Market Soapbox 12/10/07
MON, triple digit jump, DJIA +101 on thinly traded volume with nice internals. All UP cept XOI.
Bonds down 10 yr yield +4bps 4.15, $ down vs 1.4712E & 111.615y, WTI down $88.18, gold up 1.5% $813.5
Last week: "Next resistance at SP500 1510 and NDX 2135." Holding for Fed. Cut Odds: 72% 25bps; 28% 50bps.
NDX open 2131, fall to 2126, rise to 2141, close 2135. SP500 open 1505, rise to 1518, close 1516. MAX Pain SP500 1485, NDX 2135.
Fri: "Tues Fed decision and statement hold the key. 50 bps cuts probably garner a rally with year end window dressing till Jan 2nd.
Any kind of disappointment will plunge this market to pre March depths."
All ignored for today: UBS $10 billion writedown, restating 07 profit to loss, substituting stock for dividend, receiving $11.5 billion bailout.
BofA freezing $12 billion enhanced money market fund. Bond guarantor MBIA $1 billion bailout to meet reserves.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +4bps 4.15, $ down vs 1.4712E & 111.615y, WTI down $88.18, gold up 1.5% $813.5
Last week: "Next resistance at SP500 1510 and NDX 2135." Holding for Fed. Cut Odds: 72% 25bps; 28% 50bps.
NDX open 2131, fall to 2126, rise to 2141, close 2135. SP500 open 1505, rise to 1518, close 1516. MAX Pain SP500 1485, NDX 2135.
Fri: "Tues Fed decision and statement hold the key. 50 bps cuts probably garner a rally with year end window dressing till Jan 2nd.
Any kind of disappointment will plunge this market to pre March depths."
All ignored for today: UBS $10 billion writedown, restating 07 profit to loss, substituting stock for dividend, receiving $11.5 billion bailout.
BofA freezing $12 billion enhanced money market fund. Bond guarantor MBIA $1 billion bailout to meet reserves.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Comments