Market Soapbox 11/26/07
MON, triple digit slam, DJIA -237 on lower volume with ugly internals.
All DOWN BIG. Bonds UP BIG 10 yr yield -18bps 3.83, $ down vs 1.4869E & 107.52y, WTI down $97.7, gold up $826.5
Last week: "NDX bouncing 4 times at 2000 support; SP500 3 times at 1415-20.
If this market sinks below 1410 and does not bounce into a rally, its going to be a long, cold and hard winter."
NDX gap up 2029 to 2033, rise to 2047, plunging to 1988. SP500 open 1440, rise to 1446, plunge to 1406.
Jack Frost is blowin hard as both violated long term support in a late day landslide. NDX heading for 11/19 1980 low. Yen cracked 108 on carry trade unwind.
Existing & new home sales and construction spending await.
We were a week early, the Pats barely won 31-28 over Philly, but didn't cover the 25 point spread!
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
All DOWN BIG. Bonds UP BIG 10 yr yield -18bps 3.83, $ down vs 1.4869E & 107.52y, WTI down $97.7, gold up $826.5
Last week: "NDX bouncing 4 times at 2000 support; SP500 3 times at 1415-20.
If this market sinks below 1410 and does not bounce into a rally, its going to be a long, cold and hard winter."
NDX gap up 2029 to 2033, rise to 2047, plunging to 1988. SP500 open 1440, rise to 1446, plunge to 1406.
Jack Frost is blowin hard as both violated long term support in a late day landslide. NDX heading for 11/19 1980 low. Yen cracked 108 on carry trade unwind.
Existing & new home sales and construction spending await.
We were a week early, the Pats barely won 31-28 over Philly, but didn't cover the 25 point spread!
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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