« Dividend-focused ETFs in review, Mon., Feb. 27, 2006, 6:57 AM | Main | Frozen wet?, Mon., Feb. 27, 2006, 10:45 AM »
February 27, 2006
Extreme opening in New York, Mon., Feb. 27, 2006, 10:08 AM
The U.S. equity market opened today with extreme moves in both directions for many of the Dow 30 components. There were many gaps up and down. Overall, the metals and oils are weak, and the economically-sensitive stocks are strong.
Crude oil is down $1.00 and gold is off about $6.00 on the near futures. That situation has pushed the Dow up +55 points at the open today.
That's why they call the first 30 minutes on Monday the least important of the week. It's also the time where most traders are fooled.
Since I'm not feeling so hot today, after a lot of dental work on Saturday, I'm going to take the day to relax. I did submit a long article to ADVFN.com this morning that will get published in a short while.
And after my IT guy Mike returns, he will re-link my mail to my address book, and re-load java so that I get to see my monitors at ADVFN, etc, which will make life easier. He pulled out my PC to test the video card problem that was causing me grief with the vertical scroll bar.
This pc stuff is a work-in-progress. Once you get something working right, you need to cast it in stone. But along comes new stuff, and people like me jump into it.
Btw, I am going to be building a facility called a Board of Trade on Grand Bahama Island. Like I have in the past, I will be developing and operating everything on a SUN platform. This morning, by coincidence, "JW" sent me notes on SUN and Google getting their act together.
As I plan to build the world's finest international trading facility (my words, backed by a track record), I will need to know as much as possible about the latest stuff from SUN.
So if you are independent of SUN and Google, and have strong views, pro or con, on how that duo could possibly lead the world further into our digital future, please send along those views. I do have an interest in learning.
Posted by Posted by Bill Cara on February 27, 2006 10:09:56 AM | Category: Cara Today in the Market
Discourse
stockman-
I took a look at the NG charts last night. I think they are neutral to bearish. I would think there is a risk of lower prices still S/T. I would look for a close above the 20-day moving average crossing (7.91) to confirm that the low has been put in before commiting capital. Otherwise, this could test the 6.77 low. JMHO.
Posted by: MarkM
at
February 27, 2006 10:44 AM [link]
C.Note, Lyondell (NYSE: LYO) is definitely a diversified chemicals manufacturer. If you ever want to look at the nature of a corporation's business operations, just go to Yahoo Financ and click on the symbol and then "Company Profile". Here is the one for LYO:
http://finance.yahoo.com/q/pr?s=LYO
btw, Credit Suisse downgraded LYO on Friday, but I won't hold that against them. I hope to see their talking heads on CNBC. :-)
Posted by: Bill Cara
at
February 27, 2006 11:08 AM [link]
Thanks Bill:
BTW: I'm reading the upgrade to Outperform for LYO from Reuters of 2/23/06 and it appears that the insider sell/buy took advantage of lower priced stock options for a profit and an even swap of shares!
Posted by: C.Note
at
February 27, 2006 12:15 PM [link]
Bill:
Took your advise from WK#8 review i.e.looking into LYO and come to find out it is more of a Oil & Gas operation than a Chemical company,even though 'Chemical' is in the name. When looking up peer group it's listed with the oil & gas big boys .. is that how you see it?
Posted by: C.Note
at
February 27, 2006 10:30 AM [link]