Market Soapbox 05/09/07
WEN, broadbased followthrough, DJIA +54 on average volume with pretty internals. All UP cept DJTA.
Bonds down 10yr yield +3bps 4.66, $ up vs 120.079y & vs 1.3526E, WTI crude down 1% $61.55, gold down $682.5
Yesterday, "Tomorrows FOMC wording spin is key... good spin... up, up and short covering takes over till Fri 18th."
Today no FED surprises.... SP500 dropping from 1509 to 1503, then shooting up to close at 1513.
The markets mantra continues: "Ignore the man behind the curtain"... and go parabolic...
All indices at all time or multi year highs. SOXX hit 508, but 505 still a magnet and RUT hit 837, but 835 still a magnet, watch em...
The DJIA up 25 for 29.... and on a parallel with 1989 Nikkei 225: the DJIA is now 32 for 41.... alrighty then, you've been told...
SP500 should rise to 1520 then retest 1510 again perhaps by Friday; next week on short covering SP500 1520-1530 is the next target.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds down 10yr yield +3bps 4.66, $ up vs 120.079y & vs 1.3526E, WTI crude down 1% $61.55, gold down $682.5
Yesterday, "Tomorrows FOMC wording spin is key... good spin... up, up and short covering takes over till Fri 18th."
Today no FED surprises.... SP500 dropping from 1509 to 1503, then shooting up to close at 1513.
The markets mantra continues: "Ignore the man behind the curtain"... and go parabolic...
All indices at all time or multi year highs. SOXX hit 508, but 505 still a magnet and RUT hit 837, but 835 still a magnet, watch em...
The DJIA up 25 for 29.... and on a parallel with 1989 Nikkei 225: the DJIA is now 32 for 41.... alrighty then, you've been told...
SP500 should rise to 1520 then retest 1510 again perhaps by Friday; next week on short covering 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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