Market Soapbox 12/12/07
WEN, Mr. Toad's Wild Ride, DJIA +41 on average volume with poor internals. All UP.
Bonds down 10 yr yield +11bps 4.08, $ down vs 1.4708E & up vs 112.203y, WTI up 4% $93.72, gold up $818.8
Fri: Resistance "SP500 right on1510, NDX at 2135. Fed decision holds key... any disappointment plunges market to pre March depths."
Yesterday: "Unless Santa wants to play Tommy (deaf, dumb & blind) SP500 300DMA 1455 and NDX 100DMA 2050 await."
NDX gap up 2083 to 2125, rise to 2130, plunge to 2070, bounce to close 2101. SP500 gap up 1477 to 1487, rise to 1511, plunge to 1468, bounce to close 1486.
SP500 up 34, then down 9, closing up 9. Near term targets came close as the market banged its head on resistance and fell hard.
The Fed, BOE, ECB, BOC & Swiss joined to bail the banks out of the short term asset backed commercial paper nightmare.
This will result in the largest liquidity injection and money/bad paper laundering operation of all time. Will it work?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds down 10 yr yield +11bps 4.08, $ down vs 1.4708E & up vs 112.203y, WTI up 4% $93.72, gold up $818.8
Fri: Resistance "SP500 right on1510, NDX at 2135. Fed decision holds key... any disappointment plunges market to pre March depths."
Yesterday: "Unless Santa wants to play Tommy (deaf, dumb & blind) SP500 300DMA 1455 and NDX 100DMA 2050 await."
NDX gap up 2083 to 2125, rise to 2130, plunge to 2070, bounce to close 2101. SP500 gap up 1477 to 1487, rise to 1511, plunge to 1468, bounce to close 1486.
SP500 up 34, then down 9, closing up 9. Near term targets came close as the market banged its head on resistance and fell hard.
The Fed, BOE, ECB, BOC & Swiss joined to bail the banks out of the short term asset backed commercial paper nightmare.
This will result in the largest liquidity injection and money/bad paper laundering operation of all time. Will it work?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Comments