"Let me....entertain you....."
Wal-Mart (WMT 49.41 -0.27) reported strong comps of 4.7% (consensus 4.3%) and now expects Aug. comps to rise 3-5% but rival Target (TGT 56.31 -1.36) has posted a 5.5% rise in July comps (consensus +5.7%) and downside Q2 sales guidance... Other notable retailers missing expectations and guiding lower include JCP (-4.7%), FDO (-3.8%) and GPS (-2.8%)... Consolidation throughout brokerage, banking and insurance, as well as a modest rise in benchmark yields, continue to pressure the Financial sector...
$50 like a STEEL CLAMP on WMT, selling on good news? hmmmm
BONDS ODDLY silent today ahead of FRI job data, here is what I said in an email to some friends this AM and I have been saying here:
"Any thoughts on my comments about bonds and tomorrows job data? http://www.bls.gov/web/cesbd.htm LOOK how close 2005 has followed 2004! LOOK at July -80K 2004....why I say look for HUGE mISS tomorrow, it might SHOCK markets, help bonds?I am looking for minus 100K jobs and I am the only one saying this. ALL the "expert" economists are looking for PLUS 180K or more
Your faithful analyst and born to be wild contrarian Duratek
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1 comment:
Michael,
Yet, and could be a fake out, the TNX chart appears to have broken out of its range with 5 and 20 EMA moving up along with rising ROC.
One would certainly think a flight to bonds could be caused by an ugly job report.
As crazy as market is could shrug it off, but I had felt being overbought yad yada this would be good breeding ground for correction. Again could be positive for Bond prices.
Being in conservative short fund like URSA (one for one SPX rather than double leverage)is also way to play market decline or protect your longs.
Duratek
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