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IDS World Markets Fri 16th November 07


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this is the morning of buy backs ....

 

http://biz.yahoo.com/ap/071116/cisco_buyback.html?.v=1

 

http://biz.yahoo.com/bizj/071115/1551973.html?.v=1

 

 

 

plus

many more ....

 

Aaron Rents RNT 5 mln shares expands prior plan

Administaff ASF 1 mln shares adds to prior plan

American International Group AIG $8 bln adds to prior plan

Broadcom BRCM $1 bln thru 2008

Electronics for Imaging EFII $100 mln adds to prior plan

First Community Bank FCFL $1.4 mln thru 2008

Hub Group HUBG $75 mln thru 6/30/09

Insight Enterprises NSIT $50 mln

RLI Corp. RLI $200 mln double prior plan

Surmodics SRDX $35 mln prior plan complete

United Community Bancorp UCBA 180,918 shares 5% of outstanding

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qqqq almost back to yesterday's high. 3 day cycle indicators went to buy side from positive divergence in the after hours yesterday. 5 day cycle indicators went to buy side this morning. Both 5 hr and 3 day cycle projections appear to be pointing to 40.45-50.50 area.

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dia is lagging. 5 day cycle indicators just now trying to cross to the buy side but price is hitting resistance at the 3 day cycle MA at 131.84. 5 hr cycle projection of 132 hasn't been hit. no 3 day cycle projection.

 

If the dia begins to show strength, then the market as a whole should try to rally this AM. However, if the DIA falls back and is unable to break the 3 day cycle MA, I'd expect the rally in the Qs and SPYs to fizzle.

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key levels

 

SPY resistance at 8 day cycle MA 146.81. support should be at 5 day cycle MA 146.20, and 3 day at 145.84. Above those levels, up phase is intact. Below them, cycle is rolling over.

 

QQQQ is above the 8 day at 50.22. SHould be support. Key resistance line 50.55. Above 50.22 bullish. Below 5 and 3 day cycle MAs now converging around 50.03, bearish.

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Aussie awakes refreshed and ready for another big trading day, after not setting the alarm.

 

post-837-1195209822_thumb.jpg

 

 

Hmmm. Why that big grin, Aussie? Did something interesting happen in overnight, um, "market" action?

625097[/snapback]

 

 

Nothing you want to hear about, Drano... :rolleyes:

625098[/snapback]

On the contrary, I think we ALL want to hear all about it ! ! ! ! :lol: :lol: :lol:

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