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July 26, 2008
Daily Report for Sat, Jul 26, 2008
Markets Re-cap
US equity markets started strong with the DJIA up about +100 points by 10am ET, then tumbled through the day Friday into a late session loss of about -25 points before closing with a brief flourish. It was a quiet day, supported by a few of the tech names.
Once again, following an opening boom in bank and broker share prices, trader concerns in the financial sector over capital and liquidity concerns ($XBD -2.6% and $BKX -1.0%) pulled the broad market down. There were a series of negatives: (i) S&P ratings were cut for FNM (-3.9%) and FRE (-6.1%), (ii) rumors of a $9 billion capital raise-up by Lehman (LEH -7.9%) and potential sale of their profitable Neuberger division, (iii) comments from Charles Gasparino, CNBC On-Air Editor, a leading media personality, that Lehman is toast, (iv) the resignation of Wachovia Bank’s CFO, which hurt the WB shares (-7.6%), and (v) the closure of two more US banks by FDIC regulators, bringing to 7 the number of bank failures this year.
After bouncing off the floor in mid-July following the Fed intervention, the charts of these stocks now appear in dire straits once again, and traders are thinking the worst. [Daily chart] [Weekly chart] These are some of America’s leading financial institutions and their days appear to be numbered, at least in their present state.
At the closing bell, the DJIA (+21.41 +0.19% to 11370.69), S&P 500 (+5.22 +0.42% to 1257.76) and NASDAQ Composite (+30.42 +1.33% to 2310.53) were up. The Techs were the winners ($XLK +1.4% and XLI +0.9%), while the Financials (XLF -1.6%) and Utilities (XLU -1.2%) were losers.
Lower oil prices helped boost the Airlines ($XAL +3.3%), which was more than anything a small bounce after the preceding day’s significant loss.
On the corporate front, General Electric (GE flat) announced a restructuring from 6 business segments into 4, including two in infrastructure.
Capital flowed back out of US Treasuries as yields gained from +1.8% to +2.8% on the 30-year ($TYX to 4.696), 10-year ($TNX to 4.111) and 5-year ($FVX to 3.449). The 30-year US Bond ($USB) lost -1.03% to 113.81, following Thursday’s gain of +1.22% from 113.61 to 115.00. After that rally, I had pointed out here, “This is hot money and not long-term bond investment.”
Crude Oil ($WTIC -$2.23/bbl) dropped to 123.26, and now traders are talking $100 oil before $200. In fact, some industry studies are indicating the crude oil may drop to 70-80 in the next year, which is at variance to the beliefs of ‘peak oil’ proponents.
The Toronto Composite index gained +131 to 13379, while the Venture board lifted +0.16% to 2188. Volume is quiet.
In extreme action in Cara 100 stocks, Potash Corp of Saskatchewan (POT) gained +4.3%, followed by Qualcomm (QCOM) up +3.9%. CHRW, GOL and MICC also rebounded from recent selling. The big loser was Interactive Brokers (IBKR -19.2%), which happened after the Company announced a +58% earnings gain for Q2 but missed Wall St estimates of $0.48 by 4 cents. CEO Tom Peterffy made some interesting remarks in this Bloomberg article to explain the lower volume of the firm's principal trading desk.
Earlier Friday, the Asia-Pacific markets all followed Thursday’s US market sell-off. Tokyo (-1.97% to 13334.8), Shanghai (-1.55% to 2865.1), Hong Kong (-1.50% to 22740.7), Australia (-3.03% to 5031.0) and India (-3.40% to 14274.9) were all hit hard by the selling.
In Europe Friday, the results were mixed after gaining strength through the session. The UK FTSE closed down -0.18% to 5352.6; the French CAC gained +0.67% to 4377.2; and the German DAX lost -0.06% to 6436.7.
$GOLD managed a gain of $14.60/oz to 936.90, which was surprising as the $USD closed flat at $0.7285 and the Euro gained just +0.14% to 1.5703. The Yen lost -0.60% to 92.71; the Pound gained +0.24% to 1.9913; and the Cdn Loonie lost -0.50% to 0.9814. That’s four straight losing days for the Loonie after closing at $0.9993 on Monday.
At the close of the week, Gold, palladium, platinum and silver spot prices were: 928.70, 380, 1751 and 17.37 respectively, which are close to Thursday and Friday morning’s prices. Gold had a wild ride down to 918.79 between 10 and 10:30am ET, followed by a lift to 930, closing at 928.70.
Comments & Outlook
I shall return Sunday afternoon with the WIR. Enjoy your weekend, and your summer vacation if you are having one.
Links & Charts
International Economics Review
Knobias Cara100 Tables
Cara 100 Daily RSI-7 Charts
At least one RSI value >70:
At least one RSI value <30:
International Equity Markets Review
Europe
Here is the latest session data for the bourses of Europe.
Here is the latest session data for the London stock exchange FTSE.
Here is the latest session data for the German DAX.
Here is the latest session data for the French CAC 40.
Here is the latest session data for the Milan Italy stock exchange MIBTEL.
Here is the latest session data for the Swiss market index.
Asia-Pacific
Here is the latest session data for the Asia-Pacific stock exchanges.
Here is the latest chart for the Japanese Nikkei 225 index.
Here is the latest chart for the Singapore index .
Here is the latest chart for the Shanghai Composite index .
Here is the latest chart for the Hong Kong Hang Seng index .
Here is the latest chart for the India BSE 30 index .
Here is the latest chart for the Australian All Ordinaries index .
US Equity Markets Review
NASDAQ Composite (interactive) chart
Table 14: Dow 30 List
You can do this table yourself by entering the following string into the Summaries window at www.billcara2.com and then clicking on the link for Performance.
AA AIG AXP BA C CAT DD DIS GE GM HD HON HPQ IBM INTC JNJ JPM KO MCD MMM MO MRK MSFT PFE PG T UTX VZ WMT XOM
Here are the links to interactive Dow charts from Billcara2.com that I broke into groups of ten, which you can add technical indicators for as well. (list one) (list two) (list three)
The Americas
Here is the latest session data for the exchanges of the Americas.
Here is the latest chart for the Brazilian Bovespa stock exchange in Sao Paulo.
Here is the latest session data for the Toronto Stock Exchange composite index.
Sector ETF Summary for the US equity market
The tables I show in this section are for ten (GICS) Sector Index Funds (ETF's) only, but they cover the full spectrum of the US equity market.
Table 1: Cara ETF List
You can do this table yourself by entering the following string into the Summary window at Billcara2.com and then clicking on the link for Performance. XLE XLB XLI XLY XLP IYH XLF SMH IYZ XLU XLK SPY . You can also add more ETFâs â up to 30 in total.
For a list of components to any ETF, go to the AMEX.com web site, and click on ETF's.
10 (energy: XLE)

Table 2: Senior oil & gas equities
15 (basic materials: XLB)

Table 3: Senior metals and steel equities
Table 12: Senior gold equities
20 (industrial: XLI)

Table 4: Senior capital goods makers and transportation
25 (consumer discretionary: XLY)

Table 5: Senior consumer discretionary equities
30 (consumer staples: XLP)

Table 6: Senior consumer staples equities
35 (healthcare: IYH)

Table 7: Senior healthcare equities
40 (financial: XLF)

Table 8: Senior financial company equities
45 (technology, semiconductor: SMH)

Table 9: Senior technology equities
50 (telecom: IYZ)

55 (utilities: XLU)

International Equity Market USD-denominated ETF Review
Table 13: International equities perspective
Japanese equity market ETF: EWJ
Here is the Japanese (EWJ) equity market ETF Daily data charts:


U.K. equity market ETF
Here is the United Kingdom (EWU) equity market ETF Daily data charts:
EWU Daily data:


Canada's equity market
Here is the Canadian (EWC) equity market ETF Daily data charts:


Bonds & Yields Review
Table 10: Yahoo Finance U.S. Treasury Debt, Municipal and Corporate Bond Yields
Here is the $USB 30-year Treasury Bond chart.

US Bond Funds -- Interactive Daily Data Charts
SHY Daily data series chart:
IEF Daily data series chart:
TLT Daily data series chart:
AGG Daily data series chart:
LQD Daily data series chart:
TIP Daily data series chart:
Table 11: Interest-sensitive securities
Consumer Finance -USA -- Interactive Daily Data Charts
Commodities Review
Interactive Chart of Daily CRB Commodities Index:

Interactive Chart of Weekly CRB Commodities Index:

Oil Review
Here is the e-miNY Mar-08 Crude Oil chart.
Interactive Chart of Daily Crude Oil:

Interactive Chart of Weekly Crude Oil:

Gold & Precious Metals Review
Interactive Chart of Daily Gold EOD Continuous Contract Index:

Interactive Chart of Weekly Gold EOD Continuous Contract Index:

Spot silver chart for the week
Interactive daily data
Interactive Chart of Daily Silver EOD Continuous Contract Index:

Interactive chart of the Silver Bullion index.
Interactive Chart of Weekly Silver EOD Continuous Contract Index:

Spot platinum chart for the past three days
Interactive Chart of Daily Platinum EOD Continuous Contract Index:

Interactive Chart of Weekly Platinum EOD Continuous Contract Index:

Interactive chart of the Platinum metal index.
Spot palladium chart for the week
Interactive Chart of Daily Palladium EOD Continuous Contract Index:

Interactive Chart of Weekly Palladium EOD Continuous Contract Index:

Interactive chart of the Palladium metal index.
Interactive Chart of Weekly Copper EOD Continuous Contract Index:


Interactive Chart of Daily Copper EOD Continuous Contract Index:
Interactive chart of the Copper metal index.
Table 12: Senior gold equities
To watch the moves in precious metal miners, you will have to monitor the individual stock charts, preferably in real-time, as follows:
NEM ABX AU GFI GG HMY AUY KGC BVN
Interactive Daily data
Interactive Weekly data
MDG LIHRY AEM BGO IAG EGO RGLD GOLD CDE GRS
Interactive Daily data
Interactive Weekly data
CBJ SSRI SIL NG KRY UXG GRZ TSE_HRG TSE_GUY TSE_AGI
Interactive Daily data
Interactive Weekly data
NXG GSS MNG DROOY MFN RNO RANGY MRB CLG
Interactive Daily data
Interactive Weekly data
Here are the key Silver miners and the SLV ETF:
SLV SIL CDE HL PAAS SSRI SLW MGN
Interactive Daily data
Interactive Weekly data
Here are the Weekly and Daily Data charts of the indexes:
Interactive Chart of Daily U.S. Goldminers Index:

Interactive Chart of Weekly U.S. Goldminers Index:

The U.S. goldminer share trust ETF trades under the ticker symbol GDX.
Here are the U.S. Goldminer ETF (GDX) index Weekly and Daily data charts:
GDX Daily data:

GDX Weekly data:

The Toronto Exchange-listed goldminer iUnits S&P/TSX Capped Gold Index ETF trades under the ticker symbol TSE:XGD. Yes, just like GDX on the AMEX, you can trade XGD on Toronto.
Here are the Weekly and Daily data charts for the TSX Goldshares (XGD) index:
Interactive Chart of XGD Daily data:

Interactive Chart of XGD Weekly data:

Forex Review
Here is the chart of the week's trading in the $USD.
Interactive Chart of Daily U.S. Dollar Index:

Interactive Chart of Daily Euro Dollar Index, priced in USD:

Daily British Pound Index:

Daily Japanese Yen Index:

Daily Canadian Dollar Index:

All Tables
Table 1: Cara ETF List
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 2: Senior oil & gas equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 3: Senior metals and steel equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 4: Senior capital goods makers and transportation
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 5: Senior consumer discretionary equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 6: Senior consumer staples equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 7: Senior healthcare equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 8: Senior financial company equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 9: Senior technology equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 10: Yahoo Finance U.S. Treasury Debt, Municipal and Corporate Bond Yields
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 3 Month | 1.64 | 1.58 | 1.41 | 1.72 |
| 6 Month | 1.86 | 1.81 | 1.85 | 2.13 |
| 2 Year | 2.70 | 2.60 | 2.63 | 2.80 |
| 3 Year | 2.58 | 2.47 | 2.54 | 2.74 |
| 5 Year | 3.43 | 3.32 | 3.41 | 3.52 |
| 10 Year | 4.10 | 4.00 | 4.08 | 4.10 |
| 30 Year | 4.68 | 4.60 | 4.65 | 4.64 |
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 2yr AA | 2.30 | 2.26 | 2.29 | 2.69 |
| 2yr AAA | 2.26 | 2.32 | 2.19 | 2.49 |
| 2yr A | 2.72 | 2.72 | 2.53 | 2.76 |
| 5yr AAA | 3.04 | 3.02 | 2.91 | 3.30 |
| 5yr AA | 3.11 | 3.07 | 2.92 | 3.44 |
| 5yr A | 3.14 | 3.14 | 3.10 | 3.46 |
| 10yr AAA | 3.79 | 3.79 | 3.66 | 3.98 |
| 10yr AA | 3.74 | 3.76 | 3.64 | 3.94 |
| 10yr A | 3.81 | 3.87 | 3.69 | 3.96 |
| 20yr AAA | 4.74 | 4.81 | 4.85 | 4.83 |
| 20yr AA | 4.94 | 4.94 | 4.77 | 4.92 |
| 20yr A | 4.84 | 4.83 | 4.70 | 4.87 |
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 2yr AA | 4.53 | 4.46 | 4.47 | 4.29 |
| 2yr A | 4.95 | 4.93 | 4.92 | 4.75 |
| 5yr AAA | 5.22 | 5.09 | 5.18 | 5.15 |
| 5yr AA | 5.63 | 5.52 | 5.80 | 5.39 |
| 5yr A | 6.22 | 5.97 | 6.40 | 5.77 |
| 10yr AAA | 5.53 | 5.50 | 5.48 | 5.67 |
| 10yr AA | 6.35 | 6.23 | 6.39 | 6.33 |
| 10yr A | 6.33 | 6.23 | 6.40 | 6.13 |
| 20yr AAA | 6.25 | 6.35 | 6.51 | 6.36 |
| 20yr AA | 6.05 | 6.15 | 6.30 | 6.33 |
| 20yr A | 6.51 | 6.61 | 6.76 | 6.61 |
Table 11: Interest-sensitive securities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 12: Senior gold equities
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 13: International equities perspective
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Table 14: Dow 30 List
| Symbol | Close | 1Day Change |
1Day %Change |
1W %Change |
2W %Change |
4W %Change |
YTD %Change |
3M %Change |
6M %Change |
12M %Change |
Posted by Posted by Bill Cara on July 26, 2008 06:27:09 AM | Category: Daily Report








