Market Soapbox 08/15/07
WEN, Mr. Toads Wild Ride continues, DJIA -167 on higher volume with fugly internals. All DOWN BIG.
Bonds up 10 yr yield -2bps 4.71, $ up vs 1.3450E & creamed vs 116.82Y, WTI crude up 1.3% $73.33, gold flat $679.7
2 weeks ago: "this market goes nowhere until Yen $ crossover gets back to 120+"' Today, Yen hitting a 4 month high vs $ at 116.82.
Last two weeks crude falling -7.5%; Today, DJTA & XAU got facials; VIX almost 31, 1st time since 03.
Thursday: "watch current support at SP500 200 DMA 1450 & 250 DMA 1425 very closely."
DJIA closed below 13K, SP500 open 1426, up to 1440 then collapsing 34 points into close 1406.
Today, $7B in Fed reanimation. More wild intraday swings, negative housing news will kick this market down even harder.
SP500 1420 has been violated, 1395 & 1375 is in clear view. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up 10 yr yield -2bps 4.71, $ up vs 1.3450E & creamed vs 116.82Y, WTI crude up 1.3% $73.33, gold flat $679.7
2 weeks ago: "this market goes nowhere until Yen $ crossover gets back to 120+"' Today, Yen hitting a 4 month high vs $ at 116.82.
Last two weeks crude falling -7.5%; Today, DJTA & XAU got facials; VIX almost 31, 1st time since 03.
Thursday: "watch current support at SP500 200 DMA 1450 & 250 DMA 1425 very closely."
DJIA closed below 13K, SP500 open 1426, up to 1440 then collapsing 34 points into close 1406.
Today, $7B in Fed reanimation. More wild intraday swings, negative housing news will kick this market down even harder.
SP500 1420 has been violated, 1395 & 1375 is in clear view. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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