XLF=14.26 Friday pp=?

[lookingherethere]

Hey guy's Good Morning!!

[lookingherethere]

Released on 2/19/2010 8:30:00 AM For Jan, 2010
Prior Consensus Consensus Range Actual
CPI - M/M change 0.1 % 0.3 % 0.2 % to 0.4 % 0.2 %
CPI less food & energy 0.1 % 0.1 % 0.1 % to 0.2 % -0.1 %


Market Consensus Before Announcement
The consumer price index in December eased to a 0.1 percent inflation rate from 0.4 percent in November. Core CPI inflation also was soft at 0.1 percent although higher than November's flat reading. Weakness in the CPI was largely in the housing component and especially the shelter subcomponent which was flat and reflected the weak housing market and high vacancy rates in apartments. Food and energy components were up in the latest month but at a relatively moderate pace for both. Energy rose only 0.2 percent after a 4.1 percent surge in November. Food inflation firmed to 0.2 percent from a 0.1 percent rise in November.

[abdogman]

Morinin' Guys wot up?

[ukarlewitz]

Hey LH
I exalted you for getting this show on the road this am.

We have Carl v Oscar today, always a good time.

Carl - 1093-1107 today; market shrugging off rate hike

Oscar - Need to to rally out of 1080-1120 before he turns bull again. Today, shorting 1098 with a 1080s target.

Cobra - this is the most bearish day of February according to the calendar. Also, Feb opex has been red 12 out of the last 16 years.

IT - "probably not a major breakdown on Friday. Good S at 110.35-.50. Choppy the next few days with a likely tank late next week. Spy will close above 110 Friday (to cause max number of options to expire worthless)"

gl

[lookingherethere]

Waiting on the side till after open coz it could swing hard.. the Surf report says small waves but might be fun riding a long board.


Wow, Thanks I feel Exhaulted now..

[elle]

present

[ukarlewitz]

UUP - 23.77-.8 is now key S. This was the late July and Aug high. There is also a gap to be filled to 23.86 from mid-July that we are into now. Watch this level today.

[ukarlewitz]

Uh oh, Elle's up early.

[lookingherethere]

I just noticed you went from trading desks to trading pits?? interesting. I guess you know where the bottom is in most pits..

[ukarlewitz]

Looking at the ES, I see Carl didn't leave himself much room to the upside as we are already at 1103. The overnight low was 1093.

[jack]

Feb 19, 2010 9:20:33 GMT -5 ukarlewitz said:

Uh oh, Elle's up early.

And that alone deserves its own exaltation!

[ukarlewitz]

Look at Jack, Mr Commodities Trader. There's now a corporate ladder in Fasland.

[elle]

Feb 19, 2010 9:20:33 GMT -5 ukarlewitz said:

Uh oh, Elle's up early.

;D

I'm usually up, but if I don't have a plan, I try to not listen/read much - sometimes sways me, would rather pull the pin myself.

[jack]

Feb 19, 2010 9:29:05 GMT -5 ukarlewitz said:

Look at Jack, Mr Commodities Trader. There's now a corporate ladder in Fasland.

Dunno how or why I got that moniker...would've preferred "Spit Trader".

[ukarlewitz]

UUP gap filled. If the gap fill holds, this is the new S and the next Rs are 24 and 24.08.

[elle]

So many buyers desperate to buy stocks at these prices - hunh.

[abdogman]

elle they are all dressed in red white and blue

[merrillstanley]

Good Morning,
Here is your Merrill Morning Minute:
Neutral bias this morning, ‘Blame it on the O-O-O-O-O-Opex….Blame it on the X-X-X-X-Xpriry….’
Probably buy FAS into the weekend though…
Hold on one minute, I’m not done beating this dead horse yet….There is no Volume, no tute part, if there is any, it is very light.
Now the positive from the above statement, the markets had a few good reasons to sell on bad news yesterday and they did not, shrugging off poor jobs/econ news and appears to have shook the fed’s release and may turn it into a positive spin.
Remember we’re still in a correction. Stop your losses at 7%; take gains earlier than you normally would. Bottoms may not have been made.
All the major indexes are still stuck below their 50 dma.
UK, apparently S found some support level off of 3.13 and made a nice 10% run this week.
I have noticed money flows into the Insurance sector as of recent….XL is a FAS favorite.
If you lost money in FSLR, try ESLR, you could recover some of those loses just in daily movement….but you need to stomach penny stocks.
VXX down, even from when MW and MB were talking about banks yesterday….
Enjoy the swings today, LH get out the long board and start waxin’ it…
GLTA

[elle]

Rats! I want some excitement, personal stocks aside.

[jack]

"Adrenalin junkie!!"

I like that.

[ukarlewitz]

This is, imo, an interesting morning. Uncle Buck busting a move higher, it seems to me. 23.84 has been good S. But Spy has come down, tested 110.35 and moved up, the move below 110.5 non-confirmed. If we consolidate here, you could argue for an intraday bear flag. But right now, those Spy candles look a bit too bullish. So DX and SPX moving together.

[ukarlewitz]

This is your retest of the (declining) 50dma. Not often that you see both the DX and Spy above their respective vwaps.

[lookingherethere]

JPM MS GS all pushing now, BAC has been leading all morning

[elle]

Taking off for awhile. Have a great day, Men! Hopefully Maxi, DL or DrT will be here soon.

[abdogman]

take care Elle

[worldclass422]

Good Morning... Thanks everyone for your help here.

[merrillstanley]

OH NO!!!
Tiger is about to talk....what impact will have on stocks???

just kidding

[abdogman]

Merrill they "GO UP"

[Mikey]

Hey GM all, hate to miss the morning action, just caught up - nice observation especially Merrill I'm loving that morning minute...

Had to do some damage control on the trading acct this morning:
Shorted SPG near the close yesterday in the low-77's and covered in the mid-76's for a 1% gain or so.
Shorted PCX yesterday in low-17's and covered at $16.76 for a decent 1-2% gain.

I would've left both of the above to run, but had to throw some $$ at my worst enemy - DDR. The big-box strip-mall maker was off to the races this morning, and when it smacked into $10.00 I threw all my remaining funds in the game to short the POS...got filled at $9.98 so probably have an avg cost now around $9.85 or so (at $9.95 now). Looking back on long-term charts of this stock - it's closed above $10.00 only 6 times since 11/5/08.

Still bearish overall for many reasons:
1) We have not taken out yesterday's high
2) SPY $111.0 was strong resistance yesterday and failed today
3) We have filled the overnight gap down and have many recent downside gap targets
4) We are now making a lower high than an hour ago on the Euro and crude
5) We are holding $81 on the dollar index and also have a bullish 20/50 cross on the 15-minute DX chart:

[ukarlewitz]

Oh no, man cave once again. Where's WC?

111 (50dma) is proving to be tough, as expected.

OK, I was wrong. This is a dull day. I'm going out on a bike ride for awhile. I'm exalting Bobo before I leave.