Market Soapbox 05/07/07
MON, split tape, DJIA +48 on lower volume with OK internals. All UP cept DJTA, NAZ, SOXX, XOI, RUT.
Bonds up, 10 yr yield -1 bps 4.63, $ down vs 1.3603E & vs 120.08Y, WTI crude down $61.47, gold up $690.4
Tapped out equity loan? Its all good, just charge it...
Consumer credit, or non-mortgage loans to individuals, +$13.5 billion, or 6.7% to $2.425 trillion, vs prior +$5.6 billion.
The largest rise since Nov 06 +$20 billion with revolving credit +$6.8 billion; and non revolving (auto & mobile home) +$6.7 billion.
The markets mantra continues: "Ignore the man behind the curtain"... and go parabolic...
All indices at all time or multi year highs. Still meeting heavy resistance SOXX at 505 and RUT at 835, watch em both for clues.
Alcoa boosting the DJIA to a 21st record close YTD 13,312 and up 24 for 27, something that hasn't happened since 1929....
Yo Monkeyboy... keep rolling your eyes.... from Flecks latest...
Nikkei 225 rising 32 of 38 sessions prior to Dec 1989 40% correction... the DJIA is now 31 for 39.... now you know.
We sense BOE raise, FED & ECB on hold but "vigilant" wording... also some options unwind MAX PAIN shake out perhaps Tue or Wen...
Then short covering takes over till Fri 18th....SP500 knocking on 1510 again; SP500 1520-1530 is the next target.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds up, 10 yr yield -1 bps 4.63, $ down vs 1.3603E & vs 120.08Y, WTI crude down $61.47, gold up $690.4
Tapped out equity loan? Its all good, just charge it...
Consumer credit, or non-mortgage loans to individuals, +$13.5 billion, or 6.7% to $2.425 trillion, vs prior +$5.6 billion.
The largest rise since Nov 06 +$20 billion with revolving credit +$6.8 billion; and non revolving (auto & mobile home) +$6.7 billion.
The markets mantra continues: "Ignore the man behind the curtain"... and go parabolic...
All indices at all time or multi year highs. Still meeting heavy resistance SOXX at 505 and RUT at 835, watch em both for clues.
Alcoa boosting the DJIA to a 21st record close YTD 13,312 and up 24 for 27, something that hasn't happened since 1929....
Yo Monkeyboy... keep rolling your eyes.... from Flecks latest...
Nikkei 225 rising 32 of 38 sessions prior to Dec 1989 40% correction... the DJIA is now 31 for 39.... now you know.
We sense BOE raise, FED & ECB on hold but "vigilant" wording... also some options unwind MAX PAIN shake out perhaps Tue or Wen...
Then short covering takes over till Fri 18th....SP500 knocking on 1510 again; SP500 1520-1530 is the next target.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
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