STOCK MARKET WATCH, WEDNESDAY OCT 15....(#1)

[ozymandius]

Wednesday October 15, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 467
REICH-WING RUBBERSTAMP-Congress = DAY 331
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 306 DAYS
WHERE'S OSAMA BIN-LADEN? 1 YEAR, 364 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 206
DAYS SINCE ENRON COLLAPSE = 690
Number of Enron Execs in handcuffs = 17
ENRON EXECS CONVICTED = 1
Other Arrests of Execs = 53

U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES-----------------------------S&P FUTURES




AT THE CLOSING BELL ON October 14, 2003

Dow... 9,812.98 +48.60 (+0.50%)
Nasdaq... 1,943.19 +9.66 (+0.50%)
S&P 500.... 1,049.48 +4.13 (+0.40%)
10-Yr Bond... 4.35% +0.10 (+2.23%)
Gold future... 376.20 +0.50 (+0.13%)

DOW..........................NASDAQ.......................S&P

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GOLD, EURO, YEN and Dollars


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PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [e-mail]

For information on protests and other actions Citizens For Legitimate Government

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[ozymandius]

1. Well, I was about to post the WrapUp.

But dang! That thing is dry as chalk dust. There's so much technical babble and charts that make it sound like a textbook for Econ 101 students. So here are a few snippets of Jim Puplava's latest editorial. Some of which was posted yesterday but deserve repeating.
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Main Street

It has been the best of times and the worst of times, depending on your perspective. Economists are calling the recession of 2001 the mildest downturn in recent memory. Stocks went down as company profits fell, but consumer spending remained firm putting a floor underneath the economy. Although stock prices plummeted during the last three years, the loss in equities has been made up by housing appreciation.

<cut>

If the consumer and housing sector have remained strong, prospects for business have been less than stellar. Business conditions have remained weak, profits have been hard to come by and capital spending is lethargic.

Main Street (the bodacious, the forlorn, and the surreal)

A good friend of mine is a mortgage broker here in San Diego for one of this nation’s leading banks. He works in the home equity division of the company handling home equity loans from $25-100,000. Over dinner the other night I asked him about the refi market. Is it still going strong or has is slackened off? He told me that the company is getting about 350 applications a day, down from the furious pace of 500-600 applications from last May and June. Nevertheless, the 350 number was a good number which was keeping his department busy. The 500-600 a day number from last May was an aberration. It reflected the drop in bond yields to 3% on the 10-year note last May after the Fed said it was worried about deflation. Business slowed down in July and August as rates rose, but things are back to a busy pace again as rates have come down again. I asked him if homeowners were still going to the well. He said that they were and in many cases on multiple occasions. There is widespread evidence that the bubble in refis here in southern California remains in force.

more

[Maeve]

5. Follow up story--Mortgage demand drops

Applications for mortgages slip to lowest level since April
NEW YORK (Reuters) - Applications for mortgages to buy homes, often seen as an early indicator of home sales, fell last week to their lowest level since April, as rates edged higher, a trade group said Wednesday.
The Mortgage Bankers Association of America said its index of applications for mortgages to buy homes fell 18.6 percent in the week ended Oct. 10, to 359.0, its lowest level since the week ended April 25
However, even if the decline in applications signals that home sales are likely to fall later this year, few economists expect sales to plummet, because rates are still low by historical standards. Home sales, which have provided crucial support to the economy, are so far on track to set a record this year

[JNelson6563]

6. I wonder what the ratio

of reporting this story will be in comparison to the companies that beat the Street's expectations by a couple of pennies.

This is today's wet blanket factor, at least one of them as the day is young. I'll be checking in on Treasuries to see how this plays into things.

Julie

[Maeve]

7. The lovely expectations game!

Set the bar low enough and every jump over it looks amazing...

[JNelson6563]

2. Good Wednesday Morning!

hahaha!! Great toon!

Well so far the futures are bright and sunny! It's all so wonderful.

I have to wonder if the attack in Gaza where 4 Americans died will play into things today. Will Bush see this as an opportunity to kick off Armageddon? More later, haven't taken in much financial news yet.

Julie

[JNelson6563]

3. Intel beat estimates

Get thee to the Buy window!! Post haste!!

Julie

[JNelson6563]

4. Fleet Boston; good quarter

FB beat estimates by .03 a share coming in at .61 a share.

No surprise here, the American consumer is swimming in debt, I should expect banks to be rolling in profits. I have to wonder how much of the tax-bribe, er, advance refund will find it's way to the coffers of those who issue credit cards, namely banks. I suspect some went to the retail sector as in back-to-school, home improvement and the rest to credit card payments.

Hey if it serves as a patch for the third quarter that's all that matters, right? Of course now we need a gimmick for the fourth quarter. Hmmmm.

More later, almost time to get child #2 up and out. :-)

Julie

[JNelson6563]

8. Retails sales down 2%

ex-autos up 3%

It seems to be warmly received.

Julie

[UpInArms]

9. daily dollar watch

and we are seeing green!

wonder how the Asian market will receive *'s statements later this week? Not a clue here.

http://quotes.ino.com/chart/?s=NYBOT_DXY0

Last trade 92.32 Change +0.49 (+0.53%)

have a great day marketeers!

[Maeve]

10. 9:47 and starting cheerful

But losing some of its good spirits...
Dow 9,832.23 +19.25 (+0.20%)
Nasdaq 1,957.00 +13.81 (+0.71%)
S&P 500 1,051.72 +2.23 (+0.21%)
10-Yr Bond 4.411% +0.061

[JNelson6563]

11. 9:52 things are slowing down Big Time

Dow 9,821.05 +8.07 (+0.08%)
Nasdaq 1,953.00 +9.81 (+0.50%)
S&P 500 1,050.73 +1.24 (+0.12%)
10-Yr Bond 4.407% +0.057

10 yrs. getting slapped early.

Julie

[Maeve]

12. 10:04 and some red showing

Dow 9,805.64 -7.34 (-0.07%)
Nasdaq 1,946.80 +3.61 (+0.19%)
S&P 500 1,048.21 -1.28 (-0.12%)
10-Yr Bond 4.405% +0.055

:shrug:

[Maeve]

13. 10:31 and ALL red

Dow 9,782.90 -30.08 (-0.31%)
Nasdaq 1,942.61 -0.58 (-0.03%)
S&P 500 1,046.38 -3.11 (-0.30%)

[JNelson6563]

14. 11:00 Update pretty flat

Dow 9,805.80 -7.18 (-0.07%)
Nasdaq 1,946.57 +3.38 (+0.17%)
S&P 500 1,048.26 -1.22 (-0.12%)
10-Yr Bond 4.412% +0.062


*yawn*

Beige book out today, right?

Julie

[Coventina]

15. The "I Ching" on today's market

Hello everyone!

I know my reports have become spotty. It's because I do this first thing in the morning, and if stuff is hitting the fan the second I get up, well, a reading doesn't happen.

Anyway, today's reading once again has no changing lines. The only hexagram shown is NOURISHING. Here is a quote, "If you consistently nourish superior persons, who will in turn provide nourishment for others, you can achieve great effects. Through nurturing and support, social and political aims can now meet with success."

I think Ching is pretty consistently asking us to think about where our money is going, and to what purpose. It doesn't seem like Ching wants to talk about market direction much lately. Well, I know I have been watching my pennies more closely as of late, as I'm sure most of us have in this Bush economy.

I think the markets will be pretty flat today. Unless something really dramatic happens. How's that for a wishy-washy reading?

[JNelson6563]

16. as of 11:52 you're right

Hey Coventina, thanks for checking in! Things are looking pretty flat right about now (subject to change without notice). :hi:

Dow 9,801.40 -11.58 (-0.12%)
Nasdaq 1,947.12 +3.93 (+0.20%)
S&P 500 1,047.50 -1.99 (-0.19%)
10-Yr Bond 4.403% +0.053


Julie

[Maeve]

17. 12:54 and comfortably in the black

Dow 9,829.94 +16.96 (+0.17%)
Nasdaq 1,951.54 +8.35 (+0.43%)
S&P 500 1,050.13 +0.64 (+0.06%)
10-Yr Bond 4.405% +0.055

[silverchair]

18. hey everyone

it's been a while since i have visited the forums. i see the same folks are still at it. well, do you think the Dow will hit 10,000? i don't know, but it seems like the economy is doing okay. i read something a while ago about how the economy this time around will not affect bush's re-election, unlike his father. unfortunately, i am still seeking work even though it's been a little over a year since i have been laid off. it's good to be back though.

[Maeve]

20. Welcome back!

While the economy is not totally tanked like it was, the recovery is still very, very fragile and based to some extent on massaged numbers (one of the Economic forum folks was up here yesterday and some of them are majorly worried!). In other words, the economy may be "okay", but not really "good". And way too many people are in the same fix you're in.

A lot can happen in the next year.

[sirshack]

21. I think it will....

...get back to 10,000. From what I've gathered via talking heads and news articles, generally the modd is that the economy is getting better generally, and when the economy gets better, or shows signs of improving the place most investors want to be is the stock market, though many will tell you that the stock market is only one of dozens/hundreds/thousands(???) of indicators.

I've seen a few that have doubts that the market will maintain a level above 10k consistently in the near future, and may not actually get into that territory solidly for 3 or 4 more years, though they tend be more of the "Motley Fool" types (not that I have anything against Motley Fool really...I just approach them skeptically).

Just from my own observations through my portfolio, the news, finance-oriented magazines, and the like...I think it's fairly likely we'll see 10K by the end of the year and be pretty well entrenched at that level for 2004.

[TrogL]

28. The dow will slither up to 10000 on inflation

rather than any specific good thing in the marketplace.

[Maeve]

19. 2:24 and yawning

Mixed and unexciting day (could be worse!), Nasdaq doing best of the bunch...

Dow 9,809.49 -3.49 (-0.04%)
Nasdaq 1,947.95 +4.76 (+0.24%)
S&P 500 1,047.94 -1.54 (-0.15%)
10-Yr Bond 4.413% +0.063

[JNelson6563]

22. 3:02 update

Dow 9,771.27 -41.71 (-0.43%)
Nasdaq 1,935.86 -7.33 (-0.38%)
S&P 500 1,043.98 -5.50 (-0.52%)
10-Yr Bond 4.399% +0.049

Anybody catch beige book #s?

Julie

[mth44sc]

23. AP report on the Fed's beige book

http://www.newsday.com/business/investing/wire/sns-ap-fed-economy,0,2909363.story?coll=sns-ap-investing-headlines

[ozymandius]

25. Fed Says Economic Activity Is Picking Up

WASHINGTON -- Economic activity was accelerating in early fall with consumer spending strong in most parts of the country and even the nation's beleaguered manufacturing sector showing signs of life, the Federal Reserve reported Wednesday.

In its latest survey of business conditions around the country, the Fed said its 12 regional banks were reporting a number of signs that the recovery from the 2001 recession was finally beginning to gain momentum.

Ten of the Fed's 12 districts reported stronger economic activity, according to information gathered in September and early October while the other two -- Boston and Cleveland -- reported economic activity was mixed but at least not declining.

story

[silverchair]

24. thanks for informing me guys

this forum is very enlightening. i will visit more often to get the latest market news. hope the rest of your day is wonderful. see you tomorrow.

[ozymandius]

26. You're welcome. Thanks for dropping by. Here are the 3:29 numbers.

Dow 9,789.79 -23.19 (-0.24%)
Nasdaq 1,937.12 -6.07 (-0.31%)
S&P 500 1,045.23 -4.26 (-0.41%)
10-Yr Bond 4.397% +0.047

[Maeve]

27. Final figures for the day

Dow 9,803.05 -9.93 (-0.10%)
Nasdaq 1,939.10 -4.09 (-0.21%)
S&P 500 1,046.76 -2.73 (-0.26%)
10-Yr Bond 4.397% +0.047

[JNelson6563]

29. not too bad

considering...

Thanks for wrapping it up all. See you in the mornin'! :hi:

Julie