Pick The Dow

[bazanster2]

BG,

Federal Reserve Chairman Ben Bernanke will be giving a speech in
Barcelona, Spain today on the US Economy (9:00 am Eastern).

Futures slightly positive but not a lot of good news in the finanical headlines.
GM is going to close 4 North American Plants, Lehman Brothers may have to raise
4 Billion in Capital, Toll Brothers posted a Quarterly loss of $94 million.
Oil steady above $127 on concerns about whether supplies can keep pace with global demand.
UN chief says food production must rise 50 percent by 2030 to meet increasing demand

Factory Orders 10:00 am(Eastern)
Auto Sales 12:00 am (Eastern)
Truck Sales 12:00 am (Eastern)

After yesterday´s sell-off, we could get a bounce.
However, going with DOWN on Tuesday,

gl,

baz

[Bostongambler]

Down triple digits again.

Nice call Baz.

[Bostongambler]

UP on Hump Day

[bazanster2]

BG,

"Federal Reserve Chairman Ben Bernanke painted a gloomy picture of the economy on Tuesday
but hinted that the central bank was prepared to hold steady on interest rate cuts."

Economic Calender:

ADP Employment.......100,000 jobs better than expected. Good news.
Productivity -Rev. 8:30 am (Eastern).rose slightly faster than expected but labor costs up.
ISM Services 10:00 am (Eastern)...Briefing.com forecasts a bit better than expectations.
Crude Inventories 10:30 am (Eastern)

MACD trending downward below 0.0 and slow and fast divergence widening (negative).
Stochastic just recently inverted and trending downward (Negative).
MACD Histogram well below -0.0 and may have a bit further to fall.
However, then it´s bottoming out, that generally represents a buying good time to buy.
Somewhat of a difficult call today.
Market may continue to focus on Financial sector. Fed´s unlikely to cut rates further
ADP Employment and Productivity rose slightly more than expected but higher Labor costs.
Should get a slightly better an expected ISM report.

Going with DOWN on HUMP day,

gl,

baz

[Bostongambler]

Good call again Baz.


-12 and change.

[Bostongambler]

UP on Thurs.



GO CELTS!!!

[bazanster2]

BG,

Futures in positive. Some good news this morning.

Initial jobless claims decreased by 18,000 to 357,000 in the week that ended May 31,
the lowest level in more than a month.

"better-than-expected same-store sales reports from Wal-Mart and Costco
are providing support for the positive bias."

Going with UP on Thursday,

Laker/Celtics showdown starts tonight.
Should be a BarnBurner.
Leaning towards the Celtics due to Home Court Advantage
and the old adage¨"Defense wins Championships". Boston was #1
Looking for the Series to go 6 or 7.

GO CELTICS!!,

gl,

baz

[Bostongambler]

+213... I'll say it was up.

[Bostongambler]

UP on Friday.

[bazanster2]

BG,

Busy day of Economic Reports:
Intial Claims 375K, slightly higher and expected.
Average Workweek 33.7
Nonfarm Payroll -49.0 Thousand
Unemployement Rate 5.5%, largest surge in 22 years.

Wholesale Inventories 10:00 am (Eastern)
Consumer Credit 3:00 pm (Eastern)

Future down sharply.
Going with DOWN on Friday

Oil rose above $130 a barrel Friday in Asia,
ECB President Jean-Claude Trichet suggested the bank could raise interest rates

Like to try to keep optimistic but not getting very good news from the Housing Market:
Homeowners' portion of equity fell to 46.2 percent, which means the amount of debt tied
up in their homes exceeds the equity they have built up. Lowest level since WWII
447,723 loans, fell into foreclosure during the January-to-March
Delinquency rate jumped to 6.35 percent -- or 2.87 million loans (30 days or more past due).
California, Florida, Nevada and Arizona accounted for 89 percent of the total increase in new home foreclosures.

Nearly 8.5 million homeowners had negative or no equity in their homes at the end of March,
representing more than 16 percent of all homeowners with mortgages.

Estimated that will increase to 12.2 million, or almost one out of every four homeowners, by the end of June.

None of this bodes will for the economy or the Market.
.................................................. ................................
U.S consumes nearly a quarter of the world's oil.

Bonus Coverage:

A Detox Tune-Up for You on Yahoo! Health


Celtics off to a good start.
KG with 13 rebounds.
Lakers just 3 for 14 on 3´s.

gl,

baz

[Bostongambler]

wow...

-268.60 right now

[Bostongambler]

Oil 134

[Bostongambler]

Dow -270

[drunkguy]

Losses in the consumer discretionary sector have been exacerbated by the 5.1% increase in oil prices to $134.30 per barrel that has been driven by a weakening dollar, geopolitical concerns, and a view from Morgan Stanley that prices could hit $150 by July 4.

uh oh

[Bostongambler]

Major sell off

Dow -371

[Bostongambler]

Oil up to 138

[Bostongambler]

Nasdaq biggest drop in 3 months as well

[Bostongambler]

-404.33

[Bostongambler]

Monday will be a crazy day as well.