[richmtn]

We've moved Night Stool back over to the main board page for easier navigation. Please feel free to add what you want onto the thread. Only one rule on Night Stool.
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We don't know and neither do they. Doc


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[richmtn]

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Don't forget about Doc's great resource center.

[richmtn]

From Mayor Mike
Bloomberg News

Economies
Tue, 03 Dec 2002, 9:18pm EST

Australia Economy Grows 0.9 Percent in Third Quarter, Meeting Expectations
Australia's economic growth accelerated in the third quarter, fueled by stronger consumer spending, rising business investment and a building boom. More...

Australia's Central Bank Leaves Interest Rate Unchanged for a Sixth Month
Australia's central bank kept its benchmark interest rate unchanged for a sixth month as slowing global growth reduced exports and a worsening drought cuts crop production to 20-year lows. More...

U.S. Job-Cut Announcements Declined to 157,508 in November, Survey Shows
U.S. employers announced plans to eliminate 157,508 jobs in November, the third-highest level so far this year and a signal that companies remain focused on cutting costs. More...

ECB's Duisenberg Sees Inflation Slowing, Builds Case for Interest Rate Cut
European Central Bank President Wim Duisenberg predicted inflation will slow as the region's economy barely grows, signaling he will support a cut in interest rates as soon as Thursday. More...

Indian Food, Fuel Subsidies Surge, Raising Concern Over the Budget Deficit
India's food and fuel subsidy bill surged in the first six months of this financial year, raising concern that such payments may choke the government's efforts to narrow the gap between revenue and spending. More...

Singapore November Manufacturing Expanded for Ninth Month on Electronics
Singapore's manufacturing expanded a ninth month in November after electronics orders bounced back, suggesting U.S. demand for the island's goods may be recovering from their slump in October. More...

Japanese Government Should Take Control of Some Banks, S&P Analyst Says
Japan's government should take over some of the country's banks to force the industry to cut growing amounts of bad loans, a Standard & Poor's analyst said. More...

ECB President Duisenberg Doesn't Want Extra Time at ECB, Prefers `Fishing'
European Central Bank President Wim Duisenberg said he won't stay in his job any longer than needed to ensure a ``smooth transition'' to his successor next year. More...

European Service Industries Probably Expanded in November, Analysts Say
European airlines, banks and other service industries probably expanded for a second month in November, analysts said in advance of an industry survey. More...

Philippine Exports Gain at Slowest Pace Since March as Sales to U.S. Slide
Philippine exports rose in October at the slowest pace since March, when overseas sales fell for a 14th month, as sales to the U.S., the country's biggest overseas market, fell for the first time since June. More...

Stories


Top Financial News
Tue, 03 Dec 2002, 9:18pm EST

Disney Cuts 2002 Profit on `Treasure Planet' Film; SEC Probing Directors
Walt Disney Co. reduced its previously reported fiscal 2002 earnings after ticket sales for its film ``Treasure Planet'' were lower than expected. The company said federal regulators are investigating its disclosures about outside directors whose relatives had ties to the company. More...

Honda, BMW Lead Market Share Gains in U.S. for Asian, European Carmakers
Asian and European automakers grabbed two-fifths of the U.S. market for the first time in 15 months as Honda Motor Co. sold a record number of cars in November and Bayerische Motoren Werke AG sales rose a tenth. More...

Asian Stocks Slide, Led by Sony, Samsung Electronics, NEC; Australia Drops
Asian stocks slid, with the Nikkei 225 Stock Average set for its biggest drop in two weeks. Sony Corp. and Samsung Electronics Co. fell after Hewlett-Packard Co. cut its sales forecast because of slowing corporate spending. More...

Australia Economy Accelerates in Third Quarter as Consumer Spending Rises
Australia's economic growth accelerated in the third quarter, fueled by stronger consumer spending, rising business investment and a building boom. More...

AMP Plans to Eliminate Extra 2,000 Jobs as Insurer Seeks to Cut U.K. Costs
AMP Ltd. will fire 2,000 workers in the U.K. and Asia, taking global job cuts to more than 40 percent of its workforce since June, as Australia's biggest life insurer tries to stem a two-year slide in earnings. More...

Oei's NatSteel Takeover Offer Rejected by Regulator Over Funding Proposal
Oei Hong Leong, who amassed a 29.3 percent stake in NatSteel Ltd., had his offer for Singapore's biggest steelmaker rejected by regulators on funding concerns, increasing the chance a rival bidder will succeed. More...

Hewlett-Packard's Fiorina Cuts 2003 Sales Growth Estimate on Slack Demand
Hewlett-Packard Co., the world's second-biggest computer maker, said sales this fiscal year may rise less than it had forecast because companies remain reluctant to boost spending on computer-related technology. More...

Indonesia Urges Goldman, UBS to Cut Fees for Role in PT Bank Danamon Sale
Indonesia's government is still haggling with Goldman Sachs Group Inc. and UBS Warburg over fees for a planned sale of a stake in PT Bank Danamon, a week after missing its latest deadline to name an adviser. More...

Crude Oil Falls After Report of First U.S. Inventory Gain in Four Weeks
Crude oil in New York fell for the first time in more than a week after the American Petroleum Institute reported the first increase in U.S. inventories in four weeks. More...

Commerzbank to Stop Lending in Japan, Joining Retreat as Economy Slumps
Commerzbank AG, Germany's fourth- largest bank, will stop lending to customers in Japan, retreating from an economy that has been in a slump for much of the past decade. More...

NTT DoCoMo Turns to Europe for Growth From Its I-mode Wireless Web Service
NTT DoCoMo Inc. is turning to Europe as the market with the greatest potential to expand its most popular Internet service because carriers there are more likely to embrace it than those in Asia, a DoCoMo executive said. More...

Commonwealth Bank, National Australia Stock May Drop More as Profit Stalls
Commonwealth Bank of Australia told shareholders on Oct. 31 what they haven't heard for a decade: profit growth would be ``modest.'' Its shares plunged, posting the biggest one-day drop in 2 1/2 years. More...

Stories


Technology News
Tue, 03 Dec 2002, 9:18pm EST

Disney Cuts 2002 Profit on `Treasure Planet' Film; SEC Probing Directors
Walt Disney Co. reduced its previously reported fiscal 2002 earnings after ticket sales for its film ``Treasure Planet'' were lower than expected. The company said federal regulators are investigating its disclosures about outside directors whose relatives had ties to the company. More...

Hewlett-Packard's Fiorina Cuts 2003 Sales Growth Estimate on Slack Demand
Hewlett-Packard Co., the world's second-biggest computer maker, said sales this fiscal year may rise less than it had forecast because companies remain reluctant to boost spending on computer-related technology. More...

NTT DoCoMo Turns to Europe for Growth From Its I-mode Wireless Web Service
NTT DoCoMo Inc. is turning to Europe as the market with the greatest potential to expand its most popular Internet service because carriers there are more likely to embrace it than those in Asia, a DoCoMo executive said. More...

Matsushita, Samsung, Other Handset Makers Fall on Nokia Market Forecast
Shares of Samsung Electronics Co., Matsushita Electric Industrial Co. and other mobile-phone makers in Asia fell after Nokia Oyj, the world's biggest producer of handsets, said sales growth next year might be at the lower end of its forecast. More...

MobileOne Asia Shares Drop on Singapore Trading Debut; Most Active Stock
MobileOne Asia Ltd. shares fell as much as 3 percent from the price offered to institutional investors in their trading debut, with shares in the country's No. 2 cellular phone company the most actively traded stock. More...

Elpida Wants to Spend $563 Million Next Fiscal Year to Raise Production
Elpida Memory Inc., the memory- chip venture between NEC Corp. and Hitachi Ltd., aims to spend 70 billion yen ($563 million) next fiscal year to expand production capacity so it is better positioned to compete, President Yukio Sakamoto said. More...

Vivendi to Buy BT's Cegetel Stake for $4 Billion to Thwart Vodafone Bid
Vivendi Universal SA will pay 4 billion euros ($4 billion) to increase its stake in Cegetel SA, tightening its grip on France's second-largest phone company and thwarting a bid by Vodafone Group Plc. More...

NTT Communications to Halve Jobs, Cut Costs at Verio by End of the Month
Nippon Telegraph & Telephone Corp.'s international phone service unit NTT Communications Corp. will halve jobs and cut spending at Verio Inc., its U.S. subsidiary, on schedule by the end of this month. More...

Singapore Telecom Says It Won $198 Million in New Contracts Since April
Singapore Telecommunications Ltd., Southeast Asia's No. 1 phone company, said it has won new contracts from corporate customers worth more than S$350 million ($198 million) since April. More...

WorldCom's MCI Raises Prices for Consumers a Second Time After Sales Fell
WorldCom Inc., the second-biggest U.S. long-distance telephone provider, is raising some rates at its MCI residential unit for the second time in two weeks after the bankrupt company's sales fell. More...

Stories

[richmtn]

I promised to try to find out where the money came from for this rally by looking at the COT reports. Unfortunately getting this together on yet another board has taken too much time. I'll try again in the next day or two.

*************************************



NOVEMBER 26, 2002

SPECIAL REPORT: CHIPMAKING'S UNEVEN RECOVERY

For Chipmakers, Less of Moore?
The industry trade group's latest forecast contains a dire implication: The glory days are over, especially for smaller outfits

Nothing sums up semiconductors better than Moore's Law -- the dictum that the computing power of chips will double every 18 months or so, at no increase in cost. Gordon E. Moore first laid down his law in 1965, eight years after he co-founded Fairchild Semiconductor and three years before he helped create Intel.
...

From now on, Sanders said, you can kiss that 16.5% annual growth figure good-bye. Instead, he predicted, "average annual growth rates in the range of 8% to 10% will be the norm." Growth of that magnitude is certainly nothing to sneeze at -- for many industries, 9% is only a dream. But it means the chip crowd is slashing its expectations nearly in half -- maybe more, considering that SIA forecasts have usually been a bit optimistic.

Story



Processing the Changes in Chips
Slower growth, monster fabs, and less cyclical volatility mean a whole new ball game for the industry's players, large and small alike

Intel: A Not-So-Fab Future?
Betting big on production capacity has kept the chipmaker No. 1, but analysts aren't sure if the strategy still makes sense

TI's Strategy in the Slump: "Play Offense"
CEO Tom Enigbous is keeping the chipmaker's R&D at boom levels as "next year's -- or even 10-year -- revenues depend greatly" on it

Qualcomm's Cutting-Edge Strategy
"Our CDMA technology...has been driving sales," explains confident co-founder Irwin Jacobs, who sees a golden world of profits ahead

For Chipmakers, Less of Moore?
The industry trade group's latest forecast contains a dire implication: The glory days are over, especially for smaller outfits

Technology Review

[richmtn]

Turkey Offers Limited Aid to U.S. for Possible Strike on Iraq
By MICHAEL R. GORDON 4:36 PM ET
The new Turkish government said today that it would not allow the U.S. to station large numbers of ground troops in its territory for a potential attack on Iraq.

U.N. Team Visits Palace in Iraq
By JOHN F. BURNS with TERENCE NEILAN 2:51 PM ET
U.N. weapons inspectors searched one of Saddam Hussein's palaces today, but remained silent on their findings.
• Bush Continues New Push on Disarming Iraq
• U.N. Debate on Oil-for-Food Program
• Video: John F. Burns on NewsHour

Bush Restoring Cash Bonuses for Appointees
By ERIC LICHTBLAU
The White House will make several thousand political appointees eligible for lucrative cash bonuses, abandoning a Clinton-era prohibition.

AOL Shares Fall After It Offers Dim Revenue Forecast for 2003
By DAVID D. KIRKPATRICK 4:37 PM ET
While announcing a radical strategy shift, AOL Time Warner said today that its internet advertising sales would drop.
• Nokia and AOL Send Stocks Lower



Doug Mills/The New York Times
Saudi Response to Critics
Adel al-Jubeir, a top Saudi official, officially denounced today any suggestions that his nation had been lax in combating terrorism. Go to Article

INTERNATIONAL
Cairo Court Frees Rights Activist

WASHINGTON
Seeking One More G.O.P. Senator, Bush Visits Louisiana

WASHINGTON
Campaign Law Set for Big Test

EDITORIALS/OP-ED
• Krugman: Hey, Lucky Duckies!
• Kristof: Will China Blindside the West?


BUSINESS

G.M. and Ford Report Drops in November Sales

Stocks Fall Following Slumps by Nokia and AOL

Net Shopping Begins Surge for Holidays


NATIONAL

For Boston Archdiocese, Bankruptcy Would Have Drawbacks

Texas Death Row Appeals Lawyers Criticized

Union Head Cites Secret Report in Quitting Insurer


WASHINGTON

Supreme Court to Revisit Colleges' Diversity Efforts

Industry Seeking Rewards From G.O.P.-Led Congress

Nevada States Case Against Waste Dump in Mountain


INTERNATIONAL

U.S. Says Evidence Links Attack in Kenya With Qaeda Operation

Israeli Troops Shoot at Taxi, Killing Arab Woman, 95

The Allies: U.S. Presses Turkey's Case on Europe and Cyprus Issues


NEW YORK REGION

Deadlock Ends on Tightening D.W.I. Laws

A Widening Inquiry Tarnishes Giuliani's Jail Legacy

NY Times Front Page

[richmtn]

Hey, Lucky Duckies!
By PAUL KRUGMAN


Carping critics of the conservative movement have been known to say that its economic program consists of little more than tax cuts, tax cuts and more tax cuts. I may even have said that myself. If so, I apologize. Emboldened by the midterm election, key conservative ideologues have now declared their support for tax increases — but only for people with low incomes.

The public debut of this idea came, as such things often do, on the editorial page of The Wall Street Journal. The page's editors, it seems, are upset that some low-income people pay little or nothing in income taxes. Not, mind you, because of the lost revenue, but because these "lucky duckies" — The Journal's term, not mine — might not be feeling a proper hatred for the government.

That should engender some hatred

[richmtn]

Quote

author=Hoodwinked

Rich here is one astro view

BEGINNING DECEMBER 2, 2002

Once again, most of the world stock indices continued their multi-week rallies into the end of last week. Furthermore, they continued rallying past the Venus direct date, as expected. And now we come into a week in which several Jupiter and Sagittarius signatures are present, while at the same time the tense Mars in Scorpio transit begins.


Besides Mars entering Scorpio on December 1, the other outstanding signature in effect this coming week is the new moon, solar eclipse in Sagittarius, on Wednesday. On this same day, Jupiter will turn stationary retrograde. Look for this combination to correlate with large price moves, especially upwards. Not only in stocks, but big moves may be noted in Silver, Treasury Bonds and Notes, and Crude Oil.

http://www.mmacycles.com/artweek.htm

I am expecting huge Mundane changes to begin to unfold with the 12/04/02 eclipse. I will post it on LOB tomorrow. Waiting for a better feel for the chart

I hope those changes are a reality check for Mr. Market.

[richmtn]

This interview with Carl Swenlin, founder of DecisionPoint.com, was conducted by Ike Iossif of Aegean Capital, Inc.

Interesting Interview. Includes a discussion of government intervention in the markets and it's implications. Are the boyz in effect getting insider information adding insult to injury?
This part begins 14 minutes into the interview on my Windows Media Player.

Carl Swenlin

Some of the great charts used in the interview:



Topping?

[richmtn]

Wow is this thing extended or what. Off the charts bullishness.
This chart compares bullishness against the cash index.

[richmtn]

Gold bounces off the 50% channel and knocks up against the 120 congestion zone. It's a cliffhanger.

Attached image(s)

• 

[richmtn]

Can they dig it?
Gold miners see explorers as industry's salvation

By Thom Calandra, CBS.MarketWatch.com
Last Update: 10:37 AM ET Dec. 3, 2002

SAN FRANCISCO (CBS.MW) - Mining executives and gold investors are nursing hopes that bullion prices will resume their 2002 rise.

If gold's $318-an-ounce price doesn't kick into a higher gear, many in the industry will have to park their growth strategies and enter into cost-cutting mergers and partnerships.

"If the gold price stays at $315, there will be a challenge for everyone but the lowest-cost producers," says Andre Gaumond, chief executive of Virginia Gold Mines (CA:VIA: news, chart, profile), a small Quebec company that has $8 million to explore for new Canadian gold properties next year. View: Gaumond on mining takeovers
...

"The majors are in a bind," says K. Brent Cook, a geologist and exploration analyst for Global Resource Investments Ltd. in Carlsbad, Calif. "Companies like Newmont (NEM: news, chart, profile) and Barrick (ABX: news, chart, profile) and Placer Dome (PDG: news, chart, profile) have to replace reserves, but they're not doing any exploration."

Inside the miners

Does this mean the miners could stagnate while gold rises?
If they hold down physical can they control the miners?
My head hurts.

[sweefraapp]

Jacko on crutches after spider bite

[Drano]

sweefraapp, on Dec 3 2002, 11:03 PM, said:

Jacko on crutches after spider bite

Actually that story about the bandages on his foot being from a spider bite are a little disinformation. He's really having a foot job, to go along with his nose job(s), now that he's got the nose fixed perfectly.