Hi Tim, I've finished up with DYN and ENE, I do see that DYN
gave investors and traders a chance to sell or short DYN
at it's 200 dma a few days ago
stockcharts.com[w,a]daclyymy[pb50!b200!i!b21][vc60][iUb14!La12,26,9]
some things don't change and also note that the max
dollar volume concentration for DYN is at 47, I have a post
from earlier this morning elaborationing on this tool.
Barbara Mensch has used max dollar volume concentrations to
great success in the note and bond futures market the past
few years. She's been on cnbc a number of times.
changing gears, briefing.com had an interesting note
yesterday, showing that come credit spreads have come in
quite a bit since 9-11. They focus on F, GM DCX 5 year
commercial paper which has come down 60 points closer to
the benchmark, and JPM and BAC 5 year paper that has
narrowed by 35 basis points. This shows how there is
less strain on the financial system, and that saavy
lenders and borrowers are feeling the economy is less
likely to drift into a serious recession, with corp. debt
defaults etc.
One caveat of this is that credit spreads are narrowest
at stock market tops, and widest near stock market bottoms,
as there is greater concern of the markets downtrend
snowballing even further downhill.
07:56 ET
30-year: -13/32..5.050%....GNMAs: unch....$-¥: 122.18
We were just sent some levels by a bond fund manager that are indicative of the performance of the corporate debt market since the beginning of September. And frankly, the magnitude of spread tightening caught us off guard. The indication we got, which originated from a dealer desk, is that Since September 2nd, 5-year Ford, GM and Daimler Chrysler paper have all come in by 60 bp! And, lets not just limit this to autos, Bank of America and JP Morgan 5-years have both come in by 35 bp! How about that! |
