Market Soapbox 07/21/08
MON, hesitation, DJIA -29 on tepid volume with midlin internals. All DOWN cept DJUA, MID, RUT, XAU, XOI.
Bonds up 10 yr -2bps 4.06, $ down vs 1.5898€ & vs 106.705y, WTI +1% $130.28, gold up $963.7, TED spread up +6bps 1.38%.
SP500 1261, gap up open 1265, rise 1268, fall to 1255, bounce to close 1260. NDX 1823, gap up open 1830, pop to 1838, fall to 1809, close 1820.
WEN: the suckers bounce we have been looking for as SP Financials Index +9.5%, a record. Do not be fooled...
THU: We repeat, this is a "chump jump". Caveat emptor.
BofA beat the number, under the sheets, a 41% profit decline, excluding Countrywides $2.3 billion loss.
SP500 repelled at key resistance of 1270, WaMu + Wachovia = downswing?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr -2bps 4.06, $ down vs 1.5898€ & vs 106.705y, WTI +1% $130.28, gold up $963.7, TED spread up +6bps 1.38%.
SP500 1261, gap up open 1265, rise 1268, fall to 1255, bounce to close 1260. NDX 1823, gap up open 1830, pop to 1838, fall to 1809, close 1820.
WEN: the suckers bounce we have been looking for as SP Financials Index +9.5%, a record. Do not be fooled...
THU: We repeat, this is a "chump jump". Caveat emptor.
BofA beat the number, under the sheets, a 41% profit decline, excluding Countrywides $2.3 billion loss.
SP500 repelled at key resistance of 1270, WaMu + Wachovia = downswing?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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