Market Soapbox 06/19/08
THU, bounce & flop, DJIA +34 on average volume with fair internals. All UP cept XAU, XOI.
Bonds down 10 yr +5bps 4.19, $ up vs 1.5514€ & vs 107.88y, WTI -3% $132, gold up $899.3, TED spread up +1bps 0.89%.
SP500 open 1337, dip to 1330, bounce to 1347, close 1343. NDX 1951, gap down to open 1947, dip to 1935, rise to 1991, close 1982.
LAST WEN: What next? Another irrational bounce before we retest this years low NDX 1670 & SP500 1255?
WEN: Perhaps a bounce, but we sense something nasty is about to come out of the woodshed.
Moody's Investors Service stripped bond insurers MBIA Inc. and Ambac Financial Corp. of their Aaa ratings.
Flight to safety? PG plunged to 64.90 today and the other shoe dropped...
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr +5bps 4.19, $ up vs 1.5514€ & vs 107.88y, WTI -3% $132, gold up $899.3, TED spread up +1bps 0.89%.
SP500 open 1337, dip to 1330, bounce to 1347, close 1343. NDX 1951, gap down to open 1947, dip to 1935, rise to 1991, close 1982.
LAST WEN: What next? Another irrational bounce before we retest this years low NDX 1670 & SP500 1255?
WEN: Perhaps a bounce, but we sense something nasty is about to come out of the woodshed.
Moody's Investors Service stripped bond insurers MBIA Inc. and Ambac Financial Corp. of their Aaa ratings.
Flight to safety? PG plunged to 64.90 today and the other shoe dropped...
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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