STOCK MARKET WATCH, Tuesday 6 January (#1)

[ozymandius]

Tuesday January 6, 2004

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 384
REICH-WING RUBBERSTAMP-Congress = DAY 000
DAYS SINCE DEMOCRACY DIED (12/12/00) 3 YEARS, 25 DAYS
WHERE'S OSAMA BIN-LADEN? 2 YEARS, 77 DAYS
WHERE ARE SADDAM'S WMD? - DAY 289
DAYS SINCE ENRON COLLAPSE = 773
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 January 5, 2004

Dow... 10,544.07 +134.22 (+1.29%)
Nasdaq... 2,047.36 +40.68 (+2.03%)
S&P 500... 1,122.22 +13.74 (+1.24%)
10-Yr Bond... 4.39% +0.01 (+0.32%)
Gold future... 424.80 +8.70 (+2.09%)

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

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

[dbt]

1. Another "Opposite Sketch*" in the works today?

Are we going to see another big gain in the Dow/NASDAQ while the dollar slips some more and gold continues to firm up? In other words:

:wtf: is going on here?

dbt
*All glories to "You Can't Do That On Television!"

[ozymandius]

3. WTF indeed!

The casino works in mysterious ways. Yet this time around, with a dearth of good news, it smells like we will have the shorts taking profits. Up! Up! And away! Until about 3pm or so.

[ozymandius]

2. SPECIAL EDITION WRAPUP "Believe It!" by Jim Puplava & Eric King

Fundamental Review
by Jim Puplava

An investor would be fortunate enough if he or she were to encounter one or two secular bull markets in their lifetime. Secular bull markets can last a long time and make investors a lot of money. If an investor can get onboard early enough and simply ride the bull, it is one of the few ways that real fortunes can be made.

New bull markets when they begin are seldom recognized. Emerging trends are difficult to discern when they begin because investor attention is still focused on the last trend not recognizing that the rules of the investment game have been altered. Supply and demand fundamentals alter and change investment markets, giving rise to new bull markets and bringing others to a close. The key is to recognize when one trend is coming to a close and another trend has emerged to take its place.

This is one of those times.

Technical Review
by Eric King

About the only time I can remember having a disagreement with Jim Puplava was right before the gold show in San Francisco at the end of last year. Jim was getting cautious on the mining sector and I (being the contrarian that I am) was trying to explain to Jim that everyone everywhere I looked was bearish and selling their gold and silver stocks. Well, the disagreement became quite heated. Jim pulled into his garage and we ended the conversation and that was that. Later on that evening after dinner, Jim called me and we had a much better conversation. I explained to him that there was too much pessimism out there and as far as I was concerned, we were heading much higher.

A few days later when we talked, Jim said he had received a prominent metals newsletter which was very bearish and Jim began to shift over into the bullish camp. The story doesn't end there however as we agreed to go the gold show in San Francisco. For some reason Jim wanted to arrive a day early to see who was there setting up their booths. I reluctantly agreed as we were driving together and he was my ride (beggars can't be choosers). A funny thing happened when we first started to walk around and see who was setting up booths. I overheard a gentleman in front of us say he had just sold all of his gold. I turned to Jim and he couldn't believe it when I shared this information with him. We then bumped into several other bearish industry people. Jim was quickly getting the concept that folks were just plain bearish into the advance of gold and silver and gold and silver stocks.

http://www.financialsense.com/Market/wrapup.htm

[Frodo]

6. Question re: Fundamental Review by Jim Puplava

I had been under the impression that we were now in the middle stage of a cyclical bull in an overall secular bear market (that is, a year into a two year upward correction in prices in what otherwise would be 6-8 years of downward trend).

Is it his/your opinion that this is the start of annother five or six year runnup in stocks? It can't be a continuation of the dozen or more years we finished in 2000, three straigh substantial drops CAN'T be a cyclical bear, can they?

Can you give a link to the larger artcle? edit Whoops. Found it.

Ignore the post. He's saying it IS a cyclical bull (in stocks). I'm not sure it is possible to have a secular bull in metals, but my original post is irrelevant to the article.

[54anickel]

16. It does seem that Gold has been freed to an open market.

Not sure if it will last, and it seems to have confounded some of the "experts". Found this little tidbit in the middle of this article.

Gold extended last year's 20 percent gain as all precious metals prices surged. At the COMEX division of the New York Mercantile Exchange, February gold rose to $425.70 an ounce, its highest since 1988. By the close, February gold had retraced some of those stellar gains, but the benchmark contract still ended up $8.70, or 2.1 percent, at $424.80 an ounce.
"The dollar is there (as a factor) but at some point, it kind of was on its own," a floor broker said.

http://www.reuters.com/newsArticle.jhtml?type=usGoldRpt&storyID=4076541&pageNumber=1

I could just envision this broker as he/she is making that statement, grabbing the sides of his head with both hands and saying, "I'm soooo confused". :evilgrin:

[ozymandius]

4. Lots of news. Little of it good. Parte the first.

Dollar weakness shows no signs of abating

The dollar extended its losing streak on Tuesday, reach new three-year lows against the yen, lifetime lows against the euro and 11-year lows against the pound as traders struggled to find reasons to buy the US currency.

<cut>
"Compelling reasons to buy the dollar - beyond what look like stretched valuations for many rival currencies - remain thin on the ground," said Steve Pearson and Naeem Wahid, currency analysts at HBOS, in a research note.

Mr Pearson and Mr Wahid said carry trading considerations were also affecting active currency managers' decisions. Some of the pressure on the dollar has come from its use as a funding currency for carry trades, where investors borrow funds in currencies with low interest rates, such as the dollar, and invest the proceeds in higher-yielding currencies, such as sterling or the Australian and Canadian dollars.

story

[ze_dscherman]

5. Hello and some tidbits on the Dollar

Japan signals intention to prevent rise of yen

Japan on Monday signalled its strong intention to prevent a rapid appreciation of the yen in 2004 as traders reported heavy government intervention in the year's first day of foreign currency trading in Tokyo.


Japan has recently replenished its intervention coffers, in a strong sign that it will not allow a rapid rise in the yen to derail its lengthy, but so far fairly shallow, recovery.

Last year, Japan spent a record Y20,000bn ($187bn) on foreign currency intervention, dwarfing the previous recent high of Y7,600bn in 1999.

"I think they're intervening like crazy right now," said the Tokyo head of one foreign bank's currency operations. Intervention operations had continued throughout the holiday period in foreign markets, he said. "I don't think the finance ministry wants to let the yen go above Y105 to the dollar."

More: http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1073280785097&p=1012571727102

Dollar might weaken further against euro

The dollar could weaken further this year following its 17 per cent decline against the euro last year and in spite of expectations of strong US growth, currency strategists said on Sunday.

SNIP

Treasury bond yields are consequently under pressure, potentially weakening foreign appetite for US debt and causing further difficulties for the US in funding the current account deficit, which is already at a record level.

Economists at HSBC believe there will be no rise in US interest rates this year, and forecast that the euro will have risen to $1.35 by mid-year.

"The US is issuing paper promises in the form of Treasuries in return for real goods and services. This is eventually unsustainable and this could be the year when the problem comes fully home to roost," comments David Bloom, currency strategist at the bank.

More: http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1071251894288&p=1012571727102

VERY interesting times, indeed.

[54anickel]

7. Dollar Watch

Good Morning Everyone :hi:

Seems to be lots of speculation on BoJ and the dollar.
In the past, you could spot the BoJ intervention on the dollar chart on INO. If they did intervene, it was barely a blip on the dollar chart. You can see some big straight down dips on the Yen charts though. Perhaps BoJ intervention has lost its "bang for the Yen".

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

Last trade 85.67 Change -0.40 (-0.46%)

Settle 86.07 Settle Time 23:36

Open 86.05 Previous Close 86.07

High 86.11 Low 85.58


A peek at the Yen chart:
http://quotes.ino.com/chart/?s=FOREX_USDJPY&v=s

Last trade 106.29 Change +0.18 (+0.17%)

Open 106.11 Previous Close 106.11

High 106.39 Low 105.98

Bid 106.29 Ask 106.32

http://www.forbes.com/home_europe/newswire/2004/01/06/rtr1199356.html

Comments from U.S. Federal Reserve officials in recent days have added to expectations for low interest rates for some time to come -- a prospect likely to encourage outflows from the dollar to higher-yielding currencies just when the United States needs capital inflows to cover its current account deficit.

"Dollar weakness is visible across the board and there is not a great deal of independent action going on in the markets," said Mitul Kotecha, head of global foreign exchange research at Credit Agricole Indosuez in London.

"The exception is where we see intervention and Japan is now preventing the dollar from falling below 106."

Japan last year spent a record 20 trillion yen in intervention to curb the yen's export-damaging gains against the dollar and on Tuesday Finance Minister Sadakazu Tanigaki and Zembei Mizoguchi, vice finance minister for international affairs, warned Japan would act against sudden or speculative currency moves.

Japan's biggest business lobby, the Japan Business Federation, also said that it was vital for Japanese firms exporting to the United States that the dollar stayed above 105 yen.

[JNelson6563]

8. Good morning Marketeers!

It's a mighty chilly one here in the great north! Lots of snow, about 5 degrees out. Brr!!

I see things are cooling off on the Street as well. Maybe all those folks dancing gleefully about the dollars they made got wind of the news that those dollars continue to drop in value. Ya think?

This should be an interesting day to watch. Most of them are though. Take your positions and brace yourselves. ;-)

Julie

[Maeve]

9. "Profits" vs "sales"

I am highly skeptical on this issue:

Report: December sales up 6%

NEW YORK (CNN/Money) - Robust sales in December helped to close out the 2003 holiday shopping season on a strong note, as redemption of gift cards and gift certificates helped merchants clear merchandise in the period's final week.

ShopperTrak said Monday in its weekly National Retail Sales Estimate (NRSE) that December sales increased 6 percent during the same period a year ago.

While final numbers for the season are not yet in, the report said that the strength of sales last month, combined with a strong November performance, could make the 2003 holiday season the most profitable since 1999.
~~~~~~~~~~~~~~~

If you were in the stores, you know that 50-75% markdowns were not uncommon last week. While I have no question that sales were up, it's the profitability that concerns me.

[54anickel]

10. I hear ya Maeve! Huge discounts, one of the reasons why I love

to give (and receive) gift cards. Get a lot more for the buck! Like giving TWICE the amount.:7

The company I USED to work for always made this mistake. Was a "sales driven" organization, and that's pretty much ALL they looked at. Hey, sales are way up! We're doing great! They kept hiring more and more upper and middle management (with BIG salaries). Then the reality set in. Oops, barely enough $$$ to pay the bills, gotta sell off a couple of divisions.

Amazingly, not ONE member of that elite management team got the axe.
Go figure.

[Frodo]

11. Watch out for those gift cards!

Remember that they go on the books of the retailer as "debt". If they ever go bankrupt (has certainly happened once or twice), your gift card COULD become worthless.

[54anickel]

14. Yes, and many now have quick experation periods as well. Which can

make that wonderful gift card PURE profit for the retailer.
Of course in my family, you never have to worry about that card laying around for more than a week. ;)

[Frodo]

15. We've been thinking of "moving" Christmas.

What if your family just held "Christmas" a week later? Or the first weekend at least a few days after?

You could do all of your chopping at the post-Xmas sales (and probably get a real BARGAIN on a tree!)

[Maeve]

12. "Big picture" folk, obviously

Never a thought for petty details...:eyes: Besides, payroll starts at the top.
Hubby used to have a boss that thought that way. The only reason he's still in business is that there are always newer fools to hire when the current employees wise up.

[Maeve]

13. Y'all have fun today

Errands to run and things to do...will try to catch back up with you later!

[ozymandius]

17. Hi folks. Here's some numbers and they're all red.

10:33


Dow 10,512.22 -31.85 (-0.30%)
Nasdaq 2,044.03 -3.33 (-0.16%)
S&P 500 1,120.06 -2.16 (-0.19%)
10-Yr Bond 4.330% -0.057

[54anickel]

18. Dollar update, and what does this "swap spreads" mean

Bit of an uptick recently:

Last trade 85.70 Change -0.37 (-0.43%)

Settle 86.07 Settle Time 23:36

Open 86.05 Previous Close 86.07

High 86.11 Low 85.37


What is this article about?

http://www.forbes.com/home_europe/newswire/2004/01/05/rtr1198809.html
US SWAPS-New debt sales help even as data spooks
NEW YORK, Jan 5 (Reuters) - U.S. swap spreads shrank on
Monday, thanks in part to the launch of corporate and sovereign
bond sales as market players already glance ahead to
all-important labor data at the end of the week.

During the first full trading session of the new year, more
than $5 billion of new issues were announced or sold, including
$3 billion in five-year notes from the European Investment Bank
and a $2 billion add-on to an existing three-year note from
Italy. In addition, New York Life sold $300 million of
five-year notes.

The hedging of those deals, as well as possible swapping of
some of them, likely helped drive down intermediate swap
spreads, traders said.
more.....


And I certainly do NOT like the title to this article:
Dollar Slide Accelerates; Risks of Rout Increase

http://www.quicken.com/investments/news_center/story/?story=NewsStory/dowJones/20040106/ON200401060922000754.var&column=P0DFP

snip>
If anything, the dollar's slide was accelerating along with the increase in trading volume as investors return to the market after the holiday period. With very little to convince them otherwise, certainly not official rhetoric from U.S. or euro-zone policymakers, they're simply putting on fresh short dollar positions, en masse.

The euro was printing fresh all-time highs and zoning in fast on $1.30, the market's next big psychological target. Meanwhile, sterling was up around two whole cents on the day at new 11-year highs.

The dollar's malaise is widespread, with only official buying -- mainly from Japanese monetary authorities -- and a sprinkling of corporate demand appearing to stand in the way of the current run on the dollar turning into a rout.

Certainly, Japan's position differs from the official line coming out of the U.S. and euro zone, which is one of relative and potentially damaging nonchalance. For example, Federal Reserve Governor Ben Bernanke said Sunday that the risk of a dollar crisis is "quite low," and on a historical measure against a basket of currencies, the dollar isn't actually all that weak.

In this context, it's difficult to see what will, in the very near term, prompt a shift in market opinion and spark a dollar rally. Positive U.S. economic data clearly aren't doing it.

Even the release of a disappointing purchasing managers' index for the euro- zone service industry didn't dent the euro's advance Tuesday. The numbers showed the main index falling to 56.6 last month instead of rising to 58.5 from 57.5 in November as expected.

The stark difference in official rhetoric between Japanese officials on the one hand and U.S. and euro-zone policymakers on the other was highlighted Tuesday by Japanese Finance Minister Sadakazu Tanigaki. He warned that the MOF will "take proper action when the market moves rapidly."

His comments are in stark contrast to Mr. Bernanke's, and appear to be backed up by firm action. Dealers estimate the MOF bought around $5 billion or more Monday to prevent the dollar from falling below 106 yen, and have bought at least another $2.5 billion Tuesday.

more.....


The CT in me is beginning to rise up again. Perhaps there is some truth to the gold bug theories regarding the ECB Washington Agreement. Greenspan and Bernanke are certainly doing their best to drive up the price of gold and the Euro with their rhetoric.

[ozymandius]

22. What's a corporation to do?

The dollar's malaise is widespread, with only official buying -- mainly from Japanese monetary authorities -- and a sprinkling of corporate demand appearing to stand in the way of the current run on the dollar turning into a rout.
<cut>
In this context, it's difficult to see what will, in the very near term, prompt a shift in market opinion and spark a dollar rally. Positive U.S. economic data clearly aren't doing it.

What are you gonna do when your corprate transactions are denominated primarily in dollars?

[54anickel]

36. I still don't quite understand what swap spread means from that first

article though.
I'll keep digging around.

[ozymandius]

19. November U.S. factory orders fall 1.4% - Commerce Dept.

WASHINGTON (CBS.MW) -- Orders at U.S. factories fell in November, the Commerce Department said Tuesday. Factory orders fell 1.4 percent in November -- matching the forecast of economists polled by CBS MarketWatch. In October, orders were revised to up 2.4 percent from an initially estimated gain of 2.2 percent.

just this blurb -details forthcoming

[54anickel]

21. He-he, synchronized posts!

They fell? That's not a good thing, is it?

[ozymandius]

23. U.S. stocks lower after ISM data

NEW YORK (CBS.MW) - U.S. stocks were mixed Tuesday as technology gains took the Nasdaq Composite back into positive territory.

<cut>

Orders at U.S. factories fell in November, the Commerce Department said Tuesday. Factory orders fell 1.4 percent in November -- matching the forecast of economists polled by CBS MarketWatch.

"Factory orders were in line but you're definitely seeing some reaction to the ISM data which was weaker-than-expected," said Keith Keenan, vice-president for institutional trading at Wall Street Access.

"But we have overbought conditions and we're just seeing a little profit taking. The market is taking a breather."

story

[maddogesq]

25. Taking a breather eh? Or, is it taking a break from the Wall St. casino.

Anybody buying into this market is either filthy rich, or looking for a diversion from betting the poinies or college football games.

Sooner or later, the bad job market, dwindling dollar, lower manufacturing and housing sales numbers, federal deficit, and other bad news will catch up with this thing, and it will come a tumblin' down.

[ozymandius]

20. 11:49 and mixed

Dow 10,511.92 -32.15 (-0.30%)
Nasdaq 2,050.11 +2.75 (+0.13%)
S&P 500 1,120.64 -1.57 (-0.14%)
10-Yr Bond 4.300% -0.087

[54anickel]

24. Couple of Gold related articles.

So what's this about? :shrug:

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2003/December/business_December432.xml§ion=business

Swiss-based bank offers two specialist gold funds

DUBAI - Investors in the Middle East are being offered the opportunity to invest in gold through two specialist gold funds manufactured by Swiss-based United European bank (UEB), a private bank which is owned by UNB Paribas.


UEB has been touring the UAE visiting individual and institutional investors outlining the positive opportunities for wealth creation through a managed gold fund at a time of volatile stock and bond markets.

Investment manager, Alan Mudie, said that the message was very clear that gold was shining again as an investment.

He said that while gold had been an asset class often ignored in recent years it now represented a good asset for diversification in a portfolio and offered a hedge in an environment of uncertainty.

And he pointed out that while some people were scared off the metal after the fall in the late 1980s, gold had now been performing well for some time and there were positive fundamentals in terms of supply and demand.

snip>
Now, under Washington's agreement, Central banks are selling about 400 tonnes of gold a year.

But even with this amount coming onto the markets gold has still managed to push through the $400 mark. Mr Mudie added: "Mines have been running down production with investments 70 per cent below 1996 levels and gold as an investment must now be judged against the higher equity risk premium that has existed since the end of the 20 year bear market in 1999."

more.....

Then we have this one

http://www.bday.co.za/bday/content/direct/1,3523,1501550-6078-0,00.html

Gold may break $470 in 2004

Outside the weak US dollar, the key drivers of the gold price are strong investor interest, or what has been termed 'a new generation of gold speculators'; continued worries about the US economy; low global interest rates; and wariness about the performance of equities.

"Gold is likely to trade in a range between $340/oz and $420/oz in 2004. Current gold prices are pricing in a US economy that is going to fold, but signals are that it will recover in 2004, especially in the second half," said Johannesburg-based Investec analyst Leon Esterhuizen.

"Gold is set to move higher first - maybe to $425/oz - before declining to about $380/oz in the second half of 2004. The momentum in the gold market is for the metal to move higher. The outlook for gold is higher, but not too much higher," a London analyst said.

In the second-half of 2004, the US economy is expected to recover and as a result the US dollar gold price is likely to decline.

Investment bank Merrill Lynch sees a lot of support for a higher gold price, with market sentiment and a weak US dollar suggesting that the bullion price could reach $450/oz.

For 2004, Merrill Lynch sees an average gold price of $388/oz, $365/oz in 2005 and $350/oz long-term.

After a major period of dehedging - the buying back by gold producers of their hedge books - 2004 is expected to see little dehedging.

snip>
"If the gold price starts to fall, you may see some of the producers return to hedging so as to lock in the current good prices," a London analyst said.

The expected turn in the interest rate cycle, which has seen Australia and the UK being the first industrialised countries to raise interest rates, is also likely to have a depressing effect on the gold price during 2004.

The renewal of the Washington Agreement on Gold, with expected higher levels of central bank gold sales from September 2004, is a possible bearish factor that could move gold off its current bullish path.

The Washington Agreement was announced in September 1999 and runs for five years to September 2004.

The pact was formed by 15 European central banks (11 eurozone countries, the European Central Bank, Sweden, Switzerland and the UK) which agreed to limit their collective gold sales to 2,000 tons over the five years or 400 tons a year.

"The Washington Agreement could be the spanner in the works," a London analyst said.

Once the gold price starts to show downward momentum, the near record speculative long positions held in gold could be partly liquidated resulting in a potential very sharp decline in the gold price.

more......

[KoKo]

27. Yes....."The Washington Agreement." I've not read any mention of this

in all the Gold Bug articles about how we should all be investing heavily in gold because of the huge US Debt and falling dollar. I probably missed something, but the "W.Agreement" would seem to put a damper on the availablity of gold to be used in place of "paper money." If there's an agreement that only certain amounts of Gold will be released then it's being "manipulated."

It's all very confusing. Gold Bugs say "Buy, Buy, Buy" and others say, "don't bother, because it's all controlled by Hedge Funds and the Central Bank or IMF, or whatever.

One wonders what the truth of it all is.

[54anickel]

29. It is confusing, isn't it. I get suspicious when there is lack of info

on things. I do believe that there was price manipulation, the GATA lawsuits made that pretty clear.
But there has been no information since the lawsuit was allowed to move into the discovery phase - I find that odd.

With the W Agreement, it's well known it comes up for renewal this September, but there are conflicting reports as to if it will be renewed. The reports that state is has been also say there were changes that are not yet available, or that one change is an increase in the amount of gold they will be allowed to sell.

Interesting articles from the goldbug side, if you've not seen them yet:

http://www.authenticmoney.com/articles.htm

[KoKo]

37. Thanks, I'll check those articles out. Since I have a niggling worry

that Gold is the new hype like "Internet Stocks" or "Biotech Stocks, or the "Nifty Fifty," I want to do more research. The "Gold Bugs" make such a convincing argument, it's hard to argue. But, still, I see hype.
Just want to make sure there's something there I can get a handle on.
:-)'s

[54anickel]

39. You might want to go back to this previous thread

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=275343#275870

And this article
http://www.minesite.com/archives/features_archive/2002/Aug-2002/dinar210802.htm


Yes, I tend to think the talk of gold stocks and funds are a hype.
But I don't believe gold should be looked at as an investment.

You may want to own some if you have the descretionary income to afford it to help you sleep a bit better in this interesting times.

Personally, I look at gold as a purchase that "should" maintain, or increase in value, sort of like anything folks collect that are called "limited editions" Hummels, plates, coins, custom jewelry, beanie babies, etc. I would buy what I find pleasing, (I like the Chinese Pandas myself) meaning to hold it forever and pass on to the family members. In the meantime I can be pretty well assured that there will be a decent market for it should I personally fall on bad times.

With gold, your are pretty well assured that there will be a decent market for it should our "country" fall on bad times.

I would not buy gold with the intention of getting rich quick, think there is a lot of risk there. Of course, I'm from the old school that says you work for what you have, so I don't do any risky investing. I just like to watch.

Don't know if this helps or not.

[KoKo]

40. Yes, thanks, it does help....and I had read "Article 2 about Dinar," but

had missed the other one.

[ozymandius]

26. 12:08 numbers and I'm outta here for awhile.

Dow 10,505.99 -38.08 (-0.36%)
Nasdaq 2,048.82 +1.46 (+0.07%)
S&P 500 1,120.14 -2.08 (-0.19%)
10-Yr Bond 4.296% -0.091



You folks have a great day! I'll return to keep track of numbers, if possible.

Ozymandius

[Maeve]

28. 1:51 up and down date

Dow 10,511.48 -32.59 (-0.31%)
Nasdaq 2,053.00 +5.64 (+0.28%)
S&P 500 1,120.68 -1.54 (-0.14%)
10-Yr Bond 4.264% -0.123

[mrsteve]

30. 2:45 - not a lot of change in the last hour

Approaching the final hour, it looks like the Dow is sideways under water after a bit of profit taking this morning, while the Nasdaq has been creeping higher through the day.

The big story is the 10 year note, who's rate drop today indicates a lot of money moving into treasures.

Dow 10,524.66 -19.41 (-0.18%)
Nasdaq 2,054.43 +7.07 (+0.35%)
S&P 500 1,121.67 -0.54 (-0.05%)
10-Yr Bond 4.283% -0.104

[54anickel]

31. GOOD GRIEF!!! Have you caught this article over in LBN?

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=300794

Accounting Problems Found in Major US Economic Indices

snip>
Finally, in the most recent table which rates relative cost importance, health insurance is placed below others categories such as “recreational reading materials”, “Pets”, and “Toys.”(1)

These findings are significant because they represent areas where consumers and businesses face real, ever-increasing costs, in contrast to reports recently from the administration claiming a healthy economy and low inflation. Retirees, for example, may have received smaller payments due to these errors, and banks may have made loans where otherwise they should have not.

[mrsteve]

32. Yes, it makes a lot of sense

You've got to wonder with with the drop in the dollar relative to the rest of the world, coupled with the huge trade deficit, just how was there so little inflation being reported?

Well, if economic numbers were not adjusted correctly (or adjusted incorrectly), the economic forecasts and past reports can cover a lot of sins.

Of course, the economists hired by the * administration are not generally stupid - just blinded by dogma. They had to know some of these measures were wrong, but could be just pulling some economic LIHOP because it makes them look better.

[54anickel]

34. I've ranted about the CPI in the past and that basket of goodies

they measure, leaving out the necessities of life (food, shelter, heat) but this just blows my mind.
I mean, books, pets and toys ABOVE health insurance?
Sheesh :mad:

[KoKo]

38. Health insurance is definitely not being counted. We just got a $22,000

a year quote from Blue Cross! We are going off Cobra (downsizing). We are both healthy. Can you imagine?

I hate to say it but I'm not surprised. I think everyone has been cooking the books the whole world is cooking the books.

I suppose steering one's way through the "lies" and "obfuscations" is the only way to go. Trust one's instincts. All we have left, and if one has the time, just read, read, read trying to keep up on it all. :eyes: One of the best things about DU....The Information Resource. People Keeping Each Other Informed! Why rely on the "so-called experts." They probably know less than we do at this point! (probably an "overstatement"....but putting all this info under one umbrella as we do on DU does give us an advantage).

[mrsteve]

33. 3:25 - more of the same

The Nasdaq is solidifying it's gains, the Dow is still sideways under water, and the 10 year yield keeps dropping as more money is apparently flowing into bonds.

Dow 10,531.47 -12.60 (-0.12%)
Nasdaq 2,058.30 +10.94 (+0.53%)
S&P 500 1,122.80 +0.59 (+0.05%)
10-Yr Bond 4.277% -0.110

[JNelson6563]

35. Howdy again Marketeers!

Whew! Looks like I've missed a...well a boring day.

3:50 and besides a nice rally in Treasuries, pretty ho hum.

Dow 10,543.77 -0.30 (0.00%)
Nasdaq 2,059.85 +12.49 (+0.61%)
S&P 500 1,124.00 +1.79 (+0.16%)
10-Yr Bond 4.277% -0.110

It was great to read through and catch up. You guys rock.

Julie