Market Soapbox 04/09/08
WEN, followthrough, DJIA -49 on tepid volume with horrible internals. All DOWN cept DJUA, SOXX, XOI, XAU.
Bonds up 10 yr yield -8bps 3.48, $ down vs 1.5822€ & vs 101.832y, WTI +2% $110.83, gold +2% $937.5 TED spread up +9bps 1.42%
SUN: BOE & ECB rate cuts with rosy report from GE could send us back to test 1400.
However, we sense something very nasty coming out of the woodshed, and it could be a major name brand.
SP500 open 1365, rise to 1368 fall to 1349, close 1354. NDX open 1848, fall to 1815, close 1826.
Oil touching $112 intraday, Wholesale Inventories, a disasterous sales decline and inventory bulge.
SP500 1350 & NDX 1815 support gettting tested. Do tomorrows rate cuts get a pop?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not
Bonds up 10 yr yield -8bps 3.48, $ down vs 1.5822€ & vs 101.832y, WTI +2% $110.83, gold +2% $937.5 TED spread up +9bps 1.42%
SUN: BOE & ECB rate cuts with rosy report from GE could send us back to test 1400.
However, we sense something very nasty coming out of the woodshed, and it could be a major name brand.
SP500 open 1365, rise to 1368 fall to 1349, close 1354. NDX open 1848, fall to 1815, close 1826.
Oil touching $112 intraday, Wholesale Inventories, a disasterous sales decline and inventory bulge.
SP500 1350 & NDX 1815 support gettting tested. Do tomorrows rate cuts get a pop?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not
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