Market Soapbox 09/08/08
MON, bailout whipsaw, DJIA +290 on exceptionally high volume with OK internals. All UP cept NDX, SOXX, XOI, XAU.
Bonds up 10 yr -3bps 3.67%. $ up BIG vs 1.4139€ & vs 108.22y, WTI up $106.4, gold up $804.9; TED Spread up +6bps 1.11%
SP500 1242, gap up 1249, jump to 1274, dive to 1247, late rally to close 1268. NDX 1768, gap up 1796, dive to 1734, bounce to close 1763.
FRI: Keep your eyes peeled to the sky, it will be a name brand or two...as the Treasury will announce a Phony FNMA & Fraudy FHLMC bailout this weekend.
And they did with the Mother of all bailouts. Duped investors bought in, but $200 billion from the Treasury will not be enough...
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr -3bps 3.67%. $ up BIG vs 1.4139€ & vs 108.22y, WTI up $106.4, gold up $804.9; TED Spread up +6bps 1.11%
SP500 1242, gap up 1249, jump to 1274, dive to 1247, late rally to close 1268. NDX 1768, gap up 1796, dive to 1734, bounce to close 1763.
FRI: Keep your eyes peeled to the sky, it will be a name brand or two...as the Treasury will announce a Phony FNMA & Fraudy FHLMC bailout this weekend.
And they did with the Mother of all bailouts. Duped investors bought in, but $200 billion from the Treasury will not be enough...
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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