Market Soapbox 02/21/08
THU, triple digit dip, DJIA -143 on lower volume with horrible internals. All DOWN cept XAU.
Bonds up BIG 10 yr yield -14bps 3.75. $ down vs 1.4816E & vs 107.3y, WTI -1.7% $98.02, gold up $945.8 TED spread up +4bps 0.90%.
SP500 gap up 1360 open 1362, pop to 1367, plunge to 1339, close 1342. NDX gap up 1787 open 1802, pop to 1806, plunge to 1762 close 1766.
Yesterday, horrible CPI & horrendous housing starts & permits (16 year low), completely ignored. Today, investors acted like they read yesterdays Soapbox.
Much like the last week, support line holding at SP500 1350 & NDX 1750. There are not enough lifeboats or preserver's, we smell burning rope...
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up BIG 10 yr yield -14bps 3.75. $ down vs 1.4816E & vs 107.3y, WTI -1.7% $98.02, gold up $945.8 TED spread up +4bps 0.90%.
SP500 gap up 1360 open 1362, pop to 1367, plunge to 1339, close 1342. NDX gap up 1787 open 1802, pop to 1806, plunge to 1762 close 1766.
Yesterday, horrible CPI & horrendous housing starts & permits (16 year low), completely ignored. Today, investors acted like they read yesterdays Soapbox.
Much like the last week, support line holding at SP500 1350 & NDX 1750. There are not enough lifeboats or preserver's, we smell burning rope...
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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