Market Soapbox 05/08/06
Resistance: DJIA 11600; SP500 1335; Nasdaq 2380; NDX 1750
Support: DJIA 11075; SP500 1285; Nasdaq 2275; NDX 1670
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Crude got under 68.50 intraday after the Iranian president sent a love letter to GDub. Good move to keep the Russian and Chinese voting against an embargo.
Bonds DOWN with the 30 yr yield rising @ 5.18%; 10 yr @ 5.11; 5 yr @ 5.00; 2yr @ 4.96; 6 mo @ 4.99. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
MON, DJIA +7 on lower volume with soso internals. This week DJIA +7, since 09/23/05 DJIA +768.
Indexes UP: ALL WEAK. DOWN: XAU, XOI, DJUA, SOX
Sectors UP: Telecom, Healthcare DOWN: Semis, Utilities, Brokers, Oil, Gold Bugs, Airlines
Overseas: DAX UP, CAC, FTSE DOWN, Hang Seng & Nikkei 225 UP BIG.
Dollar UP vs. Euro 1.2736 & DOWN vs. Yen 111.05, XAU & gold DOWN @ 679.90, XOI & crude DOWN @ 69.17, CRB commodities index DOWN @ 350.35.
Last week gold +4.2%, YTD +30%. Wend. 16th consecutive rate hike of 25 bps. Watch the 10 yr go over 5.25 in the near term and check the auction for indirect bidder participation.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
Support: DJIA 11075; SP500 1285; Nasdaq 2275; NDX 1670
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Crude got under 68.50 intraday after the Iranian president sent a love letter to GDub. Good move to keep the Russian and Chinese voting against an embargo.
Bonds DOWN with the 30 yr yield rising @ 5.18%; 10 yr @ 5.11; 5 yr @ 5.00; 2yr @ 4.96; 6 mo @ 4.99. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
MON, DJIA +7 on lower volume with soso internals. This week DJIA +7, since 09/23/05 DJIA +768.
Indexes UP: ALL WEAK. DOWN: XAU, XOI, DJUA, SOX
Sectors UP: Telecom, Healthcare DOWN: Semis, Utilities, Brokers, Oil, Gold Bugs, Airlines
Overseas: DAX UP, CAC, FTSE DOWN, Hang Seng & Nikkei 225 UP BIG.
Dollar UP vs. Euro 1.2736 & DOWN vs. Yen 111.05, XAU & gold DOWN @ 679.90, XOI & crude DOWN @ 69.17, CRB commodities index DOWN @ 350.35.
Last week gold +4.2%, YTD +30%. Wend. 16th consecutive rate hike of 25 bps. Watch the 10 yr go over 5.25 in the near term and check the auction for indirect bidder participation.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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