Market Summary 10-3-07

Index	Last	Change	% Chg
DJ Industrials	13968.05	-79.26	-0.56
Nasdaq Composite	2729.43	-17.68	-0.64
S&P 500	1539.59	-7.04	-0.46
DJ Wilshire 5K	15517.4	-77.71	-0.5
Nasdaq 100	2103.01	-12.88	-0.61
Issues	NYSE	Nasdaq	Amex
Advances	1,233	1,137	479
Declines	2,068	1,807	684
Unchanged	111	142	91
New Highs	85	114	47
New Lows	24	35	15
Futures	Last	Chg
Crude Oil	79.83	-0.11
Natural Gas	7.265	-0.012
Gold, Dec.	730.2	-5.5

Market Summary 10-2-07

Index	Last	Change	% Chg
DJ Industrials	14047.31	-40.24	-0.29
Nasdaq	2747.11	6.12	0.22
S&P 500	1546.63	-0.41	-0.03
DJ Wilshire 5000	15595.11	19.35	0.12
Russell 2000	831.97	7.23	0.88
Nasdaq 100	2115.89	-1.08	-0.05
Issues	NYSE	Nasdaq	Amex
Advancing	1,922	1,754	638
Declining	1,375	1,209	542
Unchanged	113	134	98
Total	3,410	3,097	1,278
New 52 Week High	191	162	71
New 52 Week Low	17	35	16
	Last	Chg	Settle
Crude Oil	80.24	0.19	80.05
Gold, Dec.	742.2	5.9	736.3

Market Summary: Mon. Oct. 1, 2007

Index	Last	Change	% Chg
DJ Industrials	14087.55	191.92	1.38
Nasdaq	2740.99	39.49	1.46
S&P 500	1547.04	20.29	1.33
DJ Wilshire 5000	15575.76	213.74	1.39
Russell 2000	824.74	19.29	2.39
Nasdaq 100	2116.97	25.86	1.24
Issues	NYSE	Nasdaq	Amex
Advancing	2,511	2,134	768
Declining	809	861	434
Unchanged	76	120	77
Total	3,396	3,115	1,279
New 52 Wk High	288	159	113
New 52 Wk Low	32	55	25
Commodity	Last	Chg
Crude Oil	80.07	-0.17
Natural Gas	7.11	0.06
Gold, Dec.	745.6	-8.5

Market Summary 9-28-07

Index	Last	Change	% Chg
DJ Industrials	13895.63	-17.31	-0.12%
Nasdaq	2701.5	-8.09	-0.30%
S&P 500	1526.75	-4.63	-0.30%
DJ Wilshire 5000	15362.02	-49.4	-0.32%
Russell 2000	805.45	-8.56	-1.05%
Nasdaq 100	2091.11	-5.28	-0.25%
Issues	NYSE	Nasdaq	Amex
Advances	1,487	1,213	581
Declines	1,831	1,773	608
Unchanged	96	114	111
New Highs	173	107	77
New Lows	43	66	17
Commodity	Last
Oil	81.66
Gold	742.8

Market Summary: 9-27-07

Index	Last	Change	% Chg
DJ Industrials	13912.94	34.79	0.25
Nasdaq	2709.59	10.56	0.39
S&P 500	1531.38	5.96	0.39
DJ Wilshire 5000	15411.42	73.39	0.48
Russell 2000	814.01	4.89	0.6
Nasdaq 100	2096.39	8.01	0.38
Issues	NYSE	Nasdaq	Amex
Advances	2,216	1,727	815
Declines	1,079	1,231	375
Unchanged	101	117	100
New Highs	205	118	82
New Lows	46	68	19
Commodity	Last	Change
Crude Oil	82.99	2.69
Natural Gas	6.924	-0.122
Gold, Dec.	741.1	5.6

Market Summary: Wed. Sept. 26, 2007

Index	Close	Change	Chg%
DJ Industrials	13878.15	99.5	0.72%
Nasdaq	2699.03	15.58	0.58%
S&P 500	1525.42	8.21	0.54%
Russell 2000	809.12	6.12	0.76%
Nasdaq 100	2088.38	11.55	0.56%
Commodity	Last
Crude Oil	80.7
Natural Gas, Nov	7.722
Gold, Dec	740.6
Issues	NYSE	Nasdaq	Amex
Advances	2,165	1,784	740
Declines	1,152	1,203	439
Unchanged	96	122	103
New Highs	169	117	61
New Lows	59	67	28

Comments:
All the major averages are closing in on their July 19 highs with the DOW less than 1% away as well as the Nasdaq. The S&P 500 is a bit further away from its high due to the drag of financials.
I believe that the market is reaching a critical turning point. Will it power up and beyond the former highs or will it touch them and then pull back? I am betting on the latter. This market has run up WAY too fast.

On Fast Money tonight Carl Icahn was interviewed and he said "this market is sort of on a precipice and could go either way".

We shall soon find out. October has not been the kindest months to stocks.

Market Summary: Tuesday 9-25-07

Index	Close	Change	Change %
DJ Industrials	13778.65	19.59	0.14
Nasdaq	2683.45	15.50	0.58
S&P 500	1517.21	-0.52	-0.03
Russell 2000	803.00	-2.80	-0.35
Nasdaq 100	2076.83	19.58	0.95

	Last	Chg
Crude Oil	79.35	-1.60
Natural Gas	7.099	-0.069
Gold, Dec	738.5	-0.8

Issues	NYSE	Nasdaq	Amex
Advances	1,339	1,309	480
Declines	1,936	1,666	701
Unchanged	112	118	108
New Highs	79	64	33
New Lows	102	88	28

Like yesterday, the Nazz-100 is the buoy for the market with large cap tech holding down the fort.

From Briefing.com:

Strong: health care technology; education services; IT consulting; multi-sector holdings; drug retail; application software; fertilizer & agricultural chemicals; aerospace & defense; computer hardware; communication equipment

Weak: general merchandise; home furnishings; home improvement retail; office REITs; dept. stores; oil refining; retail REITs; real estate mgmt. development; household appliances; industrial REITs

News:
Disappointing earnings from Lennar and Lowe's
Target cuts September same store sales forecast
GM-UAW strike overhang
Oil prices drop below $80
Existing home sales in August fell 4.3%
Consumer confidence index dropped to 99.8 from 105.6 in August

Strength in the technology sector (+1.0%) acted as an effective offset that limited the broader market's losses. Once again, participants were favoring large-cap issues like Apple (AAPL 153.18, +4.90), Research In Motion (RIMM 96.82, +2.32), Microsoft (MSFT 29.56, +0.48) and Cisco (CSCO 32.44, +0.56) given their favorable growth outlook.

The Nasdaq 100 ended the session up 1.0%.

Outside of the technology and consumer discretionary sectors, there weren't any other 1.0% movers. The financial sector (-0.3%), though, was a notable laggard as concerns about the economic environment and broad-based weakness in the REIT stocks weighed on its performance.

Market Summary

Interesting that Nazz was down but the N-100 was up. Big cap tech leading the way? MSFT, AAPL and GOOG pulled the N-100 above the Nazz I think.

Today was a good day for shorting. Homebuilders, Russell 2K.

Index	Close	Change	Change %
DOW	13759.06	-61.13	-0.44%
Nasdaq	2667.95	-3.27	-0.12%
S&P 500	1517.73	-8.02	-0.53%
Russell 2000	805.80	-7.31	-0.90%
Nasdaq 100	2057.25	7.77	0.38%

Commodities

Oil	80.66	-.96
Nat Gas	7.205	.215
Gold	737.6	-1.3

Issues	NYSE	Nasdaq	Amex
Advances	1,274	1,145	496
Declines	2,019	1,853	696
Unchanged	102	119	92
New Highs	147	112	57
New Lows	52	59	19

From Briefing.com

Strong: computer storage & peripherals; home furnishings; industrial REITs; residential REITs; retail REITs; office REITs; gold; Internet retail

Weak: consumer electronics; homebuilding; general merchandise; auto parts and equipment; IT consulting; general merchandise; airlines; motorcycle mfg; thrifts & mortgage; trucking

News:
UAW strikes after GM fails to meet 11:00 ET deadline
No earnings or economic releases
Standard Pacific eliminates quarterly cash dividend; homebuilders weak
Microsoft up ahead of tonight's "Halo 3" release

BLOOMBERG'S TOP STORIES

Goldman Sees `Bottom' as Besieged Wall Street Can't Yet Concur Goldman Sachs Group Inc., the world's biggest and most profitable securities firm, has good news for its competitors: The worst credit-market shakeout since 1998 is abating.

Fed to Cut Rates Again Before January, History Shows (Update3) Government bond traders, who predicted six of the last seven recessions, say the Federal Reserve will lower interest rates again before the end of the year as the economy comes to a standstill.

Fed's Rate Cut May Give Little Relief to Homeowners (Update1) Americans may be disappointed that the Federal Reserve's interest rate cut won't translate into lower monthly mortgage payments and a revival of the housing market.

Jim Rogers Sees `Skyrocketing' Prices for Commodities (Update3) The Federal Reserve's interest rate cut was a mistake that will prompt ``skyrocketing'' agricultural prices worldwide, exacerbate a decline in the dollar and quicken inflation, investor Jim Rogers said.

BNP, UBS, Pounded by Forecast, Are Proving Prescient (Update3) The world's three biggest currency traders advised investors at the start of the year to bet against the British pound when it traded at $1.9588. Instead, it climbed to a 26-year high of $2.0654 on July 24, a gain of 5.4 percent.

Banks Reduce Backlog of Unsold Debt to $370 Billion (Update4) Banks reduced the backlog of unsold corporate debt by 2 percent in the past two weeks to $370 billion as investor demand for leveraged loans and bonds improved, Bank of America Corp. analysts said.

Wheat Farmers Signal Price Drop With Increased Sowing (Correct) Farmers are sowing the seeds for an end to the biggest rally in wheat since the Soviet Union cornered the U.S. market in the 1970s.

Ahmadinejad Says Palestinians Pay Price for Holocaust (Update1) Iranian President Mahmoud Ahmadinejad said the Palestinian people are paying for the Holocaust with the violence in the Middle East and asked why varying views of the genocide aren't allowed to be expressed.

Brown May Hurt Investors to Damp Northern Rock Anger (Update1) Prime Minister Gordon Brown's government, which insured the deposits of Northern Rock Plc customers to stop a run on the bank, seems willing to sacrifice its investors and executives to lawmakers looking for someone to blame.

Insider-Trading Case Against Wongs in Dow Jones Strains SEC The U.S. Securities and Exchange Commission's complaint in May against a Hong Kong couple for insider trading of Dow Jones & Co. stock looked like an open- and-shut case.