Market Soapbox 04/24/08
THU, surge, DJIA +86 on light volume with nicer internals. All UP cept DJTA, XOI, XAU.
Bonds down BIG 10yr +9bps 3.83, $ up HUGE vs 1.5682€ &vs 104.316y, WTI -2% $116.08, gold -2% $889.4, TED spread down -4bps 1.66%
Lowered German & French business confidence tanked the Euro the most in 2 years. The $ up the most in 2 years on smoke & mirrors; Gold & Oil punished.
SP500 open 1380, drop to 1371, surge to 1398, drop to close 1388. NDX open 1908, drop to 1886, surge to 1943, bleed to close 1925.
TUE: 02/01 SP500 1396.02 high is still intact. It topped the number today, by a hair, then fell fast and furious to close.
MON: I sense a downdraft coming THURS or FRI at perhaps NDX 1950. Close enough at 1943 and it fell hard from the number.
Perhaps Microsoft will disappoint afterhours and more so, the Fed on WEN.
The market was up big and gave back almost half in the last 90 minutes. Fee, Phi, Fo, Fum, I smell consolidation.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down BIG 10yr +9bps 3.83, $ up HUGE vs 1.5682€ &vs 104.316y, WTI -2% $116.08, gold -2% $889.4, TED spread down -4bps 1.66%
Lowered German & French business confidence tanked the Euro the most in 2 years. The $ up the most in 2 years on smoke & mirrors; Gold & Oil punished.
SP500 open 1380, drop to 1371, surge to 1398, drop to close 1388. NDX open 1908, drop to 1886, surge to 1943, bleed to close 1925.
TUE: 02/01 SP500 1396.02 high is still intact. It topped the number today, by a hair, then fell fast and furious to close.
MON: I sense a downdraft coming THURS or FRI at perhaps NDX 1950. Close enough at 1943 and it fell hard from the number.
Perhaps Microsoft will disappoint afterhours and more so, the Fed on WEN.
The market was up big and gave back almost half in the last 90 minutes. Fee, Phi, Fo, Fum, I smell consolidation.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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