Chains of habit are too light to be felt until they are too heavy to be broken
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We got this mang like taking candy from a baby lets nail some options this week to boss
The Bank of Japan bowed to government pressure and eased monetary policy after an emergency meeting on Monday to try to curb a rise in the yen that is threatening a fragile economic recovery.
But analysts questioned whether the central bank's action would do much to help to stem a rise in the Japanese currency that hurts exports and may delay Japan's exit from deflation.
The BOJ expanded a special funding operation supplying cheap fixed-rate loans to banks, saving more aggressive steps for when there is clearer evidence of an economic slowdown.
After the BOJ called an emergency policy meeting last December the dollar rose around 9 percent against the yen in about a month, and some traders may be looking for the dollar to rebound against the yen this time as well????
aloha any one here?
The yen slipped broadly on Monday as investors braced for possible monetary easing by the Bank of Japan to help curb the yen's strength against the U.S. dollar.
The yen came under pressure after the BOJ called an emergency policy meeting, saying its nine-member board will meet from 0000 GMT. BOJ Governor Shirakawa will hold a news conference at 0530 GMT, the central bank added.
ECONOMIC CALENDAR AUG 30th
5:00AM
EM: EC Economic Sentiment
8:30AM
US: Personal Income and Outlays
CA: IPPI
7:50PM
JP: Industrial Production
JP: Retail Sales
9:30PM
AU: Retail Sales
Beaten-up investors go into September, historically a weak month for stocks, facing key reports on jobs, manufacturing and services.
NYSE traders
AP
If those disappoint, the S&P 500 could breach technical support levels, pushing stocks yet lower. The S&P 500 index has fallen nearly 13 percent since April as investors fret about the chance of a double-dip recession.
But the index has found solid support around the 1,040 level, with a sustained move below that proving tough.
Federal Reserve Chairman Ben Bernanke boosted stocks Friday by signaling the Fed is ready to act if the economy worsens.
But more weakness in upcoming indicators like non-farm payrolls and Institute for Supply Management surveys would intensify fears the economy is sliding back into recession.
"There is this continual trend toward numbers falling short of expectations," said Nick Kalivas, equity analyst at MF Global in Chicago.
"My guess is you'll see some selling come in again this week on these numbers." The non-farm payroll report coming on Friday is expected to show 99,000 jobs were lost in August, swollen by redundancies among temporary census workers, while private sector hires grew by only 42,000.
Both the manufacturing and services sectors are expected to have experienced another slowdown in growth in August.
The ISM manufacturing report is released on Wednesday, followed by the services sector report on Friday.
Attracting Buyers
The S&P 500 tested the 1,040 level twice during the past week, both times ending the day with gains.
The level has consistently attracted buyers over the past 10 months and was significantly breached only once during a brief stint in July.
"Here we are sitting at this important support level, having pulled back 8 percent (on an intraday basis) in three weeks, you potentially set up for a reversal," said Richard Ross, global technical strategist at Auerbach Grayson in New York.
The benchmark Standard & Poor's 500 index finished last week at 1,064 on Friday. If the 1,040 level is breached, the S&P 500 could fall into a lower range around 1,020 to 1,010.
However, the index runs into resistance at its 14-day moving average at 1,076.65, providing only limited scope on the upside. Investor sentiment remains negative.
In the options market, investors bought S&P 500 puts, giving them the right to sell S&P futures at a fixed price, although the most actively traded option on the S&P 500ETF was the $107 call, suggesting some bullish trades ahead of next week.
"Overall investor sentiment in the option market has become very skeptical, with put buying widely exceeding call purchases," said Ryan Detrick, technical senior analyst at Schaeffer's Investment Research in Cincinnati.
The put-to-call ratio, a measure of investor sentiment, was at 0.61 as of Thursday's close compared to a 21-day ratio of 0.59.
Investors will be closely following comments from executives at big industrial companies like General Electric [GE 14.71 0.21 (+1.45%) ] and Boeing [BA 63.16 1.84 (+3%) ] at Morgan Stanley's Global Industrials Unplugged Conference this week.
Major Revenue Estimates
Intel [INTC 18.37 0.19 (+1.05%) ] cut its third-quarter revenue estimates in a surprise on Friday. Although investors shook off the news after an initial fall, bleak outlooks from large corporations at the heart of the economy could rattle investors.
As usual there will be a series of secondary labor market data playing second fiddle ahead of the Friday's jobs number.
ADP's jobs report on Wednesday is expected to show the private sector added 18,000 jobs in August, down from 42,000 in July.
Weekly claims for jobless benefits are tipped to remain solidly elevated on Thursday, edging up to 475,000 compared to 473,000 the week before.
With significant risks on the horizon, many investors may think twice about getting into the market at the start of September, historically the worst performing month for all three major indexes.
That may be especially true given the three-day break next week when U.S. markets shut to observe Labor Day on Monday, Sept. 6.
Scott Marcouiller, chief technical market strategist at Wells Fargo Advisors in St. Louis, said he found it hard to envision a rally in the current environment. "Right now the market is locked into short-term thinking," he said.
Copyright 2010 Reuters.
$$$$ Here we go guys ready for another whip saw week $$$$
ALOHA UNCLE YOU DA MAN TY FOR YOUR SUPPORT AND GREAT ADVICE YOU ARE ALWAYS WILLING TO SHARE
Nasdaq 100 (NDX) First support is at 1765.36. First resistance is at 1793.43. For the NASDAQ 100 Index Tracking Stock
(QQQQ) first support is at $43.46. First resistance is at $44.12. S&P 500 (SPX) First support is at 1046.68. First resistance is at
1063.91. For the Standard and Poor's Depository Receipts (SPY) first support is at $104.97. First resistance is at $106.75. Russell
2000 (RUT) First support is at 588.58. First major resistance is at 612.08 -- the 10-day moving average. For the iShares Trust Russell
2000 Index Fund (IWM) first support is at $58.88. First resistance is at $61.25.
Nasdaq 100 (NDX)
First support is at 1765.36. First resistance is at 1793.43.
For the NASDAQ 100 Index Tracking Stock (QQQQ) first support is at $43.46. First resistance is at $44.12.
S&P 500 (SPX)
First support is at 1046.68. First resistance is at 1063.91.
For the Standard and Poor's Depository Receipts (SPY) first support is at $104.97. First resistance is at $106.75.
Russell 2000 (RUT)
First support is at 588.58. First major resistance is at 612.08 -- the 10-day moving average.
For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $58.88. First resistance is at $61.25.
U.S. consumer sentiment pulled back in late August from earlier in the month but still improved from late July in the face of dismal labor and housing conditions, a private survey released Friday showed.
The modest pickup in consumer mood came after a drop in July to the lowest level since November, according to Thomson Reuters/University of Michigan's Surveys of Consumers.
The survey's final August reading on the overall index of consumer sentiments was 68.9, below the 69.6 earlier this month but above the 67.8 at the end of July.
Analysts had expected a final August figure of 69.6.
U.S. economic growth slowed more sharply than initially thought in the second quarter, held back by the largest increase in imports in 26 years, a government report showed on Friday.
Gross domestic product expanded at a 1.6 percent annual rate, the Commerce Department said, instead of the 2.4 percent pace it had estimated last month.
However, the reading was a touch better than market expectations. Analysts polled by Reuters had forecast GDP, which measures total goods and services output within U.S. borders, revised down to a 1.4 percent growth rate. The economy grew at a 3.7 percent pace in the first three months of the year.
The slackening economic recovery is a major political challenge for the Obama administration and the Democratic Party two months away from crucial mid-term elections that could shift the balance of power in Congress in favor of Republicans.
A Reuters/Ipsos poll this week found Obama's approval rating at 45 percent overtaken for the first time by a 52 percent disapproval rating.
The revised GDP data will likely fuel analysts' concern that slowing growth is putting the economy at growing risk of slipping back into recession. Federal Reserve policymakers were meeting on Friday at their annual retreat in Wyoming to ponder the economy's direction and hear from Fed Chairman Ben Bernanke.
Japan's core consumer prices marked their 17th straight month of annual declines in July in a sign that deflation remains deeply entrenched, boding ill for a fragile economy faced with a strong yen. Japanese policymakers are struggling to put a cap on the surging yen, which hit a 15-year high against the dollar this week and threatens to derail an export-led recovery.
Analysts say the stronger yen and slowing economy may delay Japan's exit from deflation, putting pressure on the Bank of Japan to ease monetary policy further.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
that is classic uncle
GDP
Released on 8/27/2010 8:30:00 AM For Q2p
Prior Prior Consensus Consensus Range
Real GDP - Q/Q change - SAAR 2.4 % 1.3 % 1.0 % to 1.5 %
GDP price index - Q/Q change - SAAR1.8 %1.8 % 1.6 % to 1.8 %
Market Consensus Before Announcement
GDP growth for the second quarter came in at an annualized 2.4 percent for the initial estimate and followed a revised first quarter gain of 3.7 percent. Final sales of domestic product gained an annualized 1.3 percent in the second quarter, following a 1.1 percent rise the prior quarter. However, this measure includes weakness from the widening in net exports. Real final sales to domestic purchasers rose 4.1 percent, compared to a 1.3 percent gain in the first quarter. Economy-wide inflation accelerated in the second quarter as the GDP price index rose an annualized 1.8 percent, following a 1.0 percent in the first quarter. The acceleration in prices was due to the impact from net export components as domestic price inflation actually remained subdued.
When Fed Chairman Ben Bernanke speaks from Jackson Hole, Wyoming on Friday, he must explain what the Federal Reserve's objectives are for the economy, Bank of America Chief Economist Mickey Levy told CNBC Thursday.
"In its recent statements, the Fed didn't explain its actions after modestly changing policy," Levy said. "He (Bernanke) needs to lay out what the Fed's views are on inflation by saying the objective is one to two percent. Implicit in that will be an understanding that it's going to avoid deflation."
The Federal Reserve board is holding its annual symposium in Jackson Hole, where Bernanke will deliver a speech on the economy, and Levy says it's the right time to give the markets a clear picture of what the Fed has in mind.
"If the Fed were to stick to an inflation target and agreement, then the markets would get a better understanding of the Fed's actions," Levy went on to say.
As for unemployment, Levy said there's not much the Fed can do except send out a strong message that it's going to fight both inflation and deflation.
"But there's something else it (the Fed) can do to help investors." Levy added. "Given the disagreements within the FOMC, it would be good if Bernanke identified the areas where the Fed agrees and that will give the markets a better idea of where the Fed is headed and make communication easier."
Levy also said that the US economy is in downward trend but that the probability of a recession is low.
"Certainly we are in a soft patch," Levy said. "But it's similar to patches in every previous expansion. The Fed needs to change policy or revise its economic outlook. But the Fed has to manage the confidence in the economy."
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killing it in the USD/MXN guyz check her out it is sickooooooooo
aloha sis if i,am king then you are queen
U.S. investors are looking for clear signals from Federal Reserve policy makers, who have lately shown signs of disarray, policy analysts said.
"There's just a bunch of wildly different views being presented from both inside and outside of the Fed, and that is confusing markets," The Washington Post quoted Bank of America-Merrill (NYSE:BAC) Lynch economist Ethan Harris as saying.
Fed Chairman Ben Bernanke "needs to overcome this idea that the Fed is paralyzed," he said.
Diane Swonk, chief economist at Mesirow Financial said Bernanke's style of encouraging open debate was "a good thing in general."
However, "It brings confusion to financial markets rather than clarity," she said.
The growing confusion is marked by increasingly vocal dissent within the ranks of the Fed's Open Market Committee. Federal Reserve Bank of St. Louis President James Bullard has said the economy is in danger of slipping into a deflationary trend marked by lower prices, which stalls the economy.
Taking the opposing viewpoint, Kansas City Fed President Thomas Hoenig has said leaving lending rates at historically low levels makes inflation a greater risk than deflation.
Underlying these arguments is the growing belief that the Fed has limited options to re-invigorate a stalled economic recovery.
Observers will be looking for a signs of a clear policy direction during Bernanke's speech at the Fed's annual retreat in Wyoming Friday, the newspaper said.
U.S. markets made modest gains Thursday morning after the Labor Department said first-time unemployment claims fell sharply in the latest weekly report.
The department said there were 31,000 fewer initial claims filed in the week ending Aug. 21, although the four-week rolling average moved up by 3,250 claims to 486,750.
In midmorning trading, the Dow Jones industrial average added 19.37 points, 0.19 percent, to 10,079.43. The Standard & Poor's 500 index rose 0.37 percent, 3.95, to 1,059.28. The Nasdaq composite index rose 0.29 percent, 6.23, to 2,147.77.
The benchmark 10-year Treasury note rose 3/32 to yield 2.529 percent.
The euro rose to $1.2737 from Wednesday's $1.265. Against the yen, the dollar fell to 84.48 yen from Wednesday's 84.71 yen.
In Tokyo, the Nikkei 225 index rose 0.69 percent, 61.09, to 8,906.48.
aloha and good morning pipsters
aloha my braddah good to see you and mahalo for the props
aloha i like to trade the EUR/USD & XAU/USD i also trade stocks and options as well how about you ?
aloha guys nice to meet you
WASSUP EVERYONE GONNA BE GETTING SOME SICK STUFF GOING ON HERE STAY TUNED PLEASE GIVE SOME INPUT ON WHAT YOU MIGHT LIKE TO SEE MAHALO
NICE WORK MANGGGGGGGGGG
ALOHA AND WELCOME TO OUR BOARD ALL ARE WELCOME AND POSTS APPRECIATED NOW LETS GET THIS BAD BOY ROLLIN
keep your eye on the FAS sep 19 call imho
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aloha goodies