Market Soapbox 07/10/07
TUE, triple digit plunge, DJIA -148 on average volume with fugly internals. All UP cept DJUA, XAU.
Bonds up BIG 10 yr yield -11 bps 5.03, $ punked vs 1.3729E & vs 121.985Y, WTI crude up $72.81, gold up $664.4
Friday: "Next week, bad news? import & export prices, retail sales, Bank Of Canada rate & Options Unwind."
Today, options unwind plunging through MAX PAIN, bad reports, housing & sub prime woes. $4.25B in Fed reanimation. Churning sideways & rangebound since 05/18/07.
NDX 1992 to 1971; SP500 1531 to 1510, DJUA hanging 506 to 500, SOXX 520 to 517 as all the money went to bonds. Could 75 DMA 1495 SP500 be revisted?
Until SP500 closes above 1550 for 2 days, we reserve judgment on an overall change in market direction.
Expect the $ plunge to have an effect. Bad retail sales news will exacerbate Friday the 13th!
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Bonds up BIG 10 yr yield -11 bps 5.03, $ punked vs 1.3729E & vs 121.985Y, WTI crude up $72.81, gold up $664.4
Friday: "Next week, bad news? import & export prices, retail sales, Bank Of Canada rate & Options Unwind."
Today, options unwind plunging through MAX PAIN, bad reports, housing & sub prime woes. $4.25B in Fed reanimation. Churning sideways & rangebound since 05/18/07.
NDX 1992 to 1971; SP500 1531 to 1510, DJUA hanging 506 to 500, SOXX 520 to 517 as all the money went to bonds. Could 75 DMA 1495 SP500 be revisted?
Until SP500 closes above 1550 for 2 days, we reserve judgment on an overall change in market direction.
Expect the $ plunge to have an effect. Bad retail sales news will exacerbate Friday the 13th!
Often wrong, but never in doubt, this is the Nattering Naybob and your not!
Comments