Market Soapbox 06/14/07
THU, followthrough, DJIA +72 on below average volume with prettyinternals. All UP.
Bonds down 10 yr yield +1bps 5.22, $ up vs 122.921y & up vs 1.331E, gold up $655.9, WTI crude up 1.4% $67.65
DJIA up 39 for 55; 48 record closes since Oct.; 26 YTD; and on a parallel with 1989 Nikkei 225: the DJIA is now 46 for 66.
Over the last 3 weeks, some mighty magnetic numbers... SOXX 490-500, RUT 835, NDX 1905, MID 900 and SP500 1505. They still hold this market captive...
Yesterday $8B in Temp Fed support, today da Benster doublin down with $16B. Bonds stay afloat, the SP500 bouncing from 1515 to 1526 fading into close at 1523 on short covering.
Looks like a makeshift walker & O2 tank has the patient still breathing and ambulating. Today's market applauded rising PPI, tomorrow a standing O for CPI gone out of control??
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds down 10 yr yield +1bps 5.22, $ up vs 122.921y & up vs 1.331E, gold up $655.9, WTI crude up 1.4% $67.65
DJIA up 39 for 55; 48 record closes since Oct.; 26 YTD; and on a parallel with 1989 Nikkei 225: the DJIA is now 46 for 66.
Over the last 3 weeks, some mighty magnetic numbers... SOXX 490-500, RUT 835, NDX 1905, MID 900 and SP500 1505. They still hold this market captive...
Yesterday $8B in Temp Fed support, today da Benster doublin down with $16B. Bonds stay afloat, the SP500 bouncing from 1515 to 1526 fading into close at 1523 on short covering.
Looks like a makeshift walker & O2 tank has the patient still breathing and ambulating. Today's market applauded rising PPI, tomorrow a standing O for CPI gone out of control??
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
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