Market Observations 08/28/06 UPDATED
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead and someone else has taken his place.
The "sense" that home builders and mortgage lenders have bottomed is for those who enjoy catching falling knives, as the worst is yet to come.
Which way is up? 2 weeks ago analyst downgrades on tech, 1 week ago, upgrades with lowered guidance from Semis? This week analyst upgrade on Intel (+2.3%).
Read Flecks latest "Denial is a river in tech land" for some ugly facts on why this Tech rally is a head fake.
The markets hope of mitigating energy "pass through" inflation through falling oil prices is somewhat illusory and delusional.
Oil would have to pull back into the low 50's to have any meaningful effect or undo part of the damage already inflicted on the supply chain. Such occurance would require a substantial global economic downturn.
Friday: "Perhaps a small drift up with month end window dressing?" Today, albeit convictionless, looked like it with oil pulling back and vacation coming to an end.
Watch RUT 717 resistance as a demarcation for direction and re read latter part of 08/24 Market Soapbox for more observations on the markets changing sentiment.
What will the 2 & 5 yr auctions bring TUE & WEN?? A liquidity drain? What about knee jerk reactions? TUE FOMC minutes, WEN GDP & chain deflator, THU ECB rate, Factory Orders, FRI construction spending, ISM & non farms payroll? Lets see...
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!!!
The "sense" that home builders and mortgage lenders have bottomed is for those who enjoy catching falling knives, as the worst is yet to come.
Which way is up? 2 weeks ago analyst downgrades on tech, 1 week ago, upgrades with lowered guidance from Semis? This week analyst upgrade on Intel (+2.3%).
Read Flecks latest "Denial is a river in tech land" for some ugly facts on why this Tech rally is a head fake.
The markets hope of mitigating energy "pass through" inflation through falling oil prices is somewhat illusory and delusional.
Oil would have to pull back into the low 50's to have any meaningful effect or undo part of the damage already inflicted on the supply chain. Such occurance would require a substantial global economic downturn.
Friday: "Perhaps a small drift up with month end window dressing?" Today, albeit convictionless, looked like it with oil pulling back and vacation coming to an end.
Watch RUT 717 resistance as a demarcation for direction and re read latter part of 08/24 Market Soapbox for more observations on the markets changing sentiment.
What will the 2 & 5 yr auctions bring TUE & WEN?? A liquidity drain? What about knee jerk reactions? TUE FOMC minutes, WEN GDP & chain deflator, THU ECB rate, Factory Orders, FRI construction spending, ISM & non farms payroll? Lets see...
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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