Market Soapbox 11/15/07
THU, followthrough, DJIA -121 on lower volume with deteriorating internals. All DOWN.
Bonds up BIG 10 yr yield -10bps 4.16, $ up vs 1.462E & down vs 110.45y, WTI crude down $93.43, gold down 3% $787.3
Mon: "DJIA below 13K, NDX 1950 and SP500 1400 await." Tues: "Is this a dead cat bounce? Next major resistance, NDX 2080 & SP500 1490."
The flood gates opened the last 30 minutes...
NDX gap down 2038 to 2035, rise to 2054, plunge to 2007, late day bounce to close 2024, below 100 DMA (2030); 150 DMA 1985 awaits?
SP500 open 1468, rise 1472, plunge to 1443, bounce to close on 300 DMA 1451; 400 DMA 1410 awaits? Flight to higher ground continues, PG up to $72.17.
Fannie FNMA & Freddie FHLMC hammered today. Since last months peak, energy, tech, finance all getting a double digit slam.
Today, Hedge funds saw large redemptions for Q4, spurring mass carry trade liquidation of speculative positions, gold hammered 3.3%.
Its a quadrella: #4 retailer Kohl's giving lowered forward guidance. Market technicals are breaking down en masse.
SP500 1450 is magnetic at the moment. Tomorrow, another dead cat bounce or a free fall?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up BIG 10 yr yield -10bps 4.16, $ up vs 1.462E & down vs 110.45y, WTI crude down $93.43, gold down 3% $787.3
Mon: "DJIA below 13K, NDX 1950 and SP500 1400 await." Tues: "Is this a dead cat bounce? Next major resistance, NDX 2080 & SP500 1490."
The flood gates opened the last 30 minutes...
NDX gap down 2038 to 2035, rise to 2054, plunge to 2007, late day bounce to close 2024, below 100 DMA (2030); 150 DMA 1985 awaits?
SP500 open 1468, rise 1472, plunge to 1443, bounce to close on 300 DMA 1451; 400 DMA 1410 awaits? Flight to higher ground continues, PG up to $72.17.
Fannie FNMA & Freddie FHLMC hammered today. Since last months peak, energy, tech, finance all getting a double digit slam.
Today, Hedge funds saw large redemptions for Q4, spurring mass carry trade liquidation of speculative positions, gold hammered 3.3%.
Its a quadrella: #4 retailer Kohl's giving lowered forward guidance. Market technicals are breaking down en masse.
SP500 1450 is magnetic at the moment. Tomorrow, another dead cat bounce or a free fall?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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