STOCK MARKET WATCH, WEDNESDAY JULY 9.........(#1)

[ozymandius]

Wednesday July 9, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 561
REICH-WING RUBBERSTAMP-Congress = DAY 241
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 212 DAYS
WHERE'S OSAMA BIN-LADEN? 1 YEAR, 270 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 111
DAYS SINCE ENRON COLLAPSE = 596
Number of Enron Exec's in handcuffs = 17
ENRON EXEC'S CONVICTED = 0
Other Arrests of Exec's = 53

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




AT THE CLOSING BELL ON July 8, 2003

DJIA.......9,223.09 6.30 (+0.07%)
NASDAQ.......1,746.50 25.79 (+1.50%)
S&P 500.......1,007.84 3.42 (+0.34%)
10-Year Bond....3.74% +0.08
DOW..........................NASDAQ.......................S&P

||


GOLD, EURO, YEN and Dollars


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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

[ozymandius]

1. Hi folks. The Internet didn't want me on it this morning.

So I had to shoulder my way through the door somehow.

[Maeve]

2. Glad you made it!

We had some terrible storms last night and our power was out for 10 hours (some in the area may not get electricity for days yet!). Eldest Son without computer access--he was going thru withdrawl pains!

Looks like a less than hopeful day on Wall Street with futures down and the European markets drooping.

[ozymandius]

6. Good morning Maeve.

I am glad that Internet access withdrawal was the extent of the severity of the storms for you and yours.

I was reading here late last night and getting an image of a rolling boil about to erupt over the Niger/Iraq uranium claims. Looks like a fire is about to heat up the soles of Bush's feet. I wonder how this will translate into the markets.

[Maeve]

3. Market Wrap-up--financial Sense On-line from Tuesday

Stocks Add to Yesterday’s Gains
The high flying NASDAQ Composite Index added another 25 points today, which has extended the rally since the October lows of last year to make a new 14-month high. The Dow Industrials remained in negative territory for most of the day, but a late surge of buying pushed the Industrials into the plus column by six points with a close of 9,223, while the S&P 500 also added marginally to yesterday’s gains with an increase of three points to close at 1,007. The debate rages on; are we in a new bull market or are we at the tail-end of a bear market rally? It doesn’t really matter much what you call it; the question remains, will stocks continue to climb or roll-over to new lows?

What bothers me most about this rally is the fact that there is nothing out there that can justify the fundamental valuations. Stocks are still way too expensive for the amount of earnings they will generate for the shareholders. This rally is being driven by pure momentum, hope and hype. This is what the professionals refer to as a “technical rally.” Don’t even trouble yourself by looking at business plans, debt ratios, price/earnings ratios, sales growth, etc. Fundamentals don’t work when fund managers, individual investors and institutions are chasing returns to buy anything that’s moving up in price.
<more>

[ozymandius]

5. Stocks Set to Stumble; Earnings in Focus

NEW YORK (Reuters) - Stocks are set to ease a bit at Wednesday's open as some investors cash in their chips after two days of gains and await fresh direction from corporate earnings reports.

<..cut..>
The Standard & Poor's 500 index .SPX is up about 26 percent since it sank to its worst levels of the year in mid-March, and the Nasdaq Composite is up 37 percent over the same period.

"We're coming into the fourth month of the advance with no correction and a moon shot on Monday. It held together yesterday, but there's going to be profit-taking," said Larry Wachtel, market analyst at Prudential Securities, a division of Wachovia Securities LLC.

story

[JNelson6563]

4. Good morning all!

Well it should be interesting to watch Team Bush continue their blame-placing, finger-pointing dance. Will it play into the markets? Probably. I'd bet on it.

I'll miss most of the morning action--violin lessons...

Will check in alter--Ozy, glad the net let you in and Maeve, glad you survived the storm.

Julie

[ozymandius]

7. Good morning Julie.

When one considers how many leaps the wire from my computer has to make to the main switching station, it's a wonder that I am on the net at all.

I will, too, be away frm the computer most of the day. Another big project is getting started. I look at this this way: DU will receive another contribution from today's efforts.

[Maeve]

8. And I'll be out around lunchtime

Well, all the folks who read but seldom post--this is your chance!

Markets falling 12 minutes in
Dow 9,188.92 -34.17 (-0.37%)
Nasdaq 1,744.84 -1.62 (-0.09%)
S&P 500 1,005.83 -2.01 (-0.20%)

[ozymandius]

9. 9:43 and red is the word

DJIA 9,183.17 -39.92 (-0.43%)
NASDAQ 1,742.23 -4.23 (-0.24%)
S&P 500 1,005.22 -2.62 (-0.26%)

[ozymandius]

10. Ya know - I really miss the 'I Ching' forecasts.

Has anyone seen Constantina around these parts since the DU2 switchover?

[Maeve]

11. A quick search says she may not have made it yet

I miss her, too! :-(

[Maeve]

12. 10:04 bouncing back down

Dow 9,181.14 -41.95 (-0.45%)
Nasdaq 1,742.10 -4.36 (-0.25%)
S&P 500 1,004.74 -3.10 (-0.31%)

[Maeve]

13. 10:31 and climbing out of the hole

Dow 9,216.44 -6.65 (-0.07%)
Nasdaq 1,754.26 +7.80 (+0.45%)
S&P 500 1,009.55 +1.71 (+0.17%)

[ozymandius]

14. 10:43 and DJIA heading south again

DJIA 9,189.06 -34.03 (-0.37%)
NASDAQ 1,749.10 2.64 (0.15%)
S&P 500 1,006.81 -1.03 (-0.10%)

[ozymandius]

15. 11:16 and sinking like a rock

DJIA 9,152.22 -70.87 (-0.77%)
NASDAQ 1,745.12 -1.34 (-0.08%)
S&P 500 1,002.98 -4.86 (-0.48%)

[ozymandius]

16. Hello, I must be going.

I'll be away for the rest of the market day. Work calls.

Please try to think positively about the heat on Bush. Have a wonderful afternoon!

Oz

[JNelson6563]

17. 2:11 and things are a bit grim

thought not as bad as I saw earlier....


Dow 9,155.79 -67.30 (-0.73%)
Nasdaq 1,745.50 -0.96 (-0.05%)
S&P 500 1,002.85 -4.99 (-0.50%)
10-Yr Bond 3.702% -0.031


zzzzzzzzzz.......

Julie

[Maeve]

19. Yeah, the Nasdaq is almost break-even!

Guess my shopping didn't have its usual good effect of the markets. Well, maybe tomorrow! Couldn't find one thing I was looking for.......

[Robbien]

18. Slowly coming back from Noon lows, still red at 2:04p

DJIA 9,159.39 -63.70 (-0.69%)
NASDAQ 1,745.45 -1.01 (-0.06%)
S&P 500 1,003.13 -4.71 (-0.47%)

And the blather includes this interesting comment: "Upgrade of Halliburton (HAL 23.54 +0.71) to Overweight from Neutral at JP Morgan citing, among other things, the appealing risk/reward of the stock upon closure of its asbestos problems... "

Edit: Whoops, sorry for the cross posting.

[Maeve]

20. And going into the final hour (2:58)

Mixed, with the Nasdaq doing better.

Dow 9,170.29 -52.80 (-0.57%)
Nasdaq 1,750.85 +4.39 (+0.25%)
S&P 500 1,004.36 -3.48 (-0.35%)

[silverchair]

21. does anyone think

the DOW will ever reach 10,000?

[radfringe]

23. Not as long

as AWOL and the Repugs are in power....

[radfringe]

22. Marketeers don't look all that happy today

Where did all the bad-news bulls go? AWOL ducked questions about Niger-Iraq connection, brushed it off as revisionist history. Looks like this is the new improved excuse, wonder when they will get around to blaming Clinton....

Zinged a co-worker today about the economy... He maintained that the "boom" of the 90's was because of the Republican Congress and NOT Clinton.

So I asked him if we currently have a Republican Congress, and a Republican pResident then doesn't that make them responsible for the economy floating in the toilet?

He did try to blame Clinton for the "bust" - so I asked him if Repugs place soooo much emphasis on the values of responsibility then why are they trying to avoid taking responsibility by blaming Clinton? If the boom was a Republican Boom, and the republicans are still in charge (even more so now) then aren't they responsible for the economy being in the toilet? I followed it up by asking how much of AWOL's taxcut did he get.... I know he earns less than me, and is single so it's under a $1.00 a week....

He just called me a damn liberal partisan and walked away - I replied by saying "yep and damn proud to be a damn liberal partisan too!"

:evilgrin: oh well, what can you expect from a damn conservative partisan anyways.... :evilgrin:

Meanwhile.... about that Niger-Iraq forgery.... some questions that WON't be answered....

1. How did WH obtain the documents?

2. Where/from whom did the documents originate? Who forged them and more importantly WHY?

3. Why wasn't our "experts" able to spot them as a forgery when it took the UN experts less than an hour to determine that they were forgeries?

4. Why did the WH wait till July to admit they were forgeries when (by their own admission) they knew of the forgery in February?

5. What was the "vetting" process for determining validity of documents/intelligence reports?

Magic 8-ball:Marketeers are in the jitters over the Niger-Iraq forgery,the mess that Iraq is in, our soldiers keep getting killed and now AWOL wants to do a regime change in Liberia.... Dubya-Dubya-3 is the only thing coming to mind.

Look for waffling on the markets until the marketeers perceive some direction on all of this. Right now they don't know if they should "sh*t or get off the pot". The pump and dump for pennies is about over.

Don't forget next month AWOL goes on vacation, wonder what new PRODUCT he will roll out in September.....

[Maeve]

24. So good to get your input, rad!

Especially since I tend to agree with you... :P

Dow 9,168.82 -54.27 (-0.59%)
Nasdaq 1,752.46 +6.00 (+0.34%)
S&P 500 1,004.69 -3.15 (-0.31%)

[JNelson6563]

25. heh heh

Is that why I enjoy Rad so much too? Cause I always agree with her....? haha Funny how that works, huh?

Well we're just coming up on that closing bell, 3:57:


Dow 9,146.76 -76.33 (-0.83%)
Nasdaq 1,743.94 -2.52 (-0.14%)
S&P 500 1,001.59 -6.25 (-0.62%)
10-Yr Bond 3.706% -0.027

Looks like the DOW has lost about 20 pts. since last glance some 10-15 minutes ago. Things seem to be getting shakier and shakier.

Julie

[Maeve]

26. Profits are made to be taken

And sell-offs follow rallies, so.....
Looks like the Nasdaq end above water(just), but the same cannot be said for the other indices.

Final numbers:
Dow 9,155.86 -67.23 (-0.73%)
Nasdaq 1,747.52 +1.06 (+0.06%)
S&P 500 1,002.20 -5.64 (-0.56%)