AI
Thursday, September 11, 2003 11:04:55 AM
Fed OMO & Intraday Market Overview.............................
Sold my QQQ's trading long position @33.41 from my average cost of 33.18909 (gotta love the very tight spreads on the Q's) It was a sizeable position, so its Happy Meals for everyone today!
The Fed has issued a $5 billion, 28-day repo and a $6 billion, 7-day repo. With a $7 billion, 28-day repo and a $2.5 billion O/N repo expiring today, this action represents a net addition to liquidity of $1.5 billion on the session.
Opening gap fading as I post, particularly on the COMP. SOX @436.72, -1.16%, is the leading tech sector loser after early bid has faded. Looks to be souring other tech sectors with the BTK @472.31 -0.52%, and others now turning fractional red.
Triple test of 1013 underway on the SPX, and it appears to be holding. Very strong buy orders at 1012.50. The put to call ratio is up to .77, equity pcr .59 and index pcr 1.48. Euro futures are hitting a session low, but gold is up fractionally, now -3.90 at 377.20.
Good luck.
Regards,
Naz
Sold my QQQ's trading long position @33.41 from my average cost of 33.18909 (gotta love the very tight spreads on the Q's) It was a sizeable position, so its Happy Meals for everyone today!
The Fed has issued a $5 billion, 28-day repo and a $6 billion, 7-day repo. With a $7 billion, 28-day repo and a $2.5 billion O/N repo expiring today, this action represents a net addition to liquidity of $1.5 billion on the session.
Opening gap fading as I post, particularly on the COMP. SOX @436.72, -1.16%, is the leading tech sector loser after early bid has faded. Looks to be souring other tech sectors with the BTK @472.31 -0.52%, and others now turning fractional red.
Triple test of 1013 underway on the SPX, and it appears to be holding. Very strong buy orders at 1012.50. The put to call ratio is up to .77, equity pcr .59 and index pcr 1.48. Euro futures are hitting a session low, but gold is up fractionally, now -3.90 at 377.20.
Good luck.
Regards,
Naz
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