Market Soapbox 10/29/07
MON, followthrough, DJIA +64 on lower volume with OK internals. All UP cept DJTA.
Bonds up 10 yr yield -2 bps 4.38, $ down vs 1.4425E & up vs 114.619y, WTI crude up 1.8% $93.53, gold up $792.6
Friday: "NDX 2250-60 on anticipation of a rate cut." Maybe. Dollar plunging to all time low vs Euro 1.44, Crude at all time high $93.
NDX gapped up 2194 to new high 2209, fell to 2191, rise to close 2203. SP500 opened 1536, rise to 1544, closed at 1541. RUT & MID weak.
Bill Gross, manager of the world's biggest bond fund at PIMCO., expects the Fed to lower benchmark interest rates to 3.5% to avoid a recession.
We still sense Oct 31st will be a critical juncture for the markets. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up 10 yr yield -2 bps 4.38, $ down vs 1.4425E & up vs 114.619y, WTI crude up 1.8% $93.53, gold up $792.6
Friday: "NDX 2250-60 on anticipation of a rate cut." Maybe. Dollar plunging to all time low vs Euro 1.44, Crude at all time high $93.
NDX gapped up 2194 to new high 2209, fell to 2191, rise to close 2203. SP500 opened 1536, rise to 1544, closed at 1541. RUT & MID weak.
Bill Gross, manager of the world's biggest bond fund at PIMCO., expects the Fed to lower benchmark interest rates to 3.5% to avoid a recession.
We still sense Oct 31st will be a critical juncture for the markets. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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