PM update (2);
SPX tags 1432 and some, but finds support there (Aug 28th low, see yesterday's wrap). Bulls need to hold this level at the close.
As for bonds, unless stocks completely fall apart, they have gotten way ahead of themselves. The 30 year is at 4.48% and the ten year at 4.07%. Stocks will become attractive once again, but it is definitely scary down here. Internals are very bearish, but keep in mind that we have HPQ after the close.
SPX tags 1432 and some, but finds support there (Aug 28th low, see yesterday's wrap). Bulls need to hold this level at the close.
As for bonds, unless stocks completely fall apart, they have gotten way ahead of themselves. The 30 year is at 4.48% and the ten year at 4.07%. Stocks will become attractive once again, but it is definitely scary down here. Internals are very bearish, but keep in mind that we have HPQ after the close.
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on Monday, November 19, 2007 at 11/19/2007 01:46:00 PM.
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