Market Soapbox 06/30/08
MON, split tape, DJIA +3 on higher volume with ugly internals. All DOWN cept DJTA, XAU, XOI.
Bonds down 10 yr yield +2bps 3.99, $ up vs 1.5762€ & down vs 106.075y, WTI up $140.03, gold down $928, TED spread down BIG -23bps 0.91%.
SP500 open 1278, drop to 1274, rise to 1290, fade to close 1280. NDX open 1852, rise to 1863, fade to close 1837.
WEN: we sense something wicked this way comes. THUR: DJIA -383
THU: Deja Vu all over again? This month the DJIA -9.4%, its worst June since an 18% tumble in 1930 during the Great Depression.
FRI: Another headfake before new depths? Perhaps, but not a spirited one.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds down 10 yr yield +2bps 3.99, $ up vs 1.5762€ & down vs 106.075y, WTI up $140.03, gold down $928, TED spread down BIG -23bps 0.91%.
SP500 open 1278, drop to 1274, rise to 1290, fade to close 1280. NDX open 1852, rise to 1863, fade to close 1837.
WEN: we sense something wicked this way comes. THUR: DJIA -383
THU: Deja Vu all over again? This month the DJIA -9.4%, its worst June since an 18% tumble in 1930 during the Great Depression.
FRI: Another headfake before new depths? Perhaps, but not a spirited one.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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