Market Soapbox 02/20/08
WEN, jerk & herk DJIA +90 on lighter volume with nice internals. All UP.
Bonds down 10 yr yield +2bps 3.89, $ down vs 1.4719E & up vs 108.16y, WTI up $99.68, gold up 1.5% $943.1 TED spread up +4bps 0.86%.
Overnight FTSE -1.23%; DAX -1.47%; CAC -1.49%; Hang Seng -2.21%; Nikkei -3.25%.
Yesterday, up 155 points only to close down. Today, down 106 to close up 90.
SP500 open 1348, drop to 1336, rise to 1363, close 1360. NDX gap down 1764 to 1756 to open, rise to 1791, close 1787.
Horrible CPI & horrendous housing starts & permits (16 year low), completely ignored.
FOMC minutes soothed with portent of more rate cuts making it a great time to buy with...
Crude at $100, double digit stagflation, negative job growth, GDP near zero, no bottom in sight for real estate prices;
housing growth 16 year low; & emasculated service based economy just starting to tip over. Does it get any better?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield +2bps 3.89, $ down vs 1.4719E & up vs 108.16y, WTI up $99.68, gold up 1.5% $943.1 TED spread up +4bps 0.86%.
Overnight FTSE -1.23%; DAX -1.47%; CAC -1.49%; Hang Seng -2.21%; Nikkei -3.25%.
Yesterday, up 155 points only to close down. Today, down 106 to close up 90.
SP500 open 1348, drop to 1336, rise to 1363, close 1360. NDX gap down 1764 to 1756 to open, rise to 1791, close 1787.
Horrible CPI & horrendous housing starts & permits (16 year low), completely ignored.
FOMC minutes soothed with portent of more rate cuts making it a great time to buy with...
Crude at $100, double digit stagflation, negative job growth, GDP near zero, no bottom in sight for real estate prices;
housing growth 16 year low; & emasculated service based economy just starting to tip over. Does it get any better?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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