Market Soapbox 07/05/07
WEN, Markets Closed
THU, wavy gravy, DJIA -11 on low volume with midlin internals. All UP cept DJTA, DJUA, XOI.
Bonds PUNKED 10 yr yield +10bps 5.14, $ up vs 122.845y & vs 1.3602E, gold down $650.6, WTI crude up $71.81
But, its all good.... the % of financial advisors who said they expect a 10% slide in U.S. stocks during the next 12 months...
jumped to 32.6% last week, the highest since August 1997. The Shaghai Index sliding 5.25% last night, watch it closely!
Today double down $18B in Fed reanimation. NDX jumped 1972 to 1983. SP500 at 1525, DJUA at 506 with possibly a revealing pattern.
Tues: "Our sense, BOE will raise, ECB will hold." And so it was and we hold as well...
deteriorating macro economic data, rising rates and $72 oil are bad news which cannot be dismissed with the wave of a hand.
Until SP500 closes above 1550 for 2 days, we reserve judgment on an overall change in market direction.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
THU, wavy gravy, DJIA -11 on low volume with midlin internals. All UP cept DJTA, DJUA, XOI.
Bonds PUNKED 10 yr yield +10bps 5.14, $ up vs 122.845y & vs 1.3602E, gold down $650.6, WTI crude up $71.81
But, its all good.... the % of financial advisors who said they expect a 10% slide in U.S. stocks during the next 12 months...
jumped to 32.6% last week, the highest since August 1997. The Shaghai Index sliding 5.25% last night, watch it closely!
Today double down $18B in Fed reanimation. NDX jumped 1972 to 1983. SP500 at 1525, DJUA at 506 with possibly a revealing pattern.
Tues: "Our sense, BOE will raise, ECB will hold." And so it was and we hold as well...
deteriorating macro economic data, rising rates and $72 oil are bad news which cannot be dismissed with the wave of a hand.
Until SP500 closes above 1550 for 2 days, we reserve judgment on an overall change in market direction.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Comments