Market Soapbox Week Ending 09/14/07
MON, chop city, DJIA +14 on below average volume with midlin internals. All DOWN cept DJUA, NDX, SOXX. Bonds up 10 yr yield -4bps 4.33, $ up vs 113.735y & down vs 1.3798E, gold up $712.2 WTI crude up 1% $77.49
TUE, full ricochet, DJIA +181 on below average volume with pretty internals. All UP BIG. Bonds down, 10 yr yield +3 bps 4.36, $ down vs 1.3834E & vs 114.163Y, WTI crude up 1% $78.23, gold up 1.3% $721.10.
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
THU, upsurge, DJIA +133 on low volume with nice internals. All UP cept SOXX. Bonds down BIG 10 yr yield +9bps 4.49, $ up vs 1.3881E & vs 115.27Y, WTI crude up & over $80.09, gold down $717.9
FRI, triple digit slapdown & rebound, DJIA +18 on tepid volume with OK internals. All UP cept DJTA, OEX, SOXX, XOI, Bonds up 10 yr yield -3bps 4.46, $ down vs 115.235y & up vs 1.388E, gold down $ 717.8, WTI crude down 1.2% $79.10
This week, DJIA +329, since 09/19/05 DJIA +2832. CRB commodities up 312.32 to 320.92
XAU up 151.61 to 157.59 & gold up $709.7 to 717.8 XOI up 1378.92 to 1409.92 & WTI crude up $76.7 to 79.1
Volatility VIX down 26.61 to 24.82. Dollar index down 79.96 to 79.62 $ up vs Yen 113.425 to 115.235 & down vs Euro 1.3767 to 1.388
This week bonds down BIG. 30yr +3bps; 10yr +9bps, 5yr +15bps, 2yr +15bps, 6mo +1bps. 30 yr @ 4.72%; 10 yr @ 4.46; 5 yr @ 4.18; 2yr @ 4.05; 6 mo @ 4.20.
SP500, open 1483, down to 1473, rise to 1484 heading for 100 DMA resistance at 1495. NDX open 1999, gap down to 1981, rise to 2000.
Stocks & the ABCP debt market have an artificially buoyancy this week on the hopes of a Tues. Fed rate cut. Next week many evils await...
MON NY Empire. TUES FOMC rate announcement; TIC data; Housing Index; PPI; Lehman Bros.
WEN: CPI; Housing Starts; Morgan Stanley. THU Initial Claims; Philly Fed; Goldman Sachs, Bear Stearns. FRI: Quadruple Witching Options Expiration.
A rate cut & lots of "hope and faith" in the numbers would result in a boom to the upside and perhaps double tops.
No rate cut could make this a very ugly week, in the extreme, as in Snap, Crackle & Pop!. Calling all straddles?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
TUE, full ricochet, DJIA +181 on below average volume with pretty internals. All UP BIG. Bonds down, 10 yr yield +3 bps 4.36, $ down vs 1.3834E & vs 114.163Y, WTI crude up 1% $78.23, gold up 1.3% $721.10.
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
THU, upsurge, DJIA +133 on low volume with nice internals. All UP cept SOXX. Bonds down BIG 10 yr yield +9bps 4.49, $ up vs 1.3881E & vs 115.27Y, WTI crude up & over $80.09, gold down $717.9
FRI, triple digit slapdown & rebound, DJIA +18 on tepid volume with OK internals. All UP cept DJTA, OEX, SOXX, XOI, Bonds up 10 yr yield -3bps 4.46, $ down vs 115.235y & up vs 1.388E, gold down $ 717.8, WTI crude down 1.2% $79.10
This week, DJIA +329, since 09/19/05 DJIA +2832. CRB commodities up 312.32 to 320.92
XAU up 151.61 to 157.59 & gold up $709.7 to 717.8 XOI up 1378.92 to 1409.92 & WTI crude up $76.7 to 79.1
Volatility VIX down 26.61 to 24.82. Dollar index down 79.96 to 79.62 $ up vs Yen 113.425 to 115.235 & down vs Euro 1.3767 to 1.388
This week bonds down BIG. 30yr +3bps; 10yr +9bps, 5yr +15bps, 2yr +15bps, 6mo +1bps. 30 yr @ 4.72%; 10 yr @ 4.46; 5 yr @ 4.18; 2yr @ 4.05; 6 mo @ 4.20.
SP500, open 1483, down to 1473, rise to 1484 heading for 100 DMA resistance at 1495. NDX open 1999, gap down to 1981, rise to 2000.
Stocks & the ABCP debt market have an artificially buoyancy this week on the hopes of a Tues. Fed rate cut. Next week many evils await...
MON NY Empire. TUES FOMC rate announcement; TIC data; Housing Index; PPI; Lehman Bros.
WEN: CPI; Housing Starts; Morgan Stanley. THU Initial Claims; Philly Fed; Goldman Sachs, Bear Stearns. FRI: Quadruple Witching Options Expiration.
A rate cut & lots of "hope and faith" in the numbers would result in a boom to the upside and perhaps double tops.
No rate cut could make this a very ugly week, in the extreme, as in Snap, Crackle & Pop!. Calling all straddles?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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