STOCK MARKET WATCH, FRIDAY SEPT 26....(#1)

[ozymandius]

Friday September 26, 2003

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 486
REICH-WING RUBBERSTAMP-Congress = DAY 312
DAYS SINCE DEMOCRACY DIED (12/12/00) 2 YEARS, 287 DAYS
WHERE'S OSAMA BIN-LADEN? 1 YEAR, 345 DAYS
WHERE'S SADDAM? WHERE ARE THE WMD'S? - DAY 187
DAYS SINCE ENRON COLLAPSE = 671
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 September 25, 2003

Dow... 9,343.96 -81.55 (-0.87%)
Nasdaq... 1,817.24 -26.46 (-1.44%)
S&P 500.... 1,003.27 -6.11 (-0.61%)
10-Yr Bond... 4.10% -0.03 (-0.80%)
Gold future... 385.90 -2.90 (-0.75%)

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

||


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

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

[Pale Blue Dot]

1. Economy grows, workforce shrinks

http://www.philly.com/mld/inquirer/6862710.htm

With many signs that the economy is improving, why aren't employers hiring? Instead, the government says the U.S. labor market shrank by 93,000 jobs last month.

Many employers, like Bill Stockwell, president of Stockwell Rubber Co. Inc., of Northeast Philadelphia, are simply not convinced that better times are here to stay.

Stockwell's manufacturing company, with 42 workers, laid off 10 people in 2001. It is one of the myriad of small manufacturers and other businesses whose combined health will help determine the course of the economy, and the outlook for jobs.

"We've been reading about economic recovery. We're sensing some improvement over the last couple of months. We see a bit of a groundswell," Stockwell said.

"However, we are not intending to be adding to our staff, I'm going to say for four to six months, until we... confirm that is real," he said.

[JNelson6563]

4. Don't you believe it Mr. Stockwell

"We've been reading about economic recovery. We're sensing some improvement over the last couple of months. We see a bit of a groundswell," Stockwell said.

"However, we are not intending to be adding to our staff, I'm going to say for four to six months, until we... confirm that is real," he said.

That's right, what he senses is not what he's being told by the cheerleaders in the media. I think there are a lot of folks out there with enough common sense to not buy the hype and that's why it isn't working. You can't build a recovery on wishful thinking and propaganda but Team Bush doesn't know that. You can tell the sheeple they are happy and doing well all you want, if it is untrue they stop believing you eventually.

Julie

[JNelson6563]

2. Amen to the Toon!

I believe that is exactly how the UN saw it too. Look at how hot on the heels of Chimpy's speech that they decided to pull out lots of UN staff from Iraq. To me this is a clear answer to the belligerent demand for contributions.

Well yesterday turned out rather darker than it looked for most of the day! I was surprised to see how quick things fell at the end. I was unable to get in here and comment/discuss but I caught blurbs throughout the day.

BTW, JUST NOW heard on CNBC that Robert Palmer died of unexpected heart attack. Just an FYI.

My computer is now out of the basement and into the family room so I can catch TV news while on-line. Cool.

Anyhow, futures are a little dark this morn. Could be interesting day. Happy Friday all! :hi:

Julie

[Maeve]

3. Revision Day on Wall Street

Stock futures sag ahead of revised GDP, Michigan consumer sentiment data early Friday
Just before 7:15 a.m. ET, futures signaled a lower start for the major indexes.

The final reading of second-quarter gross domestic product is expected to come out with the same 3.1 percent annual growth rate as the revised figure issued in August, according to a consensus of economists surveyed by Briefing.com. The report is due before the markets open.

Just after the opening bell, the University of Michigan's revised consumer sentiment index for September is due. It's expected to bump up to 88.5 from the 88.2 figure reported two weeks ago
<more>

[Maeve]

8. GDP revised upward

Pace of broadest measure of economic growth accelerated more than expected in 2Q
WASHINGTON (Reuters) - Healthy consumer spending nudged U.S. economic growth ahead at a slightly faster second-quarter pace than previously thought, the Commerce Department said on Friday, setting the stage for a second-half surge in growth.

Gross domestic product, or GDP, grew at a revised 3.3 percent annual rate in the three months from April to June, up from a 3.1 percent rate reported a month ago that Wall Street economists had expected to be unchanged. The second-quarter expansion was more than double the 1.4 percent rates posted in each of the two preceding quarters and was the strongest since a 4 percent rate of advance in the third quarter last year
<more>

See? The past was better than we thought! So, of course, the future will be, too! Right?
:eyes:
I'm waiting for November to cheer. We'll see if there is still cause by then.

[ozymandius]

5. Good morning Maeve, Julie and all. Here's the WrapUp.

WrapUp by Martin Goldberg

"Saturday Morning at Soccer Practice"

Saturday, I saw my dentist at my daughter’s soccer practice. We got to discuss stocks. Last year, we talked mostly about sports. This year probably due to my dentist’s perception of a new bull market, the conversation seems to be running toward the stock market. As a long-term investor, his large cap technology stocks were doing well again. He told me how he thought that there have been some signs that the market was going to go up. I asked him if he thought the market already had gone “up”. He didn’t. Seems his focus was still on the old days of NASDAQ 2,500, and higher. Compared to where it was, the market was still down. In his mind, it would go up soon. “There is an economic recovery coming,” he said.

My dentist’s thoughts are probably the same as many Americans. We hope that there is a true economic recovery. But the public seems blind to the fact that the stock market is already discounting a robust extended economic boom. They are exposed to the popular financial publications and TV shows which have a parade of smiling bullish analysts providing hot tips on this stock and that on the basis of “the economic recovery”. Rarely in these lighthearted TV spots is the word valuation mentioned. The crowd is drinking it up too. You only have to look at the stock charts of E-Trade and Ameritrade stock to see how much of the potion is being distributed and consumed. There seems to be little public perception of the high risk of the current overvalued stock market.

more...

[ozone_man]

33. That long term trend line sums it up pretty well.

Time to start heading down again. Probably for another 3 to 5 years or until evaluations have reached fair value. I will say that this has been one hell of a bear market rally.

[ozymandius]

6. YAY! No cheerleading!

Stocks Seen Lower Amid Earnings Worries

NEW YORK (Reuters) - U.S. stocks are set to open lower on Friday, with many investors striking a cautious note before the start of the corporate earnings season and the release of key economic data.

Traders said that as the end of the third quarter approaches, many money managers were selling stocks to lock in gains from the market's rally over the past six months. So far this year, the blue-chip Dow is up 12 percent, the S&P 500 is up 14 percent and the Nasdaq Composite is up 36 percent.

"There's a lot of people who made a lot of good gains from the March lows, and as we head into the end of the quarter, there are a lot of portfolio managers who want to take their gains and go home," said Tom Schrader, managing director of U.S. equity trading at Legg Mason Wood Walker.

story

[JNelson6563]

7. Are we out of one trick ponies?

Already? Uh-oh! I think we were suppose to make those last until the next sElection!

I knew this was coming, just wasn't sure when.

Julie

[Maeve]

9. Someone is going to get hurt

The bull and bear camps have rarely been so polarized. One of them is going to get pounded
NEW YORK (CNN/Money) - Somebody has the market dreadfully wrong. When they realize it, there will be hell to pay.

There are always camps of bullish and bearish investors pushing their beliefs on which way stocks are headed, but rarely have things been so polarized as they are now.

Both the Nasdaq Stock Market and the New York Stock Exchange released short-interest figures earlier this week. On the Nasdaq, the number of shares sold short through Sept. 15 rose by 2 percent from the period ended Aug. 15. This despite an 8 percent rise in the Nasdaq Composite -- the sort of rally that usually sends short seller racing for cover.

On the NYSE, short interest fell by 1.5 percent. But it is still historically high, coming in at around 1.57 percent of total market capitalization according to Rhodes Analytics.

Bullish commentators regularly suggest that this heavy short interest is a powder keg, and that it means the market is set up for a huge rally to the upside.
<more>

[Maeve]

10. Starting in the red

Dow 9,340.10 -3.86 (-0.04%)
Nasdaq 1,815.05 -2.19 (-0.12%)
S&P 500 1,001.00 -2.27 (-0.23%)
10-Yr Bond 4.079% -0.023

[ozymandius]

12. U.S. Stocks Open Flat on Earnings Caution

NEW YORK (Reuters) - U.S. stocks opened flat on Friday, as a government report showing faster than expected second-quarter economic growth was offset by investors' caution about the upcoming corporate earnings season.

short

[JNelson6563]

11. Consumer Sentiment

87.7 Just came in. 88.5 was expected I think....

Julie

[Maeve]

13. That's a drop--88.2-88.5 was expected. here's another drop

Dow 9,318.42 -25.54 (-0.27%)
Nasdaq 1,811.02 -6.22 (-0.34%)
S&P 500 998.85 -4.41 (-0.44%)
10-Yr Bond 4.068% -0.034

[ozymandius]

14. starting to resemble an abbatoir

DJIA 9,321.64 -22.32 (-0.24%)
NASDAQ 1,812.70 -4.54 (-0.25%)
S&P 500 998.82 -4.45 (-0.44%)

[UpInArms]

15. daily dollar watch

and the BoJ has come to the rescue!

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

Last trade 93.98 Change +0.22 (+0.23%)

[ozymandius]

16. peeking above water

10:22
DJIA 9,348.52 4.56 (0.05%)
NASDAQ 1,817.31 0.07 (0.00%)
S&P 500 1,002.72 -0.55 (-0.05%)

[ozymandius]

18. Have a wonderful day.

Work calls.

[Maeve]

17. Sharp ups and downs today

Bulls and bears do seem to be fighting it out....

Dow 9,335.54 -8.42 (-0.09%)
Nasdaq 1,815.12 -2.12 (-0.12%)
S&P 500 1,002.00 -1.27 (-0.13%)
10-Yr Bond 4.065% -0.037

[JNelson6563]

21. Like a push-me/pull-me

Points to anyone who can tell me the movie the mythical Push-me/Pull-me is from....(I have a feeling I should exclude Maeve...haha)

11:24 and clinging to the flat-line:

Dow 9,337.43 -6.53 (-0.07%)
Nasdaq 1,814.97 -2.27 (-0.12%)
S&P 500 1,001.05 -2.21 (-0.22%)
10-Yr Bond 4.058% -0.044

Will we be left in relative limbo until the end is near? If so will it be another severe beating on the way out? :SHRUG:

Julie

[TrogL]

24. Dr. Doolittle

[Maeve]

25. Actually...

It was a Push-Me Pull-you!

[JNelson6563]

31. haha no surprise

Maeve the seer even gets a bonus for the correction. TrogL racks up points too. I loved that movie as a child. Fascinated with the Pink Snail. Wanted one. :-)

Julie

[radfringe]

35. Fascinated with the Pink Snail

:evilgrin: way cool - then you may have something in common with the whistleass... he see's PINK elephants

[Coventina]

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

Hi everyone,

Actually, today's reading was a stern personal warning to me. However, the second hexagram, STAGNATION does have some things that could certainly apply to our current situation, "Inferior persons and ideas can rise to positions of great influence. The political and social environment can become corrupt indeed, and there is little a person of principle can do to turn the tide of events. Leaders are not in touch with the people whom they lead, and social systems become irrelevant."

*sigh* I'm feeling really discouraged today.
Nothing but hopeless, bleak despair.

:-(

[JNelson6563]

20. No, there is always hope!

Things will get better. All things pass no matter how it may seem. Sometimes all we can do is just get through them in one piece but at least we survive.

Think of difficult times as a pruning. Unlike plants we have the ability to choose to either wither and die from the pruning OR to grow back even better.

It's Friday so there's a bright spot right there! :-) Encouragement to you dear--

Julie

[jamesinca]

22. Good morning all

Looks like another roller coaster ride today..

[Maeve]

23. 12:53 and the market continues to bounce

Of course, when bulls and bears fight, things can get bloody....

Dow 9,337.43 -6.53 (-0.07%)
Nasdaq 1,804.38 -12.86 (-0.71%)
S&P 500 999.96 -3.31 (-0.33%)
10-Yr Bond 4.023% -0.079

[mrsteve]

26. 1:45 - Afternoon, marketeers

Looks like the lemmings have run the markets above the waterline just in the last 30 minutes, even as consumer sentiment for last month was below expectations this morning. Sheesh!

Dow 9,350.42 +6.46 (+0.07%)
Nasdaq 1,810.99 -6.25 (-0.34%)
S&P 500 1,001.44 -1.83 (-0.18%)
10-Yr Bond 4.021% -0.081

[mrsteve]

27. Also - Yahoo Finance tries to make a little sense of it

"1:30PM: The latest buying drive has lifted the indices noticeably higher, catapulting the Dow into positive territory... In the Dow, 13 of its 30 components are in the green, with the leaders to the upside being 3M (MMM 143.48 +1.87), Merck (MRK 50.99 +0.62), and DuPont (DD 40.24 +0.62)... MMM is single-handedly contributing 13 points to the composite following its upgrade to Buy from Neutral at Banc of America based on the company's major growth opportunity in LCD film..."

Yahoo Fi Analysis

[JNelson6563]

28. 2:19 all red again

Dow 9,335.47 -8.49 (-0.09%)
Nasdaq 1,806.81 -10.43 (-0.57%)
S&P 500 999.61 -3.65 (-0.36%)
10-Yr Bond 4.012% -0.090


I think the last hour will finish red, like yesterday.

Julie

[mrsteve]

29. And at 2:50 - almost in the black again

Dow 9,338.28 -5.68 (-0.06%)
Nasdaq 1,807.12 -10.12 (-0.56%)
S&P 500 1,000.31 -2.95 (-0.29%)
10-Yr Bond 4.000% -0.102

Pushmepullyou indeed!

I'd post the Yahoo Finance update but this afternoon's activity have turned it almost incomprehensible.

[JNelson6563]

30. but wait!!

2:53 and all red

Market Summary

Dow 9,330.13 -13.83 (-0.15%)
Nasdaq 1,805.03 -12.21 (-0.67%)
S&P 500 999.39 -3.88 (-0.39%)
10-Yr Bond 4.002% -0.100


Last hour coming up...

Julie

[mrsteve]

32. Damn that was fast -

For a volitile market, this volatility is mad!

[Maeve]

34. This madness is becoming the norm

Dow 9,320.38 -23.58 (-0.25%)
Nasdaq 1,801.31 -15.93 (-0.88%)
S&P 500 998.56 -4.71 (-0.47%)
10-Yr Bond 4.023% -0.079


Oh, and Julie? I had the soundtrack to the movie and I used to know all the songs. The pushmepullyou was the subject of one called "I've Never Seen Anything Like It In My Life."

I've seen the world, I've seen it all,
I could tell you stories that would quite enthrall you....

[JNelson6563]

36. ah yes, I remember it well

Loved some of those songs! The songs for Rogers and Hammerstein's Cinderella were most delightful too!!

Funny what sticks with you, no? :-)

Julie

[Maeve]

37. Another heart-attack tracing of a day

No rhythm, no rhyme, just static.

Dow 9,313.08 -30.88 (-0.33%)
Nasdaq 1,792.10 -25.14 (-1.38%)
S&P 500 996.85 -6.42 (-0.64%)
10-Yr Bond 4.023% -0.079

[JNelson6563]

38. and it came to a bad end....

The day and the week....

Dow 9,313.08 -30.88 (-0.33%)
Nasdaq 1,792.10 -25.14 (-1.38%)
S&P 500 996.85 -6.42 (-0.64%)
10-Yr Bond 4.023% -0.079


I hope all you marketeers have a great weekend--forget the Street for now!! :hi:

Julie