Market Soapbox 10/10/07
Last week: Mon +192; Tue -40; Wen -79; Thu +6; Fri +92 for the week +171.
Week beginning 09/24 +77, 10/01 +171 (2 week gain +248) since 09/19/05 DJIA +3457. This week: DJIA Mon -22; Tue +121.
WEN, split tape, DJIA -86 on low volume with midlin internals. All DOWN cept NDX, NAZ, XAU, XOI.
Bonds flat 10 yr yield +0 bps 4.65, $ down vs 1.414E & vs 117.19y, WTI crude up 1% $81.3, gold up $746
Sept 28th: Make it NDX 2121 by Oct 3rd. Perhaps, and then? Perhaps a pull back? We anticipate major resistance at DJIA 14K & SP500 1550.
Oct 1st NDX 2120, SP500 1549, DJIA closed 14087, then down with 3 days of chop. Since then rising to new heights.
Despite Valero & Petsmart disappointing, SP500 hit a new all time intraday high. NDX flirting with 2175.
Sept 28th: We don't anticipate any large pivotal movements until Oct 31st.
Next weeks financial house & bank quarterly reporting could cause a few days of downward action.
After 3 or 4 days down, the market should recover and head up till Oct 31 for the big Kahuna.
Another cut gets applauded by the markets. Take away the punch bowl, as in no cut, and this drunken party turns into a puke fest to the downside.
Straddles again? Not a pro, don't worry, be happy. The Morgan Stanley quantitative strategies group lost $480 million during the quarter...
after they were caught "off guard" when other investors sold securities to reduce borrowings.
From the SEC filing, the "pros" lost money on 13 days during the quarter ended Aug. 31, "with the largest single-day trading loss being $390 million."
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Week beginning 09/24 +77, 10/01 +171 (2 week gain +248) since 09/19/05 DJIA +3457. This week: DJIA Mon -22; Tue +121.
WEN, split tape, DJIA -86 on low volume with midlin internals. All DOWN cept NDX, NAZ, XAU, XOI.
Bonds flat 10 yr yield +0 bps 4.65, $ down vs 1.414E & vs 117.19y, WTI crude up 1% $81.3, gold up $746
Sept 28th: Make it NDX 2121 by Oct 3rd. Perhaps, and then? Perhaps a pull back? We anticipate major resistance at DJIA 14K & SP500 1550.
Oct 1st NDX 2120, SP500 1549, DJIA closed 14087, then down with 3 days of chop. Since then rising to new heights.
Despite Valero & Petsmart disappointing, SP500 hit a new all time intraday high. NDX flirting with 2175.
Sept 28th: We don't anticipate any large pivotal movements until Oct 31st.
Next weeks financial house & bank quarterly reporting could cause a few days of downward action.
After 3 or 4 days down, the market should recover and head up till Oct 31 for the big Kahuna.
Another cut gets applauded by the markets. Take away the punch bowl, as in no cut, and this drunken party turns into a puke fest to the downside.
Straddles again? Not a pro, don't worry, be happy. The Morgan Stanley quantitative strategies group lost $480 million during the quarter...
after they were caught "off guard" when other investors sold securities to reduce borrowings.
From the SEC filing, the "pros" lost money on 13 days during the quarter ended Aug. 31, "with the largest single-day trading loss being $390 million."
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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