daytrade july 14....pre-market

Morning Guys.


DJIA ..........10363.02 146.75 1.44% H10407.82 L10217.55
Nasdaq ......2242.03 43.67 1.99% H2248.16 L2212.97
S&P500 ......1095.34 16.59 1.54% H1099.46 L1080.65
Gold Fut......1212.90 14.20 1.18% H1218.80 L1196.50
Silver Fut.....18.26 0.34 1.9% H18.36 L17.87
Brent Crude Fut...77.11 2.16 2.88% H77.37 L74.25
Natural Gas Fut....4.37 -0.02 -0.46% H4.49 L4.33


Source liveindices.com

And Further

http://www.theage.com.au/business/markets/us-stocks-rally-for-sixth-day-straight-20100714-109p8.html

US stocks rally for sixth day straight
July 14, 2010 - 6:49AM

US stocks rallied for a sixth straight day on Tuesday after Alcoa's quarterly results heartened investors that had fled to the sidelines on jitters about the sustainability of the economic recovery.

Even so, recent low volume suggests the market's longest winning streak since mid-April could be running out of steam, while the cost of protection in the options market against a market drop keeps growing.

What you need to know

The SPI was up 69 points at 4428
The Australian dollar was buying 88.34 US cents
The Reuters Jefferies CRB index climbed 1.36%
Alcoa Inc, the largest US aluminum producer and seen as a bellwether for the economy, rose 1.2 per cent to $US11.00 after it reported stronger-than-expected results and raised its estimate for global aluminum consumption.

"Many investors still are fearing deterioration in the economy, and that's why this earnings season is so important. It will illuminate what comes next from the view of management," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors in Rochester, New York.

After the market's close, Intel Corp, the world's largest chipmaker, reported quarterly earnings that beat Wall Street estimates and lifted other tech stocks. Intel will likely boost the broad market on Wednesday.

The earnings optimism on Tuesday also boosted shares of other companies that will report earnings later this week, including major banks. JPMorgan Chase & Co gained 3.3 per cent to $US40.48, while Bank of America Corp rose 3 per cent to $US15.67.

US Senate Democrats appeared to nail down the votes needed to pass a rewrite of financial regulation. If the bill is passed, it could be a short term negative for the banking sector, but for now the group shrugged it off, said Marc Pado, US market strategist at Cantor Fitzgerald & Co. in San Francisco.

The Dow Jones industrial average gained 146.75 points, or 1.44 per cent, to 10,363.02. The Standard & Poor's 500 Index rose 16.59 points, or 1.54 per cent, to 1095.34. The Nasdaq Composite Index jumped 43.67 points, or 1.99 per cent, to 2242.03.

The S&P 500 Index is up about 8 per cent from a recent intraday low on July 1, though trading volume has been lackluster. Volume in the past two sessions was the lightest of the year and although Tuesday's volume fared better, it was still below average.

"It's raising new cautionary flags," said Scott Fullman, director of derivative investment strategy at WJB Capital Group.

Fullman said total volume in the options pit also eased by 6.1 per cent on Monday, led by a 10.7 per cent drop in call trading. The drop increased the total put/call ratio to 0.84 from 0.75, indicating more investors are betting on stocks' fall.

Weak volume is generally viewed as an indication investors lack conviction, but analysts noted volume has been lower since the market started to rally in March 2009. Summer holidays can also cause lighter trading.

COST OF PROTECTION

In the options market, a heavy put buying was detected in an exchange-traded fund that tracks the S&P, indicating that a trader is combining the leverage of options and ETF to obtain a short-term insurance policy.

One investor snatched up July $US35 puts on the ProShares Ultra S&P 500, an exchange traded fund that delivers double the performance of the S&P 500. The heavy purchase drove premiums to jump from 32 US cents to as high as 46 US cents, said David Russell, options strategist at optionMonster.com.

Volume surged to 19,624 contracts, more than nine times open interest in the strike. The ETF rose 3.1 per cent to $US36.42, up more than 13 per cent from a week ago.

Apple Inc slipped 2 per cent after a poor consumer guide review for its iPhone 4 amid complaints about the device's reception. Apple was down at $US252.11.

"Some of the blogs out there were speculating there was going to have to be a full iPhone 4 recall and since then they've been defended by five houses on Wall Street," said Dave Lutz, managing director at Stifel Nicolaus in Baltimore.

"I think the Street is anticipating Steve Jobs doing what it takes to make it right and not have the image tarnished," said Lutz, who is long Apple.

Reuters