Market Soapbox 11/20/07
Sorry for the lateness, old reliable PC crapped out today, kinda like the GSE's.
TUE, wavy gravy, DJIA +51 on higher volume with midlin internals. All UP cept DJTA, SOXX, MID, RUT.
Bonds up 10 yr yield -4bps 4.05, $ down vs 1.4828E & 109.485y, WTI headed for Century Mark $99.03, gold +1.8% $804.5
Fri: "SP500 1450 is magnetic at the moment, testing 1440 support. NDX 2030 magnetic, testing 2005 support. A fall from grace goes to SP500 1410 & NDX 1940".
Mon: “Will tomorrows housing starts & permits offer a breather? NOT!” Lowered Fed outlook & FHLMC $2 Billion loss didn’t help either.
Mr. Rogers Neighborhood: "I'm still short those companies, they both have a long way to go as far as I'm concerned. Neither one has a clue what's on their balance sheets."
NDX gap up 2021 to 2031, rise to 2064 (75DMA), fall to 1990 (150DMA), breaking 2000 support, dead cat bounce to close at 2029 magic number.
SP500 open 1434, rise 1452 (300DMA), plunge to 1419 (400DMA), bounce to close at 1439magic number. 32 point fall, then 20 point rise, is it a dead cat?
Since July PG +19%; DJTA –20%; since Oct SRS 200% short real estate +33%; Google –17% fools bounce last 2 days.
Since Aug Mortgage Finance –45% Today alone, thrifts & mortgage –17%; FNMA –25%; FHLMC –29%.
Late day computer trading bounce had a PPT fingerprint on it. Is that you Santa? Nah! Its just Hanks friends buyin on the dip.
Ol' Hanky talks strong dollar, but really means treat it like a baby harp seal, as in club it to death.
Yen rising on carry trade unwind, Asian markets getting pounded 4 of 5 days. Dead man walkin look like big turkey getting carved up.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
TUE, wavy gravy, DJIA +51 on higher volume with midlin internals. All UP cept DJTA, SOXX, MID, RUT.
Bonds up 10 yr yield -4bps 4.05, $ down vs 1.4828E & 109.485y, WTI headed for Century Mark $99.03, gold +1.8% $804.5
Fri: "SP500 1450 is magnetic at the moment, testing 1440 support. NDX 2030 magnetic, testing 2005 support. A fall from grace goes to SP500 1410 & NDX 1940".
Mon: “Will tomorrows housing starts & permits offer a breather? NOT!” Lowered Fed outlook & FHLMC $2 Billion loss didn’t help either.
Mr. Rogers Neighborhood: "I'm still short those companies, they both have a long way to go as far as I'm concerned. Neither one has a clue what's on their balance sheets."
NDX gap up 2021 to 2031, rise to 2064 (75DMA), fall to 1990 (150DMA), breaking 2000 support, dead cat bounce to close at 2029 magic number.
SP500 open 1434, rise 1452 (300DMA), plunge to 1419 (400DMA), bounce to close at 1439magic number. 32 point fall, then 20 point rise, is it a dead cat?
Since July PG +19%; DJTA –20%; since Oct SRS 200% short real estate +33%; Google –17% fools bounce last 2 days.
Since Aug Mortgage Finance –45% Today alone, thrifts & mortgage –17%; FNMA –25%; FHLMC –29%.
Late day computer trading bounce had a PPT fingerprint on it. Is that you Santa? Nah! Its just Hanks friends buyin on the dip.
Ol' Hanky talks strong dollar, but really means treat it like a baby harp seal, as in club it to death.
Yen rising on carry trade unwind, Asian markets getting pounded 4 of 5 days. Dead man walkin look like big turkey getting carved up.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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