Market Soapbox 11/28/07
WEN, triple triple followthrough, DJIA +331 on average volume with sterling internals. All UP BIG.
Bonds down 10 yr yield +8bps 4.03, $ down vs 1.4828E & up vs 110.07y, WTI down 4% $90.62, gold down 1.7% $807.3
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 2034 to 2055, rocket ride to 2100, close 2095. SP500 open 1432, ride to 1471, close 1469. DJIA leaping over 13.3K.
Bounce off of 1988 NDX (150DMA) & 1406 SP500 (400DMA), the biggest 2 day rally in 5 years.
Existing home sales and durables a disaster, who cares? Kohns comments seem to indicate further rate cuts, party on Garth! Not so fast Joe...
Resistance awaits NDX 2120, SP500 1480. Gauge the reaction at this level. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +8bps 4.03, $ down vs 1.4828E & up vs 110.07y, WTI down 4% $90.62, gold down 1.7% $807.3
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 2034 to 2055, rocket ride to 2100, close 2095. SP500 open 1432, ride to 1471, close 1469. DJIA leaping over 13.3K.
Bounce off of 1988 NDX (150DMA) & 1406 SP500 (400DMA), the biggest 2 day rally in 5 years.
Existing home sales and durables a disaster, who cares? Kohns comments seem to indicate further rate cuts, party on Garth! Not so fast Joe...
Resistance awaits NDX 2120, SP500 1480. Gauge the reaction at this level. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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