Market Soapbox 06/13/07
WEN, triple digit bounce, DJIA +187 on below average volume with pretty internals. All UP BIG.
Bonds up 10yr yield -9 bps 5.21, $ up vs 122.64y & down vs 1.3313E, WTI crude up 1% $66.26, gold up $652.7
DJIA up 38 for 54; 48 record closes since Oct.; 26 YTD; and on a parallel with 1989 Nikkei 225: the DJIA is now 45 for 65.
Over the last 3 weeks, some mighty magnetic numbers... SOXX 490-500, RUT 835, NDX 1905, MID 900 and SP500 1505. They still hold this market captive...
Yesterday: "We sense, as long as bonds continue to cave, so will everything else, and we mean everything as in globally." Watch bonds & 1488 SP500 very carefully...
Today $8B in Temp NY Fed support, bonds rally -9 bps, support at 1488 held with the SP500 bouncing from 1493 to 1515 on program trading & short covering.
Large herks & jerks with volatility may be pointing to a near term topping. Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds up 10yr yield -9 bps 5.21, $ up vs 122.64y & down vs 1.3313E, WTI crude up 1% $66.26, gold up $652.7
DJIA up 38 for 54; 48 record closes since Oct.; 26 YTD; and on a parallel with 1989 Nikkei 225: the DJIA is now 45 for 65.
Over the last 3 weeks, some mighty magnetic numbers... SOXX 490-500, RUT 835, NDX 1905, MID 900 and SP500 1505. They still hold this market captive...
Yesterday: "We sense, as long as bonds continue to cave, so will everything else, and we mean everything as in globally." Watch bonds & 1488 SP500 very carefully...
Today $8B in Temp NY Fed support, bonds rally -9 bps, support at 1488 held with the SP500 bouncing from 1493 to 1515 on program trading & short covering.
Large herks & jerks with volatility may be pointing to a near term topping. Often wrong, but never in doubt, this is the Nattering Naybob and your not!
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