Market Soapbox 09/12/07
WEN, wavy gravy, DJIA -17 on low volume with midlin internals. All DOWN cept DJUA, XAU, XOI.
Bonds down 10 yr yield +4 bps 4.40, $ down BIG vs 1.3905E & vs 114.195Y, WTI crude up 2% $79.91, gold down $720.7
Tues large afterhours volume spike: NYSE 1.6 Billion; NAZ 790 Million. Intraday redux: $ hit all time low vs Euro over 1.38, Oct. crude hit all time high over $80.
Fri: "Broadbased whuppin with 10 to 1 declining volume, we sense a ricochet coming Monday...
with hopes for a Sept. Fed Cut could start a small rally, when the Fed refuses on the 19th, just before options expiration, pffffttttt."
Mon: "What do we know? Sept 18th & Oct 31st +/- 2 days are going to be MAJOR inflection points."
Tues: "We could see a run up to NDX 2030, 2060 or 2080 area prior to Fed meeting on 09/18."
NDX 2030 is possible, 2060 and twin tops is slim, 2080 after 09/18 and only if the Fed lowers.
SP500, open 1471, rise to 1479, bleed to 1471 above 200 DMA at 1460. NDX open 1986, rise to 2006, then bleed to 1988.
Add these quarterly reports to the Fed meeting on 09/18: Lehman Bros 18th, Morgan Stanley 19th and Goldman Sachs and Bear Stearns 20th.
Imagine what will happen if the Fed does not lower and these reports are as ugly as expected? Snap, Crackle & Pop!!
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +4 bps 4.40, $ down BIG vs 1.3905E & vs 114.195Y, WTI crude up 2% $79.91, gold down $720.7
Tues large afterhours volume spike: NYSE 1.6 Billion; NAZ 790 Million. Intraday redux: $ hit all time low vs Euro over 1.38, Oct. crude hit all time high over $80.
Fri: "Broadbased whuppin with 10 to 1 declining volume, we sense a ricochet coming Monday...
with hopes for a Sept. Fed Cut could start a small rally, when the Fed refuses on the 19th, just before options expiration, pffffttttt."
Mon: "What do we know? Sept 18th & Oct 31st +/- 2 days are going to be MAJOR inflection points."
Tues: "We could see a run up to NDX 2030, 2060 or 2080 area prior to Fed meeting on 09/18."
NDX 2030 is possible, 2060 and twin tops is slim, 2080 after 09/18 and only if the Fed lowers.
SP500, open 1471, rise to 1479, bleed to 1471 above 200 DMA at 1460. NDX open 1986, rise to 2006, then bleed to 1988.
Add these quarterly reports to the Fed meeting on 09/18: Lehman Bros 18th, Morgan Stanley 19th and Goldman Sachs and Bear Stearns 20th.
Imagine what will happen if the Fed does not lower and these reports are as ugly as expected? Snap, Crackle & Pop!!
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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