If you don't pay attention to Jeremy Grantham and are a long term trader, you should. Always an excellent read, his latest Quarterly Investment Letter:

https://www.gmo.com/America/CMSAttachmentDownload.aspx?target=JUBRxi51IIAJU%2b4JuIiXJlYowzawh14NeDEyUAnDCVndkHG%2bVv0Bd%2b0p0gIQDDv9Q7aTbDxi3SkIMNZ%2bQUl4U9su3fQEP9wmxt8Np1mBqvc%3d

How about a 1.4% real return expectation from these levels over the next 10 years?

Jobless claims reach 16-week high:

http://tinyurl.com/yyjgoj

IEA to Advocate Nuclear Power

The International Energy Agency will urge governments around the world to help expedite the building of new nuclear power plants, the Financial Times reports. "We need a decision almost tomorrow if we are going to act before we reach a point of no return in climate and security of supply," IEA Chief Economist Fatih Birol tells the paper, and he said politicians needed to persuade voters that nuclear power was safe and necessary. The IEA report, which will be the first to provide advocacy rather than analysis, follows a request by the Group of Eight last summer for the agency to offer guidance on how governments could boost energy security and combat global warming, the FT says.

INDICATIONS
U.S. stock futures turn lower
Wal-Mart outlook, Intel downgrade, weak productivity sour sentiment

http://tinyurl.com/tbfgp

Absolutely brutal combination- Productivity and Costs:

http://personal.fidelity.com/research/stocks/content/marketsindex.shtml?bar=c

It's pouring bad news now.

"Gold Falls for 1st Day in Eight as Buyers Hold Back After Rally - Bloomberg, Nov 2 2006 7:06AM"

So much for that headline. I see the miners are still tiptoeing. If beta gets tossed on the front end of a selloff, everyone will need to be mindful of their stops.

Plan your trade. Trade your plan.

Rainstorm continues with Factory Orders:

http://www.bloomberg.com/apps/news?pid=20601103&sid=aoG_NCfYdRR4&refer=news

To my mind it is only the sheer amount of liquidity out there that has to go SOMEWHERE that is keeping the market pinned at these levels.

Good luck and good trading.

Income-trust crackdown: The inside story

The link:

www.theglobeandmail.com/servlet/story/RTGAM.20061102.wtrusttick02/BNStory/Business/home

More color on the income trust decision.

MarkM...thank you for the Jeremy Grantham link. I read it this a.m. and I wrote a note. Such a note it was...I thought the link worthwhile enough to hand type (I regret that with my education and experience, my singularly best talent is typing) the paragraph containing humble bees. But this ^$#Q%!#$^@$^^$ (Bill sorry for the implied expletives) website was so slow in loading that my comment was lost. Readers...do read the link. It is worth your time. I think that humility is akin to godliness...particularly when it comes to folks who run money (which I must admit, some of the egos are stupefying to me).