Market Soapbox 12/13/07
THU, split tape, DJIA +44 on lower volume with poor internals. All UP cept NDX, MID, SOXX, XAU, RUT.
Bonds down 10 yr yield +9bps 4.17, $ up vs 1.4624E & vs 112.295y, WTI down 2% $92.48, gold down 2% $804
Near term targets SP500 1455, NDX 2050, came closer as the market banged its head on resistance and fell. Since Tues plunge, its sideways chop.
NDX gap down 2101 to 2083, plunge to 2072, bounce to close 2094. SP500 gap down 1486 to 1483, plunge to 1469, bounce to close 1488.
Yesterday, The Fed, BOE, ECB, BOC & Swiss joined to bail out the banks with the worlds largest pawn shop.
Most unimpressive, as LIBOR and the TED spread rose to a seven year high. Fee Fi Fo Fum, we smell Con-solid-ation.
Year end window dressing before the liquidity and solvency squeeze? This market is one guarantor downgrade or failure away from losing its lifeline grip.
Wall street boyz wearing parachutes are stealth jumping. leaving individual investors stuck when the plane nosedives.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +9bps 4.17, $ up vs 1.4624E & vs 112.295y, WTI down 2% $92.48, gold down 2% $804
Near term targets SP500 1455, NDX 2050, came closer as the market banged its head on resistance and fell. Since Tues plunge, its sideways chop.
NDX gap down 2101 to 2083, plunge to 2072, bounce to close 2094. SP500 gap down 1486 to 1483, plunge to 1469, bounce to close 1488.
Yesterday, The Fed, BOE, ECB, BOC & Swiss joined to bail out the banks with the worlds largest pawn shop.
Most unimpressive, as LIBOR and the TED spread rose to a seven year high. Fee Fi Fo Fum, we smell Con-solid-ation.
Year end window dressing before the liquidity and solvency squeeze? This market is one guarantor downgrade or failure away from losing its lifeline grip.
Wall street boyz wearing parachutes are stealth jumping. leaving individual investors stuck when the plane nosedives.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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