/19/06 OSAMA BIN LADEN SAID TO WARN OF NEW ATTACKS IN U.S. -REPORTS

[UpInArms]

67. Murdoch's Sky Snews assisting in broadcasting "Terra!"

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.4486195718-857815714&siteID=mktw&scid=0&doctype=806&

SAN FRANCISCO (MarketWatch) -- Osama bin Laden is purportedly warning of new terrorist attacks inside the United States, according to media reports Thursday citing a new audio tape aired on Arab TV station Al-Jazeera. The voice on the tape, said to be that of the al-Qaida leader, reportedly warns that new attacks on the U.S. are being planned, but offers a truce in order to "build Iraq and Afghanistan," Sky News reported on its Web site.

[EuroObserver]

53. It's a snark!

Spooked, spooky :eyes:

[ozymandius]

59. Once again Osama reminds us

that he is, yet, free. And that World War Two was won in almost less time than he has remained a fugitive.

(He also reminds us that his weight fluctuates wildly from delicately lithe to morbidly obese.)

[UpInArms]

87. Is Osama bin Laden Dead? Are bin Laden Tapes Fakes?

http://usliberals.about.com/b/a/236867.htm

excerpt:

This week, the Bush Administration is reeling like never before under the weight of Jack Abramoff's bribery and corruption revelations about Republican leadership in DC, and after the brilliant speech given Monday by Al Gore, in which he flatly declared...

"...the President of the United States has been breaking the law repeatedly and persistently. A president who breaks the law is a threat to the very structure of our government....Once violated, the rule of law is in danger. Unless stopped, lawlessness grows. "

A new terror-inducing tape from Osama bin Laden would be enormously helpful politically right now to the Bush Administration. And conveniently, one appeared today.

I reported here in late November 2005 that Senate Democratic Leader Harry Reid had been told that day, presumably by US intelligence, that bin Laden"may have died in the earthquake that they had in Pakistan. " If Mr. Reid revealed this to the public, then he must have believed with great certainty.

...more...

Senator Harry Reid Told Osama bin Laden Killed in Pakistan Earthquake
http://www.prisonplanet.com/121703binladendead.html">Intelligence Sources Confirm bin Laden Is Dead
http://en.chinabroadcast.cn/2239/2006%2D1%2D16/118%40293662.htm">Australian Expert Says Bin Laden Could Be Dead
http://archives.cnn.com/2002/US/01/18/gen.war.against.terror/">CNN: Pakistan's Leader Thinks bin Laden Is Dead
http://news.bbc.co.uk/1/hi/world/south%5Fasia/2135473.stm">BBC News: FBI Counter-Terrorism Chief Thinks bin Laden Probably Dead
http://www.nationalreview.com/interrogatory/interrogatory102501b.shtml">National Review Online: Bin Laden Dead? a Chinese Report Says So
http://www.pekingduck.org/archives/001951.php">Blogger The Peking Duck: "Osama bin Laden Is Dead"
http://www.whatreallyhappened.com/osama%5Fdead.html">Osama bin Laden - A Dead Nemesis Perpetuated by the US Government

[UpInArms]

45. 10:28 EST market not reacting to Terra!

Dow 10,869.18 +14.32 (+0.13%)
Nasdaq 2,293.72 +14.08 (+0.62%)
S&P 500 1,280.59 +2.66 (+0.21%)
10-Yr Bond 4.361 +0.21 (+0.48%)

NYSE Volume 487,043,000
Nasdaq Volume 549,704,000

[UpInArms]

49. Security technology stocks rally after Bin Laden warning

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38736.4427830787-857814699&siteID=mktw&scid=0&doctype=806&

NEW YORK (MarketWatch) -- Shares of security technology stocks rallied sharply Thursday, after Al-Qaida leader Osama Bin Laden warned of fresh terrorist attacks inside the U.S. The threat came in a video aired by Arab TV station Al Jazeera, reports said. Explosives-detection-equipment maker Isonics (ISON) led the advance, adding 111.5% to $2.11. Magal Security Systems (MAGS) , a maker of intrustion-detection technology was up 3.3% at $9.89. Digital Recorders (TBUS) , which makes video surveillance equipment for mass transit systems, rose 12.1% to $1.95. Rival Ipix (IPIX) was up 7.2% at $2.40.

Geez! When will there just be an open commodities trade for "Terra!" stocks?

[AnneD]

61. Great Cesar's ghost!

they are riding that one trick pony to death! I am so disgusted by the lack of spine in our gubment and in many Americans. It really shows how small we have become. When we were attacked at Pearl Harbor, FDR went on the radio to reassure the public and people went about their lives with purpose. This ass clown and co. have people so frightened they are pissing in their shoes and hiding under their beds. I wonder how long it will take before the other half of America wakes up. I feel safe in saying that our founding fathers would be disappointed and ashamed of us. We were meant to be a great country and here we are, hobbled by a petty wanna be dick tater.

[EuroObserver]

66. Quoting Al Gore

"Some of the worst abuses prior to those of the current administration were committed by President Wilson during and after WWI with the notorious Red Scare and Palmer Raids. The internment of Japanese Americans during WWII marked a low point for the respect of individual rights at the hands of the executive. And, during the Vietnam War, the notorious COINTELPRO program was part and parcel of the abuses experienced by Dr. King and thousands of others.

"But in each of these cases, when the conflict and turmoil subsided, the country recovered its equilibrium and absorbed the lessons learned in a recurring cycle of excess and regret.

"There are reasons for concern this time around that conditions may be changing and that the cycle may not repeat itself..."

[AnneD]

73. It seems as if we have forgotten all the lessons...

we were suppose to have learned. I remember the after effect of McCarthy, the Cold War, Viet Nam, and Watergate. FISA was a well thought out and fairly reasonable plan. What is scary (more than terra) to me is the absolute power grab this admin is engaged it. It really isn't about terra, it's about increasing presidential power. It is about taking so much power as to make Congress nothing more than a rubber stamp. By having and undefined and nebulous enemy and no concrete time lines-he can stretch his 'war powers' beyond what our founding father imagined. The fact that he will create a rubber stamp Supreme Court does not give me any comfort.

[EuroObserver]

62. Isonics, Digital Recorders

http://today.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?view=PR&symbol=ISON&storyID=161529+17-Jan-2006+BW
GOLDEN, Colo.--(Business Wire)--Jan. 17, 2006--
Isonics Corporation (NASDAQ: ISON), a developer of
innovative solutions for the homeland security and semiconductor
markets, announced today that it has been selected to participate in
the U.S. Department of Energy National Nuclear Security
Administration's (NSSA) Global Initiatives for Proliferation
Prevention (GIPP) program. As part of the program, the Company has
entered into a two-year, $2 million Cooperative Research and
Development Agreement (CRADA) with Battelle Memorial Institute as
operator of DOE's Pacific Northwest National Laboratory (PNNL).
Isonics, Battelle and the Russian State Scientific Center Research
Institute of Highly Pure Biopreparations (IHPBP) will collaborate to
complete the development of and then commercialize an environmentally
safe system comprised of a chemical agent and an aerosol-based
delivery method which can decontaminate microbial and fungal cells,
spores, and viruses. In a prior phase of this program, IHPBP
successfully demonstrated the efficacy of the proposed system and
technology. /more...

http://today.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?view=PR&symbol=TBUS&storyID=140294+18-Jan-2006+BW
Digital Recorders, Inc. is a technology leader in transportation,
law enforcement, and security digital communications systems using
proprietary hardware and software applications. Our products improve
the flow and mobility of people through transportation infrastructure,
mitigate security threats, and enhance law enforcement agencies'
surveillance capabilities. Our transportation communications products
- TwinVision(R) and Mobitec(R) electronic destination sign systems,
Talking Bus(R) voice announcement systems, Internet-based passenger
information systems, and computer-aided dispatch/automatic vehicle
location and monitoring systems, and VacTell(TM) video actionable
intelligence systems - enhance public transportation and mitigate
security threats worldwide. Our electronic surveillance tools,
including microphone amplifiers and processors, countermeasures
devices, speech activity detectors, and noise cancellation equipment,
help law-enforcement agencies around the globe arrest and prosecute
criminals. For more information about DRI and its operations
worldwide, go to www.digrec.com. /more...

Uh huh.

[EuroObserver]

81. DU/WP Re: video surveillance

WP,pg1: Federal Grants Bring Surveillance Cameras to Small Towns
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2051750

[EuroObserver]

64. Isonics up from $1.89 to $2.11 - ie. 11.15%

...so I reckon that's more like adding 11.15% ???

http://today.reuters.com/stocks/Overview.aspx?ticker=ISON

ed: correction (This note previously confused with Digital Recording (TBUS) data).

[UpInArms]

51. here's the non-reacting to Terra! blather

10:30 am : Little changed since the last update as the major averages vacillate in roughly the same ranges. Meanwhile, Health Care remains in focus after Pfizer's (PFE 24.74 +0.65) earnings didn't fall as much as expected; however, the sector has recently slipped into negative territory as UnitedHealth Group's (UNH 59.60 -1.62) strong Q4 report and upside FY06 guidance has prompted investors to lock in some of the gains that helped HMOs turn in one of last year's best performances. DJ30 +10.95 NASDAQ +13.63 SP500 +2.19 NASDAQ Dec/Adv/Vol 927/1706/554 mln NYSE Dec/Adv/Vol 1062/1806/336 mln

[UpInArms]

69. 12:06 EST the land of lala dances the happy dance

Dow 10,882.15 +27.29 (+0.25%)
Nasdaq 2,300.07 +20.43 (+0.90%)
S&P 500 1,282.52 +4.59 (+0.36%)
10-Yr Bond 4.365 +0.25 (+0.58%)

NYSE Volume 1,044,525,000
Nasdaq Volume 1,068,898,000

(updated blather on edit)

12:00 pm : Market continues to enjoy modest gains midday as strong earnings reports, M&A activity, notable analyst upgrades and some dividend increases help stocks regain some upside traction.

Of the seven economic sectors benefiting from renewed buying efforts following two days of consolidation, Energy has led the way, getting a boost after Schlumberger (SLB 112.83 +4.51) raised its dividend 19% and following upgrades on Halliburton (HAL 71.02 +1.00) and Baker Hughes (BHI 71.10 +2.52). A modest rebound in oil prices following mixed weekly inventories data has also provided additional sector support. Technology has been the other source of influential leadership, as evidenced by the Nasdaq outpacing its blue chip counterparts to the upside. The sector has gotten a huge lift from strength in chip stocks, following Advanced Micro Devices' (AMD 37.62 +4.25) strong Q4 earnings and improved margins as well as several analyst upgrades within the semiconductor space. Despite some overly optimistic forecasts resulting in relatively disappointing guidance from Apple Computer (AAPL 79.45 -3.04), hardware has found some strength from HPQ (+1.8%) and NTAP (+1.6%).

Consumer Discretionary has also traded modestly higher, as investors embrace reports that Disney (DIS 25.05 -0.17) -- a suggested holding in Briefing.com's portfolio for active investors -- is in "serious discussions" to acquire Pixar (PIXR 58.54 +1.28). Upgrades in the retail group (i.e. EBAY, BBY and SKS) have also provided support and helped offset weakness in homebuilding. The latter has consolidated this morning after Dec. housing starts and building permits checked in weaker than expected, suggesting that the housing industry is leveling off.

Health Care has also been in focus after Pfizer's (PFE 24.74 +0.65) earnings didn't fall as much as expected; however, the sector has been under pressure as UnitedHealth Group's (UNH 59.60 -1.62) strong Q4 report and upside FY06 guidance has prompted investors to lock in some of the gains that helped HMOs turn in one of last year's best performances. DJ30 +15.05 NASDAQ +18.25 SP500 +3.04 NASDAQ Dec/Adv/Vol 1055/1801/1.02 bln NYSE Dec/Adv/Vol 1143/1991/708 mln

11:30 am : Blue chip averages weaken a bit within the last 30 minutes, as the Dow inches into negative territory. Aside from modest consolidation in IBM as well as pullbacks in HD and MRK shares, continued deterioration in the Dow's financial components (i.e. AIG, AXP, C and JPM) amid rising bond yields and in the wake of quarterly disappointments from WM and BBT have weighed most heavily on the Dow. The 10-yr note is off 7 ticks to yield 4.36% amid escalating geopolitical issues and upcoming supply concerns. DJ30 -1.83 NASDAQ +11.94 SP500 +0.70 NASDAQ Dec/Adv/Vol 1015/1788/890 mln NYSE Dec/Adv/Vol 1171/1901/598 mln

11:00 am : Range-bound trading persists in stocks as the overall market shows little reaction to mixed oil inventories data. At the bottom of the hour, the EIA showed that crude oil inventories rose 2.74 mln barrels (consensus -200K) and gasoline inventories rose 2.86 mln barrels (consensus 2.0 mln) while distillates rose a smaller than expected 911K barrels (consensus 2.1 mln). Energy, however, has taken notice, turning the corner amid a slight rebound in oil prices and taking advantage of notable analyst upgrades (i.e. BHI and HAL) to now compete with Technology as the morning's best performing sector.DJ30 +5.68 NASDAQ +12.65 SP500 +1.85 XOI +0.7% NASDAQ Dec/Adv/Vol 951/1780/718 mln NYSE Dec/Adv/Vol 1108/1887/456 mln

[EuroObserver]

71. European Closing: softly softly

http://mwprices.ft.com/custom/ft-com/html-ftheadlines.asp
FTSE 100 closes up 0.5% at 5,693.2 in London 16:43
Xetra Dax 30 closes up 0.7% at 5,430.84 in Frankfurt 16:42
CAC 40 closes up 0.9% at 4,814.09 in Paris 16:43
FTSE 250 closes up 1.2% at 8,955.6 in London 16:41
FTSE Eurofirst 300 up 0.5% at 1,291.68 in closing exchanges in London 16:35

ed: Swiss Market Index (SMI) des 27 valeurs vedettes gagnait 45,16 points ou 0,6% à 7771,61 points - http://www.letemps.ch/template/static.asp?ats=20060119180129535172194810700.xml

[hang a left]

76. Japan trading exec found dead

Japan trading exec found dead
Authorities investigating cause; dead man's firm involved in Livedoor takeover deals.
January 19, 2006


TOKYO (CNN) - An executive of a Japanese securities firm involved in takeover deals by the high-profile Internet startup Livedoor has been found dead, police say.

The executive, Hideaki Noguchi, 38, was found dead on the southern island of Okinawa, according to Kyodo news agency, quoting police in a report Thursday. Authorities said tests would be needed to confirm the cause of death.

Kyodo, quoting police in the Okinawa capital Naha, said that Noguchi apparently slit his wrist at a Naha hotel on Wednesday. He was taken to the hospital but died there.

Noguchi worked for H.S. Securities, a company involved in the acquisition of publishing company Money Life by ValueClick Japan, the predecessor of Livedoor subsidiary Livedoor Marketing.

This deal is at the center of the investigation into Livedoor that prompted a massive sell-off on the Tokyo Stock Exchange Tuesday and Wednesday, raising volume levels so much that the TSE suspended trading 20 minutes early because its computer systems were being overloaded....


http://money.cnn.com/2006/01/19/news/international/live...

[EuroObserver]

88. FT: Lex live: Livedoor

http://news.ft.com/cms/s/4b4c954c-88db-11da-94a6-0000779e2340.html
The casualty list at Livedoor, the Japanese internet company under investigation for ramping share prices, keeps growing. The spotlight will next fall on auditors, who signed off on all the allegedly false accounts. 13:59 (Subscription, free trial if you fill in some fields)

[OrangeCountyDemocrat]

77. I Saw An Inversion This Morning

Was watching cnbc, and the 2-Year Yield was at 4.37%, while the 10-Year Yield was at 4.36%. The 5-Year was still much lower at 4.30%.

[Zynx]

90. There is actually a much worse inversion than that.

http://www.bloomberg.com/markets/rates/index.html

The 6 month has a higher yield than the 10 year. Soon the 3 month will too after another rate hike.

[UpInArms]

86. Federated to close 5 distribution centers (750 jobs cut)

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-01-19T181356Z_01_WEN8119_RTRIDST_0_RETAIL-FEDERATED-CENTERS-URGENT.XML

NEW YORK, Jan 19 (Reuters) - Federated Department Stores Inc. (FD.N: Quote, Profile, Research) said on Thursday it would close five distribution centers this year to cut costs and streamline its Macy's operating divisions after buying the May Department Stores Co. last year.

The shuttering of the centers will affect about 750 employees, the company said in a statement, adding that the costs associated with the move are included in the previously announced estimate of approximately $1 billion in one-time costs spread over three years beginning in 2005.

[ozymandius]

91. Dow still peering over 10,900

2:16
Dow 10,908.81 +53.95 (+0.50%)
Nasdaq 2,311.10 +31.46 (+1.38%)
S&P 500 1,287.38 +9.45 (+0.74%)
10-Yr Bond 43.79 +0.39 (+0.90%)
NYSE Volume 1,652,705,000
Nasdaq Volume 1,620,507,000

1:30 pm : Onward and upward remains a driving mantra this afternoon as widespread buying efforts have helped get this year's rally back on track. Technology, led by a 3.5% surge in semiconductor and supported by increases of more than 1.0% in storage, software, hardware and networking, continues to lead the charge following a broad-based decline. While the sector's 1.1% advance today has yet to erase yesterday's 1.3% drubbing, a 1.1% advance on the tech-heavy Nasdaq has now expunged Wednesday's pullback. DJ30 +48.34 NASDAQ +27.48 SP500 +8.13 NASDAQ Dec/Adv/Vol 827/2112/1.40 bln NYSE Dec/Adv/Vol 899/2325/998 mln

1:00 pm : Market continues to make new session highs as the bulk of industry leadership remains positive, perhaps finding additional support from a recent recovery in Consumer Staples. While reports of a consortium of private equity investors submitting a new $9.6 bln bid for Albertsons (ABS 23.74 +0.90) has kept the sector in focus, a 1.9% surge in Wal-Mart (WMT 45.73 +0.85) amid the expiration of a lingering labor-law probe has also provided sector support. DJ30 +35.62 NASDAQ +26.26 SP500 +6.64 NASDAQ Dec/Adv/Vol 877/2023/1.30 bln NYSE Dec/Adv/Vol 998/2179/898 mln

[ozymandius]

93. gone for the day

Bye folks!

2:41
Dow 10,893.52 +38.66 (+0.36%)
Nasdaq 2,305.32 +25.68 (+1.13%)
S&P 500 1,285.86 +7.93 (+0.62%)
10-Yr Bond 43.79 +0.39 (+0.90%)
NYSE Volume 1,774,121,000
Nasdaq Volume 1,737,385,000

[UpInArms]

97. Nasdaq glitch produces bad quotes and delayed trades

http://www.marketwatch.com/news/story.asp?guid=%7B456F860B%2D0839%2D4B03%2DA4E8%2D8F7961558EC8%7D&symbol=&siteid=mktw

NEW YORK (MarketWatch) -- A computer glitch at the Nasdaq Stock Market resulted in delayed trades and faulty closing quotes in more than half of the New York Stock Exchange's listed stocks, the exchanges said Thursday.

The Nasdaq confirmed that a computer glitch occurred about 5:50 p.m. Eastern time Wednesday, when trades made earlier in the day were reposted. As many as 1,400 stocks were given improper closing prices.

The erroneous quotes were then sent to such customers as BigCharts.com, Charles Schwab Corp. (SCHW), E-Trade Financial Corp. (ET) and Yahoo Inc. (YHOO), according to media reports.
The Associated Press, which first reported the glitch after it prepared closing prices for its wire, said that its market data-services unit caught the errors, and that the stock tables it sent to newspapers were correct.

The closing prices created confusion among customers of the NYSE Thursday, but the current market prices are correct, a spokesman said.

...more...

A spokesman for the Nasdaq did not immediately return calls seeking comment.

[EuroObserver]

99. LSE-Nasdaq takeover talks speculation

http://mwprices.ft.com/custom/ft-com/html-ftalerts.asp?FTSite=FTCOM&q=&t=&s1=&s2=&extelID=&ticker=&company=NEW&ftep=&isin=&sedol=
17:01 London Stock Exchange closes up 4.1% at 676p after formal rejection of Macquarie bid; speculation on takeover talks with Nasdaq Stock Market

[Imagevision]

98. I'm under the impression that Bushco is above the law - this IS america!

and the house & senate are controlled by the GOP.

[ozymandius]

102. back to close shop

Dow 10,880.71 +25.85 (+0.24%)
Nasdaq 2,301.81 +22.17 (+0.97%)
S&P 500 1,285.04 +7.11 (+0.56%)
10-Yr Bond 43.79 +0.39 (+0.90%)
NYSE Volume 2,443,122,000
Nasdaq Volume 2,352,846,000

4:20 pm : Stocks rebounded nicely following two days of consolidation as broad-based buying spurred by upbeat corporate news (e.g. earnings, dividend increases, M&A activity) helped stocks regain some upside traction amid above-average volume. A recovery in overseas markets, especially a 2.3% rebound in the Nikkei 225 following a two-day decline of nearly 6% which had many worried about a pending collapse, also calmed investors' nerves before the opening bell.

With regard to sector strength, Energy turned in the day's best performance, as Schlumberger (SLB 114.87 +6.55) raising its dividend 19% and a late-day surge in crude oil prices (+1.5%), coupled with upgrades (and ensuing record highs) on Halliburton (HAL 71.75 +1.73) and Baker Hughes (BHI 72.47 +3.89), played into our Overweight rating on the sector. Materials turned in the next best performance but the sector's 1.0% surge did not have as much of an impact on the overall market as did strength across the board in Technology. Tech got a huge boost from gains from several chip stocks, spurred by Advanced Micro Devices' (AMD 37.13 +3.76) strong Q4 earnings and improved margins as well as several analyst upgrades within the semiconductor space. Not even conservative guidance from Apple Computer (AAPL 79.03 -3.45), which prompted shareholders to keep knocking the stock from historic highs, could prevent the tech sector from extending its year-to-date gain to over 4.0%.

Consumer Discretionary also posted a solid gain, as investors welcomed reports that Walt Disney (DIS 26.24 +1.02) -- a suggested holding in Briefing.com's portfolio for active investors -- is in "serious discussions" to acquire Pixar Animation Studios (PIXR 58.87 +1.61). Upgrades in the retail group (i.e. EBAY, BBY and SKS) also added support which helped offset weakness in homebuilding. Weaker than expected Dec. housing starts and building permits, suggesting that the housing industry is leveling off, motivated investors to temporarily look past strong earnings reports from DHI and BZH and consolidate the group's 4.6% year-to-date surge.

Health Care was also been in focus following better than expected Q4 earnings from Pfizer (PFE 24.96 +0.87), which also increased its dividend 26%, and UnitedHealth Group (UNH 60.19 -1.03), which initially sold off on the news but recovered into the close, lending credence behind our promising outlook for HMOs. Despite the Philly Fed unexpectedly falling to 3.3 -- the lowest reading since last June and well below expected expansion of 13.0 -- Industrials got a lift from Union Pacific (UNP 85.02 +6.44), which hit an all-time high after handily beating expectations and providing upbeat comments about 2006.

Financial, however, failed to inch back into positive territory as quarterly disappointments from Washington Mutual (WM 43.33 -1.08) and BB&T Corp (BBT 41.08 -0.83) overshadowed Merrill Lynch's (MER 72.05 +2.20) impressive Q4 report and 25% dividend hike. Perhaps also weighing on the sector were concerns about a flattening yield curve, as the yield on 10-yr note (-10/32) rose to 4.37% amid a sharp decline in jobless claims to a very low 271,000 (consensus 315K) and renewed threats from Osama Bin Laden about terrorist attacks inside the U.S. BTK +0.6% DJ30 +25.85 DJTA +2.6% DJUA +0.8% DOT +1.4% NASDAQ +22.17 NQ100 +0.8% R2K +1.6% SOX +3.1% SP400 +1.3% SP500 +7.11 XOI +1.5% NASDAQ Dec/Adv/Vol 944/2095/2.32 bln NYSE Dec/Adv/Vol 990/2318/1.76 bln