Market Soapbox 05/10/07
THU, triple digit consolidation, DJIA -148 on average volume with butt fugly internals. All DOWN BIG, yield curve inverting further 2 yr +4 bps over 10 yr.
Bonds up 10 yr yield -2 bps 4.64, $ down vs 119.878y & up vs 1.3484E, gold slapped 2.2% $667, WTI crude up $61.81
Over the last week, some magic numbers... "RUT 830 & SOXX 500 strong resistance." Monday... "some options unwind and MAX PAIN Tue or Wen."
Yesterday, "SP500 should rise to 1520 then retest 1510... SOXX 505 & RUT 835 still a magnet..." Today, one day and seven points off.
SP500 drops to touch 15 DMA; retesting 1490-1495 dropping from 1513 to 1491 (MAX PAIN on options). SOXX fell 510 to 497, RUT fell 837 to 818; watch em...
The DJIA up 25 for 30.... and on a parallel with 1989 Nikkei 225: the DJIA is now 32 for 42.... alrighty then, you've been told...
SP500 1520-1530 is still the next target on short covering by options expiration. Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds up 10 yr yield -2 bps 4.64, $ down vs 119.878y & up vs 1.3484E, gold slapped 2.2% $667, WTI crude up $61.81
Over the last week, some magic numbers... "RUT 830 & SOXX 500 strong resistance." Monday... "some options unwind and MAX PAIN Tue or Wen."
Yesterday, "SP500 should rise to 1520 then retest 1510... SOXX 505 & RUT 835 still a magnet..." Today, one day and seven points off.
SP500 drops to touch 15 DMA; retesting 1490-1495 dropping from 1513 to 1491 (MAX PAIN on options). SOXX fell 510 to 497, RUT fell 837 to 818; watch em...
The DJIA up 25 for 30.... and on a parallel with 1989 Nikkei 225: the DJIA is now 32 for 42.... alrighty then, you've been told...
SP500 1520-1530 is still the next target on short covering by options expiration. Often wrong, but never in doubt, this is the Nattering Naybob and your not!
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