Market Soapbox 0514/07
MON, split tape, DJIA +21 on low volume with poor internals. All DOWN cept DJUA, XOI.
Bonds down, 10 yr yield +2 bps 4.69, $ down vs 1.3544E & up vs 120.355Y, WTI crude up $62.46, gold down $670.1
Over the last two weeks, some magic numbers with magnetism... RUT 830, SOXX 500-505, SP500 1510, NDX 1905.
Today, SP500 1505 to 1510 to 1498 to 1503. SOXX & RUT also tip-toeing about the number while NDX slid to 1888.
GM & CAT kept the DJIA up 27 for 32.... and on a parallel with 1989 Nikkei 225: the DJIA is now 34 for 44....
Fleck concurs in his latest missive that its a See No Evil Market
"Wall Street seems to have a huge paper shredder at its disposal. Stock bulls have kept it working overtime,
as they feed in whatever "offending" facts threaten their Goldilocks -- not too strong, not too weak, but just right -- scenario. "
The Nattering One reminds ...."Never underestmate the power of denial" - Ricky Fitts - American Beauty... especially where "group think" is concerned.
Tues before the bell, WalMart, then CPI & Housing Index. Wen Building Permits, Housing Starts, Industrial Production with HP reporting.
The upper end of SP500 1520-1530 is still the next target on short covering by FRI options expiration, perhaps even 1533.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds down, 10 yr yield +2 bps 4.69, $ down vs 1.3544E & up vs 120.355Y, WTI crude up $62.46, gold down $670.1
Over the last two weeks, some magic numbers with magnetism... RUT 830, SOXX 500-505, SP500 1510, NDX 1905.
Today, SP500 1505 to 1510 to 1498 to 1503. SOXX & RUT also tip-toeing about the number while NDX slid to 1888.
GM & CAT kept the DJIA up 27 for 32.... and on a parallel with 1989 Nikkei 225: the DJIA is now 34 for 44....
Fleck concurs in his latest missive that its a See No Evil Market
"Wall Street seems to have a huge paper shredder at its disposal. Stock bulls have kept it working overtime,
as they feed in whatever "offending" facts threaten their Goldilocks -- not too strong, not too weak, but just right -- scenario. "
The Nattering One reminds ...."Never underestmate the power of denial" - Ricky Fitts - American Beauty... especially where "group think" is concerned.
Tues before the bell, WalMart, then CPI & Housing Index. Wen Building Permits, Housing Starts, Industrial Production with HP reporting.
The upper end of SP500 1520-1530 is still the next target on short covering by FRI options expiration, perhaps even 1533.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
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