Market Soapbox 08/01/07
WEN, insane gyrations, DJIA +150 on high volume with ugly internals. All UP cept XAU, XOI.
Bonds flat 10 yr yield -0bps 4.76, $ up vs 1.3661E & down vs 118.635Y, WTI crude down -2% $76.53, gold down $675.9.
Over a cliff... GM auto sales -26%; trucks -20%. Toyota -7.3%, biggest in 3 years. Honda -7.1%; Hyundai -7.8%.
August has become the worst month of the year for the S&P 500 since 1987 and the second worst month for the Dow and Nasdaq,
Yesterday: "watch for absurdly overpriced Tech to lead the collapse." also, "If SP500 breaks and closes below 1450 for 2 days, look out below."
Today, $6.75B in Fed Open Market Reanimation; extreme volatility, VIX to 25.15; from 3:25 EST a roman candle to the upside SP500 1439 to 1468, 29 POINTS!!!
SP500 down from 1455 to 1439 up to close 1465. NDX up to 1944 down to 1912 up to 1945. Tomorrow BOE or ECB raise?
This ride ends late Friday or early Monday; also this market goes nowhere until $ vs Yen crossover gets back to 120, watch it.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds flat 10 yr yield -0bps 4.76, $ up vs 1.3661E & down vs 118.635Y, WTI crude down -2% $76.53, gold down $675.9.
Over a cliff... GM auto sales -26%; trucks -20%. Toyota -7.3%, biggest in 3 years. Honda -7.1%; Hyundai -7.8%.
August has become the worst month of the year for the S&P 500 since 1987 and the second worst month for the Dow and Nasdaq,
Yesterday: "watch for absurdly overpriced Tech to lead the collapse." also, "If SP500 breaks and closes below 1450 for 2 days, look out below."
Today, $6.75B in Fed Open Market Reanimation; extreme volatility, VIX to 25.15; from 3:25 EST a roman candle to the upside SP500 1439 to 1468, 29 POINTS!!!
SP500 down from 1455 to 1439 up to close 1465. NDX up to 1944 down to 1912 up to 1945. Tomorrow BOE or ECB raise?
This ride ends late Friday or early Monday; also this market goes nowhere until $ vs Yen crossover gets back to 120, watch it.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
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