WallStreetSurvivor

One Million Americans Face Loss Of Jobless Benefits In January

nanakeser — Thu, 19 Nov 2009 16:42:10 GMT

The National Employment Law Project says that the public’s perception of what will happen to insurance benefits for the unemployed early next year is flawed. Most press reports on Congressional action on the matter say that one million people have had their benefits extended well into 2010. That apparently is not so. The NELP released a new analysis which finds that one million workers will become ineligible for unemployment benefits in January 2010 unless Congress reauthorizes the American Recovery and Reinvestment Act’s unemployment insurance programs by the end of December. The organization writes “The critical benefits provided to jobless workers by the ARRA are set to expire at the end of the year, which means that even with the latest 14 to 20 week extension enacted in November, 30,000 workers a day will be left without any jobless benefits in January. By March, the number without federal jobless benefits will swell to nearly three million workers.” It has been widely assumed that the benefits for many of the unemployed had already been extended by as much as several months. The New York Times points out the problem with that reasoning: “The added federal benefits were built on a series of previous extensions that are slated to end on Dec. 31, unless Congress renews these programs.” The NELP analysis is devastating because it means that the “social safety net” for millions of people could disappear in the early part of 2010. That will almost certainly lead to a number of troubling consequences which will include a rise in mortgage delinquencies, adults who cannot regularly put food on the table, and an increase in ranks of the homeless who will need to rely on shelters or friend and relatives for a place to live and sleep. It also means that the tiny amount of money these people might have spent, a very modest addition to nationwide consumer activity, will go away. The Obama Administration plans to have a jobs summit on December 3rd. The purpose of this is to draw together political and private sector leaders to discuss means for stopping the rise in joblessness which has taken national unemployment to 10.2% and which will likely stay above 10% for most if not all of next year. The trouble is that the jobs summit comes a bit late. Any program that goes into effect will not clear Congress until early next year and the effects will almost certainly not be felt until the end of the first quarter. By that point, the economy could be in another rut caused in large part by a drop in consumer spending based on unemployment and the fear of many workers that they will join the jobless ranks soon. There does not appear to be any solution to improving the employment situation without a second stimulus package, whether it is called that or not. Consumer spending, a rise in exports, and the $787 billion already being pumped into the economy have been inadequate. That does not leave many options beyond federal programs aimed very directly at putting people back to work.

Douglas A. McIntyre

Bear Market

MTnews — Fri, 20 Nov 2009 21:42:02 GMT

Daily Market Commentary for November 20, 2009

Bear Market

Stocks opened lower today extending the two-day bear market; investors focused their attention towards the technology sector, they showed concern when Dell, the third largest PC maker reported disappointing earnings. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember2009.aspx

Economic data released today: N/A

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) shed 10.65 points, EOD 10,321.79
NYSE (New York Stock Exchange) shed 33.17, EOD 7,084.47
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 10.22 points, EOD 2,146.60
S&P 500 (SPX) shed 3.3 points, EOD 1,091.60
BEL 20 (BEL20) shed 2.15 points, EOD 2,483.46
CAC 40 (CAC40) shed 30.86 points, EOD 3,729.36
FTSE100 (UKX100) shed 16.29 points, EOD 5,251.41
NIKKEI 225 (NIK/O) gain 15.0213points, EOD 9,497.68

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,275 declined stock prices 1,797, unchanged stock prices 97, stock prices hitting new highs 54 and stock prices hitting new lows 8. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: FAS shed 1.20, HOD 76.00, LOD 74.14, EOD 74.96; SJM gain 2.93, HOD 56.86, LOD 55.13, EOD 56.41; NE shed 1.70, HOD 41.43, LOD 38.62, EOD 40.00; EDC shed 0.54, HOD 128.45, LOD 123.65, EOD 126.51; CME gain 1.02, HOD 325.45, LOD 316.85, EOD 322.99; POT gain 1.54, HOD 115.43, LOD 110.43, EOD 114.71; AFL gain 0.26, HOD 44.94, LOD 43.97, EOD 44.10.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,248, declined stock prices 1,458, unchanged stock prices 140, stock prices hitting new highs 47 and stock prices hitting new lows 31. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: FSLR gain 0.05, HOD 121.79, LOD 118.90, EOD 121.18; ISRG shed 2.24, HOD 281.68, LOD 273.15, EOD 276.44; BIDU shed 0.42, HOD 427.79, LOD 421.77, EOD 427.59; AMZN gain 0.67, HOD 129.99, LOD 127.41, EOD 129.66; INTU shed 0.61, HOD 30.00, LOD 29.27, EOD 29.66; ARUN shed 0.64, HOD 9.39, LOD 8.62, EOD 8.94.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 238, declined stock prices 295, unchanged stock prices 40, stock prices hitting new highs 11 and stock prices hitting new lows 6.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1090.50; Change -3.75
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,765.25; Change -5.00
E-mini DOW $5 (YM) Dec 09: EOD 10,308; Change -19
E-mini S&P MidCap 400 (MF) Dec 09: EOD 686.50; Change -5.60
Nikkei 225 (Yen) Dec 09: EOD 9,480; Change 30

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6729 U.S. Dollars 1.4860
Japanese Yen 89.0000 to U.S. Dollars 0.0112
British Pound 0.6058 to U.S. Dollars 1.6506
Canadian Dollar 1.0699 to U.S. Dollars 0.9347
Swiss Franc 1.0173 to U.S. Dollars 0.9830

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) shed $0.74, EOD $76.72 per barrel ($US per barrel)
Heating Oil (December 09) shed $0.02, EOD $2.01 a gallon ($US per gallon)
Natural Gas (December 09) gain $0.04, EOD $4.76 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) gain $0.01, EOD $1.98 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) gain $6.60, EOD $1,148.50 ($US per Troy ounce)
Silver (December 09) shed $0.01, EOD $18.45 ($US per Troy ounce)
Platinum (January 09) shed $2.00, EOD $1,441.90 ($US per Troy ounce)
Copper (December 09) gain $0.03, EOD $3.13 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) gain $1.10, EOD $64.38
Pork Bellies (February 10) gain $0.05, EOD $87.13
Live Cattle (December 09) gain $0.05, EOD $85.43
Feeder Cattle (January 10) gain $0.85, EOD $92.68

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) shed $3.75, EOD $407.00
Soybeans (January 10) gain $7.00, EOD $1,046.00

BOND MARKET:
2 year EOD 100 17/32, change -1/32, Yield 0.72, Yield change 0.02
5 year EOD 100 30/32, change -3/32, Yield 2.16, Yield change 0.02
10 year EOD 100 4/32, change -5/32, Yield 3.36, Yield change 0.02
30 year EOD 101 15/32, change -4/32, Yield 4.28, change 0.01

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly Market News for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading service. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com http://www.millennium-traders.com/index.aspx

Bull market or bubble? History suggests brace for the 'pop'

nanakeser — Fri, 20 Nov 2009 18:13:56 GMT

Investors, analysts and strategists forever debate whether the equity markets are properly valued. That's the whole point of investing, after all, to figure out whether an asset is cheap, and thus poised to go higher, or too expensive, and so set for a fall. There's a bull and a bear case for pretty much any security, but this magical mystery rally has put the debate in especially sharp relief these days. As DailyFinance has noted, stocks look topped out on a technical basis and overpriced to dot-com bubble heights, but also perhaps reasonably valued or even, yes, cheap if you look at price relative to sales.

Mark Twain famously said that history doesn't repeat itself, but it does rhyme. (If it didn't, technical analysis wouldn't work at all.) It also makes comparing today's bull market to that of 1982 an ear-splitting and scary exercise. As the second nastiest recession since World War II -- and the last time we had 10.2% unemployment -- one might think comparing 1982 to 2009 would offer insights into share prices. Barry Ritholtz certainly thinks so. The CEO and director of research at FusionIQ put together such a comparison Thursday, setting the 1982 rally against today's, and it ain't pretty.

In 1982, for example, stocks were bargain-basement cheap, going for just eight times earnings. Today? They're fetch a whopping premium of 26 times earnings. The dividend yield on the S&P 500 stood at a generous 6% back in the day, whereas today it's below 2%. Stocks were also a bargain when looking at book value nearly three decades ago. Today they look distressingly expensive.

Fiscal policy, deficits, global trade barriers, regulation, the U.S. dollar, household borrowing, taxes...the differences between then and now make 2009's market melt-up almost a Bizarro World version of the Reagan rally. The remarkable contrasts make it almost inconceivable that investors would pay more than three-times as much for stocks today as they did back then.

A big part of this phenomenon is attributable to the fact that this is a rally predicated on hopes and dreams, says Sam Stovall, chief investment strategist at Standard & Poor's. The market is betting on economic and corporate profit improvement six to nine months from now, he says. In other words, it's a faith-based rally, not a fundamental one. "In a rally like this investors act more like Billy Graham than Benjamin Graham," Stovall says.

True, the massive emergence of developing markets, notably the so-called BRIC countries of Brazil, Russia, India and especially China, have structurally changed the global economy since 1982. The Beast of the East, with its red-hot growth, stimulus spending and 1.3 billion potential consumers didn't exist back then, but that doesn't mean the market is pricing the China Syndrome correctly. Intuitively, it's almost too pretty a story: "This time it's different because of China."

Phil Maymin, professor of finance and risk engineering at the Polytechnic Institute of New York University, doesn't buy that line for a second. "Wasn't it the early 80s when we were all enamored of Japan, the Rising Sun, the Eastern miracle? And the 90s was Taiwan and Thailand and Indonesia," Maymin says. "So now it's China. Bubbles, bubbles everywhere."

Yes, China's already a much bigger deal on a fundamental and economic basis than Japan or the Asian Tiger's ever could have hoped to be, but we wonder if investors aren't overpricing the would-be effects of the Middle Kingdom, if that is indeed the case.

We're going to have to go with Maymin -- not to mention Gluskin Sheff's David Rosenberg, star bank analyst Meredith Whitney and Nouriel "Dr. Doom" Roubini -- on this one. Like the fizzy lifting drink scene in Willy Wonka and the Chocolate Factory, we see bubbles, bubbles everywhere -- and fear they are propelling us right into the spinning blades of a fan.

Deaths not linked to H1N1 vaccine: WHO

Seti03 — Fri, 20 Nov 2009 17:17:40 GMT

GENEVA (Reuters) - The World Health Organization said on Thursday the H1N1 vaccine had been cleared of blame for 41 deaths which health authorities worldwide had investigated after suspicions they might have been caused by the inoculation.

The U.N. agency reaffirmed that the pandemic vaccine is as safe as the seasonal flu vaccine used for more than 60 years. It also voiced concern that some pregnant women and others at risk were shunning it because of a fear of side-effects.

"No new safety issue has been identified from reports issued to date ... Reporting so far reconfirms that the pandemic flu vaccine is as safe as the seasonal flu vaccine," Marie-Paule Kieny, WHO's top vaccine expert, told a telephone conference.

Governments have so far reported that 65 million vaccine doses have been administered against H1N1, known as swine flu, in 16 countries, but the true figure is probably higher since immunization campaigns are under way in 40 countries, she said.

Side-effects commonly reported include swelling and redness or pain at the injection site, although some had fever or headache, and all symptoms usually disappear after 48 hours.

A "small number of deaths" had been reported, she said, and a WHO spokeswoman later put the figure at 41 in six countries.

"Although some investigations are still ongoing, the results of the completed investigations reported to WHO have ruled out that the pandemic vaccine is the cause of death," Kieny said.

Authorities in China -- where 11 million people have been vaccinated -- have reported 2 deaths following inoculation and 15 cases of severe side effects, the WHO said in a statement.

"Thorough investigation of these deaths, including a review of autopsy results, determined that underlying medical conditions were the cause of death and not the vaccine," it said of China.

Fewer than a dozen suspected cases of Guillain-Barre syndrome had been reported following pandemic vaccination, she said. "Only a few of this Guillain-Barre may be linked to the pandemic vaccine .... and patients have recovered," she added.

"NO SIGNIFICANT DIFFERENCE"

GlaxoSmithKline Plc, AstraZeneca Plc, Novartis and Sanofi-Aventis are among about 25 manufacturers producing H1N1 vaccine using different techniques.

"No significant difference in the safety profile between different types of vaccine has been detected," Kieny said.

She denounced conspiracy theories about vaccines circulating on the Internet, saying they were causing "artificial worries."

"We have to reiterate that the vaccines are safe, that the disease in certain people can be severe and can be cause of death," she said

By Stephanie Nebehay

Housing Starts Data

MTnews — Wed, 18 Nov 2009 21:56:42 GMT

Daily Market Commentary for November 18, 2009

Housing Starts Data

Commerce Department released this month’s housing starts data today, stocks fell when the report was released. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember1809.aspx

Economic data released today:

MBA Mortgage Applications:
U.S. MBA Refinance Index fell 1.4% at 2955.4; Last Week 2998.2; U.S. MBA Purchase Index fell 4.7% at 210.6; Last Week 220.9; U.S. MBA Market Index fell 2.5% at 611.7; Last Week 627.5.

Building Permits:
Building Permits fell 4.0% to 552,000 Rate in October.

Housing Starts:
U.S. October Housing Starts fell 10.6% to 529,000 ; compared to consensus of an increase by 1.7%; Sharp drop carries U.S. housing starts to lowest in six months; Single-Family Starts, Apartment Construction both fall in October; September Housing Starts Revised to rise 1.9% from an increase by 0.5%.

CPI [Consumer Price Index]:
U.S. October CPI Unrounded rose 0.275%; Core rose 0.182%; U.S. October CPI Energy Prices rose 1.5%; Food Prices rose 0.1%; U.S. October Consumer Prices rose 0.3%; compared to consensus of an increase by 0.2%; U.S. October CPI Ex-Food & Energy rose 0.2%; compared to consensus of an increase by 0.1%; U.S. Real Average Weekly Earnings fell 0.1% in October.

Crude Oil Inventories from Department of Energy:
U.S. Crude Oil Stockpiles -0.887 Million Barrels at 336.789 Million Barrels; U.S. Crude Oil Stockpiles -0.887 Million Barrels in Week; Was Seen decreasing by 0.6 Million Barrels; U.S. Gasoline Stockpiles -1.755 Million Barrels at 209.082 Million Barrels; U.S. Gasoline Stockpiles -1.755 Million Barrels in Week; Was Seen increasing by 0.1 Million Barrels; U.S. Distillate Stockpiles -0.328 Million Barrels at 167.397 Million Barrels; U.S. Distillate Stockpiles -0.328 Million Barrels in Week; Was Seen decreasing by 0.5 Million Barrels; U.S. Refineries Ran at 79.44% capacity versus 79.93% Week Ago; U.S. Refineries Ran at 79.44% capacity; Was Seen at 79.80%.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) shed 13.61 points, EOD 10,423.81
NYSE (New York Stock Exchange) shed 7.35, EOD 7,226.71
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 10.9 points, EOD 2,192.88
S&P 500 (SPX) shed 0.74 points, EOD 1,109.58
BEL 20 (BEL20) shed 9.08 points, EOD 2,525.44
CAC 40 (CAC40) shed 26.58 points, EOD 3,828.16
FTSE100 (UKX100) shed 3.8 points, EOD 5,342.13
NIKKEI 225 (NIK/O) shed 53.13 points, EOD 9,676.80

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,422 declined stock prices 1,668, unchanged stock prices 98, stock prices hitting new highs 176 and stock prices hitting new lows 3. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: TGT shed 0.73, HOD 48.26, LOD 47.72, EOD 47.87; FAS gain 1.58, HOD 80.84, LOD 78.50, EOD 80.54; CRM shed 2.00, HOD 64.49, LOD 61.78, EOD 63.61; ICE gain 0.13, HOD 109.75, LOD 108.50, EOD 109.40; NUE shed 0.31, HOD 42.88, LOD 41.37, EOD 41.92; POT gain 3.19, HOD 115.52, LOD 112.15, EOD 113.79; MA shed 3.72, HOD 231.93, LOD 225.91, EOD 227.28; MON gain 2.65, HOD 80.33, LOD 78.15, EOD 79.98.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,077, declined stock prices 1,649, unchanged stock prices 135, stock prices hitting new highs 86 and stock prices hitting new lows 19. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: VVUS gain 0.20, HOD 9.60, LOD 8.56, EOD 8.77; FSLR gain 0.68, HOD 127.99, LOD 123.10, EOD 124.67; ADSK shed 2.80, HOD 25.30, LOD 23.86, EOD 24.20; CNQR shed 3.84, HOD 37.55, LOD 36.12, EOD 37.24; BIDU shed 6.38, HOD 440.99, LOD 431.18, EOD 435.12; ISRG shed 1.95, HOD 283.00, LOD 276.37, EOD 279.63; CERN shed 2.66, HOD 79.93, LOD 77.34, EOD 77.40; NLST gain 0.73, HOD 5.39, LOD 4.22, EOD 4.83; VPRT shed 3.63, HOD 54.32, LOD 49.52, EOD 50.83; PCLN gain 0.39, HOD 210.40, LOD 207.00, EOD 209.68; DRYS gain 0.08, HOD 7.30, LOD 6.78, EOD 7.13.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 276, declined stock prices 244, unchanged stock prices 49, stock prices hitting new highs 19 and stock prices hitting new lows 5.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1107.00; Change -0.50
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,799.75; Change -9.00
E-mini DOW $5 (YM) Dec 09: EOD 10,393; Change -5
E-mini S&P MidCap 400 (MF) Dec 09: EOD 705.20; Change -2.00
Nikkei 225 (Yen) Dec 09: EOD 9,665; Change -95

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6685 U.S. Dollars 1.4959
Japanese Yen 89.3700 to U.S. Dollars 0.0112
British Pound 0.5973 to U.S. Dollars 1.6743
Canadian Dollar 1.0547 to U.S. Dollars 0.9481
Swiss Franc 1.0099 to U.S. Dollars 0.9920

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) gain $0.44, EOD $79.58 per barrel ($US per barrel)
Heating Oil (December 09) shed $0.01, EOD $2.09 a gallon ($US per gallon)
Natural Gas (December 09) shed $0.25, EOD $4.66 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) gain $0.01, EOD $2.01 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) gain $1.90, EOD $1,141.30 ($US per Troy ounce)
Silver (December 09) gain $0.03, EOD $18.42 ($US per Troy ounce)
Platinum (January 09) shed $10.50, EOD $1,452.00 ($US per Troy ounce)
Copper (December 09) gain $0.01, EOD $3.15 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) gain $0.25, EOD $64.23
Pork Bellies (February 10) gain $0.05, EOD $88.65
Live Cattle (December 09) shed $0.68, EOD $84.98
Feeder Cattle (January 10) shed $1.05, EOD $91.73

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) shed $3.75, EOD $413.75
Soybeans (January 10) shed $2.50, EOD $1,027.00

BOND MARKET:
2 year EOD 100 15/32, change 1/32, Yield 0.74, Yield change -0.01
5 year EOD 100 27/32, change -4/32, Yield 2.19, Yield change 0.03
10 year EOD 100 2/32, change -11/32, Yield 3.36, Yield change 0.04
30 year EOD 101 9/32, change -27/32, Yield 4.29, change 0.05

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly Market News for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading service. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com http://www.millennium-traders.com/index.aspx

FAA

MTnews — Thu, 19 Nov 2009 21:44:15 GMT

Daily Market Commentary for November 19, 2009

FAA

Airline stocks were falling today due to current delays caused by malfunctions from the FAA system that collects flight plans. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember1909.aspx

Economic data released today:

Initial Jobless Claims:
U.S. Continuing Claims for week of November 7 fell 39K to 5,611,000; U.S. Jobless Claims Revised for week of November 7 to 505K from 502K; U.S. Jobless Claims Unchanged for week of November 14 505K compared to Survey of an increase by 4K.

Philadelphia Fed Manufacturing Index:
Philadelphia Fed November Business Index 16.7 versus October 11.5; Philadelphia Fed November Business Index Expected 12.0; Philadelphia Fed November Price Paid 14.9 versus October 21.3; Philadelphia Fed November Price Received fell 1.5 versus October decrease by 4.3; Philadelphia Fed November Employment fell 0.5 versus October decrease by 6.8; Philadelphia Fed November New Orders 14.8 versus October 6.2; Philadelphia Fed November Shipments 15.7 versus October 3.3; Philadelphia Fed November Delivery Times fell 12.7 versus October decrease by 9.3; Philadelphia Fed November Inventories fell 17.3 versus October decrease by 31.8.

U.S. Conference Board Leading Index:
October Lagging Index fell 0.2%; October Coincident Index 0.0%; October Leading Index rose 0.3%.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) shed 93.19 points, EOD 10,333.12
NYSE (New York Stock Exchange) shed 109.11, EOD 7,117.60
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 36.25 points, EOD 2,156.89
S&P 500 (SPX) shed 14.76 points, EOD 1,095.04
BEL 20 (BEL20) shed 39.83 points, EOD 2,485.61
CAC 40 (CAC40) shed 67.94 points, EOD 3,760.22
FTSE100 (UKX100) shed 74.43 points, EOD 5,267.70
NIKKEI 225 (NIK/O) shed 70.02 points, EOD 9,549.47

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 588 declined stock prices 2,522, unchanged stock prices 71, stock prices hitting new highs 45 and stock prices hitting new lows 9. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: FAS shed 4.37, HOD 79.16, LOD 75.40, EOD 76.17; RTP shed 6.15, HOD 216.20, LOD 211.00, EOD 213.85; CME shed 2.14, HOD 322.36, LOD 318.37, EOD 321.97; EDC shed 9.19, HOD 153.54, LOD 145.29, EOD 149.01; MA gain 2.81, HOD 235.96, LOD 223.57, EOD 230.09; TSL gain 2.70, HOD 46.80, LOD 41.78, EOD 45.45; PPD shed 7.79, HOD 40.72, LOD 30.68, EOD 33.34; DCI gain 3.27, HOD 45.19, LOD 43.42, EOD 44.73.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 567, declined stock prices 2,146, unchanged stock prices 109, stock prices hitting new highs 33 and stock prices hitting new lows 30. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: NTES shed 3.49, HOD 37.95, LOD 36.06, EOD 37.20; SHLD shed 2.82, HOD 77.70, LOD 72.01, EOD 72.95; SMTC shed 0.77, HOD 16.36, LOD 14.66, EOD 16.21; BIDU shed 7.11, HOD 431.94, LOD 423.18, EOD 428.01; FSLR shed 3.54, HOD 124.00, LOD 120.05, EOD 121.13; AMZN shed 2.30, HOD 130.54, LOD 128.48, EOD 128.99; ISRG shed 0.95, HOD 279.91, LOD 275.69, EOD 278.68; NTES shed 3.49, HOD 37.94, LOD 36.06, EOD 37.20; JACK shed 1.35, HOD 18.82, LOD 17.84, EOD 18.50; HOTT shed 0.87, HOD 5.89, LOD 5.57, EOD 5.80.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 172, declined stock prices 348, unchanged stock prices 47, stock prices hitting new highs 7 and stock prices hitting new lows 4.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1094.75; Change -13.75
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,775.00; Change -25.50
E-mini DOW $5 (YM) Dec 09: EOD 10,326; Change -78
E-mini S&P MidCap 400 (MF) Dec 09: EOD 691.40; Change -12.60
Nikkei 225 (Yen) Dec 09: EOD 9,455; Change -260

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6704 U.S. Dollars 1.4917
Japanese Yen 89.0600 to U.S. Dollars 0.0112
British Pound 0.6003 to U.S. Dollars 1.6658
Canadian Dollar 1.0631 to U.S. Dollars 0.9406
Swiss Franc 1.0133 to U.S. Dollars 0.9869

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) shed $2.12, EOD $77.46 per barrel ($US per barrel)
Heating Oil (December 09) shed $0.05, EOD $2.03 a gallon ($US per gallon)
Natural Gas (December 09) gain $0.06, EOD $4.72 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) shed $0.04, EOD $1.97 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) gain $1.00, EOD $1,142.20 ($US per Troy ounce)
Silver (December 09) gain $0.05, EOD $18.46 ($US per Troy ounce)
Platinum (January 09) shed $8.10, EOD $1,443.90 ($US per Troy ounce)
Copper (December 09) shed $0.03, EOD $3.11 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) shed $0.95, EOD $63.28
Pork Bellies (February 10) shed $1.58, EOD $87.08
Live Cattle (December 09) gain $0.40, EOD $85.38
Feeder Cattle (January 10) gain $0.10, EOD $91.83

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) shed $3.00, EOD $410.75
Soybeans (January 10) gain $12.00, EOD $1,039.00

BOND MARKET:
2 year EOD 100 17/32, change 2/32, Yield 0.71, Yield change -0.03
5 year EOD 100 31/32, change 5/32, Yield 2.16, Yield change -0.03
10 year EOD 100 7/32, change 6/32, Yield 3.34, Yield change -0.02
30 year EOD 101 15/32, change 9/32, Yield 4.28, change -0.02
Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly Market News for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading service. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com http://www.millennium-traders.com/index.aspx

Scientists blow up 5000 pound bomb

Seti03 — Thu, 19 Nov 2009 03:00:47 GMT

http://www.bing.com/videos/watch/video/scientists-blow-up-5-000-pound-bomb/26ki9zcx great footage.

More than $98 Billion in improper gov't payments

Purplepassion — Wed, 18 Nov 2009 20:53:28 GMT

More than $98 billion in improper gov't payments

By HOPE YEN, Associated Press Writer Hope Yen, Associated Press Writer – Wed Nov 18, 6:51 am ET

WASHINGTON – More than $98 billion in taxpayer dollars spent by government agencies was wasted, much of it on questionable claims for tax credits and Medicare benefits, representing an increase of $26 billion from the previous year.

In all, about 5 percent of spending in federal programs in fiscal year 2009 was improper, according to new details of a government financial report that were released Tuesday. Saying the overall error rate was similar in 2008, officials attributed the $26 billion jump to some changes in how to define improper spending as well as an increase in overall spending due to the recession.

President Barack Obama is expected to sign an executive order within the next week aimed at cracking down on government waste and fraud, particularly in Medicare and other benefit programs. In the 2009 report, the government officially reported questionable Medicare payments of roughly $36 billion, but that amount will be revised upward to about $48 billion next year as the Health and Human Services Department fully converts to a new methodology that imposes stricter documentation requirements.

"We need to protect taxpayer dollars," Peter Orszag, director of the Office of Management and Budget, told reporters. "Every dollar that goes to the wrong recipient or in the wrong amount is a dollar not available to help an unemployed worker, or to invest in education or key priorities of the administration."

Under the executive order, every federal agency would have to maintain a Web site that tracks improper payments, error rates and outstanding payments. If an agency doesn't meet targets for reducing error rates for two years in a row, the agency director and responsible official will have to directly report to OMB to explain the delinquency and new actions they will take.

The Obama administration will also seek to impose penalties on government contractors that receive improper payments so they have incentives to return the money, Orszag said.

Among the reported waste:

_Agriculture: $4.3 billion in improper payments, or 5.9 percent of total department spending. Much of it was in the food stamp, federal crop insurance and school meals programs.

_Defense: $849 million, or 0.5 percent.

_Education: $599 million, or 2.1 percent.

_Health and Human Services: $55.1 billion, or 9.4 percent. That included improper payment rates of 7.8 percent and 15.4 percent in the Medicare fee for service and Advantage programs, respectively.

_Homeland Security: $644.5 million, or 3.7 percent. Much of it was in the Homeland Security grant program as well as Disaster Relief Fund Vendor Payments.

_Housing and Urban Development: $1 billion, or 3.5 percent. All of it was attributed to public housing and rental assistance.

_Labor: $12.3 billion, or 9.9 percent. Almost all of the improper payments were in the unemployment insurance program.

_Treasury: $12.3 billion, or 25.5 percent. All of it was attributed to improper payments in the earned income tax credit.

_Transportation: $1.5 billion, or 3 percent. Much of it was in the Federal Highway Administration planning and construction program.

_Veterans Affairs: $1.2 billion, or 2.7 percent. That included improper payments in the pension and other compensation programs.

_Social Security Administration: $8.0 billion, or 1.2 percent.

Sen. Tom Carper, D-Del., who chairs a Senate panel on federal financial management, said he worried that the latest numbers "may still be just the tip of the iceberg" since they don't include estimates for several programs such as the Medicare prescription drug plan.

"It goes without saying that these results would be completely unacceptable in the private sector, as they should be in government, especially at a time of record deficits," Carper said.

We Are All Hindus Now

Seti03 — Sun, 15 Nov 2009 11:25:22 GMT

America is not a Christian nation. We are, it is true, a nation founded by Christians, and according to a 2008 survey, 76 percent of us continue to identify as Christian (still, that's the lowest percentage in American history). Of course, we are not a Hindu—or Muslim, or Jewish, or Wiccan—nation, either. A million-plus Hindus live in the United States, a fraction of the billion who live on Earth. But recent poll data show that conceptually, at least, we are slowly becoming more like Hindus and less like traditional Christians in the ways we think about God, our selves, each other, and eternity

The Rig Veda, the most ancient Hindu scripture, says this: "Truth is One, but the sages speak of it by many names." A Hindu believes there are many paths to God. Jesus is one way, the Qur'an is another, yoga practice is a third. None is better than any other; all are equal. The most traditional, conservative Christians have not been taught to think like this. They learn in Sunday school that their religion is true, and others are false. Jesus said, "I am the way, the truth, and the life. No one comes to the father except through me."

Americans are no longer buying it. According to a 2008 Pew Forum survey, 65 percent of us believe that "many religions can lead to eternal life"—including 37 percent of white evangelicals, the group most likely to believe that salvation is theirs alone. Also, the number of people who seek spiritual truth outside church is growing. Thirty percent of Americans call themselves "spiritual, not religious," according to a 2009 NEWSWEEK Poll, up from 24 percent in 2005. Stephen Prothero, religion professor at Boston University, has long framed the American propensity for "the divine-deli-cafeteria religion" as "very much in the spirit of Hinduism. You're not picking and choosing from different religions, because they're all the same," he says. "It isn't about orthodoxy. It's about whatever works. If going to yoga works, great—and if going to Catholic mass works, great. And if going to Catholic mass plus the yoga plus the Buddhist retreat works, that's great, too."

Then there's the question of what happens when you die. Christians traditionally believe that bodies and souls are sacred, that together they comprise the "self," and that at the end of time they will be reunited in the Resurrection. You need both, in other words, and you need them forever. Hindus believe no such thing. At death, the body burns on a pyre, while the spirit—where identity resides—escapes. In reincarnation, central to Hinduism, selves come back to earth again and again in different bodies. So here is another way in which Americans are becoming more Hindu: 24 percent of Americans say they believe in reincarnation, according to a 2008 Harris poll. So agnostic are we about the ultimate fates of our bodies that we're burning them—like Hindus—after death. More than a third of Americans now choose cremation, according to the Cremation Association of North America, up from 6 percent in 1975. "I do think the more spiritual role of religion tends to deemphasize some of the more starkly literal interpretations of the Resurrection," agrees Diana Eck, professor of comparative religion at Harvard. So let us all say "om."

By Lisa Miller | NEWSWEEK

Wall Street getting H1N1 vaccines BEFORE hospitals, doctors and critically high risks people!!!

Purplepassion — Fri, 06 Nov 2009 02:14:41 GMT

I just saw on ABC World News that some of the Wall Street's taxpapers' bailed out firms got shipments of H1N1 vaccinces for THEIR high risk employees BEFORE the hospitals, doctors and more critically high risks people!!!! Goldman Sach, Citicorp, JP Morgan and even Federal Reserve Bank got shipments of the vaccine. JP Morgan claimed that it didn't know about the unexpected shipment and had donated it's shipment to a children's hospital. I can't imagine why they were given such an outrageous preferential treatment in the distribution process!!!!

Is anyone else having problem with viewing their profile?

SolidRock — Tue, 17 Nov 2009 22:33:39 GMT

Afer clicking the "Dashboard" and "My Profile", I get an error message. Did something change?

Poll

SolidRock — Sun, 15 Nov 2009 04:55:28 GMT

Here is a poll for everyone to participate in. Which news do you watch and why do you not watch the other two? I will start out first...

"I don't watch FOX or CNN because I get entertained rather than informed. I watch BBC and listen to their live radio broadcast, and Bloomberg when time allows it. Nonetheless, the two are always on in the airports and in private restaurants." [Poll]

Pumped-up prices: $4 per gallon gasoline may be coming in 2010

nanakeser — Thu, 12 Nov 2009 17:13:35 GMT

Has this been a trying decade for the average American, or what? It's bad enough that we've have had to cope with stagnant wages and tax increases at just about every level. But in the months ahead, we may have to deal with yet another nightmare: surging gasoline prices.

Factors are lining up that could end up pushing gas prices back over $4 per gallon sometime next year. If you're already exasperated about prices at the pump, you're not the only one. Gasoline demand in 2009 has been comparatively low -- take 7.6 million Americans out of the workforce through layoffs -- yet gasoline's price has gone up, not down.

It's risen about 20 cents per gallon in the past month to a U.S. average price of $2.65 per gallon for unleaded regular, according to data compiled by gasbuddy.com. This, when we're heading into December and the winter season -- a time when gasoline demand historically has been at its lowest.

Gasoline demand down, but the price is up. What's going on here? Well, part of the reason is the price of oil, currently around $80 per barrel. Oil -- boosted by the weak dollar and by likely increasing global oil demand during the economic recovery -- has essentially doubled since hitting a post-leverage boom low of about $35 per barrel a year ago.

The other part concerns the business of refining and the nation's refinery system. With oil prices high and gasoline demand low, the "crack spread" -- basically the difference between what refiners pay for oil and the total revenue received for products created from a barrel of crude -- has been low. That's prompted many refineries to reduce capacity: if a refiner can't earn a decent profit refining crude into gasoline (and other products), the company stops refining it.

According to U.S. Energy Information Agency data, refinery capacity utilization was at 80.6% for the week ending Oct. 30, compared to 81.8% for the week ending Oct. 23. Even allowing for normal, seasonal maintenance that decreases refining output, capacity utilization, in normal times, would be closer to 90%. That reduced refining activity also has helped boost gasoline's price.

But the real problem with the above concerns the gasoline market's condition when demand ramps up for seasonal (summer driving) and cyclical (at some point, the U.S. economy will start creating jobs) reasons. Assuming oil prices remain at a high level ($70 to $80 per gallon), rising gasoline demand will cause prices at the pump to jump about 40 cents to 50 cents per gallon.

The spike could be larger in high-cost metro areas like New York, Boston, Los Angeles and San Francisco. A $3.25 national average for unleaded regular would occur in short order.

adsonar_placementId=1436303;adsonar_pid=986767;adsonar_ps=-1;adsonar_zw=230;adsonar_zh=260;adsonar_jv='ads.tw.adsonar.com';

And there are more-sobering scenarios. Patrick Kerr, managing director of Amerifutures, a commodity and options broker, told DailyFinance Wednesday that $3.25 per gallon could prove to be a low price in the quarters ahead, if the factors he argues are boosting gasoline prices remain in place.

Kerr said six factors are likely to continue to put upward pressure on gasoline prices in the U.S.: 1) more weakness in the dollar 2) increasing oil demand in China, 3) no readily available vehicle fuel substitute for gasoline in the U.S., 4) geopolitical tension, 5) inelastic gasoline demand in the U.S. (people can reduce gasoline consumption only so much), and 6) a lack of new, more efficient refineries in the U.S.

"A $4-per-gallon price is possible by the end of this year, but I think we'll definitely see $4 per gallon in 2010," Kerr said.

The United States is heavily dependent on gasoline. Although alternate fuels are gaining market share, gasoline will continue to make up the bulk of the U.S. residential transportation budget. That points to the need to increase vehicle efficiency. Absent increased efficiency and conservation (reduced driving), consumers' disposable income will be reduced even more, which will act as a drag on U.S. gross domestic product growth.

Bottom Line: Any national economic policy that assumes -- or counts on -- low gasoline prices long-term is inherently flawed.

Wall Street

MTnews — Tue, 17 Nov 2009 21:52:52 GMT

Daily Market Commentary for November 17, 2009

Wall Street

Wall Street couldn't keep up the rallies from yesterday even after upbeat government reports, investors are watching for earnings released by major retailers to find out the question on everyone's minds... how much consumers are spending. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember1709.aspx

Economic data released today:

PPI [Producer Price Index]:
U.S. October Producer Prices rose 0.3%; compared to consensus of an increase by 0.6%; U.S. October PPI Ex-Food & Energy fell 0.6%; compared to consensus %; U.S. October PPI Intermediate Goods rose 0.3%; Core fell 0.2%; U.S. October PPI Crude Goods rose 5.4%; Core rose 0.5%; U.S. October PPI Energy Prices rose 1.6%; U.S. October Passenger Car Prices fell 0.5%; U.S. September PPI Unrevised at -0.6%.

Redbook:
U.S. Retail Sales First 2 Weeks of November rose 4.4% versus October; U.S. Retail Sales First 2 Weeks of November rose 1.8% versus November Year-Ago; U.S. Retail Sales rose 2.0% week ending November 14 versus Year Ago.

TIC [Treasury International Capital] Net Long-Term Transactions:
Net Foreign LT Securities Purchases $31.7B in September; Net LT Securities Purchases $40.7B in September; Net Foreign Capital Inflow $133.5B in September; Foreigners Net Buyers $44.7B U.S. Treasury Notes, Bonds in September; Foreigners Net Buyers $1.8B of U.S. Agency Debt in September; Foreigners Net Buyers Sellers $2.9B of U.S. Corp Bonds in September; Foreigners Net Buyers $15.7B of U.S. Equities in September.

Industrial Production:
U.S. September Industrial Production Revised to rise 0.6% from an increase by 0.7%; U.S. October Industrial Production rose 0.1%; compared to consensus of an increase by 0.3%.

Capacity Utilization Rate:
U.S. October Capacity Utilization rose 0.2-Point at 70.7%; compared to consensus of 70.7%;
U.S. September Capacity Use Unrevised at 70.5%.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) gain 29.70 points, EOD 10,436.66
NYSE (New York Stock Exchange) shed 3.11, EOD 7,233.99
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 4.97 points, EOD 2,202.82
S&P 500 (SPX) gain 0.77 points, EOD 1,110.07
BEL 20 (BEL20) shed 0.8 points, EOD 2,534.52
CAC 40 (CAC40) shed 8.42 points, EOD 3,854.74
FTSE100 (UKX100) shed 36.74 points, EOD 5,345.93
NIKKEI 225 (NIK/O) shed 95.19 points, EOD 9,729.93

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,356 declined stock prices 1,729, unchanged stock prices 115, stock prices hitting new highs 187 and stock prices hitting new lows 13. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: TGT shed 1.52, HOD 50.59, LOD 47.48, EOD 48.77; FAS gain 0.18, HOD 79.32, LOD 77.32, EOD 78.96; CME gain 3.56, HOD 324.57, LOD 318.18, EOD 322.04; EDC shed 1.42, HOD 162.00, LOD 155.62, EOD 161.81; MOS gain 2.88, HOD 53.13, LOD 49.63, EOD 52.77; AGO gain 4.32, HOD 28.14, LOD 24.65, EOD 25.53; POT gain 6.42, HOD 110.90, LOD 103.11, EOD 110.60.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,255, declined stock prices 1,451, unchanged stock prices 154, stock prices hitting new highs 125 and stock prices hitting new lows 24. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: WYNN shed 1.52, HOD 67.38, LOD 64.66, EOD 66.99; SPWRA shed 5.04, HOD 22.97, LOD 21.67, EOD 22.19; SINA gain 4.12, HOD 47.95, LOD 46.06, EOD 47.03; ZOOM gain 0.26, HOD 11.29, LOD 8.24, EOD 8.24; FSLR gain 0.58, HOD 127.54, LOD 123.44, EOD 123.99; SIVB shed 2.25, HOD 41.68, LOD 40.43, EOD 40.58; PCLN gain 3.15, HOD 209.96, LOD 203.21, EOD 209.29; BIDU gain 3.18, HOD 442.86, LOD 435.65, EOD 441.50; AIXG gain 0.73, HOD 38.04, LOD 34.29, EOD 35.33; AMZN shed 0.34, HOD 131.85, LOD 129.32, EOD 131.45.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 244, declined stock prices 277, unchanged stock prices 58, stock prices hitting new highs 23 and stock prices hitting new lows 3.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1108.75; Change 2.50
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,810.50; Change 7.00
E-mini DOW $5 (YM) Dec 09: EOD 10,408; Change 40
E-mini S&P MidCap 400 (MF) Dec 09: EOD 708.80; Change 1.00
Nikkei 225 (Yen) Dec 09: EOD 9,770; Change -95

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6726 U.S. Dollars 1.4868
Japanese Yen 89.3000 to U.S. Dollars 0.0112
British Pound 0.5948 to U.S. Dollars 1.6812
Canadian Dollar 1.0506 to U.S. Dollars 0.9518
Swiss Franc 1.0163 to U.S. Dollars 0.9840

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) gain $0.24, EOD $79.14 per barrel ($US per barrel)
Heating Oil (December 09) gain $0.02, EOD $2.09 a gallon ($US per gallon)
Natural Gas (December 09) shed $0.08, EOD $4.91 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) gain $0.02, EOD $2.00 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) unchanged, EOD $1,139.20 ($US per Troy ounce)
Silver (December 09) shed $0.03, EOD $18.37 ($US per Troy ounce)
Platinum (January 09) gain $17.90, EOD $1,426.50 ($US per Troy ounce)
Copper (December 09) unchanged, EOD $3.13 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) gain $1.63, EOD $63.98
Pork Bellies (February 10) gain $1.20, EOD $88.60
Live Cattle (December 09) gain $0.53, EOD $85.65
Feeder Cattle (January 10) gain $0.40, EOD $92.78

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) unchanged, EOD $417.50
Soybeans (January 10) gain $19.50, EOD $1,029.50

BOND MARKET:
2 year EOD 100 14/32, change 0, Yield 0.76, Yield change -0.01
5 year EOD 100 30/32, change 2/32, Yield 2.17, Yield change -0.02
10 year EOD 100 14/32, change 4/32, Yield 3.32, Yield change -0.01
30 year EOD 102 2/32, change 13/32, Yield 4.25, change -0.02

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly Market News for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading service. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com http://www.millennium-traders.com/index.aspx

Was 'screw the shareholders' BofA's attitude?

nanakeser — Tue, 17 Nov 2009 16:48:28 GMT

Congress scheduled to kick off new round of hearings into the bank's acquisition of Merrill Lynch today.

window.onerror=function(){clickURL=cleanClickURL(document.location.href);return true;} if(!self.clickURL) clickURL=cleanClickURL(parent.location.href);

try { cnnShareLinks.init('Fortune','rss.cnn.com/rss/magazines_fortune.rss'); // EDIT THIS } catch(e) { }

By William D. Cohan

Last Updated: November 17, 2009: 9:36 AM ET

Would panic prevail? That was the question gripping the world in the days surrounding the fall of Lehman Brothers on Sept. 15, 2008. One year after that terrifying Monday, the people who struggled to cope with the financial crisis share what they were thinking as chaos broke out. The collapse of Lehman led to a deeper recession and a litany of government programs to try to end the pain. We rate just how bold and effective the plans have been so far.

NEW YORK (Fortune) -- Today, Congress may finally be closing in on an answer to one of the great open questions from the Crash of 2008: Why did Bank of America management not tell its shareholders about the mounting fourth-quarter losses at Merrill Lynch a few weeks before shareholders voted to approve BofA's $50 billion acquisition of Merrill on December 5, 2008? Some members of the House Committee on Oversight and Government Reform think they finally have found their smoking gun in a series of previously unseen documents that recount BofA's deliberations on whether to tell shareholders about the Merrill losses. The documents are said to include the advice BofA management received from its law firm, Wachtell Lipton, on the issue. Additional, fireworks may come from Tim Mayopoulos and Brian Moynihan -- former and current BofA executives, respectively -- who are expected to testify before Congress today.

The betting on Wall Street is that the documents will contain some juicy evidence concerning what BofA (BAC, Fortune 500) executives and Wachtell lawyers relied upon to reach their collective decision not to release the growing Merrill losses. The Wachtell lawyers as well as Mayopoulos and Moynihan were among those interviewed by Congress, in private. The speculation is that BofA management and the bank's legal team at Wachtell started out thinking that the bank would have to disclose the growing Merrill losses. This was reportedly the plan through October, but after reviewing documents about the projected losses provided to them by Merrill in November 2008, BofA's leaders changed the plan and decided not to report the losses.

The questions hanging in the air -- and that will likely be answered today and in the days following the hearing -- pertain to the accuracy and the reliability of the Merrill forecasts about the losses looming in their portfolio of toxic assets: Did BofA executives and Wachtell's lawyers use the Merrill documents as a reliable forecast even though they knew there were flaws in them? Did their guesswork about the Merrill losses form the basis for their conclusion that shareholders did not need a disclosure of the mounting losses? Did their guesswork masquerade as a thorough analysis of the potential losses? Was there even any analysis by BofA of the losses?

The reason that answers to these important questions are finally coming to light now has to do with a cache of documents that were turned over to Congress and to Andrew Cuomo, the New York State attorney general, on October 16 after months of legal wrangling between the banks and the politicians. BofA claimed that the advice it received from Wachtell was subject to attorney-client privilege and had no intention of waving that privilege. But under intense pressure from Congress and from Cuomo, the bank relented and turned over boxes of documents and emails, said to number in the thousands.

Some of these documents will likely be released at today's hearing -- as has been the Committee's custom -- and some may be released subsequent to the hearing should the congressmen on the Committee choose to pursue further the matter with the SEC of whether securities laws were violated. Rep. Dennis Kucinich (D-Ohio) for one has been particularly outspoken about pressing the SEC about whether BofA's outgoing CEO Ken Lewis broke securities laws. In August, Rep. Kucinich sent a letter to SEC chairman Mary Schapiro urging her to thoroughly investigate the issue.

BofA said in a statement that the bank has done nothing wrong. "We are confident the record demonstrates what we have said all along: Throughout the deliberations around our acquisition of Merrill Lynch, Bank of America acted in good faith and consulted with one of the premier law firms in the United States to work through tough issues in the face of unprecedented economic conditions. Despite the challenges, the transaction has turned out to be a success for our customers, for our shareholders, and, ultimately, the taxpayer."

Getting past the rhetoric and getting to the bottom of whether BofA management misled shareholders is essential, of course, because it is the largest bank in the country and Merrill Lynch is one of the world's largest investment banks. Taxpayers have now lent BofA $45 billion in TARP funds and countless more billions in the form of guarantees. The men and women at the top of these organizations get paid millions of dollars a year to evaluate the potential risks to which they ended up exposing not only their shareholders and creditors but also, now, the American taxpayers.

Some emails and documents have already leaked out, and they do not paint a pretty picture. One January 15, 2009 email chain between two members of the BofA board of directors, who are buddies -- Chad Gifford, a former CEO of FleetBoston Financial, a bank acquired by BofA, and Thomas May, Chairman and CEO of NSTAR, a Boston-based utility -- may not sit well with John Q. Public. While Lewis was briefing them about the government's new bailout for BofA seems to sum up well the overriding theme of the deal, from at least one perspective. The two men were joking around as they were hearing the news, via a board conference call, and when Gifford encouraged May to pay closer attention instead of emailing him, May wrote Gifford: "Screw you." To which Gifford responded, a minute later: "Unfortunately, it's screw the shareholders!!" Gifford and May are also expected to testify today.

First Published: November 17, 2009: 9:27 AM ET

U know its bad when a big auto,

Ferdenanone — Wed, 18 Nov 2009 00:41:55 GMT

company like Daimler Crysler, & GM r rentting out other fokes cars.... The real real little 1's.....? They call them Cars2go...? (the real little 1's)

GM

MTnews — Mon, 16 Nov 2009 21:49:39 GMT

Daily Market Commentary for November 16, 2009

GM

GM reported an overall loss for the third-quarter but is staying optimistic about the future of the company; they said they will start to repay some of the money the government loaned them. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember1609.aspx

Economic data released today:

Retail Sales:
U.S. October Retail & Food Sales rose 1.4%; compared to consensus of an increase by 0.9%; U.S. October Retail & Food Sales Excluding Autos rose 0.2%; September Retail & Food Sales Revised to fall 2.3% from a decrease by 1.5%.

New York Empire State Manufacturing Index:
New York Fed's November Manufacturing Index 23.51 versus 34.57 in October; New York Fed November New Orders 16.66 versus 30.82 in October; New York Fed November Employment 1.32 versus 10.39 in October; New York Fed November Prices Received fell 2.63 versus a decrease by 5.19 in October.

Business Inventories:
U.S. September Business Inventories fell 0.4%; was expected to fall 0.8%; U.S. September Motor Vehicle & Parts Inventories rose 3.8%.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit gain 137.70 points, EOD 10,408.17
NYSE (New York Stock Exchange) triple digit gain 117.18, EOD 7,237.07
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 28.75 points, EOD 2,196.63
S&P 500 (SPX) gain 15.58 points, EOD 1,109.06
BEL 20 (BEL20) gain 28.85 points, EOD 2,535.32
CAC 40 (CAC40) gain 57.15 points, EOD 3,863.16
FTSE100 (UKX100) gain 86.29 points, EOD 5,382.67
NIKKEI 225 (NIK/O) gain 20.87 points, EOD 9,791.18

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,494 declined stock prices 619, unchanged stock prices 78, stock prices hitting new highs 312 and stock prices hitting new lows 5. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: CME gain 4.72, HOD 321.40, LOD 315.89, EOD 318.48; EDC gain 10.35, HOD 165.00, LOD 158.50, EOD 162.74; ICE gain 1.50, HOD 111.35, LOD N/A, EOD 110.03; RTP gain 10.75, HOD 222.98, LOD 219.34, EOD 220.84; FAS gain 2.60, HOD 81.11, LOD 77.44, EOD 78.78; PBR gain 0.77, HOD 51.44, LOD 50.45, EOD 50.95; PLA gain 0.23, HOD 5.22, LOD 4.64, EOD 4.78; FDX gain 2.83, HOD 84.92, LOD 83.08, EOD 84.80; ADY shed 6.89, HOD 26.52, LOD 23.61, EOD 25.54; MA shed 3.92, HOD N/A, LOD 228.92, EOD 230.80; CF gain 0.93, HOD 82.15, LOD 80.19, EOD 81.29; AEM gain 1.01, HOD 62.59, LOD 61.10, EOD 61.62.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 2,112, declined stock prices 664, unchanged stock prices 95, stock prices hitting new highs 177 and stock prices hitting new lows 17. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: BIDU gain 5.82, HOD 442.63, LOD 434.05, EOD 438.32; TIBX shed 0.17, HOD 9.25, LOD 9.01, EOD 9.21; FSLR gain 5.11, HOD 125.22, LOD 120.02, EOD 123.41; AAPL gain 2.18, HOD 208.00, LOD 205.01, EOD 206.63; TFSL shed 0.38, HOD 11.49, LOD 10.38, EOD 11.07; IBKC gain 8.03, HOD 54.18, LOD 50.17, EOD 52.43; SHLD gain 3.06, HOD 79.75, LOD 74.26, EOD 77.60; AMZN shed 1.38, HOD 134.56, LOD 130.98, EOD 131.59.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 320, declined stock prices 204, unchanged stock prices 46, stock prices hitting new highs 20 and stock prices hitting new lows 5.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1106.25; Change 14.75
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,803.75; Change 15.50
E-mini DOW $5 (YM) Dec 09: EOD 10,367; Change 125
E-mini S&P MidCap 400 (MF) Dec 09: EOD 708.90; Change 11.70
Nikkei 225 (Yen) Dec 09: EOD 9,875; Change 100

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6678 U.S. Dollars 1.4974
Japanese Yen 89.1000 to U.S. Dollars 0.0112
British Pound 0.5941 to U.S. Dollars 1.6832
Canadian Dollar 1.0466 to U.S. Dollars 0.9555
Swiss Franc 1.0075 to U.S. Dollars 0.9926

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) gain $2.55, EOD $78.90 per barrel ($US per barrel)
Heating Oil (December 09) gain $0.07, EOD $2.07 a gallon ($US per gallon)
Natural Gas (December 09) gain $0.19, EOD $4.99 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) gain $0.07, EOD $1.99 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) gain $22.70, EOD $1,139.40 ($US per Troy ounce)
Silver (December 09) gain $1.03, EOD $18.41 ($US per Troy ounce)
Platinum (January 09) gain $55.90, EOD $1,444.60 ($US per Troy ounce)
Copper (December 09) gain $0.13, EOD $3.13 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) gain $0.50, EOD $62.35
Pork Bellies (February 10) gain $0.35, EOD $87.40
Live Cattle (December 09) shed $0.03, EOD $85.13
Feeder Cattle (January 10) shed $0.20, EOD $92.38

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) gain 11.75, EOD $417.50
Soybeans (January 10) gain $23.00, EOD $1,010.00

BOND MARKET:
2 year EOD 100 14/32, change 3/32, Yield 0.76, Yield change -0.05
5 year EOD 100 29/32, change 11/32, Yield 2.18, Yield change -0.07
10 year EOD 100 10/32, change 23/32, Yield 3.33, Yield change -0.09
30 year EOD 101 22/32, change 1 13/32, Yield 4.27, change -0.08

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly Market News for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading service. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com http://www.millennium-traders.com/index.aspx

Stock Name Change

M.Khazaali — Mon, 16 Nov 2009 15:55:21 GMT

Hello, Sometime ago I bought a large amount of shares called CWSI (china wind systems) I cannot seem to sell them or buy more since the stock has been renamed. Does anybody know if your old-named stocks ever become usable?

AMA Calls for Feds to Review Marijuana Restrictions

Seti03 — Fri, 13 Nov 2009 10:58:17 GMT

(CBS)

The American Medical Association on Tuesday adopted a resolution calling for the government to review its classification of marijuana, in order to ease the way for more research into the use of medical marijuana.

While the AMA, the largest physician's organization in the U.S., explicitly states it does not endorse any current state-based medical marijuana programs or the legalization of marijuana, the move is a significant shift that continues a trend toward support for easing restrictions against the drug.

"Our American Medical Association (AMA) urges that marijuana's status as a federal Schedule I controlled substance be reviewed with the goal of facilitating the conduct of clinical research and development of cannabinoid-based medicines," the AMA's statement (PDF) reads. "This should not be viewed as an endorsement of state-based medical cannabis programs, the legalization of marijuana, or that scientific evidence on the therapeutic use of cannabis meets the current standards for a prescription drug product."

Marijuana is currently classified by the federal government as a "Schedule I" controlled substance, the most restrictive of five categories. Schedule I substances are considered to have a high potential for abuse, no accepted medical use and a lack of accepted safety for use of the drug. Other drugs in that category include heroin, LSD and PCP. Less restrictive "Schedule II" substances include cocaine and methamphetamine.

Previously, the AMA recommended marijuana remain a Schedule I controlled substance, but it now believes the substance deserves more clinical research.

"Despite more than 30 years of clinical research, only a small number of randomized, controlled trials have been conducted on smoked cannabis," Dr. Edward Langston, an AMA board member, told the Los Angeles Times. Limited studies, he said, are "insufficient to satisfy the current standards for a prescription drug product."

The White House drug czar's office gave a muted response to the AMA's recommendation, the LA Times reports, saying it would defer to "the FDA's judgment that the raw marijuana plant cannot meet the standards for identity, strength, quality, purity, packaging and labeling required of medicine."

While the Obama administration opposes legalization of marijuana, the Justice Department last month announced it would no longer pursue prosecution for state-sanctioned medical marijuana sales. As many as 13 states now allow the use of medical marijuana.

The debate over whether to legalize marijuanaall together seems to be gaining steam. A Gallup poll last month showed a record 44 percent of Americans now support legalizing marijuanaMeanwhile, California residents may get to vote on a 2010 ballot measure to legalize the drug in the state.

*************************************************************

"Where do I sign up..."

WHAT HOUSING BUST?

Purplepassion — Sun, 15 Nov 2009 18:28:59 GMT

What Housing Bust?

Les Christie, CNNMoney.com staff writer Nov 13th, 2009

During the past three years, home prices grew in the heartland and fell in the coastal states.

Over the past three years, 23 states recorded home price gains in the majority of their metro areas, according to analytics firm Fiserv. And where were most of those gainers? In much of the so-called heartland: the South, the Plains and most of the non-coastal West.

Meanwhile, the 16 states that posted declines were led by much of New England and the Northeast, plus California, Florida, Nevada and Arizona.

Most telling, however, was that the 12 remaining states -- those that posted mixed results in their metro areas -- were found in every region of America.

And even in the mixed results states, such as New York, the bust hit "blue" metro areas, like New York City and Long Island (both down 21.7%), and spared "red" upstate cities. Buffalo prices grew 8.3%, Syracuse climbed 8.4%, Utica gained 10.4%, and Binghamton was up 17.7%.

The states where metro markets rose generally share two characteristics, according to Mark Fleming, chief economist for First American CoreLogic: low prices and open space.

"In markets with a lot of developable land, volatility is much reduced," he said.

MORE FROM CNNMONEY.COM

That lack of volatility meant house prices did not skyrocket during the boom, which left them less likely to crash after the bubble burst.

Foreclosure factor

In bubble markets, such as California and Florida, many homebuyers struggled to afford homes when prices were experiencing double-digit growth. As a result, they tapped exotic mortgage products -- sub-prime hybrid ARMs, interest-only loans, option ARMs -- to get in the door.

These mortgages often proved disastrous once home prices stopped growing. Defaults multiplied, bank repossessions soared and home prices, as a consequence, nose-dived.

In contrast, home prices remained more affordable in states where land was available. That's because the constant influx of supply kept demand -- and thus prices -- more in check. Homebuyers did not need to resort to toxic mortgages and there was little real estate speculation because price gains were too modest to make "flipping" profitable.

Texas is the poster child for these "steady Eddie" states. House prices during the past three years rose in all 26 metro areas with gains ranging from 2.8% for Dallas, the second largest metro area, to 9.7% in Houston, the largest, to a whopping 32.5% in Odessa.

Texas illustrates that housing markets show considerable "elasticity of supply," according to Fleming. When demand -- and prices -- for housing go up, developers can, quite quickly, build new homes to meet that need -- if there's land available. That quick response tends to prevent prices from running away as supply increases to meet demand. Texas real estate in a nutshell.

Of course, that also means sprawl. And a lot of it.

Some states, Illinois being a prime example, contain both types of markets. There, home prices in most markets rose while Chicago, the largest market -- and the the one most lacking developable land -- absorbed a 25.2% decline.

While places such as Manhattan and San Francisco have natural restrictions on growth -- both are essentially surrounded by water -- some cities, especially in the Northeast and the West Coast, have artificially restricted growth.

Those policies are meant to promote density in core areas, preserve nearby green space and eliminate sprawl. Urban planners of smart growth cities intend the policies to foster an exciting, more urban lifestyle, while facilitating easy access to outdoor recreation and nearby food sources.

Portland is the shining example of smart growth. In 1973, Oregon passed an urban growth boundary law, which required that each of the state's municipalities set a line in the sand on which open land could be developed.

The policy is credited with fostering Portland's excellent reputation as an attractive, livable city -- but it may have been too successful. Population growth has been so robust that some residents have complained about too much congestion in its core. And some building has been pushed out into nearby areas, such as in adjacent Washington, that have less strict policies.

Meanwhile, the home price in Portland recorded a more than 86% gain from 2000 through the middle of 2007. The median, at $255,000 during the second quarter of 2009, is well above the national average of $174,000.

In contrast, a Texas city like Dallas, for example, which is practically an anti-Portland, recorded only 26% appreciation over the same period.

The most notable exceptions to the Budweiser/Beaujolais divide are Midwestern cities where economic turmoil has played havoc with housing markets. Ohio and Michigan, the two states hit hardest by auto-industry job losses, both had many more cities record losses than gains.

In Ohio, only the smallest and least industrialized metro areas, Weirton-Steubenville and Lima gained over the 36 months. Meanwhile, the heavy industry cities of Toledo, Youngstown and Cleveland produced big losses.

All but one of Michigan's 15 metro areas lost home value, with Detroit falling 51.7%, the worst case.

Jim Stack's naked truth about the current bull market

nanakeser — Sat, 14 Nov 2009 23:22:14 GMT

Investing expert James Stack was one of the first on Wall Street to predict the stock market meltdown and recent bear market. In the late 1990s, the editor of the biweekly newsletter InvesTech Research warned of a high-tech bubble that would spread to other sectors and take down many small investors. More recently, he has left the bear behind and has been making the case that the economy is rebounding for real.

Even in the face of dismal corporate earnings, Stack says we have truly turned the corner and that recent stock market gains will not be short lived. In fact, he says they will continue through 2010. We caught up with Stack to discuss why this is the case. He makes an important point: Investors would be wise not to look at corporate earnings to figure out where the stock market is headed. Read on to find out why.

DailyFinance: You make an interesting point in InvesTech Research that most seasoned investors agree that the stock market leads the economy. Yet they somehow jump to the opposite conclusion that corporate earnings should lead stock prices.
Jim Stack: Yes, that is true. But that has seldom been the case -- especially coming out of recession. In fact, there is an average eight-month lag between the end of the recession and when investors start seeing a positive earnings increase.

Why such a lag?
One reason is that any astute corporation will use a recession as an opportunity to increase profit margins and clean up its balance sheet. Unprofitable segments or divisions are shut down. Depreciable assets or amortization will be written off as an expense. The impact on earnings is negative, but it significantly improves the potential profitability coming out of the recession.

And this has been one of the longest recessions in a long time.
Yes, it has been the longest in 76 years, so it's normal to expect a lot of restructuring to have a major impact on corporate earnings. Based on the time period, if the recession ended in June, we shouldn't see the first increase in corporate earnings until the first quarter of 2010, although we expect it by the fourth quarter of this year.

So what is your view on corporate earnings now, as we come out of a long recession?
If you look at operating earnings, instead of reported earnings, which include the recessionary write-offs, the total earnings for the S&P 500 companies are down 43% from their high in 2007. Yet the stock market is up. But sector by sector, the story is very different. Frankly, outside of the banking debacle and boom-to-bust cycle in commodities, we're fairly impressed with the stability in corporate earnings. In fact, some sectors are seeing healthy increases from what were previously "peak earnings" in the second quarter of 2007.

Which sectors showed the strongest increases in earnings?
Consumer staples, health care and utilities have actually seen strong increases in earnings since that pre-recession peak in the second quarter of 2007. Technology and telecom are down only slightly, while consumer discretionary and industrials are off about what might be expected from a severe recession.

In other words, if you look past the boom-to-bust commodity cycle and the financial debacle (which is the focus of the government bailout), then corporate earnings are not as scary as they seem.

But they still look scary by some metrics. If you look at reported earnings, a price-to-earnings ratio of 145 for the S&P 500 appears downright frightening!
But that's far from the whole story. If you look at the alternative of sitting in cash, or in a money market fund or T-bills, then stocks look pretty attractive by comparison. For example, it's pretty easy today to step out there and find healthy companies paying a 3% to 4% dividend yield. One valuation metric that we have used in the past is the ratio of T-bill yields to the S&P 500 Dividend Yield. And by that comparison, one might say that stocks have never looked cheaper.

So what are the lessons, here, for investors?
When looking at valuation arguments from Wall Street pundits or in the media headlines, always remember:

Earnings never tell us where the stock market is headed... instead, the stock market tells us where earnings will be a year from now.
Measuring valuation is not black and white... there's always a lot of "gray" involved.
In many cases -- especially after a recession -- all the hype about earnings and valuations is simply "noise"... the kind of distracting information that keeps you from focusing on what's important.

Do you believe, then, that the current bull market should continue for sometime?
If this bull market is for real, and we believe it is, then it could still be in its early stages. Yes, there are lots of obvious problems and dark clouds overhead, yet that is usually the case in the first year of a new bull market. The first six months to 12 months of a new bull market are always the most disbelieved and unloved. And from the weeks immediately preceding the March 9 low through this scary month of October, there have been more than enough ominous headlines to frighten investors to the sidelines and keep them there.

Coming out of one of the longest bear markets, should we now expect a long bull market?
We believe this will not turn into one of the longer bull markets, or perhaps not even match the average Bull Market Duration of 3.8 years. But I also would say that it would be a rare exception to see this bull market expire before the end of next year. Note that not one bull market in the past 60 years has lasted less than two years.

Financial innovation is Wall Street's new 'soul sickness'

Seti03 — Sat, 14 Nov 2009 17:32:32 GMT

New mutant American capitalism has no moral compass

By Paul B. Farrell, MarketWatch

ARROYO GRANDE, Calif. (MarketWatch) -- Could our headline just as easily read: "Financial innovation: Wall Street's biggest con game?" How about: Rip-off? Joke? Oxymoron? Maybe "Wall Street's big lie?" Or something darker: "Financial innovation: Wall Street's deadliest sin, greatest evil, even soul-sickness?"

In fact, they all fit. Each reveals Wall Street's dark side: Why are they at war to keep financial innovation secret, hidden, without public transparency? And why is Wall Street spending millions on lobbyists to kill financial-regulation reforms? Why? Because Wall Street rakes in tens of billions of dollars annually from their financial innovations, gambling in the shadowy $670 trillion global derivatives market. And Wall Street does not want government, investors or competitors digging into their "financial weapons of mass destruction," as (Warren) Buffett calls them.

Remember, financial innovation is just a Wall Street code word. Translated it simply means derivatives and other proprietary secrets like the high-frequency trading algorithms used by their quants. Yes, Wall Street wants you to believe that financial innovations also help Main Street, but that's just Wall Street lobbyist propaganda to mislead the public, regulators and legislators. Remember when Washington proposed standardized mortgages as a way to help consumers? Wall Street attacked, spending millions to kill it.

Wall Street has no interest in helping Main Street. Time magazine's Justin Fox, author of "The Myth of the Rational Market," said it best in his "Curious Capitalist" column. Most so-called financial innovations are "just new ways to fleece customers or hide risk, and all major financial crises have been associated with some financial innovation." Even credit-card innovations are used against customers as marketing tools to increase fees. The truth is: Wall Street's greed-driven financial innovations fuel our bubble/meltdown cycles in many ways.

Hard-core Reaganomics is back

Wall Street's obsession with unregulated financial innovation also signals a resurgence of Reaganomics, the conservative ideology that killed Glass-Steagall in 1999, created "too-big-to-fail" banks, and set the stage for the 2008 meltdown. That 60-year-old law protected Main Street by separating low-risk retail banking from high-risk investment banking gambling with high-octane financial innovations.

Former Fed Chairman Paul Volcker and Nobel-Prize-winning economist Joseph Stiglitz warn: We need a new Glass-Steagall to rein in Wall Street. Or prepare for a new meltdown. At a Senate hearing last summer financial-innovation pioneer Richard Bookstaber, author of "A Demon of Our Own Design: Markets, Hedge Funds & the Perils of Financial Innovation," said: "Derivatives are the weapon of choice for gaming the system." They are "vehicles for gambling ... side bets on the market."

Get it? Derivatives put all markets, investors and taxpayers at risk. These "side bets can pose risks that extend beyond the losses to the person making the bet," because they actually "change the behavior of the market." In short, financial innovations only serve the interests of Wall Street's insiders, not the public interest, not Main Street investors, not American taxpayers, and not retail banking customers. Without transparency and regulation reform, a new meltdown is guaranteed.

Unfortunately, Wall Street has no incentive to help the public good. Quite the opposite: They want to get very rich, very fast. And our laws encourage their greed. Bookstaber and other critics warn that Wall Street's goals are clear: Design financial innovations that evade securities laws, avoid taxes, minimize capital requirements, increase leverage, hide speculative risks, maximize short-term profits, and avoid stockholder disclosures. In short, Wall Street is back running the same con game that triggered the 2007-08 meltdown, which is why they've amassed a record bonus pool so fast. They have no conscience.

Historical evolution of a new 'American capitalism' mutation

Yes, Wall Street's behavior has the feel of a socio-pathological disorder and a strong hint of a secret conspiracy to defraud America, a cultural "soul sickness." Now visible: An emerging new mutant American capitalism. In fact, Matt Taibbi's description of Goldman Sachs fits the entire banking industry: a "giant vampire squid wrapped around the face of humanity." Look closely and see clear signs of immoral, even criminal, misconduct fueling Wall Street's obsession with unregulated financial innovation. To fully understand why, you need to see financial innovation in the broader, historical context of the emerging new American capitalism.

1. In the beginning, Adam Smith's 'Wealth of Nations'

"Every individual ... necessarily labours to render the annual revenue of the society as great as he can." But he "neither intends to promote the public interest, nor knows how much he is promoting it. ... he intends only his own gain ... led by an invisible hand to promote an end which was no part of his intention." The public good is collateral damage from the aggregate economic activities of greedy individuals all acting solely in their own narrow selfish interests. That's pure capitalism. Today the equation survives and thrives as the "efficient market hypothesis," where the collective behavior of 95 million irrational investors is assumed to create a totally rational capitalist stock market.

2. Greenspan and Ayn Rand, author of 'The Fountainhead' and 'Atlas Shrugged'

Rand was Greenspan's guru and mentor. For decades they had a profound impact on American capitalism. Rand was dogmatic: "When I say 'capitalism,' I mean a pure, uncontrolled, unregulated laissez-faire capitalism, with a separation of economics, in the same way and for the same reasons as a separation of state and church." Why? "Capitalism is the only system that can make freedom, individuality, and the pursuit of values possible in practice because capitalism demands the best of every man -- his rationality -- and rewards him accordingly. It leaves every man free to choose the work he likes, to specialize in it, to trade his product for the products of others, and to go as far on the road of achievement as his ability and ambition will carry him." Rand captured the conservative spirit of the emerging American capitalism, and through her disciple, both demanded total, unrestricted freedom for Wall Street.

3. Reaganomics and Milton Friedman's 'Capitalism and Freedom'

Reaganomics defined conservatism after 1981, grounded in Nobel Economist Milton Friedman's conviction that "the government solution to a problem is usually as bad as the problem." He hated FDR's New Deal and Keynesian economics, preaching hard-core Adam Smith capitalism. Naomi Klein, author of "Shock Doctrine: The Rise of Disaster Capitalism," summarized Friedman's "three trademark" principles of conservatism: "Privatization, government deregulation and deep cuts in social spending." That ideology gutted Glass-Steagall. And as Thomas Frank put it in "The Wrecking Crew: How Conservatives Rule:" "Innovations in governance" meant take "jobs away from career civil servants and hand them over to the big federal contractors." Reaganomics led to an Iraq war fought by more profit-hungry private mercenary contractors than committed volunteers. Ironically, it created bigger government.

4. New 'mutant' American capitalism must kill financial regulations

American capitalism generally, and Wall Street's mindset specifically, reflects the 234-year history from Adam Smith to Friedman, Reaganomics, Rand and Greenspan. Today however, it is resurfacing in a new disguise: Wall Street's blind obsession to kill all restrictions on financial innovations, whether in the SEC, FDIC, CFTC, or proposed Consumer Financial Protection Agency. Wall Street's cash got Obama elected, got their Trojan horses in his cabinet. Now their millions flow the opposite way, as their lobbyists sabotage Obama's financial-regulation reforms. And no matter who gets elected, Wall Street runs the game.

Wall Street's soul sickness feeds on mutant American capitalism

So tell us: Which headline did you pick? "Financial innovation: Wall Street's biggest con game?" Or maybe: Hoax? Rip-off? Scam? Joke? Oxymoron? Or was it Wall Street's biggest lie? Perhaps "Financial innovation: Wall Street's greatest evil?" Mortal sin? Soul sickness?

You think "soul sickness" is too heavy? Not really. Since the Enron scandals, critics have been warning that Wall Street has lost its moral compass. However, in the new mutant American capitalism, Wall Street doesn't need a moral compass. Get it? Ethics and morals are irrelevant in the emerging new American capitalism, the latest mutation of Adam Smith's capitalism.

That means Wall Street's blind "anything goes" obsession with financial innovation is totally consistent with the rules of the new American capitalism. Morals, ethics and the public good are irrelevant in the rules of Wall Street's new mutant American capitalism.

Wall Street's only restriction is to obey the 11th commandment: "Thou shalt not get caught." And when you compare the number of indictments from the 2008 meltdown to earlier ones during the Enron-era scandals and the S&L frauds (plus add in the $23.7 trillion debt those same "too-greedy-to-fail" crooks scammed from American taxpayers), you can easily see why Wall Street is clearly living within the rules they created for the new mutant American capitalism.

And that, folks, is why my final headline pick is: "Financial innovation: Wall Street's soul sickness." Why? Because this is a grave moral issue for all Americans, but Wall Street doesn't get it. Unfortunately, neither does Washington. Worse, neither do the American people, but that's what a cultural "soul sickness" does -- it blinds us to moral issues and leaves us wandering, lost, in the fog of Wall Street's self-destructive new mutant American capitalism

Eight steps Congress can take to create more jobs

papawely — Wed, 11 Nov 2009 19:40:47 GMT

The U.S. unemployment rate is at a 25-year high, 10.2%, and the job market is likely to get worse before it gets better. The nation's economy has started to recover, but net monthly job creation -- a lag indicator -- is not likely to start for several months, and perhaps not until mid-2010. That means the unemployment rate will probably rise until early next year.

Is the United States resigned to just let market forces play themselves out, with the unemployment rate rising to whatever level it could? Or are there additional actions the U.S. Congress and state legislatures can take to stimulate job growth and create jobs? Indeed, there are measures legislators can enact. Below are a few:

1. Lower the capital gains tax to encourage more investment.

2. Pass a series of targeted, investment tax credits for high value-added sectors that are likely to be star performers in the U.S. economy over the next decade. The tax credits should stipulate that companies must retain most jobs added under the program in the United States.

3. Temporarily suspend the payroll tax, or at least consider giving small businesses more time to pay the tax on new hires, as a way of providing an incentive to hire.

4. Accelerate federal infrastructure programs and grants to states, where possible, to get as many infrastructure/construction workers employed as is reasonably possible during the next 12 months to 15 months. The goal is to increase demand from all pressure points to give the U.S. economic recovery more momentum.

5. Further extend both existing unemployment and food stamp programs: numerous studies have shown that dollars from both of these programs are spent quickly -- i.e. they create demand for goods quickly -- and demand for goods leads to jobs. In addition, increasing the modest unemployment stipend also would likely translate into a increased flow of dollars into communities.

6. Increase both student loan guarantees and grants for undergraduate/graduate study. Now is not the time to cut federal aid to higher education. On the contrary, Congress should be increasing aid to higher education -- community college level through four-year college level -- because, with so few job openings and so many applicants, millions more Americans will be returning to school.

Further, with that return to campus, the United States can make the best (new skills attainment) out of a negative (lack of jobs): now is a great time for millions of adult Americans to learn new skills, and, in some cases, to train for an entirely new career. The opportunity cost is very low.

Here's one example: a $500,000-plus unemployed mortgage bank executive returns to college for two years to add specialized skills to become a chief financial officer of a small- to mid-sized company. His focus: solar and wind energy companies and other greentech startups.

7. Congress could also increase specialized education grants to encourage the training of a whole new generation of mechanical engineers, electrical engineers, architects, scientists, chemists, physicists and teachers.

And did we mention health care reform? The states, perhaps with a partially matching federal grant, could increase state-level grants for medical students in training to be general practice physicians: we're going to need many more general practice physicians to treat those 30 million to 45 million additional adults regularly accessing health care services. That goes for nurses, as well.

8. Time to revive the CCC and WPA?

Finally, there also are larger, more-direct actions that Congress could take to increase employment, by resurrecting such agencies as the Civilian Conservation Corps (CCC) and the Works Progress Administration (WPA). There's plenty of work to be done in the nation and ample skilled and semi-skilled citizens willing to do it. Jobs would range from highly skilled professional positions in the engineering and architectural sciences, to more modest-skilled positions. Job tenures could be limited to 1 year to 2 years, or could extend for several years, depending on the project or mission.

However, regarding that last option, as of now, there doesn't appear to be sufficient political support for the CCC, WPA or comparable direct employment programs.

And let's hope public support and political pressure for the CCC and WPA remain low in the quarters ahead, because that means the nation's unemployment rate is falling.

- -

Financial Editor Joseph Lazzaro

Trade Deficit

MTnews — Fri, 13 Nov 2009 21:50:25 GMT

Daily Market Commentary for November 13, 2009

Trade Deficit

Stocks rose slightly today as the Commerce department reported a larger-than-expected increase in the trade deficit, topping analysts’ expectations. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember1309.aspx

Economic data released today:

Trade Balance:
U.S. September Trade Deficit $36.5B; compared to consensus of a deficit of $32.0B; August Trade Balance Revised to Deficit $30.8B from Deficit $30.71B.

Import Price Index:
U.S. October Import Prices rose 0.7%; compared to consensus of an increase by 1.0%; U.S. October Non-Petroleum Import Prices rose 0.7%; U.S. October Petroleum Import Prices rose 0.9%; September Exports $132.0B, rose 2.9%; Imports $168.4B, rose 5.8%.

University of Michigan Consumer Sentiment Index:
Mid-November Sentiment 66; October 70.6; Mid-November Expectations 63.7; October 68.6; 12-Month Inflation Forecast rose 2.8%; October rose 2.9%.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) gain 74.51 points, EOD 10,271.98
NYSE (New York Stock Exchange) gain 56.84, EOD 7,119.89
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 18.21 points, EOD 2,167.23
S&P 500 (SPX) gain 6.11 points, EOD 1,093.35
BEL 20 (BEL20) gain 25.54 points, EOD 2,506.47
CAC 40 (CAC40) shed 2.06 points, EOD 3,806.01
FTSE100 (UKX100) gain 19.88 points, EOD 5,296.38
NIKKEI 225 (NIK/O) gain 45.25 points, EOD 9,770.31

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,200 declined stock prices 841, unchanged stock prices 109, stock prices hitting new highs 94 and stock prices hitting new lows 3. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: JWN shed 0.52, HOD 34.08, LOD 32.41, EOD 33.99; URS gain 4.36, HOD 44.91, LOD N/A, EOD 44.85; FAS shed 0.35, HOD 77.54, LOD 74.36, EOD 76.18; DG unchanged, HOD 23.10, LOD 21.75, EOD 22.73; GS shed 1.72, HOD N/A, LOD 175.64, EOD 176.76; CME shed 1.38, HOD 319.00, LOD 311.19, EOD 313.76; ESE shed 4.09, HOD 42.00, LOD 31.20, EOD 33.27; AGO gain 3.56, HOD 22.69, LOD 18.48, EOD 21.66; CPA gain 3.23, HOD 50.88, LOD 48.26, EOD 50.48; CRM gain 3.23, HOD 66.15, LOD 63.33, EOD 66.13.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,810, declined stock prices 901, unchanged stock prices 137, stock prices hitting new highs 59 and stock prices hitting new lows 41. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: TSTC gain 1.82, HOD 13.19, LOD 10.87, EOD 11.90; RINO gain 3.20, HOD 28.10, LOD 25.64, EOD 26.66; FSLR gain 2.92, HOD 119.54, LOD 115.78, EOD 118.29; BIDU gain 5.35, HOD 432.50, LOD 424.31, EOD 432.50; WYNN gain 1.39, HOD 69.60, LOD 68.51, EOD 69.00; TCLP shed 2.06, HOD 38.01, LOD 37.75, EOD 37.75; SHLD gain 4.68, HOD 75.00, LOD 70.00, EOD 74.54; GENZ shed 3.89, HOD 53.99, LOD 47.80, EOD 49.28; NLST gain 2.40, HOD 4.83, LOD 2.12, EOD 4.47.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 279, declined stock prices 231, unchanged stock prices 44, stock prices hitting new highs 8 and stock prices hitting new lows 5.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1091.50; Change 4.25
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,787.50; Change 13.75
E-mini DOW $5 (YM) Dec 09: EOD 10,237; Change 48
E-mini S&P MidCap 400 (MF) Dec 09: EOD 697.20; Change 4.60
Nikkei 225 (Yen) Dec 09: EOD 9,770; Change -5

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6703 U.S. Dollars 1.4918
Japanese Yen 89.6600 to U.S. Dollars 0.0112
British Pound 0.5991 to U.S. Dollars 1.6690
Canadian Dollar 1.0503 to U.S. Dollars 0.9521
Swiss Franc 1.0115 to U.S. Dollars 0.9886

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) shed $0.59, EOD $76.35 per barrel ($US per barrel)
Heating Oil (December 09) shed $0.02, EOD $2.00 a gallon ($US per gallon)
Natural Gas (December 09) gain $0.04, EOD $4.80 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) shed $0.02, EOD $1.92 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) gain $10.20, EOD $1,116.80 ($US per Troy ounce)
Silver (December 09) gain $0.13, EOD $17.39 ($US per Troy ounce)
Platinum (January 09) gain $25.50, EOD $1,388.70 ($US per Troy ounce)
Copper (December 09) gain $0.03, EOD $3.00 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) gain $0.50, EOD $61.85
Pork Bellies (February 10) gain $2.00, EOD $87.05
Live Cattle (December 09) gain $0.33, EOD $85.15
Feeder Cattle (January 10) gain $0.08, EOD $92.58

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) unchanged, EOD $390.50
Soybeans (January 10) shed $3.00, EOD $987.00

BOND MARKET:
2 year EOD 100 11/32, change 0, Yield 0.81, Yield change 0.00
5 year EOD 100 17/32, change -1/32, Yield 2.25, Yield change 0.00
10 year EOD 99 18/32, change 6/32, Yield 3.42, Yield change -0.02
30 year EOD 100 10/32, change 1 27/32, Yield 4.36, change -0.03

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly Market News for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading service. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com http://www.millennium-traders.com/index.aspx

Wal-Mart

MTnews — Thu, 12 Nov 2009 21:41:51 GMT

Daily Market Commentary for November 12, 2009

Wal-Mart

Retail giant Wal-Mart reported its earnings for the third-quarter rose by over 3%, however the company issued disappointing forecasts for the 4Q. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember1209.aspx

Economic data released today:

MBA [Mortgage Bankers Association] Mortgage Applications:
U.S. MBA Market Index rose 3.2% at 627.5; last week 608.3; U.S. MBA Purchase Index fell11.7% at 220.9; last week 250.3; U.S. MBA Refinance Index rose 11.3% at 2998.2; last week 2693.7.

Initial Jobless Claims:
U.S. Jobless Claims fell 12K to 502K in week of November 7 compared to survey of a decrease by 2K; U.S. Continuing Claims for week of October 31 fell 139K to 5,631,000; U.S. Jobless Claims Revised for week of October 31 to 514K from 512K.

Crude Oil Inventories released by Department of Energy [DOE]:
U.S. Crude Oil Stockpiles +1.762 Million Barrels at 337.676 Million Barrels; U.S. Crude Oil Stockpiles +1.762 Million Barrels in week; was seen increasing by 0.2 Million Barrels; U.S. Gasoline Stockpiles +2.56 Million Barrels at 210.837 Million Barrels; U.S. Gasoline Stockpiles +2.56 Million Barrels in week; was seen unchanged; U.S. Distillate Stockpiles +0.349 Million Barrels at 167.725 Million Barrels; U.S. Distillate Stockpiles +0.349 Million Barrels in week; was seen -0.4 Million Barrels; U.S. Refineries Ran at 79.93% versus 80.59% week ago; U.S. Refineries Ran at 79.93% capacity; was seen 80.90%.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) shed 91.37 points, EOD 10,199.89
NYSE (New York Stock Exchange) shed 92.54, EOD 7,062.82
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 18.02 points, EOD 2,148.88
S&P 500 (SPX) shed 11.3 points, EOD 1,087.21
BEL 20 (BEL20) gain 2.95 points, EOD 2,480.93
CAC 40 (CAC40) shed 6.32 points, EOD 3,808.07
FTSE100 (UKX100) gain 9.75 points, EOD 5,276.50
NIKKEI 225 (NIK/O) shed 117.9 points, EOD 9,804.49

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 636 declined stock prices 2,461, unchanged stock prices 73, stock prices hitting new highs 110 and stock prices hitting new lows 8. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: FAS shed 4.34, HOD 81.49, LOD 75.86, EOD 76.23; AMD gain 1.17, HOD 6.73, LOD 6.35, EOD 6.49; CME gain 0.75, HOD 318.99, LOD 310.10, EOD 314.02; MA shed 1.42, HOD 241.65, LOD 235.62, EOD 236.48; RTP shed 5.79, HOD 207.93, LOD 202.11, EOD 202.86; EDC shed 9.74, HOD 154.00, LOD 143.71, EOD 145.25.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 657, declined stock prices 2,054, unchanged stock prices 112, stock prices hitting new highs 69 and stock prices hitting new lows 47. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: BIDU shed 4.63, HOD 433.90, LOD 424.30, EOD 425.88; PALM shed 0.53, HOD 12.34, LOD 11.36, EOD 11.47; GMCR shed 7.64, HOD 70.71, LOD 66.55, EOD 68.26; CTRP gain 4.92, HOD 72.50, LOD 67.42, EOD 69.21; AAPL shed 1.15, HOD 204.87, LOD 201.43, EOD 202.10; FSLR shed 4.40, HOD 118.75, LOD 115.09, EOD 115.45; JRCC shed 2.09, HOD 20.41, LOD 19.73, EOD 19.83; TTEK shed 1.76, HOD 26.25, LOD 24.28, EOD 25.41.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 157, declined stock prices 379, unchanged stock prices 32, stock prices hitting new highs 13 and stock prices hitting new lows 8.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Dec 09: EOD 1084.00; Change -12.25
E-mini NASDAQ-100 (NQ) Dec 09: EOD 1,770.25; Change -13.50
E-mini DOW $5 (YM) Dec 09: EOD 10,154; Change -105
E-mini S&P MidCap 400 (MF) Dec 09: EOD 690.20; Change -10.70
Nikkei 225 (Yen) Dec 09: EOD 9,755; Change -175

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6739 U.S. Dollars 1.4839
Japanese Yen 90.3800 to U.S. Dollars 0.0111
British Pound 0.6032 to U.S. Dollars 1.6578
Canadian Dollar 1.0556 to U.S. Dollars 0.9473
Swiss Franc 1.0178 to U.S. Dollars 0.9825

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (December 09) shed $2.34, EOD $76.94 per barrel ($US per barrel)
Heating Oil (December 09) shed $0.06, EOD $2.03 a gallon ($US per gallon)
Natural Gas (December 09) shed $0.14, EOD $4.76 per million BTU ($US per mmbtu.)
Unleaded Gas (December 09) shed $0.05, EOD $1.94 a gallon ($US per gallon)

Metals Markets - Comex:
Gold (December 09) shed $8.00, EOD $1,106.50 ($US per Troy ounce)
Silver (December 09) shed $0.28, EOD $17.27 ($US per Troy ounce)
Platinum (January 09) shed $6.40, EOD $1,363.20 ($US per Troy ounce)
Copper (December 09) shed $0.02, EOD $2.97 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (December 09) shed $1.83, EOD $61.35
Pork Bellies (February 10) shed $0.45, EOD $85.05
Live Cattle (December 09) shed $1.10, EOD $84.83
Feeder Cattle (January 10) shed $0.98, EOD $92.50

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (December 09) shed $3.50, EOD $390.50
Soybeans (January 10) gain $18.00, EOD $990.00

BOND MARKET:
2 year EOD 100 11/32, change 1/32, Yield 0.81, Yield change -0.02
5 year EOD 100 17/32, change 5/32, Yield 2.25, Yield change -0.04
10 year EOD 99 12/32, change -1 26/32, Yield 3.44, Yield change -0.03
30 year EOD 101 24/32, change 11/32, Yield 4.39, change -0.02

Access upcoming scheduled economic data anytime by viewing the Economic Calendar from Millennium-Traders, free access to visitors on our website.

Visitors may subscribe to our free Weekly Market News for a review of the previous weeks trading news plus, view upcoming economic data scheduled for the week ahead.

Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading service. Traders should review our FREE Monthly Trading Lesson posted on our website.

Thanks for reading
Millennium-Traders.Com http://www.millennium-traders.com/index.aspx