Morning update (2):
Another choppy day, with Banking, Retail, Housing up and Semis and oil down. The bond bid has increased a little pushing a roadblock on any bounce so far. TNX could be headed for 3.685% if today's yield low does not hold. ADVDEC lines are not suggesting a bigger sell-off, so this market could head higher at the close. But with NDX now below 1842, bulls have their work cut out for them. Nevertheless, being short here is only for quick hands, especillay with the COMP holding the 50 dma at 2334 and VIX stalling at upper bands. Fed help from the beige book at 2?
This entry was posted
on Wednesday, September 03, 2008 at 9/03/2008 11:19:00 AM.
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