Market Soapbox 09/10/08
WEN, wavy gravy, DJIA +38 on average volume with OK internals. All UP.
Bonds down +5bps 10 yr 3.62, $ up BIG vs 1.3964€ & vs 107.435y, WTI up $103.32, gold down $758.4, TED spread up +1bps 1.17%.
SP500 1224, rise to 1227, fall to 1221, rise to 1243, fade to close 1232. NDX 1721, gap up 1743, fall to 1725, rise to 1754, fade to close 1738.
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.
MON: And they did with the Mother of all bailouts. But $200 billion from the Treasury will not be enough.
TUE: Keep your eyes peeled to the sky, it will be another name brand. Lehman plunged 45%; AIG -20%, both on capital concerns.
Today, Lehman Brothers preannounced Q3 earnings, a $3.9 billion loss. WaMu -26% on news that potential suitors are walking away, and fast.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down +5bps 10 yr 3.62, $ up BIG vs 1.3964€ & vs 107.435y, WTI up $103.32, gold down $758.4, TED spread up +1bps 1.17%.
SP500 1224, rise to 1227, fall to 1221, rise to 1243, fade to close 1232. NDX 1721, gap up 1743, fall to 1725, rise to 1754, fade to close 1738.
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.
MON: And they did with the Mother of all bailouts. But $200 billion from the Treasury will not be enough.
TUE: Keep your eyes peeled to the sky, it will be another name brand. Lehman plunged 45%; AIG -20%, both on capital concerns.
Today, Lehman Brothers preannounced Q3 earnings, a $3.9 billion loss. WaMu -26% on news that potential suitors are walking away, and fast.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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