Market Soapbox 04/19 & 04/20/06
Resistance: DJIA 11390; SP500 1325; Nasdaq 2380; NDX 1745
Support: DJIA 11075; SP500 1285; Nasdaq 2310; NDX 1695
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Yesterday DJTA, XAU & XOI all time high. Today, MID & RUT all time high, intraday TMWX, DJIA, SP500 & NAZ at 5 year highs. OEX at 4 year high.
GM up 10% on narrower losses, best single day since 1987. Google up 6% on higher profit, EBay down on disappointing forward guidance 9%. Apple +3% on increased profits. Economic reports in todays other post.
Bonds DOWN with the 30 yr yield rising @ 5.14%; 10 yr @ 5.04; 5 yr @ 4.92; 2yr @ 4.88; 6 mo @ 4.89. 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, oil went over $70, and the money went into rescuing the bond market. Another ugly day for stocks on higher volume with terrible internals, DJIA -63.
All majors beat DOWN except DJUA, NYSE, XAU, XOI. Airlines stomped -6%, commodity, oil, natural gas and gold bugs all up BIG. All base metals, oil and natural gas jumped up BIG.
TUE, oil went over $73, but an expected bounce on short covering & higher volume, with a media FOMC twist and gorgeous internals, DJIA +195, biggest gain since October.
WEN, DJIA +10 on lower volume with nice internals. DJTA, NAZ, MID, RUT, SOX, XOI, XAU all up BIG. Oil over $74, Gold $636, all base metals and energy commods UP BIGTIME.
THUR, a schizo split tape day, DJIA +64 on steady volume with ugly internals. Yea, ugly. Gold & commods reversed today, big time. This week DJIA +206, since 09/23/05 DJIA +654.
Indexes UP: DJUA (despite rising yields), SOX. DOWN: NYSE, DJTA, NAZ, NDX, with RUT, XOI & XAU -6% POUNDED as energy got drilled & precious metals, mining companies got shafted. (no puns intended)
Sectors UP: Pharma, Utilities, Heathcare, Semis. DOWN: Airlines, Gold Bugs -7%, Networking, Natural Gas, Commodity
Overseas: DAX, CAC UP, FTSE DOWN, Hang Seng UP & Nikkei 225 DOWN.
Dollar UP (1st time in 5 days) vs. Euro 1.2367 & vs. Yen 116.56, XAU -6% & gold DOWN 2% @ 623.10, XOI & crude DOWN @ 73.69, CRB commodities index DOWN @ 353.94.
Commodities got pounded down on cross asset trading today. Apparently alot of investors buying in recently have put in very tight stop loss orders and they took their profits today. Record highs for the indices, isn't it just perfect?
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 11075; SP500 1285; Nasdaq 2310; NDX 1695
In our top story tonight, Generalissimo Francisco Franco is STILL dead. Yesterday DJTA, XAU & XOI all time high. Today, MID & RUT all time high, intraday TMWX, DJIA, SP500 & NAZ at 5 year highs. OEX at 4 year high.
GM up 10% on narrower losses, best single day since 1987. Google up 6% on higher profit, EBay down on disappointing forward guidance 9%. Apple +3% on increased profits. Economic reports in todays other post.
Bonds DOWN with the 30 yr yield rising @ 5.14%; 10 yr @ 5.04; 5 yr @ 4.92; 2yr @ 4.88; 6 mo @ 4.89. 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, oil went over $70, and the money went into rescuing the bond market. Another ugly day for stocks on higher volume with terrible internals, DJIA -63.
All majors beat DOWN except DJUA, NYSE, XAU, XOI. Airlines stomped -6%, commodity, oil, natural gas and gold bugs all up BIG. All base metals, oil and natural gas jumped up BIG.
TUE, oil went over $73, but an expected bounce on short covering & higher volume, with a media FOMC twist and gorgeous internals, DJIA +195, biggest gain since October.
WEN, DJIA +10 on lower volume with nice internals. DJTA, NAZ, MID, RUT, SOX, XOI, XAU all up BIG. Oil over $74, Gold $636, all base metals and energy commods UP BIGTIME.
THUR, a schizo split tape day, DJIA +64 on steady volume with ugly internals. Yea, ugly. Gold & commods reversed today, big time. This week DJIA +206, since 09/23/05 DJIA +654.
Indexes UP: DJUA (despite rising yields), SOX. DOWN: NYSE, DJTA, NAZ, NDX, with RUT, XOI & XAU -6% POUNDED as energy got drilled & precious metals, mining companies got shafted. (no puns intended)
Sectors UP: Pharma, Utilities, Heathcare, Semis. DOWN: Airlines, Gold Bugs -7%, Networking, Natural Gas, Commodity
Overseas: DAX, CAC UP, FTSE DOWN, Hang Seng UP & Nikkei 225 DOWN.
Dollar UP (1st time in 5 days) vs. Euro 1.2367 & vs. Yen 116.56, XAU -6% & gold DOWN 2% @ 623.10, XOI & crude DOWN @ 73.69, CRB commodities index DOWN @ 353.94.
Commodities got pounded down on cross asset trading today. Apparently alot of investors buying in recently have put in very tight stop loss orders and they took their profits today. Record highs for the indices, isn't it just perfect?
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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