Market Soapbox 09/24/07
MON, split tape, DJIA -61 on low volume with bad internals. All DOWN cept DJUA, NDX.
Bonds down 10 yr yield +1bps 4.63, $ down vs 114.74y & up vs 1.4084E, gold up $739.3 WTI crude down $80.95
SP500, open 1525, rise to 1530, fade to 1517. NDX open 2049, gap up 2054, rise to 2072, fall to 2047, close up at 2057.
Last 3 weeks: "Can NDX hit 2082? Twin Tops?" Today, new high 2072 was hit. Last 2 weeks: "Watch PG." Today, new high $70.
Last week: "Is a yen carry trade unwind already priced in?" TBD, $ falling below 115 yen.
Friday: "will the new & existing home sales get that early Aug. jumbo money panic buying headfake?"
Sure looks like Twin Tops with banks getting punked. Headfake takes market up on false hope, bad numbers start the "Fall" season? It's "must flee TV" for sure.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +1bps 4.63, $ down vs 114.74y & up vs 1.4084E, gold up $739.3 WTI crude down $80.95
SP500, open 1525, rise to 1530, fade to 1517. NDX open 2049, gap up 2054, rise to 2072, fall to 2047, close up at 2057.
Last 3 weeks: "Can NDX hit 2082? Twin Tops?" Today, new high 2072 was hit. Last 2 weeks: "Watch PG." Today, new high $70.
Last week: "Is a yen carry trade unwind already priced in?" TBD, $ falling below 115 yen.
Friday: "will the new & existing home sales get that early Aug. jumbo money panic buying headfake?"
Sure looks like Twin Tops with banks getting punked. Headfake takes market up on false hope, bad numbers start the "Fall" season? It's "must flee TV" for sure.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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