Market Soapbox 05/13/08
TUE, split tape, DJIA -44 on light volume with OK internals. All UP cept DJUA, SP500, XMI, OEX, XAU.
Bonds down BIG 10 yr yield +13bps 3.92; $ up vs 1.5472€ & vs 104.65y; WTI +1.2% $125.8; gold -1.7% $869.6; TED Spread down -2bps 0.86%
SP500 open 1404, touch 1406, fall to 1396, rise close 1403 . NDX open 1997, fall to 1981, rise to 2004, close 2000.
THU: SP500 testing 1400-1405 level again. A redux as the market ignored bad news.
MON: Tomorrow WalMart & Freddie, will they disappoint? WalMarts cautious outlook did, FHLMC tomorrow.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down BIG 10 yr yield +13bps 3.92; $ up vs 1.5472€ & vs 104.65y; WTI +1.2% $125.8; gold -1.7% $869.6; TED Spread down -2bps 0.86%
SP500 open 1404, touch 1406, fall to 1396, rise close 1403 . NDX open 1997, fall to 1981, rise to 2004, close 2000.
THU: SP500 testing 1400-1405 level again. A redux as the market ignored bad news.
MON: Tomorrow WalMart & Freddie, will they disappoint? WalMarts cautious outlook did, FHLMC tomorrow.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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