A guess they will be flushing out a lot of those silly "tight stops" this a.m. - will 1351ish hold?

Looking at the interactive links above, we see that gold and silver have just fallen off a cliff. Oddly, the dollar is also down, and the CRB index is up.
Can anyone explain?

Sure - everyone is running for the hills that's what's happening - take a look at bonds - there UP - even WITH inflationary data - people running to lock in profits on everything in sight.

US$ down cause all those foreigners that bought $100billion last month want to take some profits out of US assets - my guess anyways.

Well we need to see if this is more than a one day event T'man but your analysis of the screens is as good a guess as I've seen today.

Good ol' American Consumer is still partying on the deck listening to Nearer My God To Thee.

I'm asking a favor to save me some time today.

Has anyone looked at all the HB&B's earnings and figured out roughly what percentage come from trading? Asset Mgt, etc.? Any rough guesses out there?

Thanks in advance,

g034

IBM is holding ground - interesting.
And utilities are up - more running for safety.

Its really up to the Big Boys to say what happens this week IMO - since it is options week .

Will they just hold it up all week - or was last week a setup - often options week reverses the prior move.

One thing is for sure - they won't be able to hold anything up if there is continued order flow like this a.m. - volume is running higher today and to the downside - lets see what happens when Europe closes.

G034,

Merrill had revenue of 7.9 billion (excluding BlackRock transaction) and "trading rev." of 1.5 billion, which is 18% for the quarter.

Goldman had revenue of 7.4 billion and trading rev. of 4.7 billion, which is a whopping 63%.

But maybe they have different calculation for what they account as "trading revenue" these numbers are not only their proprietary trading rev. These numbers are taken from the media (marketwatch, yahoo)

Anyone who trades OIL or oil stocks have any idea what T-Boone is upto - he's been talking $100 oil again - seems almost like pumping.

Was that to get out of a long position?
Or was he serious?

There is the US/Iran military games at the end of the month?

Just curious how others are trading this.

Tradesmen,
still long on st-energy bets, and intend to stay so, currently.

All,
anyone noticed Goldman has cut INTC to neutral this morning and SG Cowen cut YHOO rating this morning, also. I mean great job 12 hours before earnings^^ OR do they know something???? If so, and INTC and YHOO report on the weak side, the stock market has a problem in my view. ST i would be on the short side of the stock market, as risk of a downturn gets bigger...

Ok thanks, Jansing...

metals behaving better than oils today so far ...

still feels like a bounce in oils to me... but they are still trading "relatively" ok...

Since I trade on the TSX alot - I like to see the institutions put some money behind the oils, otherwise its just short covering or a bounce - and I haven't seen a lot of institutional activity yet (except in the oil trusts)

I also look at the MOC (market on close) on the TSX - If I saw buying into the close in oils that would be a good sign - haven't seen that yet either.

Also been reading rumours (yes I pay attention to rumours) that some of the Hedge Funds that lost a lost of money on their Energy bets recently - have moved back in - trying to make some money back I guess --> this seems to me like 'Revenge' trading IMO.

Maybe they will be 'shaken out' again by GS etc... wouldn't surprise me.

That's why I was suspicious about the T-Boone remarks... always pays to be skeptical...

... btw no position either way as of today

Most of the selling today was from overseas...

The 'buy the dippers' on this side of the pond are still in action...

Wasn't sure where to post this...

but Jason is usually a good read...

http://www.minyanville.com/articles/index.php?a=11433

Tradesman,

Thank you for all the posting you do (nice article from minyanville).

One question:

"Most of the selling today was from overseas..." What sources are you reading?

One point:

I know Bill's made his position clear on Pickens before, so I'm just repeating it. Reading the wikipedia entry on him makes it difficult to take anything he says regarding the direction of energy prices seriously:

http://en.wikipedia.org/wiki/T._Boone_Pickens

Plus, looks like his son is learning from the master himself (near the end of the article).

j/o-

Read his other post saying we have to see what happens when Europe closes. Look at the charts. Markets start floating ever gloriously higher when?

MarkM,

Ok, I think I misunderstood what he wrote. I took it to mean that most of the selling in US markets today was being done by foreign traders.

I understand that some global markets have been incredibly linked-up since August (saw a chart of the DAX layed over the DOW last week--virtually identical since the summer), so that would explain the second comment: "The 'buy the dippers' on this side of the pond are still in action..."

BTW, maybe you can help me out with another topic (one that has come up often here). I'm still at the learning stage (was in mutual funds from late 2003 till early 2006, now moving to individual stocks), and I've been using these 'irrational' weeks to read up/sort out stocks for the coming months.

Have used investertech.com a lot, but have been frustrated with what seem to be chunks of missing data in several charts. Stockcharts is good, but their free service doesn't include monthly charts (only daily/weekly). Have looked at incrediblecharts, but I run a Mac. Yahoo has a good stock screener, but their charting service doesn't seem to break things up into daily/weekly/monthly readings. Could you recommend any other services? Does stockcharts.com offer monthly charts when you subscribe? I could consider a $10/month subscription, but something like QCharts (at $95/month) is out of the question.

I'd appreciate any tips/help. Thank you.

j/o

You are correct that Investertech is plagued by data gaps. I use stockcharts.com and yes they have monthly, also 5 through 60 minute intervals.

Selling took place this morning while European bourses were open; rose in afternoon when they were closed. They react more strongly to our economic data than we do IMO.

old europeans are much wiser, they are!, believe me

old and wise, as Mr. Rumsfeld told us :)

....ok, ok he mentioned only the "old" part, but who would not suppose he also meant the "wise" part?

and with that, good day and good night ;)

j/o

my broker is schwab, and via thier trading platform [StreetSmart] you get wonderful charting capabilities. StreetSmart is branded via CyberTrader - so you can use either Schwab or CyberTrader for the same charting platform.

enjoy

MarkM:

Thank you very much. I'm guessing the monthly charts are available as a subscriber (either that, or I'm blind to what they have on offer for free).

SoccerMatt:

Thank you as well. I'll check out CT (I'm using Bill's old QTrade as my broker, they've got a great reputation up here in Canada).

Jansing:

Any good German/French/'Old European' trading/business blog sites to recommend? Danke im Voraus!