Market Soapbox 05/08/08
THU, bounce, DJIA +53 on lower volume with midlin internals. All UP.
Bonds up 10yr -5bps 3.79, $ down vs 1.54€ & vs 103.959y, WTI up $123.89, gold +1.2% $882.1, TED spread FLAT 1.06%.
SP500 1391, gap up to open 1394, dip to 1389, rise to 1402, fade to close 1398. NDX 1951 gap up to open 1960, dip to 1954, rise to 1979, fade to close 1967.
WEN: NDX 2000 & SP500 1425 are proving formidable as the markets thin legs get wobbly.
FRI: we still think this is a suckers rally. Low trading volume and high volume of puts lacks conviction.
SP500 testing 1400-1405 level again.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10yr -5bps 3.79, $ down vs 1.54€ & vs 103.959y, WTI up $123.89, gold +1.2% $882.1, TED spread FLAT 1.06%.
SP500 1391, gap up to open 1394, dip to 1389, rise to 1402, fade to close 1398. NDX 1951 gap up to open 1960, dip to 1954, rise to 1979, fade to close 1967.
WEN: NDX 2000 & SP500 1425 are proving formidable as the markets thin legs get wobbly.
FRI: we still think this is a suckers rally. Low trading volume and high volume of puts lacks conviction.
SP500 testing 1400-1405 level again.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Comments