Market Soapbox 02/11/08
MON, DJIA +58 on average volume with midlin internals. All UP.
Bonds up 10 yr yield -3bps 3.61. $ down vs 1.4522E & vs 106.94y, WTI +2% $93.63, gold up $928.1. TED spread down -6bps 0.82%
SP500 open 1331, fall to 1320 (800DMA), rise to 1341, close 1339. NDX gap up 1773 to 1780, fall to 1770, rise to 1797, close 1793.
WEN: "Violation of SP500 1325 on a closing basis means redux of 1270 low." SP500 support holding at 1325, NDX at 1775.
Overnight, Nikkei -1.4%; Hang Seng -3.64%; FTSE -1.32%. In the 8K filed today, AIG's losses net of cash flow diversion features,
stood at $5.2 billion as of Nov. 30 versus just $352 million at the end of September. We expect more "surprises" to come,
especially from Deutsche, Wells Fargo & WaMu. Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr yield -3bps 3.61. $ down vs 1.4522E & vs 106.94y, WTI +2% $93.63, gold up $928.1. TED spread down -6bps 0.82%
SP500 open 1331, fall to 1320 (800DMA), rise to 1341, close 1339. NDX gap up 1773 to 1780, fall to 1770, rise to 1797, close 1793.
WEN: "Violation of SP500 1325 on a closing basis means redux of 1270 low." SP500 support holding at 1325, NDX at 1775.
Overnight, Nikkei -1.4%; Hang Seng -3.64%; FTSE -1.32%. In the 8K filed today, AIG's losses net of cash flow diversion features,
stood at $5.2 billion as of Nov. 30 versus just $352 million at the end of September. We expect more "surprises" to come,
especially from Deutsche, Wells Fargo & WaMu. Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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