Market Soapbox 08/18/08
MON, triple digit dip, DJIA -180 on lower volume with dismal internals. All DOWN cept DJUA, XAU.
Bonds up 10 yr -2bps 3.81, $ up vs 1.4668€ & down vs 110.22y, WTI -1% $112.87 gold +1.5% $805.7, TED spread up +7bps 1.05%.
SP500 1298, rise to resistance 1300, plunge to 1274, close 1278. NDX 1957, gap up to 1962, drop to 1920, close 1932.
Major concern over FHLMC & FNMA needing a near term bailout. Critical action coming through WEN.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr -2bps 3.81, $ up vs 1.4668€ & down vs 110.22y, WTI -1% $112.87 gold +1.5% $805.7, TED spread up +7bps 1.05%.
SP500 1298, rise to resistance 1300, plunge to 1274, close 1278. NDX 1957, gap up to 1962, drop to 1920, close 1932.
Major concern over FHLMC & FNMA needing a near term bailout. Critical action coming through WEN.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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