Market Soapbox 03/29/07
With Hendrix playing in the background....
Manic depression is touching my soul, I know what I want but I just dont know...
THU, manic with a late rally, DJIA +48 on average volume and midlin internals. All UP cept SOXX, XAU.
Bonds down 10 yr yield +2 bps 4.64, $ up BIG vs 117.96y & down vs 1.3334E, gold down $667.6, WTI crude up BIG +3% $66.03.
Month end window dressing started after 1:30 EST today as the SP500 bounced off support at 1413 to close at 1422.5.
Semis got punked again, tech is weak, oil jumping big again, energy is in play, yen devalued, a carry trade unwind respit.
Manic has been the markets M.O. of late. It would not surprise me to see the SP500 rally up to 1458 by next Friday...
then again it would not surprise me to see it plunge to 1323 either.
At 1323 an excellent buying opportunity? At 1458, Twin Peaks, a parachute and Bermuda Shorts? Either way, patience is a virtue.
Don't worry, be happy, just watch and wait for the setup, when the target enters the crosshairs, squeeze the trigger...
Tomorrow, month end window dressing overcomes another decline in construction spending and keeps the SP500 in the green for Q1?
Also, Core PCE, Chicago PMI & Mon. ISM weigh in...
"Music, sweet music... I wish I could caress, caress, caress... Manic depression is a frustrating mess..."
Manic depression is touching my soul, I know what I want but I just dont know...
THU, manic with a late rally, DJIA +48 on average volume and midlin internals. All UP cept SOXX, XAU.
Bonds down 10 yr yield +2 bps 4.64, $ up BIG vs 117.96y & down vs 1.3334E, gold down $667.6, WTI crude up BIG +3% $66.03.
Month end window dressing started after 1:30 EST today as the SP500 bounced off support at 1413 to close at 1422.5.
Semis got punked again, tech is weak, oil jumping big again, energy is in play, yen devalued, a carry trade unwind respit.
Manic has been the markets M.O. of late. It would not surprise me to see the SP500 rally up to 1458 by next Friday...
then again it would not surprise me to see it plunge to 1323 either.
At 1323 an excellent buying opportunity? At 1458, Twin Peaks, a parachute and Bermuda Shorts? Either way, patience is a virtue.
Don't worry, be happy, just watch and wait for the setup, when the target enters the crosshairs, squeeze the trigger...
Tomorrow, month end window dressing overcomes another decline in construction spending and keeps the SP500 in the green for Q1?
Also, Core PCE, Chicago PMI & Mon. ISM weigh in...
"Music, sweet music... I wish I could caress, caress, caress... Manic depression is a frustrating mess..."
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