Merlin makes his appearance a little early….

Wow, we were set for a major pitfall this morning and then the market reverses itself back to flat line. Now going positive on the DOW. A magic trick brought to you by GE.

We of course will not know till the close what is really occurring.

Oil is the key driver here for equities showing resilience,’cause nothing else is keeping this market off 200+

Here I go again, with the Sybil bipolar shit; I’m buying EME and SY today with a hedge in GLD and possibly SRS.

I did sell another 1/3 of SNHY this morning….see the low – $37.24…that was me, but I booked a 16% profit. I will hold the last piece for earnings on August 5th.

It is okay to loose $500 million over at IMB; with the FDIC predicting a few hundred IMB’s where will this leave us?

Paulson is pitching this morning; after Wachovia, Apple, Home Depot, Texas Instruments, American Express…..

Hey are you noticing a trend here…Icons going down.

GE has a surprise to prop the DOW up today with a $8 billion deal for mid east growth. Abu  Dhabi and Mubadala will invest monies and own up to 10% of GE buying stock at free will in the open market.

No doubt another safety net of the Global Plunge Protection Team’s wide reach. Thank you for your protection I feel much better.

I thought we were living in America…What about U.S. growth?

I’m not asking for a New Deal here, but lets get this growth started in this country. As much socialism that is being applied to save this country; so should it be used to spur on growth.

Not to complain, but we could get people to work in and on reservoirs, hydro electric plants, solar farms, a nuclear power plant, coal to liquid conversion plants, natural gas fueling stations, etc.

Are we going to rebuild this country by sending people to work at SBUX or WMT?

“A strong dollar is important for our nations interest”- Paulson- he is increasing confidence in our economy.

Why do all these talking heads start stuttering when asked a question?

Alright enough bull: I’m getting nervous here so I will buy gold, foreign currencies, income generators, and go short just about anything while maintaining 60-70% cash.

I still think oil is down for the count until mid to late winter baring any serious hurricanes. So I’m looking at DUG again, and to buy my favorites 5-10% cheaper…HK, PVA, CVX, XOM, & CHK. USO and UNG I feel could be bought cheaper than 5-10%….maybe 15-20% if were lucky.

Key levels to look for are 1251, 1244, &1239 S&P. If we break these levels on a closing basis then I feel we test 1200 again. I’m telling you this market is starting to make me bipolar.

GLT

by GW

More socialistic intervention may spell trouble for oil and gold.

http://www.marketoracle.co.uk/Article5500.html

Fact: Worker productivity has grown 76% over the last 8 years while real wages adjusted for currency debasement (inflation) has fallen 2%.

Futures are up on [[BAC]] beating the street. Also the CFC acquisition will be accretive to this year’s calender earnings; last reported it would be neutral.

Also we have Roche & Co. offering a 8.8% premium on [[DNA]]. From Genentechs premarket activity it looks as if the street expects the bid to be sweetened.

As for the markets the S&P has minor resistance @ 1265, 1272 and then strong resisitance at 1281. This week will be determined by earnings since there is not a lot of economic data to consider.

If oil produces a head fake (which I believe will happen) then the market can continue to climb higher on renewed hopes that inflation will abate over the short term.

Gold is higher and I have a pain in my chest. For one I sold most of my gold (bad move) secondly my crazy neighbor said lets go out on the Hudson River….

I figure okay, next thing I know I’m bouncing around in a 12 foot Zodiac ( Navy Seal Style) with a 15 hp 2 stroke with 2 feet of chop. Trust me if you do something insane like this then keep under 10 knots no wake style!

Complete earnings outlook:

http://biz.yahoo.com/research/earncal/today.html Today

http://biz.yahoo.com/research/earncal/20080722.html Tuesday

http://biz.yahoo.com/research/earncal/20080723.html Wednesday

http://biz.yahoo.com/research/earncal/20080724.html Thursday

http://biz.yahoo.com/research/earncal/20080725.html Friday

GLT

by GW

No I’m not talking about oil.

Ever wonder why you see a stock go up or down for no reason; especially with no news.

Have you ever sat and watched level 2 all day and witness the melt up or meltdown of a stock on seemingly insignificant volume? Then at the close or even after, you get a huge buy imbalance or sell imbalance.

Strange trading like this seems to be occurring more and more. Let me introduce to you the Dark Pool.

Apparently, a lot of firms and even exchanges have Dark Pools that allow for trading large blocks of stock with almost complete anonymity.

Those who have Dark Pools maintain that the execution of their orders will take place off the trading floor giving more stability to prices within the market place and allowing for better executions.

I’m not sure about executions, but I seem to remember that volatility and major price fluctuations have been plaguing this market for quite some time now.

While the SEC will remain an observer, for now, there are wide implications that this is offering more improprieties within the market place.

Since I’m always thinking of how I may be getting ripped off, I figure it would be simple for a firm to issue a recommendation and then quietly trade against that view.

It brings to mind the days of the dot com bubble when analysts were recommending a particular issue and then selling for their own personal account or dumping institutional blocks onto retail.

by GW

http://en.wikipedia.org/wiki/Dark_pools_of_liquidity

http://www.nysun.com/business/dark-pools-threaten-wall-street/64598/

http://www.advancedtrading.com/directories/darkpool/

http://www.portfolio.com/news-markets/national-news/portfolio/2007/07/06/Dark-Pools-Grow-Scrutiny-Does-Not

Your last name stays put. The garage is all

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more pay. Wrinkles add character. Wedding

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A five-day vacation requires only one

suitcase.. You can open all your own jars.

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thoughtfulness. If someone forgets to

wrinkles in your clothes. Everything on your face stays its original color. The same

hairstyle lasts for years, maybe decades. You only have to shave your face and neck.

mustache.

You can do Christmas shopping for 25