Market Soapbox 04/12 & 04/13/06
Resistance: DJIA 11325; SP500 1310; Nasdaq 2350; NDX 1735
Support: DJIA 11000; SP500 1280; Nasdaq 2290; NDX 1680
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Economic reports in todays other post.
GE reported in line with expectations, but the stock slid 1.65% due to unchanged forward guidance. AMD forecast revenues flat to down sequentially, punished -10%.
Fed Head Donald Kohn: "The economic climate appears to be one in which further increases in resource utilization, in combination with the elevated prices of energy and other commodities, have the potential to add to inflation pressure,"
The 10 yr is above 5%: Bonds DOWN BIG with the 30 yr yield rising @ 5.11%; 10 yr @ 5.05; 5 yr @ 4.97; 2yr @ 4.95; 6 mo @ 4.94. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
Mon, another ugly split tape day on lower volume with terrible internals, DJIA +21. DJUA, XOI UP. DJTA, NDX, SOX, MID & RUT DOWN. Tues, 3rd day down the steps, a bloodbath on higher volume with hideous internals, DJIA -51.
Wen, DJIA +40 on tepid holiday volume with midlin internals. Semis, Gold Bugs, Biotech, Healthcare, SOX, XAU, RUT UP, Energy DOWN. Bonds DOWN 10yr 4.98.
Today, DJIA +8 on light volume with midlin internals. This week DJIA +18, since 09/23/05 DJIA +448.
Indexes UP: DJTA, RUT, XAU, SOX, NAZ, NDX. DOWN: DJUA.
Sectors UP: Airlines, Gold Bugs, Biotech, Tech, Brokers. DOWN: Telecom, Utilities, Real Estate, REIT's
Overseas: DAX, CAC, FTSE, Hang Seng & Nikkei 225 all UP.
Dollar DOWN vs. Euro 1.2113 & vs. Yen 118.47, XAU & gold UP @ 601.90, XOI & crude UP @ 69.48, CRB commodities index UP @ 342.32. Aluminum +2%, Nicklel +1.75%
No conviction in the last 2 day bounce as institutional money exited for the holidays. Oil prices still hovering near 7 month highs despite crude inventory at an 8 year high and bond yields over 4 year highs.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
Support: DJIA 11000; SP500 1280; Nasdaq 2290; NDX 1680
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Economic reports in todays other post.
GE reported in line with expectations, but the stock slid 1.65% due to unchanged forward guidance. AMD forecast revenues flat to down sequentially, punished -10%.
Fed Head Donald Kohn: "The economic climate appears to be one in which further increases in resource utilization, in combination with the elevated prices of energy and other commodities, have the potential to add to inflation pressure,"
The 10 yr is above 5%: Bonds DOWN BIG with the 30 yr yield rising @ 5.11%; 10 yr @ 5.05; 5 yr @ 4.97; 2yr @ 4.95; 6 mo @ 4.94. 2yr above 10 yr 12/27 - 03/07 & 03/20 - 3/29. 2yr above 30 yr 02/09 - 03/07 & 03/21 - 3/29.
Mon, another ugly split tape day on lower volume with terrible internals, DJIA +21. DJUA, XOI UP. DJTA, NDX, SOX, MID & RUT DOWN. Tues, 3rd day down the steps, a bloodbath on higher volume with hideous internals, DJIA -51.
Wen, DJIA +40 on tepid holiday volume with midlin internals. Semis, Gold Bugs, Biotech, Healthcare, SOX, XAU, RUT UP, Energy DOWN. Bonds DOWN 10yr 4.98.
Today, DJIA +8 on light volume with midlin internals. This week DJIA +18, since 09/23/05 DJIA +448.
Indexes UP: DJTA, RUT, XAU, SOX, NAZ, NDX. DOWN: DJUA.
Sectors UP: Airlines, Gold Bugs, Biotech, Tech, Brokers. DOWN: Telecom, Utilities, Real Estate, REIT's
Overseas: DAX, CAC, FTSE, Hang Seng & Nikkei 225 all UP.
Dollar DOWN vs. Euro 1.2113 & vs. Yen 118.47, XAU & gold UP @ 601.90, XOI & crude UP @ 69.48, CRB commodities index UP @ 342.32. Aluminum +2%, Nicklel +1.75%
No conviction in the last 2 day bounce as institutional money exited for the holidays. Oil prices still hovering near 7 month highs despite crude inventory at an 8 year high and bond yields over 4 year highs.
Keep it tween da ditches, we take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Just my opinion, I could be wrong, this is The Nattering Naybob and your NOT!!!
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