Market Soapbox 04/01/08
TUE, the stock market closed and all capital was ceased by the almost bankrupt Fed...
April Fools Buyin, DJIA +391 on averge volume with pretty internals. All UP cept XAU.
Bonds down BIG 10 yr yield +16bps 3.57. $ up BIG vs 1.5604€ & vs 101.95y, WTI down $101.08, gold -3.5% $887.8 TED spread down -4bps 1.29%
MON 03/24: Hitting resistance at 1350, perhaps a dip then surge to test major resistance at 1400. It happened.
MON 03/31: We expect month & quarter fund inflow and sector rotation to generate an irrational bounce to SP500 1380 & NDX 1885. Almost there.
SP500 1322 gap up to open 1326, rocket to close 1370. NDX 1781 gap up to open 1805, rocket to close 1855.
MON: Then keep your eyes peeled to the sky, an overhead hoist could snap and it might be a name brand that pancakes this dead man walkin.
WEN 03/26: NDX 1800 & SP500 1350 like magnets. And they will be again. By Friday, a retrace starts.
I'm starvin and have no money, so excuse me while I go out and pick some noodles off my spaghetti tree.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
April Fools Buyin, DJIA +391 on averge volume with pretty internals. All UP cept XAU.
Bonds down BIG 10 yr yield +16bps 3.57. $ up BIG vs 1.5604€ & vs 101.95y, WTI down $101.08, gold -3.5% $887.8 TED spread down -4bps 1.29%
MON 03/24: Hitting resistance at 1350, perhaps a dip then surge to test major resistance at 1400. It happened.
MON 03/31: We expect month & quarter fund inflow and sector rotation to generate an irrational bounce to SP500 1380 & NDX 1885. Almost there.
SP500 1322 gap up to open 1326, rocket to close 1370. NDX 1781 gap up to open 1805, rocket to close 1855.
MON: Then keep your eyes peeled to the sky, an overhead hoist could snap and it might be a name brand that pancakes this dead man walkin.
WEN 03/26: NDX 1800 & SP500 1350 like magnets. And they will be again. By Friday, a retrace starts.
I'm starvin and have no money, so excuse me while I go out and pick some noodles off my spaghetti tree.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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