Market Soapbox 04/16/07
MON, on shortcovering, DJIA +108 on below average volume with pretty internals. All UP weak XOI, SOXX.
Bonds up, 10 yr yield -3 bps 4.73, $ down vs 1.3543E & up vs 119.725Y, WTI crude down $63.61, gold up $695.8
April 13 G7 finance officials omitted mention of the yen, while saying currencies should reflect economic fundamentals and Japan's recovery should be ``recognized by market participants.'' Giving a tacit boost to the Yen carry trade...
Citibank, (C) the biggest U.S. bank, said Q1 earnings dropped 11 % because of expenses to slash 17,000 jobs.
Net income fell for the third straight quarter, with an 18% decline in profit from U.S. consumer lending. The market applauded as Citibank stock jumped +2.6%...
Two weeks ago, "Perhaps Mon or Tues SP500 1455 & NDX 1838? Then what?" SP500 bouncing to 1453 FRI, NDX still at 1818."
FRI: "Short covering should push the market up next week, unless there's unfavorable quarterly reports or otherwise."
Today, NDX hit 1835, SP500 1468, its highest since 09/15/00. DJIA heading for 12845 all time high... we are sticking with our call made above, but is it Twin Peaks??
Don't forget to file your extension or tax returns... Often wrong, but never in doubt, this is the Nattering Naybob and your not!!
Bonds up, 10 yr yield -3 bps 4.73, $ down vs 1.3543E & up vs 119.725Y, WTI crude down $63.61, gold up $695.8
April 13 G7 finance officials omitted mention of the yen, while saying currencies should reflect economic fundamentals and Japan's recovery should be ``recognized by market participants.'' Giving a tacit boost to the Yen carry trade...
Citibank, (C) the biggest U.S. bank, said Q1 earnings dropped 11 % because of expenses to slash 17,000 jobs.
Net income fell for the third straight quarter, with an 18% decline in profit from U.S. consumer lending. The market applauded as Citibank stock jumped +2.6%...
Two weeks ago, "Perhaps Mon or Tues SP500 1455 & NDX 1838? Then what?" SP500 bouncing to 1453 FRI, NDX still at 1818."
FRI: "Short covering should push the market up next week, unless there's unfavorable quarterly reports or otherwise."
Today, NDX hit 1835, SP500 1468, its highest since 09/15/00. DJIA heading for 12845 all time high... we are sticking with our call made above, but is it Twin Peaks??
Don't forget to file your extension or tax returns... Often wrong, but never in doubt, this is the Nattering Naybob and your not!!
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