The Market Vu Morning Report for 11/5/2003
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>Our new web site is almost completed. We are set to go for interactive chart posting today. Instant messaging from the floor of the S&P pit along with Bond updates and chart postings should be rolled out shortly..
>Interact with our free PalTalk Mkt BoT! Get up-to-the-minute specialized trading data on stocks and other assets. Type #HELP for a list of commands. A new function will give you earnings alerts and let you know the upcoming earnings date . Also Bond and Gold futures have been added.
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>***On Oct.20 we started providing listeners "live" conference calls. This is playing off very well in after hours trading.
There is great opportunities pre and after market. Stay with the show to see how some of the VU TEAM plays these earnings.
>The VU Team has put together a swing list of high ranking stocks that are forming great patterns. These are the stocks we feel will lead us in the next leg up. Ask about them on the show.
>We have 1 pair trade>>Short INTC& longTXN(1/2 share OF INTC/1 share OF TXN)
> On Tuesday we added to our HMY trade as the $XAU found supp on the 20sma.
>There are 2 Econ Reports at 10est. ISM SERVICES and FACTORY ORDERS
>We will watch CSCO as earnings come out after the close on Wednesday. Look for EXTR,PMCS,AMCC,TLAB,PWER to follow. QCOM also after the close. We have been talking about Fuel cell conference THIS week. Mon traders taking a position in various alt fuel stock and adding to on Wensday.. FCEL being the most popular. We will start to unload these. **As this report is being put together news came out on FCEL. FuelCell Energy and Enbridge sign distribution agreement
Expectations remain set for a lower open, as the futures market continues to trade below fair value.
FUTURES VOICE MORNING CALL
10:00 ISM Services, forecast 63.4 (prior 63.3)
10:00 Factory Orders, forecast 0.6% (prior -0.8%)
Value Area: 1051.30 - 1054.30
Key MAs: 1047.20, 1041.70
Resistance:
As I write this this morning,we are currently trading right at a key level of 1050. If we open below that look for that area to be resistance, support if we open above. 1054.00 - 1054.50 is our first major resistance above that. Then 1056.50 and 1058. Major at 1060.50, then 1066.20, then a major 1068.50.
Support:
Below the 1050 area, we have 1046.50, then a major area at 1041.50-1042.00. A major below that at 1039, then 1036.50 and 1032. Major at 1027.50.
Note that going into the open this morning, we have some bullish activity in bonds and 10 year notes. This could induce weakness on the indicies.
We will provide numbers intra-day as Keith is working on the instant mesg. from the floor of the CME.
>BUTLER spoke about the deep discounted Emini and futures commissions for Market VU Show listeners. Included is access to all the popular trading platforms and intra day commentary along with key floor numbers and updates from the S&P pit in Chicago. For information pm eBUTLER on PalTalk or call KwikTrading at 800.467.KWIK(5945) and mention the showKwikTrading
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