Market Soapbox 08/07/08
THU, double triple dip, DJIA -225 on average volume with poor internals. All DOWN cept SOXX.
Bonds up BIG 10 yr -12bps 3.92%. $ up vs 1.5324€ & down vs 109.34y, WTI up $119.88, gold down $880.5; TED Spread down -4bps 1.12%
SP500 1289 gap down 1286, dive to 1264, close 1266. NDX 1895, gap down 1882, bounce 1904, sink to 1873, close 1880.
Last week: Oscillating around NDX 1850; SP500 1260. Headed there again.
TUES: Could Ambac/PMI bad news kick this dog back down the stairs? At least PMI and AIG did.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up BIG 10 yr -12bps 3.92%. $ up vs 1.5324€ & down vs 109.34y, WTI up $119.88, gold down $880.5; TED Spread down -4bps 1.12%
SP500 1289 gap down 1286, dive to 1264, close 1266. NDX 1895, gap down 1882, bounce 1904, sink to 1873, close 1880.
Last week: Oscillating around NDX 1850; SP500 1260. Headed there again.
TUES: Could Ambac/PMI bad news kick this dog back down the stairs? At least PMI and AIG did.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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