Market Soapbox 11/19/07
MON, triple double followthrough, DJIA -218 on average volume with devastating internals.
All DOWN BIG cept DJUA. Bonds up 10 yr yield -8bps 4.09, $ down vs 1.4662E & 109.935y, WTI down $94.55, gold down $777.8
Friday: "SP500 1450 is magnetic at the moment, testing 1440 support. NDX 2030 magnetic, testing 2005 support. A fall from grace goes to SP500 1410 & NDX 1940".
NDX gap down 2049 to 2040, rise to 2050, plunge to 2009, the dead cat bounced off support to close 2021.
SP500 open 1456, plunge to 1430, rise to close 1433 violating 1440 support
Flight to higher ground stalls, PG off all time high $73.07 to 72.82, if it falls breaks $67, watch out.
Yen carry trade unwind under 110 as leveraged speculative positions get liquidated.
Will tomorrows housing starts & permits offer a breather? NOT! Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
All DOWN BIG cept DJUA. Bonds up 10 yr yield -8bps 4.09, $ down vs 1.4662E & 109.935y, WTI down $94.55, gold down $777.8
Friday: "SP500 1450 is magnetic at the moment, testing 1440 support. NDX 2030 magnetic, testing 2005 support. A fall from grace goes to SP500 1410 & NDX 1940".
NDX gap down 2049 to 2040, rise to 2050, plunge to 2009, the dead cat bounced off support to close 2021.
SP500 open 1456, plunge to 1430, rise to close 1433 violating 1440 support
Flight to higher ground stalls, PG off all time high $73.07 to 72.82, if it falls breaks $67, watch out.
Yen carry trade unwind under 110 as leveraged speculative positions get liquidated.
Will tomorrows housing starts & permits offer a breather? NOT! Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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