Market Soapbox 02/06/08
WEN, up 126 then pfffftt, DJIA -65 on average volume with lousy internals. All DOWN cept DJTA, XAU.
Bonds down 10 yr yield +3bps 3.60, $ up vs 1.4637E & down vs 106.445y, WTI -1.5% $87.13, gold +1.5% $904.2 TED spread up +7bps 1.05%.
SP500 gap up 1336 to 1339, pop to 1351, plunge to close 1326 (800DMA). NDX gap up 1773 to 1786, pop to 1795, plunge to close 1739.
A hint of truth? Philly Fed Head Plosser said rate cuts won't solve bond insurers' problems...
and conceded that there may be early signs the Fed's credibility is weakening. Overnight, Nikkei -4.7%; Hang Seng -5.4%.
This dead man walking gets a Euro kick or stomp on the morrow, BOE & ECB rate announcements...
Unilever & Deutsche Bank report. Violation of SP500 1325 on a closing basis means redux of 1270 low.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield +3bps 3.60, $ up vs 1.4637E & down vs 106.445y, WTI -1.5% $87.13, gold +1.5% $904.2 TED spread up +7bps 1.05%.
SP500 gap up 1336 to 1339, pop to 1351, plunge to close 1326 (800DMA). NDX gap up 1773 to 1786, pop to 1795, plunge to close 1739.
A hint of truth? Philly Fed Head Plosser said rate cuts won't solve bond insurers' problems...
and conceded that there may be early signs the Fed's credibility is weakening. Overnight, Nikkei -4.7%; Hang Seng -5.4%.
This dead man walking gets a Euro kick or stomp on the morrow, BOE & ECB rate announcements...
Unilever & Deutsche Bank report. Violation of SP500 1325 on a closing basis means redux of 1270 low.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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