Market Soapbox 08/19/08
TUE, triple digit followthrough, DJIA -131 on lower volume with dismal internals. All DOWN cept DJUA, XAU, XOI.
Bonds down 10 yr +2bps 3.83, $ down vs 1.4786€ & vs 109.667y, WTI +2% $114.95, gold +2% $821.5, TED spread down -3bps 1.02%.
SP500 1278, drop to 1263, close 1267. NDX 1932, gap down to 1924, hop to 1933, dive to 1900, bounce to close 1908.
Two weeks ago: We expect this chump pump to end around Aug 18 +/- 2 days.
Last week: Critical action coming through next WEN.
MON: Major concern over FHLMC & FNMA needing a near term bailout.
Here's the Barron's article detailing the endgame for Phony and Fraudy.
Today, Freddie sold new five-year notes at 4.172%, which is 113 basis points more than the 5 year Treasury Note.
From our dead pool to reality: Lehman has approached potential bidders about buying a piece of its investment-management unit.
Talk that Lehman is planning to sell large amounts of assets could point to an extremely ugly third quarter.
Ditto that for real estate, the economy and the markets.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr +2bps 3.83, $ down vs 1.4786€ & vs 109.667y, WTI +2% $114.95, gold +2% $821.5, TED spread down -3bps 1.02%.
SP500 1278, drop to 1263, close 1267. NDX 1932, gap down to 1924, hop to 1933, dive to 1900, bounce to close 1908.
Two weeks ago: We expect this chump pump to end around Aug 18 +/- 2 days.
Last week: Critical action coming through next WEN.
MON: Major concern over FHLMC & FNMA needing a near term bailout.
Here's the Barron's article detailing the endgame for Phony and Fraudy.
Today, Freddie sold new five-year notes at 4.172%, which is 113 basis points more than the 5 year Treasury Note.
From our dead pool to reality: Lehman has approached potential bidders about buying a piece of its investment-management unit.
Talk that Lehman is planning to sell large amounts of assets could point to an extremely ugly third quarter.
Ditto that for real estate, the economy and the markets.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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