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September 6, 2008
Daily Report for Sat, Sep 06, 2008
Friday trading in NY can be broken into pre and post-close Europe parts. While Europe was open, the major US equity market indexes plunged, consistent with Asia-Pacific earlier in the day. Then after 11:30am ET, there was a sudden and sharp reversal, closing the session slightly to the positive.
In NY, the DJIA (+32.73 +0.29% to 11220.96), S&P 500 (+5.48 +0.44% to 1242.31), and the NASDAQ Composite (-3.16 -0.14% to 2255.88) ended mixed.
In Canada, the Toronto Composite (flat at 12816.42) tagged along, but the Venture Board (-0.95% to 1812.11) remained weak.
The Asia-Pacific stocks: Australia (-2.01% to 4949.5), Shanghai (-3.29% to 2202.4), Hong Kong (-2.24% to 19933.3), Japan (-2.75% to 12212.2) and India (-2.79% to 14483.8) all sank to comparable levels following the Thursday smash-up in NY.
In European trading, the French CAC, German DAX and UK FTSE closed down -2.49%, -2.52% and -2.26% respectively at 4196.66, 6127.44 and 5240.70. As noted Friday morning after these bourses opened weak, indicating a weak open in NY, “… these losses today so far are just a catch-up and not an indication of what might happen in NY later in the day.” Did I get that right! As soon as Europe closed, NY was lit up with green lights.
Commodity prices were quiet on Friday; Crude Oil ($WTIC) dropped -$1.66/bbl to 106.23 and $GOLD dropped -$0.40/oz to 802.80. $SILVER was unusually weak.
In NY equity trading, the strongest sector, by far, was Financials (XLF +3.6%) – but it was down -4.9% on Thursday. Banks ($BKX +4.8%) made up for the prior day’s loss. Utilities (XLU -2.1%) was the big loser, pushed down by the large loss in Exelon (EXC -8.0%). Semi-conductors ($SOX +2.2%) was a winner, pulled up by the Sanyo interest in acquiring SanDisk (SNDK +31.1%).
For the extreme price changes in the stocks of the high quality Cara 100 companies, where the trading volumes were stronger again, SNDK (+31.1%) led the pack on 55 million shares traded. This stock is now in play. POT (+7.8%), TCK (+4.5%) and VCP (+4.4%) – all commodity plays – were strong. The losers were Exelon (EXC -8.0%) and Nokia (NOK -7.6%). But there were 17 of the Cara 100 that hit intra-day 52-week lows on Friday.
The SanDisk story may or may not be true. I note that weekly magazine Business Week carried the story on Friday. It seems odd that a daily paper or TV reporter didn’t break the story.
The Exelon (EXC) share price crash happened after the largest US operator of nuclear power plants submitted an application to build and operate a two-reactor plant near San Antonio TX.
In forex markets, the Euro continued to weaken (-0.60% to 1.4234) with the globally trade-weighted $USD lifting +0.38% to 78.94. The Yen dropped -0.36% to 93.01, correcting after a powerful +1.06% rally on Thursday. The British Pound lost -0.22% to 1.7636, while the Cdn Loonie gained +0.52% to 94.09.
Traders had earlier in the week been moving capital to safety in the form of US Treasury instruments. But Friday was quiet as the long bond ($USB) was completely flat at 119.94. Yields stayed pretty much flat across the board, closing at: 4.276, 3.666, and 2.919 for the 30-year, 10-year and 5-year bonds and notes respectively. The T-Bill yield dropped a tad to 1.640.
The closing prices of the futures were: Oct Crude Oil at 106.23; and Sept DJIA at 11227.
In the cash (spot) precious metals market, closing prices at week’s end were: gold at 802.80, palladium at 270.5, platinum at 1367, and silver at 12.22. There was some weakness during the day, particularly for silver.
Comments
After the US Jobs data was published at 8:30am ET, the DJIA futures sank and the market continued south for two hours. Suddenly – maybe it was a leak that Fannie and Freddie would be saved by this Administration – US equity prices firmed.
Whatever is happening with Fannie and Freddie seems to me to be a well-crafted maneuver by Washington insiders (Mr. Moral Hazard instantly comes to mind) to help Wall Street in the remaining days of this Administration. Oh sure there will be cries by panic-stricken investors that Fannie and Freddie are on the verge of collapse and that this single problem is the source of America’s economic and financial stress (ie, simultaneous economic recession and credit crunch) at the moment. But, as I see it, the ‘Blame it on Fannie & Freddie’ story is being scripted by public relations propagandist of the first order, Hill & Knowlton. Let’s just say for the record that the Boards of Directors and CEOs of Fannie & Freddie have quite recently publicly announced that their enterprises have adequate capital to sustain operations until well past the coming change of Administration. Then, why the panic?
What is wrong with America – the greed and gluttony of Wall Street and Washington insiders – will look like smack-mouth football in the next month, and the central characters behind it won’t give a damn. This is wrong – they know it; you know it.
The fact there is nothing you can do about it – to the detriment of your children and their children – is a tragedy. The decisions made in September and October by your elected representatives – societal leeches of the highest order -- will steal the wealth created by a whole generation of Americans.
PIMCO, the Fed of NY, the Treasury Secretary – oh my! Mom & Pop, you have been set up for a fleecing.
Yes, these are interesting times.
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 | 1.67 | 1.62 | 1.64 | 1.58 |
| 6 Month | 1.87 | 1.82 | 1.88 | 1.85 |
| 2 Year | 2.30 | 2.17 | 2.36 | 2.57 |
| 3 Year | 2.14 | 2.01 | 2.17 | 2.42 |
| 5 Year | 2.91 | 2.85 | 3.09 | 3.31 |
| 10 Year | 3.70 | 3.63 | 3.81 | 4.04 |
| 30 Year | 4.30 | 4.27 | 4.42 | 4.69 |
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 2yr AA | 2.21 | 2.20 | 2.15 | 2.39 |
| 2yr AAA | 2.16 | 2.18 | 2.13 | 2.14 |
| 2yr A | 2.41 | 2.45 | 2.21 | 2.48 |
| 5yr AAA | 2.70 | 2.71 | 2.72 | 3.04 |
| 5yr AA | 2.69 | 2.73 | 2.82 | 3.07 |
| 5yr A | 2.73 | 2.77 | 2.89 | 3.27 |
| 10yr AAA | 3.42 | 3.47 | 3.56 | 3.76 |
| 10yr AA | 3.42 | 3.47 | 3.52 | 3.69 |
| 10yr A | 3.51 | 3.49 | 3.61 | 3.78 |
| 20yr AAA | 4.50 | 4.37 | 4.56 | 4.75 |
| 20yr AA | 4.56 | 4.46 | 4.62 | 4.80 |
| 20yr A | 4.77 | 4.73 | 4.80 | 5.11 |
| Maturity | Yield | Yesterday | Last Week | Last Month |
|---|---|---|---|---|
| 2yr AA | 4.19 | 4.09 | 4.16 | 4.35 |
| 2yr A | 5.23 | 5.36 | 4.83 | 4.88 |
| 5yr AAA | 4.73 | 4.63 | 4.80 | 4.95 |
| 5yr AA | 5.45 | 5.36 | 5.43 | 5.46 |
| 5yr A | 5.41 | 5.46 | 5.69 | 5.71 |
| 10yr AAA | 4.73 | 4.67 | 4.60 | 4.82 |
| 10yr AA | 6.23 | 6.30 | 5.69 | 6.20 |
| 10yr A | 6.19 | 6.23 | 6.05 | 6.26 |
| 20yr AAA | 5.80 | 5.69 | 5.94 | 6.44 |
| 20yr AA | 5.79 | 5.85 | 5.74 | 6.23 |
| 20yr A | 5.99 | 5.87 | 6.19 | 6.69 |
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 September 6, 2008 09:36:06 AM | Category: Daily Report








