Market Soapbox 12/09/08
TUE, wavy gravy, DJIA -243 on higher volume with ugly internals. ALL DOWN cept SOXX, XAU.
Bonds up 10 yr -9bps 2.66%, $ down vs E1.2925 & vs 92.32y, WTI -3% $42.45 gold up $776.4, TED spread -3bps 2.15%. 3mo Libor -3bps 2.16.
SP500 909, rise 916, plunge 885, close 888. NDX 1225, gap down 1202, rise 1251, close 1212.
FRI: Unemployment 6.7%; highest since 92; -533K jobs in Nov. the largest decline since 74. let this Santa Chumps rally play out.
MON: Democrats sent a $15 billion auto rescue plan to the White House. LA Times owner Tribune Co. filed BK and forced to sell the Cubs.
Today, semiconductor companies, Altera, Broadcom, National Semi, Novellus, TI & United Microelectronics gave downside earnings or revenue guidance.
Consumer technology U.S. retail sales declined for the first time ever during the week of Black Friday -8.4% vs +6.1%.
Sony slashes 16K jobs; The Bank of Canada cut by 75 bps to 1.5%.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds up 10 yr -9bps 2.66%, $ down vs E1.2925 & vs 92.32y, WTI -3% $42.45 gold up $776.4, TED spread -3bps 2.15%. 3mo Libor -3bps 2.16.
SP500 909, rise 916, plunge 885, close 888. NDX 1225, gap down 1202, rise 1251, close 1212.
FRI: Unemployment 6.7%; highest since 92; -533K jobs in Nov. the largest decline since 74. let this Santa Chumps rally play out.
MON: Democrats sent a $15 billion auto rescue plan to the White House. LA Times owner Tribune Co. filed BK and forced to sell the Cubs.
Today, semiconductor companies, Altera, Broadcom, National Semi, Novellus, TI & United Microelectronics gave downside earnings or revenue guidance.
Consumer technology U.S. retail sales declined for the first time ever during the week of Black Friday -8.4% vs +6.1%.
Sony slashes 16K jobs; The Bank of Canada cut by 75 bps to 1.5%.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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