Market Soapbox 02/27/08
WEN, split tape, DJIA +9 on lower volume with midlin internals. All DOWN cept NDX, SOXX, XAU.
Bonds up 10 yr yield -4bps 3.82, $ down BIG vs 1.5099E & vs 106.435y, WTI down 2% $99.37, gold down $957.3 TED spread up BIG +13bps 1.11%.
SP500 gap down 1381 to 1378, fall to 1372, rise to 1388, close 1380. NDX gap down 1791, open 1788, fall to 1775, rise to 1806, close 1799.
FNMA record loss and needs to raise capital for reserves, Bernanke speech sez things ain't pretty and are gonna get uglier...
Durable goods and new home sales plunge. Don't worry be happy, the Fed will cut some more. Whats wrong with this picture?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr yield -4bps 3.82, $ down BIG vs 1.5099E & vs 106.435y, WTI down 2% $99.37, gold down $957.3 TED spread up BIG +13bps 1.11%.
SP500 gap down 1381 to 1378, fall to 1372, rise to 1388, close 1380. NDX gap down 1791, open 1788, fall to 1775, rise to 1806, close 1799.
FNMA record loss and needs to raise capital for reserves, Bernanke speech sez things ain't pretty and are gonna get uglier...
Durable goods and new home sales plunge. Don't worry be happy, the Fed will cut some more. Whats wrong with this picture?
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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