Market Observations 06/12/06
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead.
Bad news: May deficit rises to $42.8 B vs YOY $35.4 B Good news?: Deficit has gone from Feb -119B to Mar -85B to April -42.8B. Full Report
7th straight down session for the NAZ, -11.9% from April peak. Market leader RUT -12.9% from its 05/05 peak. Tomorrow maybe a slight reprieve??
The remaining Lines in the Sand all got breeched today on a closing basis: NDX 1555, SOX 455, NAZ 2135, XOI 1035, RUT 695, MID 740, TMWX 12550, SP500 1245, OEX 572, NYSE 7925, DJIA 10875, XAU 133.
Should we close below these lines for 2 more days or if WEN CPI is +0.3% or higher, you have not seen anything yet, as things will get very very ugly.
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!!!
Bad news: May deficit rises to $42.8 B vs YOY $35.4 B Good news?: Deficit has gone from Feb -119B to Mar -85B to April -42.8B. Full Report
7th straight down session for the NAZ, -11.9% from April peak. Market leader RUT -12.9% from its 05/05 peak. Tomorrow maybe a slight reprieve??
The remaining Lines in the Sand all got breeched today on a closing basis: NDX 1555, SOX 455, NAZ 2135, XOI 1035, RUT 695, MID 740, TMWX 12550, SP500 1245, OEX 572, NYSE 7925, DJIA 10875, XAU 133.
Should we close below these lines for 2 more days or if WEN CPI is +0.3% or higher, you have not seen anything yet, as things will get very very ugly.
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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