Market Soapbox 05/27/08
MON, Memorial Day, Markets Closed.
TUE, bounce, DJIA +69 on lower volume with OK internals. All UP cept XAU, XOI.
Bonds down big 10 yr yield +8bps 3.92, $ up big vs 1.5696€ & vs 104.185y, WTI -3% $128.4, gold -2% $910.5, TED spread down -5bps 0.75%.
SP500 open 1375, rise to close 1385. NDX 1959 gap up to open 1965, rise to close 1995.
Greenspun in an interview with the FT "the U.S. is more likely to have a recession than not."
According to Reuters.com: Warren Buffett sees "a long, deep recession".
THU: We sense further downside to NDX 1910 & SP500 1360 range... then we expect another irrational bounce up to follow.
Did the bounce up start today off SP500 1373? Lets see.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
TUE, bounce, DJIA +69 on lower volume with OK internals. All UP cept XAU, XOI.
Bonds down big 10 yr yield +8bps 3.92, $ up big vs 1.5696€ & vs 104.185y, WTI -3% $128.4, gold -2% $910.5, TED spread down -5bps 0.75%.
SP500 open 1375, rise to close 1385. NDX 1959 gap up to open 1965, rise to close 1995.
Greenspun in an interview with the FT "the U.S. is more likely to have a recession than not."
According to Reuters.com: Warren Buffett sees "a long, deep recession".
THU: We sense further downside to NDX 1910 & SP500 1360 range... then we expect another irrational bounce up to follow.
Did the bounce up start today off SP500 1373? Lets see.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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