Market Soapbox 05/19 & 05/20/08
MON, split tape, DJIA +52 on light volume with nice internals.
DJIA was up 194, NDX touched 2050, SP500 1440, then the market fell hard.
FRI: We smell SP500 1455 coming along with NDX 2082. A nice drop from 1440 and 2050
TUE, double triple followthrough, DJIA -199 on light volume with ugly internals. All DOWN cept DJUA, XAU, XOI.
Bonds up BIG 10 yr yield -8bps 3.77; $ down vs 1.5658€ & vs 103.53y; WTI +1% $128.94; gold +2% $919.5; TED Spread down -6bps 0.80%
SP500 open 1424, drop to 1409, close 1413. NDX open 2008, drop to 1987, close 2000.
Further drop from 1440 & 2050 as $130 Oil and already rampant double digit stagflation have the central banks cornered.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
DJIA was up 194, NDX touched 2050, SP500 1440, then the market fell hard.
FRI: We smell SP500 1455 coming along with NDX 2082. A nice drop from 1440 and 2050
TUE, double triple followthrough, DJIA -199 on light volume with ugly internals. All DOWN cept DJUA, XAU, XOI.
Bonds up BIG 10 yr yield -8bps 3.77; $ down vs 1.5658€ & vs 103.53y; WTI +1% $128.94; gold +2% $919.5; TED Spread down -6bps 0.80%
SP500 open 1424, drop to 1409, close 1413. NDX open 2008, drop to 1987, close 2000.
Further drop from 1440 & 2050 as $130 Oil and already rampant double digit stagflation have the central banks cornered.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Comments