Market Soapbox 08/12/08
TUE, triple digit dip, DJIA -140 on lower volume with poor internals. All DOWN cept SOXX, XAU.
Bonds up BIG 10 yr -9bps 3.90, $ down vs 1.4921€ & vs 109.245y, WTI -1.5% $112.97, gold -1% $819.8, TED spread down -5bps 0.95%.
SP500 1305, drop to 1285, close 1290. NDX 1941, open 1938, dip to 1932, bounce to 1957, fade to close 1941.
Today, writedowns exceeded $500 billion; Financials -5.2%; Commodities pull back continues; crude under $113.
Critical action coming this THU through next WEN.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up BIG 10 yr -9bps 3.90, $ down vs 1.4921€ & vs 109.245y, WTI -1.5% $112.97, gold -1% $819.8, TED spread down -5bps 0.95%.
SP500 1305, drop to 1285, close 1290. NDX 1941, open 1938, dip to 1932, bounce to 1957, fade to close 1941.
Today, writedowns exceeded $500 billion; Financials -5.2%; Commodities pull back continues; crude under $113.
Critical action coming this THU through next WEN.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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