Random Thoughts to Start the Day
Only because it's so cold...
- It's -25 degrees (yes, that's minus 25) with the wind chill factor and Hoofy's suckin' on a frozen milk shake.
- Juniper (JNPR:NASD) has assumed the telecom baton on the heels of its better than expected earnings. That's lighting a fire under the group and squeezing the bejezus out of the shorts.
- General Electric (GE:NYSE) reported this morning and, at first glance, it seems "fine." Their report is always meaty (lotsa moving parts) so I'm still sniffin' it out.
- Equity funds reported net cash inflows of $5.7B for the week ended January 14. That's the largest inflow since April of last year (seasonal).
- Fed Governor Poole (what kind of name is Poole anyway) says that the December payroll figure "was an anomaly." Of course it was.
- It's good to have Fleck back in the flow. He'll be offering his educational insights weekly (via his Rap) and contributing the (soon to be unveiled) Buzz & Banter. Wait till you see this thing!
- Gold, fresh off its thumpin', will find trendline support at $400. The dollar index, not coincidently, will find trendline resistance at DXY 88 (currently 87). Professor McGuirk will be offering his take shortly.
- Sometimes the lights all shining on me. Other times, I can barely see.
- Europe continues to trade firm.
- S&P 1150--a 50% retracement of the entire bear move--is edging closer. Boo would obviously prefer a spike into that resistance (rather than a grind) and a pick (rather than a scratch).
- There's a bird flu in Vietnam. Isn't that what they're supposed to do?
- I don't know about you, but I'm ready for a three day weekend. Heck, I'm ready for a four day weekend!
- Index options expire this morning, individual equities come off this afternoon.
- The news is always the best at market tops and worst at market bottoms. That's why so many people miss (or get caught) at the cusps.
- Traders are tripping over themselves to buy Juniper right now. It was a "great" report (relative to expectations) but it's not the cheapest company in the world. (yikes!)
- Don't let the tape dictate your posture. If you got bullish higher and bearish lower yesterday, you turned a "nothing" session into a house of pain.
- Boo. Shrinkage.
- The earnings avalanche picks up in pace next week.
- A week ago, I opined that the chasers would be choking by this time. Instead, the tape was vacillated and the indices are relatively unchanged.
- If you're only trading the ETF's, you're missing the action.
- Good luck today.
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at firstname.lastname@example.org.
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