Market Observations 12/14/07
Resistance: DJIA 13625; SP500 1500; NAZ 2715; NDX 2120
Support: DJIA 13300 (200DMA); SP500 1460 (300DMA); NAZ 2600 (200DMA); NDX 2050 (100DMA)
Can you say tax hikes?.. In January, the Govenator will declare a California state of fiscal emergency...
under never-before-used rules that would force lawmakers into a special session to address a $14 billion deficit.
Wen: "Near term targets SP500 1455, NDX 2050, came close as the market banged its head on resistance and fell hard."
About 20 points off on both counts, adjusting to SP500 1460, NDX 2050.
NDX gap down 2094 to 2078, bounce back to 2096, plunge to 2069, close 2072. SP500 open 1486, fall to 1476, bounce back to 1486, plunge to close 1467.
Yesterday, "Fee Fi Fo Fum, we smell Con-solid-ation. This market is one guarantor downgrade or failure away from loosing its lifeline grip."
Just a little bit closer... with SillyBank, er Shittybank, I mean, Citibank having to put $49 billion in plunging SIV on its books.
CPI, PPI and all manner of economic reports reveal massive stagflation and an emasculated service based economy that is slowing.
Meanwhile, the "value" of the paper mache foundation for this easy money, debt based, economic ponzi scheme, real estate, is in a global free fall.
Today, odds of further Fed cuts were seen as narrowing, giving rise to the largest dollar rally in two years. Yet, bonds have been punked the last two weeks.
This is not dollar confidence, this is the other central banks getting their chance to debauch and encourage more inflation.
They all talk a good game, but in the end, they and the Fed will continue to do their masters bidding.
Despite all the rate cuts, and the central banks joining to form a glorified pawn shop to help their banking friends...
rates are on the rise, and the TED spread is at a seven year high. Sounds like the confidence has run out on the con, to me.
Yesterday: "Wall street boyz wearing parachutes are stealth jumping. leaving individual investors stuck when the plane nosedives."
We sense this house of cards comes closer to collapse with every passing day.
Jan 2nd could be a day for the "dead man walking" to reckon or wreck on.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Support: DJIA 13300 (200DMA); SP500 1460 (300DMA); NAZ 2600 (200DMA); NDX 2050 (100DMA)
Can you say tax hikes?.. In January, the Govenator will declare a California state of fiscal emergency...
under never-before-used rules that would force lawmakers into a special session to address a $14 billion deficit.
Wen: "Near term targets SP500 1455, NDX 2050, came close as the market banged its head on resistance and fell hard."
About 20 points off on both counts, adjusting to SP500 1460, NDX 2050.
NDX gap down 2094 to 2078, bounce back to 2096, plunge to 2069, close 2072. SP500 open 1486, fall to 1476, bounce back to 1486, plunge to close 1467.
Yesterday, "Fee Fi Fo Fum, we smell Con-solid-ation. This market is one guarantor downgrade or failure away from loosing its lifeline grip."
Just a little bit closer... with SillyBank, er Shittybank, I mean, Citibank having to put $49 billion in plunging SIV on its books.
CPI, PPI and all manner of economic reports reveal massive stagflation and an emasculated service based economy that is slowing.
Meanwhile, the "value" of the paper mache foundation for this easy money, debt based, economic ponzi scheme, real estate, is in a global free fall.
Today, odds of further Fed cuts were seen as narrowing, giving rise to the largest dollar rally in two years. Yet, bonds have been punked the last two weeks.
This is not dollar confidence, this is the other central banks getting their chance to debauch and encourage more inflation.
They all talk a good game, but in the end, they and the Fed will continue to do their masters bidding.
Despite all the rate cuts, and the central banks joining to form a glorified pawn shop to help their banking friends...
rates are on the rise, and the TED spread is at a seven year high. Sounds like the confidence has run out on the con, to me.
Yesterday: "Wall street boyz wearing parachutes are stealth jumping. leaving individual investors stuck when the plane nosedives."
We sense this house of cards comes closer to collapse with every passing day.
Jan 2nd could be a day for the "dead man walking" to reckon or wreck on.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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