PPDT - PP-XLF = 15.94 - 5/06 Thursday

[kryptos2009]

Good Morning Gang!!
Here is the PP Daily Thread (PPDT) data.


XLF PP=15.94
MP=16.07 R1=16.19 MP=16.32 R2=16.44 MP=16.69 R3=16.94 MP=17.19 R4=17.44
MP=15.82 S1=15.69 MP=15.57 S2=15.44 MP=15.19 S3=14.94 MP=14.69 S4=14.44
O=15.76 H=16.2 L=15.7 C=15.93

FAS PP=32.10
MP=32.80 R1=33.49 MP=34.21 R2=34.92 MP=36.33 R3=37.74 MP=39.15 R4=40.56
MP=31.39 S1=30.67 MP=29.98 S2=29.28 MP=27.87 S3=26.46 MP=25.05 S4=23.64
O=30.98 H=33.54 L=30.72 C=32.05

FAZ PP=12.71
MP=12.99 R1=13.27 MP=13.54 R2=13.81 MP=14.36 R3=14.91 MP=15.46 R4=16.01
MP=12.44 S1=12.17 MP=11.89 S2=11.61 MP=11.06 S3=10.51 MP=9.96 S4=9.41
O=13.13 H=13.24 L=12.14 C=12.74

SPY PP=116.86
MP=117.31 R1=117.76 MP=118.23 R2=118.69 MP=119.61 R3=120.52 MP=121.44 R4=122.35
MP=116.40 S1=115.93 MP=115.48 S2=115.03 MP=114.12 S3=113.20 MP=112.29 S4=111.37
O=116.56 H=117.8 L=115.97 C=116.82

SPG PP=88.92
MP=89.63 R1=90.33 MP=91.25 R2=92.17 MP=93.80 R3=95.42 MP=97.05 R4=98.67
MP=88.00 S1=87.08 MP=86.38 S2=85.67 MP=84.05 S3=82.42 MP=80.80 S4=79.17
O=89.51 H=90.77 L=87.52 C=88.48

GS PP=148.87
MP=149.71 R1=150.54 MP=151.72 R2=152.89 MP=154.90 R3=156.91 MP=158.92 R4=160.93
MP=147.70 S1=146.52 MP=145.69 S2=144.85 MP=142.84 S3=140.83 MP=138.82 S4=136.81
O=148.1 H=151.22 L=147.2 C=148.19

JPM PP=42.56
MP=43.03 R1=43.49 MP=43.90 R2=44.31 MP=45.18 R3=46.06 MP=46.93 R4=47.81
MP=42.15 S1=41.74 MP=41.28 S2=40.81 MP=39.93 S3=39.06 MP=38.18 S4=37.31
O=42.11 H=43.37 L=41.62 C=42.68

MS PP=29.21
MP=29.45 R1=29.68 MP=29.87 R2=30.06 MP=30.49 R3=30.91 MP=31.34 R4=31.76
MP=29.02 S1=28.83 MP=28.60 S2=28.36 MP=27.94 S3=27.51 MP=27.09 S4=26.66
O=28.97 H=29.6 L=28.75 C=29.29

C PP=4.16
MP=4.22 R1=4.27 MP=4.32 R2=4.37 MP=4.47 R3=4.58 MP=4.68 R4=4.79
MP=4.11 S1=4.06 MP=4.01 S2=3.95 MP=3.84 S3=3.74 MP=3.63 S4=3.53
O=4.16 H=4.25 L=4.04 C=4.18

VIX PP=25.30
MP=26.07 R1=26.84 MP=27.81 R2=28.78 MP=30.52 R3=32.26 MP=34.00 R4=35.74
MP=24.33 S1=23.36 MP=22.59 S2=21.82 MP=20.08 S3=18.34 MP=16.60 S4=14.86
O=25.96 H=27.23 L=23.75 C=24.91

UUP PP=24.59
MP=24.64 R1=24.68 MP=24.72 R2=24.75 MP=24.83 R3=24.91 MP=24.99 R4=25.07
MP=24.56 S1=24.52 MP=24.48 S2=24.43 MP=24.35 S3=24.27 MP=24.19 S4=24.11
O=24.66 H=24.66 L=24.5 C=24.61

FROM: www.econoday.com

Economic Events & Analysis - 5/06/2010 Thursday

Chain Store Sales
Monster Employment Index

8:30 AM ET Jobless Claims

Released on 5/6/2010 8:30:00 AM For wk5/1, 2010
Prior Consensus Consensus Range
New Claims - Level 448 K 445 K 440 K to 450 K

Market Consensus Before Announcement
Initial jobless claims fell by 11,000 in the April 24 week to 448,000. However, the four-week average was up 1,500 to 462,500 and compares negatively with 448,000 at the end of March. But on the margin, initial claims appear to be on a slowly declining trend.

8:30 AM ET Productivity and Costs

Released on 5/6/2010 8:30:00 AM For Q1:10
Prior Consensus Consensus Range
Nonfarm productivity - Q/Q change - SAAR 6.9 % 2.6 % 1.7 % to 3.9 %
Unit labor costs - Q/Q change - SAAR -5.9 % -1.0 % -1.8 % to 1.2 %

Market Consensus Before Announcement
Nonfarm business productivity for the fourth quarter was revised up to a sharp 6.9 percent boost from the initial estimate of 6.2 percent. In turn, unit labor costs fell an annualized 5.9 percent in the fourth quarter, compared to an initial estimate of minus 4.4 percent and a revised third quarter plunge of 7.6 percent. Based on the initial estimate for first quarter GDP-up an annualized 3.2 percent-first quarter productivity will likely moderate and unit labor costs will not be as soft.

9:00 AM ET Tim Geithner Speaks
9:10 AM ET James Bullard Speaks
9:30 AM ET Ben Bernanke Speaks
10:00 AM ET Jeffrey Lacker Speaks
10:30 AM ET EIA Natural Gas Report
11:00 AM ET 3-Month Bill Announcement
11:00 AM ET 6-Month Bill Announcement
3:00 PM ET Treasury STRIPS
4:30 PM ET Fed Balance Sheet
4:30 PM ET Money Supply


NOTE:
The previous days OHLC data for todays PPDT was gathered from finance.yahoo.com for each individual stock by a series of webquerys built into a spreadsheet.
The formulas used by the www.mypivots.com website to create the Pivot Points were found in the sites help files.
The formulas were built into the spreadsheet which acts on the previous days OHLC data gathered from Yahoo.
The Pivot Points were created using the formulas from www.mypivots.com but NOT by using the site.
Please let me know if you find any errors in the data.
Use of this data is at your own risk.

[lookingherethere]

Thanks "K"!!!

[merrillstanley]

Good Morning,
Today’s Merrill Morning Minute Is being brought to you by the Magic Jack;
Now available at Wal-Mart

Full on Bear mode; however I think we continue to ride the ranges here, maybe finish up lightly
Market’s are in a correction; Raise cash or play your favorite bearish ETFs
NYSE near 40 week, others near 50 dma
As I write this Asia is once again selling off and the o/n a/h activity is up the slightest levels
All I l know is that ‘they’ probably will announce in a couple weeks that Germany will approve and all will be well again
Due note that the ‘turtle rally’ have left the building and volatility is king once again

Lesson for the day:
Action Plan During Market Corrections
When the market struggles, stock investors don’t have much recourse but to cut their exposure to stocks. That’s especially true of growth stocks, which tend to correct more than the general market.
Your stock buying may be on hold, but it’s no time to be idle. Investors must take some essential steps when the market unwinds. Call these steps an action plan for a market correction.
First, review your current holdings. If any single stock is down 7% or 8% from the price at which you bought it, sell it. Even if your stock has sold off but seems to be steadying, it’s better to sell anyway at a modest loss.
Risk characterizes market corrections, so it’s dangerous to assume that a stock will find support at its 50-day moving average or at prior lows. Remember, in a caustic market environment, losses can get out of hand quickly.
If you have a profit on some stocks, you don’t necessarily have to sell them. Study each and consider holding the ones that remain firm; they may form new bases and resume their advances once the market is healthier. Remember, stocks that give up the least during a downturn tend to be leaders of the next market uptrend.
Of course, sell any stock that flashes sell signals. Some of the most common showing up in today’s market are a plunge below the 50-day line in heavy trading, or failed breakouts.
In some cases, a leading stock’s advance becomes overheated and you need to look for signs of a climax top. Watch out for any stock that, after a prolonged advance, suddenly accelerates its climb, adding 25% to 50% in one to three weeks. A gap-up in price or the biggest point gain in the entire run-up, are other symptoms of a climax top.

FWIW:
Looking at price momentum for the indexes, still some downside and not expecting a resurgence until sometime next week.
Would be very, very beary if the TRANs breaks thru 4300; if DOW punches thru 10720…growl


Tute Participation:
NASD: “D-” Down 2 ticks
NYSE: “E”
S&P: “E“ Down 1 tick
DJIA: “D-” Down 1 tick
“A” ratings equate to strong accumulation; “E” ratings equate to strong distribution

Investment Ideas:
1150? 1090? Anyone…Anyone…Bueller…Bueller
Brasil is down nearly 10% again

ETF Role Call:
6 Month Returns
DRN 87.3 TNA 68.6 URE 63.3
DRV -65.8 TZA -51.4 vxx -49.1

Quote(s) of the Day:

“Success is how high you bounce when you hit bottom.” Patton

Thought of the day:
My playoff beard is filling in nicely…itchy tho’
Goto Charts and Chats and follow Dualism's posts

GLTA, invest accordingly

[ask2lern]

Morning Gang………………… Thanks for the #'s K and the Merrill minute.........................

GOLD

R4 1236.67
Mid Point 1225.62
R3 1214.57
Mid Point 1203.52
R2 1192.47
Mid Point 1188.50
R1 1184.53
Mid Point 1177.45

Pivot Point 1170.37

Mid Point 1166.40
S1 1162.43
Mid Point 1155.35
S2 1148.27
Mid Point 1137.22
S3 1126.17
Mid Point 1115.12
S4 1104.07

SILVER

R4 19.53
Mid Point 19.18
R3 18.83
Mid Point 18.48
R2 18.13
Mid Point 17.98
R1 17.82
Mid Point 17.63

Pivot Point 17.43

Mid Point 17.28
S1 17.12
Mid Point 16.93
S2 16.73
Mid Point 16.38
S3 16.03
Mid Point 15.68
S4 15.33

IWM

R3 72.34
R2 71.64
R1 70.78

PP 70.08

S1 69.22
S2 68.52
S3 67.66


TNA

R3 67.06
Mid Point 65.04
R2 63.03
Mid Point 61.91
R1 60.78
Mid Point 59.89

PP 59.00

S1 56.75
Mid Point 55.86
S2 54.97
Mid Point 52.95
S3 50.94
Mid Point 48.92

TZA

R3 7.08
Mid Point 6.88
R2 6.67
Mid Point 6.58
R1 6.49
Mid Point 6.38

PP 6.26

Mid Point 6.17
S1 6.08
Mid Point 5.97
S2 5.85
Mid Point 5.65
S3 5.44
Mid Point 5.24

…. …………..GLTA

[clearwaters]

Thank you for the numbers and all the invaluable information! You guys are so helpful!

[ukarlewitz]

Morning

China - The SSEC cut loose last night. It dropped 4%. It ended on the low. Commodity weakness?

Oscar - neutral

Carl - since we closed below 1177,according to yesterday's post, a touch at 1150 must be next.

Cobra - major distribution day is followed by a bounce. And then more selling.

Out late last night, so that's all I got. Back in a bit.

[abdogman]

Good Morning Gang....Kryptos and Ask2 thx for nmbrs...Merrill thx for minute..UK thx.....GLTA
Back for the open..................

[lookingherethere]

The Monster employment index jumped 8 points in April to 133 for the biggest increase in nearly three years and the latest indication of recovery for the jobs market. Job postings in transportation & warehousing are on the rise as shippers respond to growing demand and slowing delivery times, and construction showed strength in a sign of recovery likely centered in the residential sector. Retail trade and manufacturing also gained, two sectors that have been showing building strength, as did mining. The data are seasonally adjusted.

[deadmoney95]

May 6, 2010 7:22:04 GMT -5 ukarlewitz said:

Out late last night, so that's all I got. Back in a bit.

Mlle Theuriau ?

[flydick]

This is really helpful to some of us less productive students here....Thanks for the daily info Kryp and Ask2....

[Rich]

I ache all over. Think I'm gonna take it easy today and hit the links. If I can grip a golf club.

Futures are weak, wonder if buyers will step in here. You would think so, but....

Maybe I'll hold on to those 90(30) puts.

[lookingherethere]

Unemployment claims improved for a third straight week but far from dramatically. Initial claims for the May 1 week fell 7,000 to 444,000, pulling the four-week average down 4,750 to 458,500. The prior week was revised 3,000 higher to 451,000. Continuing claims for the April 24 week fell 59,000 to 4.594 million, though the four-week average for this reading rose slightly to 4.649 million. The unemployment rate for insured workers is unchanged at 3.6 percent.

[lookingherethere]

May 6, 2010 7:47:48 GMT -5 deadmoney95 said:

May 6, 2010 7:22:04 GMT -5 ukarlewitz said:

Out late last night, so that's all I got. Back in a bit.

Mlle Theuriau ?

Did she have that nice piggy bank with her?

[ukarlewitz]

Carl - 1148-68 today. ES now at 1160.

I have no idea, but I'm betting early weakness to scare everyone and then a set up for a monster jobs number tomorrow. Spy formed a spinning top (indecision) but I see some bullish engulfing candles in X and NUE and CLF.

[ukarlewitz]

Mmmmmmelissa. And her piggy bank. She'll soon be a Euro refugee, looking for shelter in safe haven USA.

[Rich]

Meredith was on Bloomberg yesterday. She may be making the rounds again.

[flydick]

May 6, 2010 8:00:22 GMT -5 lookingherethere said:

Unemployment claims improved for a third straight week but far from dramatically. Initial claims for the May 1 week fell 7,000 to 444,000, pulling the four-week average down 4,750 to 458,500. The prior week was revised 3,000 higher to 451,000. Continuing claims for the April 24 week fell 59,000 to 4.594 million, though the four-week average for this reading rose slightly to 4.649 million. The unemployment rate for insured workers is unchanged at 3.6 percent.

Improved??? Not os sure....Unfortunately, the Fed has hired about 500-700 of the 1.1M census workers OFF OF THE UNEMPLOYMENT lines yet we are only showing 7000 in growth?

And worse, not a word from our pals at CNBC about this fact. All is not necessarily what it appears.

[jack]

May 6, 2010 7:50:49 GMT -5 flydick said:

This is really helpful to some of us less productive students here....Thanks for the daily info Kryp and Ask2....

ditto that guys - Thanks

[kingdisco]

good morning gang another beautiful morning.

[ukarlewitz]

May 6, 2010 8:14:38 GMT -5 flydick said:

May 6, 2010 8:00:22 GMT -5 lookingherethere said:

Unemployment claims improved for a third straight week but far from dramatically. Initial claims for the May 1 week fell 7,000 to 444,000, pulling the four-week average down 4,750 to 458,500. The prior week was revised 3,000 higher to 451,000. Continuing claims for the April 24 week fell 59,000 to 4.594 million, though the four-week average for this reading rose slightly to 4.649 million. The unemployment rate for insured workers is unchanged at 3.6 percent.

Improved??? Not os sure....Unfortunately, the Fed has hired about 500-700 of the 1.1M census workers OFF OF THE UNEMPLOYMENT lines yet we are only showing 7000 in growth?

And worse, not a word from our pals at CNBC about this fact. All is not necessarily what it appears.

You're singing to the choir on this thread. We're anti kool aid.

[ask2lern]

There may be some play in and out of NBG today..................GL

[deadmoney95]

Recall Rosenbloom said we could see a bearish breakout if we go below 1160 (futures at 1156 now) with our key levels being 10700 on the Dow and 1150 as everyone is seeing on the S&P.

Query: if everyone's thinking 1150, does that mean we just rip up today or, gulp, more likely plunge straight below it to ??

[ask2lern]

May 6, 2010 8:21:34 GMT -5 ask2lern said:

There may be some play in and out of NBG today..................GL

Todays pivots for NBG......

R3 3.75
midpoint 3.54
R2 3.32
midpoint 3.22
R1 2 3.11
midpoint 3.00

PP 2.89

midpoint 2.79
S1 2.68
midpoint 2.57
S2 2.46
midpoint 2.25
S3 PP 2.03


S1 is the one to watch........bounce country when we get close???..........GLTA

[ask2lern]

May 6, 2010 8:26:14 GMT -5 deadmoney95 said:

Recall Rosenbloom said we could see a bearish breakout if we go below 1160 (futures at 1156 now) with our key levels being 10700 on the Dow and 1150 as everyone is seeing on the S&P.

Query: if everyone's thinking 1150, does that mean we just rip up today or, gulp, more likely plunge straight below it to ??

I do not want to be an uber bear but I think if we fail at 1150 we could see 1080......IMO....GLTA

[flydick]

May 6, 2010 8:21:34 GMT -5 ask2lern said:

There may be some play in and out of NBG today..................GL

Not sure if this interests you ask2 but here's real time NBG in Greece...
I watched it religiously when I was playing NBG.

www.moneynet.com.cy/companies_ase.aspx?symbol=ete

[ukarlewitz]

Mvis - once it breaks $3, ugly. Now what? I saw some grim numbers being bandied about yesterday.

[ask2lern]

Opened SPY PUT 117's @ 2.37.......GLTA

[abdogman]

xlf moving up ......now 15.94 pushing thru PP on 1m but having a hard time holding

[ask2lern]

Added @ 2.38..................................GLTA

[ukarlewitz]

I think if we break 1150 decisively and go to the 200dma, 1150 will be very hard/impossible to cross above again this cycle. 1150 and 950 are very hard lines in the sand imo.