Stock Market

Looks like it's about to get real volitale. I have a feeling this week is gonna be a wild one, one way or the other. I think there will be lots of big swings in the next few weeks.

Stay tuned
No brainer tomorrow Hitter....Oil up DJIA down.....Oil tankers with delayed delivery and Oil prducing platforms evacuated in the Gulf. Production will decrease by 25M barrels for early part of the week and you may see Light Sweet Crude at $69-70 before Thursday.

Houston Chronicle
US oil surges $4 to record above $70 on hurricane - 49 minutes ago
SINGAPORE (Reuters) - US crude oil futures surged more than $4 in opening trade on Monday, hitting a new record high above $70 a barrel after Hurricane Katrina forced Gulf of Mexico producers to shut in more than a third of their output. ...
Opec fears over storm fallout Guardian Unlimited
Oil Soars to Record as Hurricane Shuts US Gulf Production Bloomberg
Washington Post - Mobile Register - KLFY - WLOX - all 650 related ?
Hitman26 said:
Houston Chronicle
US oil surges $4 to record above $70 on hurricane - 49 minutes ago
SINGAPORE (Reuters) - US crude oil futures surged more than $4 in opening trade on Monday, hitting a new record high above $70 a barrel after Hurricane Katrina forced Gulf of Mexico producers to shut in more than a third of their output. ...
Opec fears over storm fallout Guardian Unlimited
Oil Soars to Record as Hurricane Shuts US Gulf Production Bloomberg
Washington Post - Mobile Register - KLFY - WLOX - all 650 related ?
Buy all you can afford on short sales DJIA up Monday on the exchanges.
It is not a good time to be in any market unless your really know what you are doing and in it for long hall or at the computer right now and stay there all day with tight stops

Right now it is better to bet sports than be in the market
I just don't get this market today .... I guess Its up becuz of the lesser of two evils being considered "good" news. Oil backing off the previous numbers but I still think the mood is squirrelly on the trading floor.

Hitter I wonder what number Google will top off at .... I also see a split on the horizon.
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<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD class=pageDate>Updated: 29-Aug-05 14:31 ET</TD><TD class=brf-smalltext align=right>Major Indices | Intraday Charts: Dow | Nasdaq | S&P500</TD></TR><TR><TD>
</TD></TR><TR vAlign=top><TD>
</TD></TR><TR><TD vAlign=top><!-- Content Begin--><TABLE cellSpacing=0 cellPadding=1 width="100%" border=0 xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:user=""><TBODY><TR class=sectionColor><TD class=rH colSpan=3>The market at 14:30 ET</TD></TR><TR><TD class=rD vAlign=top width="40%" colSpan=2>Dow: +61...
Nasdaq: +14... S&P: +6.22... </TD><TD class=rD with="60%">NYSE Vol: 841 mln.. Adv: 1847.. Dec: 1321
Nasdaq Vol: 876 mln.. Adv: 1554.. Dec: 1399</TD></TR><TR><TD height=3></TD></TR><TR class=sectionColor><TD class=rH>Moving the Market</TD><TD class=rL rowSpan=2>
</TD><TD class=rH>Sector Watch</TD></TR><TR vAlign=top><TD class=rD rowSpan=2>10-yr Note +5/32 at 4.17%

Hurricane Katrina hits Gulf Coast; energy prices spike on concerns about supply disruptions, but then fade noticeably from their highs

Report that oil will be released from Strategic Petroleum Reserve if necessary</TD><TD class=rD>Strong: steel, insurance brokers, div. metals, leisure products, home improvement retail, biotech, food retail, semi equip.

Weak: home furnishings, photo products, IT consulting, auto parts</TD></TR></TBODY></TABLE><TABLE cellSpacing=0 cellPadding=2 width="100%" border=0 xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:user=""><TBODY><TR><TD height=14></TD></TR><TR><TD class=st-Time vAlign=baseline noWrap>14:30 ET </TD><TD class=storyTitle vAlign=top>Dow +61, Nasdaq +14, S&P +6.22</TD></TR><TR><TD></TD><TD class=st-Art>[BRIEFING.COM] Buying efforts have tapered off, but the major indices remain comfortably above the unchanged line with leadership from the technology (+0.69%) and health care (+0.90%) sectors underpinning the blue chip averages... To that end, IBM (IBM 81.54, +1.16) and Johnson & Johnson (JNJ 62.90, +0.96) are two of the Dow's top three components today - the other is Boeing (BA 67.22, +0.91), which is outperforming despite a Wall Street Journal article today that raises the possibility of a strike ensuing at the aircraft manufacturer if a proposed contract for the 18,300 member International Association of Machinists and Aerospace Workers union suggests there will be a paring of the company's defined-benefit pension plan... ..NYSE Adv/Dec 1847/1321. ..NASDAQ Adv/Dec 1554/1399. </TD></TR><TR><TD height=14></TD></TR><TR><TD class=st-Time vAlign=baseline noWrap>14:00 ET </TD><TD class=storyTitle vAlign=top>Dow +71, Nasdaq +17, S&P +7.12</TD></TR><TR><TD></TD><TD class=st-Art>[BRIEFING.COM] With energy futures slipping well off their best levels of the day (crude +$0.32 at $66.45/bbl), the market continues to advance in a broad-based campaign... The technology sector (+0.86%) has been the biggest driver of the uptick as leadership from large-cap players like Microsoft (MSFT 27.15, +0.18), Intel (INTC 25.79, +0.38), Cisco (CSCO 17.74, +0.34), Amgen (AMGN 79.84, +1.16) and Sandisk (SNDK 39.44, +2.16) is spilling over to other areas... On a percentage basis, health care (+0.93%) is the biggest mover among the economic sectors and is lending an added source of influential support to the broader market... ..SOX +1.5%. ..Nasdaq 100 +1.0%. ..S&P Midcap 400 +0.5%. ..Russell 2000 +0.8%. ..NYSE Adv/Dec 1767/1402. ..NASDAQ Adv/Dec 1533/1395. </TD></TR><TR><TD height=14></TD></TR><TR><TD class=st-Time vAlign=baseline noWrap>13:30 ET </TD><TD class=storyTitle vAlign=top>Dow +47, Nasdaq +11, S&P +4.65</TD></TR><TR><TD></TD><TD class=st-Art>[BRIEFING.COM] The major indices have moved to their best levels of the day, driven by a further pullback in crude prices... Although crude futures are still up for the session (+$1.17 at $67.30), they are well off the high of $70.80 seen earlier in electronic trading... Other energy futures contracts, like natural gas, unleaded gas, and heating oil, are also well off their highs... The latter has contributed to the uptick in the stock market; all 10 economic sectors are in positive territory now... Moreover, for the first time today we can write that advancers are outpacing decliners at both the NYSE and Nasdaq - albeit by a slim margin... ..NYSE Adv/Dec 1677/1465. ..NASDAQ Adv/Dec 1458/1455. </TD></TR><TR><TD height=14></TD></TR><TR><TD class=st-Time vAlign=baseline noWrap>13:00 ET </TD><TD class=storyTitle vAlign=top>Dow +19, Nasdaq +4, S&P +1.11</TD></TR><TR><TD></TD><TD class=st-Art>[BRIEFING.COM] Market continues to trudge along as conviction on both the buy-side and sell-side is lacking... Outside of the attention being paid to Hurricane Katrina, the lack of conviction in the equity market can be attributed to the vacation factor as many participants are either out of the office, or are thinking about being out of the office, for the upcoming Labor Day weekend.... Additionally, participants may be sitting on their wallets deliberately knowing that the influential employment report (for August) is due to be released on Friday... expects to hear that 215K positions were added to nonfarm payrolls while the market is expecting an increase of 190K... ..NYSE Adv/Dec 1409/1707. ..NASDAQ Adv/Dec 1248/1623. </TD></TR><TR><TD height=14></TD></TR><TR><TD class=st-Time vAlign=baseline noWrap>12:30 ET </TD><TD class=storyTitle vAlign=top>Dow +23, Nasdaq +5, S&P +1.54</TD></TR><TR><TD></TD><TD class=st-Art>[BRIEFING.COM] After some early choppiness the market has settled into a narrow trading range... Although the majority of economic sectors (6 out of 10) are in positive territory, none are flexing their muscle to any convincing degree... Separately, the Treasury market has held a positive bid for most of the session as the spike in oil prices has fed some buying interest predicated on the notion that higher prices could restrain economic growth, and thereby, help curtail the Fed's tightening activities... There's not a lot of conviction behind that trade, though, as volume is quite light in the Treasury market... The 10-yr note is currently +6/32 at 4.16%... ..NYSE Adv/Dec 1372/1709. ..NASDAQ Adv/Dec 1245/1614. </TD></TR><TR><TD height=14></TD></TR><TR><TD class=st-Time vAlign=baseline noWrap>12:00 ET </TD><TD class=storyTitle vAlign=top>Dow +18, Nasdaq +3, S&P +1.13</TD></TR><TR><TD></TD><TD class=st-Art>[BRIEFING.COM] Hurricane Katrina hit the Gulf Coast near New Orleans as a Category 4 storm on the Saffir-Simpson scale... In its wake Katrina left a torrent of concerns about the production capabilities of offshore oil rigs that drove crude prices to a record high of $70.80/bbl in electronic trading... In turn, price spikes were seen across the energy complex on related fears that the storm would do severe damage to refinining facilities... Not surprisingly, equity futures were bogged down by the spike in energy prices and pointed to a lower open for the cash market, which is exactly what we got... The early losses, however, were modest in scope as a drop in long-term interest rates, gains in the energy stocks, and pockets of strength in the home improvement retail, software, and semiconductor industry groups served as an offsetting influence... Additionally, some of the concerns related to oil supply disruptions were mitigated when it was reported the Dept. of Energy would release oil from the Strategic Petroleum Reserve in the event it was deemed necessary following damage assessments... That indication took some steam out of crude futures, which are now up just $1.72 at $67.85/bbl... As oil prices moved off their highs, stocks started to rebound and are showing modest gains at mid-day... Energy (+0.51%) continues to be the best-performing sector, but it would be remiss of us not to add that it was up 1.90% at its high earlier in the session... The fading sponsorship from the energy sector, though, hasn't derailed the market as there has been a commensurate pickup in buying activity across the other nine economic sectors... At the moment, telecom services (-0.30%), industrials (-0.28%), and consumer discretionary (-0.13%) are the only sectors in the red... Areas of relative strength include health care (+0.30%), consumer staples (+0.21%), and utilities (+0.23%), which are mostly defensive in nature, but information technology (+0.19%) is faring okay thanks to advances in the software and semiconductor groups... ..NYSE Adv/Dec 1321/1724. ..NASDAQ Adv/Dec 1162/1643. </TD></TR></TBODY></TABLE>
Hitman26 said:
I thought the market would be down huge.

Crazy stock market.

It was too obvious that today's closing #s would be down, just like is was obvious the Colts were too much for Namath & his Jets to handle:wow
Home Depot and lows already being bought

NEW YORK - Hurricane Katrina is wreaking havoc in the southeast, but Wall Street reacted with behavior that has been entirely predictable for two decades or more.

Home Depot (nyse: HD - news - people ), the Dow's best performer, jumped nearly 2% to $40.54 because of all the shoppers that will hit its stores all at once for equipment to repair damages. Lowe's wasn't far behind, with shares also up 2% to $64.60.

When a hurricane comes, count on large-cap investors to snap up stocks of not only home improvement companies, but also discount retailers (everyone's running for flashlights and other supplies and will be replacing losses from flood damage), home builders (all those houses need to be rebuilt) and oil companies (damage to refineries down in the Gulf sparks supply worries and kicks up prices).

That's probably why shares of Wal-Mart Stores (nyse: WMT - news - people ), Target (nyse: TGT - news - people ), Chevron (nyse: CVX - news - people ) and Halliburton Holding (nyse: HAL - news - people ) were all trading higher. Major homebuilders like Lennar and D.R. Horton were actually lower thanks to generally bearish comments on the real estate market by fed chairman Alan Greenspan.

Property and casualty insurers become the first stocks to dump as traders calculate the damage to those companies' profits in the wake of billions in claims to repair damage from the storm. Allstate (nyse: ALL - news - people ), for example, fell $1.09 to $57.18 amid reports that Katrina could cost the industry more than $25 billion in claims.

An analysis of the effect of hurricanes on a sample of retail, energy, home building and insurance stocks shows that shares within those industries have behaved in line with the traditional strategies that were again apparent by today's market action.

Since 1992, the year Hurricane Andrew ravaged Florida with $26.5 billion in damage, big companies in energy, home improvement products, cheap retail goods and home building have out-performed the S&P 500 70% of the time. Target and Home Depot outperformed the market last year when four storms--Charlie, Ivan, Jeanne and Frances--walloped the U.S. with $45 billion of damage,as they did in earlier hurricane years, such as 1989, which saw $7 billion in damage from Hurricane Hugo, and 1992. Just as often, big insurers like Allstate and AIG (nyse: AIG - news - people ) have lagged.

Still, money manager Fred Burke of Johnston Lennon says insurance companies are generally not hurt as badly as they have been in the past, thanks to intricate reinsurance deals.

"They usually lay [the risks] off on a third party, usually in Bermuda or some such place," Burke said. "Sometimes it takes six months to really know who got hurt."

His bigger concerns are utilities, which could suffer from required replacement costs in some areas, and exploration companies like Apache (nyse: APA - news - people ), which had to shut down production in the Gulf.


EOG Dedicated
How would you like to "move" for Warren Buffet or Kerkorian? LOL

Guys- What would you rather do? Bet to win a dime on the Yankees or Buy a 1000 shares of Home Depot with a limit sell of a $1 per share profit and a Sell stop of $1 below the purchase price?

the hurricane is a 1 day event for news. From now on its recovery etc. So with a market that was down last week and a sharp down opening it had no place togo but up. for those of you who look for a short term indicator the first 5 minutes 9.30-9.35 e.s.t. can be one end of the daily range. so once the market started up it was a high percetnage play that it would stay up. something you might watch with the futures every morning.
I am no expert in this field but I believe we are in an overall BULL MARKET and I do not recommend shorting the DOW...

There may be some "correction" going on lately, but overall, it's been climbing...

No reason for me to think it won't continue...

My 2 cents...