Market Soapbox 01/08/08
TUE, double triple slam, DJIA -238 on higher volume with ugly internals. All DOWN BIG cept XAU.
Bonds up 10 yr yield -1bps 3.82, $ down vs 1.4712E & vs 108.993y, WTI up 1.5% $96.55, gold +2% $879.6. TED spread down -3bps 1.27%.
Tech disconnected... AT&T's CEO Randall Stephenson: we are experiencing "softness" in broadband and in phone line businesses...
as we disconnect more home phone and broadband internet customers for failing to pay their bills.
Fri: "we see NDX 1900-1910 and SP500 1370 in clear sight." We are there.
NDX gap up 1957 to 1965, rise to 1983, plunge to close 1910. SP500 open 1415, rise to 1430, plunge to close 1390.
NDX sitting on 300DMA, 1875 350 DMA below. SP500 fell from 400DMA, 1370 below. We sense a bounce around SP500 1373.
This dead man walking is one insolvency away from truly going over the edge.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up 10 yr yield -1bps 3.82, $ down vs 1.4712E & vs 108.993y, WTI up 1.5% $96.55, gold +2% $879.6. TED spread down -3bps 1.27%.
Tech disconnected... AT&T's CEO Randall Stephenson: we are experiencing "softness" in broadband and in phone line businesses...
as we disconnect more home phone and broadband internet customers for failing to pay their bills.
Fri: "we see NDX 1900-1910 and SP500 1370 in clear sight." We are there.
NDX gap up 1957 to 1965, rise to 1983, plunge to close 1910. SP500 open 1415, rise to 1430, plunge to close 1390.
NDX sitting on 300DMA, 1875 350 DMA below. SP500 fell from 400DMA, 1370 below. We sense a bounce around SP500 1373.
This dead man walking is one insolvency away from truly going over the edge.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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