Market Soapbox 07/28/08
MON, double double followthrough, DJIA -240 on lower volume with horrible internals. All DOWN cept XOI, XAU.
Bonds up BIG 10 yr -8bps 4.02, $ down vs 1.5748€ & vs 107.355y, WTI up $125.05, gold up $941.8, TED spread up +3bps 1.09%.
SP500 1257, touch 1260, fall to close 1234. NDX 1846 gap down 1841, rise 1850, drop to 1798, close 1802.
07/17: We repeat, this is a "chump jump". Cavaet emptor.
FRI: This THU's action proved this market has no conviction.
FDIC shuts down First Nation Bank of Nevada and First Heritage Bank of Newport.
Repeling from resistance NDX 1850; SP500 1260. Another dead cat bounce? Maybe.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up BIG 10 yr -8bps 4.02, $ down vs 1.5748€ & vs 107.355y, WTI up $125.05, gold up $941.8, TED spread up +3bps 1.09%.
SP500 1257, touch 1260, fall to close 1234. NDX 1846 gap down 1841, rise 1850, drop to 1798, close 1802.
07/17: We repeat, this is a "chump jump". Cavaet emptor.
FRI: This THU's action proved this market has no conviction.
FDIC shuts down First Nation Bank of Nevada and First Heritage Bank of Newport.
Repeling from resistance NDX 1850; SP500 1260. Another dead cat bounce? Maybe.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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