Market Soapbox 11/06/07
TUE, late day surge, DJIA +118 on lower volume with OK internals. All UP cept DJUA.
Bonds down 10 yr yield +4bps 4.37, $ down vs 1.4553E & up vs 114.71y, WTI crude up 3% $96.7, gold up 1.5% $823.4
Yesterday: "Will we get a rebound to 1540 zone? Today's landmine, Citibank. Tomorrow, IndyMac?"
NDX gap up 2200 to 2212, fall to 2188, rise to close 2224. SP500 gap up 1502 to 1505, fall to 1499, rise to close 1520. Oil above $97 intraday.
From MSN's Jubak:
"Bernanke is a wuss and his Fed, like that of his predecessor, can't abandon reason fast enough. It surrenders to Wall Street's demands regardless of consequences."
Caveat Emptor: Since the Sept 18th Fed cut:
over 50% of the gains in the NAZ are from 3 stocks: Apple, Google and Research in Motion. In the SP500 over 50% of the stocks are below their 200 DMA.
Indymac news was ignored, tomorrow AIG, Cisco, GM, Societe Generale. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +4bps 4.37, $ down vs 1.4553E & up vs 114.71y, WTI crude up 3% $96.7, gold up 1.5% $823.4
Yesterday: "Will we get a rebound to 1540 zone? Today's landmine, Citibank. Tomorrow, IndyMac?"
NDX gap up 2200 to 2212, fall to 2188, rise to close 2224. SP500 gap up 1502 to 1505, fall to 1499, rise to close 1520. Oil above $97 intraday.
From MSN's Jubak:
"Bernanke is a wuss and his Fed, like that of his predecessor, can't abandon reason fast enough. It surrenders to Wall Street's demands regardless of consequences."
Caveat Emptor: Since the Sept 18th Fed cut:
over 50% of the gains in the NAZ are from 3 stocks: Apple, Google and Research in Motion. In the SP500 over 50% of the stocks are below their 200 DMA.
Indymac news was ignored, tomorrow AIG, Cisco, GM, Societe Generale. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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