By the close yesterday though, the DJIA (+121) and S&P 500 (+12.6) hit new all-time highs. The Nasdaq Composite (+16.5) also surged. The market was led by Basic Materials and Energy.

Sprint Nextel (S) dropped the CEO after subscriber growth stalled following the Sprint/Nextel merger.

As reported yesterday, Molson Coors Brewing (TAP) and SABMiller PLC (SAB.L) announced plans to combine their US and Puerto Rican operations, creating “a beer powerhouse” with annual revenue of about $6.6 billion. And AT&T (T) agreed to pay ~$2.5 billion for wireless spectrum from Aloha Partners LP.

Also on the deal front, Newmont Mining (NEM) agreed to buy Miramar Mining (MNG) for $1.5 billion. They paid a healthy premium to an already hefty share price, but since these miners have great difficulty producing new resources as fast as mining the old ones, they have to acquire companies or die.

On the earnings front, Yum Brands (YUM) posted a +17 pct gain in 3Q profit on net income of $270 million viz. $230 million a year ago.

Nymex Crude Oil futures held up from crashing floor resistance levels, and traded above $80/bbl.

US Treasury yields gained some momentum Tuesday. For much od the day, until 2:00pm ET, there was uncertainty in credit markets due to bond traders weighing the implications of the FOMC minutes.

After that, the USD pulled back against the Yen and Euro, sending metals prices higher.

Earlier in the day, both Asian and European share prices ended higher.

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International Economics Review

US Economic Calendar

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The Cara Global 100 Stockwatch

Here are the Tuesday session Cara 100 gainers.

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Here are Cara 100 losers from Tuesday.

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Here are the Cara 100 stocks that hit 52-week intra-day highs or lows in the Tuesday session. The New Highs list is growing. Watch the Distribution Zone for Sell Alerts as otherwise strong stocks fall below 70 on the Daily and Weekly RSI-7.

Successful traders sell into strength (and buy into weakness), like any businessperson would do.

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Here are the Cara 100 stocks that had extreme volume changes.

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Key Stocks plus Cara 100 In Focus

There are various sources for up/down grades by broker-dealers. One is at Briefing.com. Traders ought to check everyday for ratings changes. That website is updated later in the morning.

I am appreciative to the folks at KNOBIAS, Inc for providing the Cara 100 summaries.

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Relative Strength Index (RSI) analysis of the Cara 100 company stocks .

RSI > 70 (12 of 37)

RSI < 30 (1)

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Here are the Cara 100 stocks that traded Tuesday with the highest and lowest RSI-7, sorted by (i) daily and (ii) monthly values:

“Chris,” used BillCara2.com data that is unsmoothed, unlike the data from Worden used by “David”.

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US Equity Markets Review

DJIA (interactive) chart

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NASDAQ Composite (interactive) chart

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International Equity Markets Review

Here is the latest chart for the India BSE 30 index .

A new record high close today (+2.1 pct) for the Bombay Sensex index.

Download Oct 8 Report on India by Deepak Lalwani.

Deepak Lalwani calls this market over-bought and frothy. I suspect that when the balloon pops of this one that the global equity market boom is over. But, as you know, I think the international markets are splitting into the have’s and the have-not’s. US, UK, Europe and Japan represents the have-not group, which I believe will continue the Bear the next time market prices start to slide (watch India for signs of that). But the have’s group (India, China, Hong Kong, Singapore, Russia, Brazil, Canada and Australia) will hold up for an extended primary cycle top (for one more cycle) – if HB&B doesn’t intervene and smash the commodity producers in the meantime. If they do, the whole world will go into a Bear.

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US Dollar Review

Here is the chart of the recent trading.

The $USD is down today, even after yesterday’s steep drop, presently at 78.249, and likely heading for a 77 handle.

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Oil Review

Interactive Chart of Weekly Crude Oil:

Here is the e-miNY Nov-07 Crude Oil chart.

Oil is presently 80.30, and trying to hang onto the 80 handle.

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Gold & Precious Metals Review

Here is the Recent Spot Gold chart.

Spot gold is now (10:48am ET) at 744, up about +13 from yesterday morning. Traders were advised to buy the dip.

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Here is the Recent Spot Silver chart.

Spot silver is now at 13.59 (10:50am ET),

As I have written, “There is still life in the old Bull yet. Central bankers are using everything from steroids to ginseng to squeeze out that final breath. So ride the PM Bull a little longer.”

Recent Spot Silver chart.

I like the Kitco.com charts btw, but also need the ones at Yahoo Finance, StockCharts.com, BillCara2.com and ADVFN.com before making any opinion.

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Here is the The Goldminers stock index chart.

$XAU is up +3.00 (+1.73 pct) on the day (10.52am ET) to close at 176.44.

As I said at lower prices, “Price pull-backs are good opportunities to re-load. It’s just a matter of timing the re-entry.”

Many junior resource companies will be exhibiting (fishing for investors) at the Cambridge Natural Resources Show in Toronto (Oct 21-22). I’ll be there too, and several of you have written to say you will join me. Anybody can join us if you wish. It’s a free show, and a good place to learn about these promoters and their penny dreadfuls. These are the companies that occasionally discover valuable properties.

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Wrap-up

It’s always a great time to be connected and to share knowledge, like we do here.

Have a good day.

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