Market Soapbox 07/24/08
THU, double triple dip, DJIA -283 on higher volume with ugly internals. All DOWN BIG.
Bonds up BIG -11bps 10 yr 4%. $ up vs 1.567€ & down vs 107.11y, WTI up $125.58, gold up $928.3; TED Spread down -9bps 1.16%
SP500 1283, drop to close 1252. NDX 1845 gap up open 1851, pop 1854, drop to close 1816.
Last THU: We repeat, this is a "chump jump". Cavaet emptor.
A chump jump in spades as initial claims +400K and existing homes 10 year low floor this dead man walkin.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up BIG -11bps 10 yr 4%. $ up vs 1.567€ & down vs 107.11y, WTI up $125.58, gold up $928.3; TED Spread down -9bps 1.16%
SP500 1283, drop to close 1252. NDX 1845 gap up open 1851, pop 1854, drop to close 1816.
Last THU: We repeat, this is a "chump jump". Cavaet emptor.
A chump jump in spades as initial claims +400K and existing homes 10 year low floor this dead man walkin.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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