Market Soapbox 05/22/08
THU, flatline, DJIA +24 on lower volume with OK internals. All UP cept XOI, XAU.
Bonds down BIG 10yr +11bps 3.91, $ up vs 1.5717€ & vs 104.143y, WTI -2% $130.62, gold -1% $918.3, TED spread FLAT 0.78%.
SP500 open 1391, rise to 1399, drop to 1390, close 1394. NDX 1957 gap up to open 1962, pop to 1978, drop to 1955, rise to close 1964.
WEN: $133 oil, rampant double digit stagflation and the central bank confesses to being cornered. What or who next? Could it be a name brand?
Housing price declines, Ford & UBS. We sense further downside to NDX 1910 & SP500 1360 range before a rebound.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down BIG 10yr +11bps 3.91, $ up vs 1.5717€ & vs 104.143y, WTI -2% $130.62, gold -1% $918.3, TED spread FLAT 0.78%.
SP500 open 1391, rise to 1399, drop to 1390, close 1394. NDX 1957 gap up to open 1962, pop to 1978, drop to 1955, rise to close 1964.
WEN: $133 oil, rampant double digit stagflation and the central bank confesses to being cornered. What or who next? Could it be a name brand?
Housing price declines, Ford & UBS. We sense further downside to NDX 1910 & SP500 1360 range before a rebound.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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