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Buzz Bits: Dow Edges Lower, Nasdaq Climbs

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Your daily Buzz & Banter highlights...

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Editor's Note: This is a small sample of the content available on the Buzz and Banter.



Bell Buzz - Todd Harrison - 3:30 PM

Bell Buzz - Todd Harrison - 3:30 PM

  • Gotta love the Minyanship for being "all over" the 24 plotline. Curtis is a doornail, according to the 24 website. Or, at least that's what they want us to think!

  • They're called "tells" for a reason and thus far, they're earning their keep. The emerging markets are jazzy, breadth is 2:1 snazzy, the financials are shruggy, the homies are huggy (squeezy). Me? Fried like an onion ring.

  • A Minyan just asked if S&P 1430 was a likely pin into the close. Nosiree--the indices expire on the morning of expiration and individual stock options expire in the afternoon. So, while we could pin 1430, it would be more coincidence than structural machination.

  • The CRB (+1.6%) is poppin' like Bluto in a college cafeteria. We're still hanging under the all-important CRB 293 level, which is worrisome from a "churning" standpoint. Hey, when in doubt, trade a little "in between."

  • Get your rest this weekend, Minyans, for the earnings avalanche will continue next week. For my part, I'll be enjoying the Syracuse-St. Johns game at the Garden on Sunday (in a box, football blasting in the background) with my best friend and college roommate, President Fish. That's the stuff our journey is made of!

  • May peace be with you.


R.P.

position in financials, commod stocks



Venta al descubierto? - Ryan Krueger - 2:53 PM

The Lone Wolf superbly set up some ideas that may benefit from lower energy prices at the TD-Ameritrade conference. New Minyans should know that he has retail nailed better than anyone I've come across. What I have now also seen is just how long his makeup session takes. Toddo, Pepe and I went al naturale for the big show. I think Kadlec had his own stylist because, and I say this with an unblemished record of staunch heterosexuality…he looked fabulous.

Let me throw a possible paired trade on the Wolf's ideas, and also on the many trades, questions, and hopes I've been hearing about establishing longs in energy (the volume of which confirm at the very least it's no longer an un-crowded trade, hence my smaller and smaller positions).

I'd start to connect some dots, and figure out who suffers from lower energy prices while most of the crowd is figuring out who would benefit.

I'll share one darkside idea we're working on. I mentioned in En Peligro the risk I saw returning to emerging markets that are being priced as if there's not a problem in the world. Consider Mexico, whose iShare EWW is up almost 300% over the past four years compared to the S&P's "big" rally of almost 60%. And now consider that the Mexican government receives almost HALF of its entire revenues from Pemex. Ay caramba! Several governments south of our border were unstable when prices were $75 a barrel, consider how scary some might look with a 33% haircut, and I don't think the clippers are unplugged yet.


Frustration Station - Fil Zucchi - 10:20 AM

Last night's report by Capital One Financial (COF) was "puke" ugly. Even worse than I was hoping for. However, having learned from the past to hedge even my most vehement convictions on this name, I went out yesterday with a balanced position - long June puts and delta neutral the stock. It's a good thing I guess because the stock is up almost $2.

The only conclusion I can draw is that people like companies whose business conditions have been in reverse for the last three quarters and where the credit risk is about as high as you can find it. I understand COF is cheap and that's probably why the stock is not taking a beating...but being up on the day tells me that no amount of correct analysis matters. Something else is going on, and rephrasing Jessica Simpson's words..." I totally don't understand what it is, and I don't want it."


What you need to know... - Jon Doctor J Najarian - 8:17 AM

Citigroup (C) Earnings Top $23 Billion – Citi raised its dividend by 10% to $0.54 after it earned $1.03 per share versus $1.01 Street estimate. The company's record results of $23.8 billion means they made $65.2 million per day, or $2.7 million per hour, or $45,000 per second! Cha-Ching!

General Electric (GE) Profits Double – GE said 4Q profits and revenue were up substantially, as it earned $0.64 per share on $44.62 billion in sales, but the company restated financial results for 2001–2005, taking a $343 million hit.

House Rolls Back Oil Subsidies - The legislation would impose a conservation fee on oil and gas taken from deep waters of the Gulf of Mexico . It would scrap nearly $6 billion worth of oil industry tax breaks enacted by Congress in recent years. If it becomes law the legislation could produce as much as $15 billion in revenue.

Toyota (TM) Recalls Sequoia & Tundras – Over half a million U.S.-built pickup and sport utility vehicles will get recall notices because of steering problems that may have led to 11 accidents. The recall affects some Tundra pickups from the model year 2004 to 2007 and certain 2004 to 2007 model year Sequoias.

Positions in GE, Citi

The superbly set up some ideas that may benefit from lower energy prices at the TD-Ameritrade conference. New Minyans should know that he has retail nailed better than anyone I've come across. What I have now also seen is just how long his makeup session takes. Toddo, Pepe and I went al naturale for the big show. I think Kadlec had his own stylist because, and I say this with an unblemished record of staunch heterosexuality…he looked fabulous. Let me throw a possible paired trade on the Wolf's ideas, and also on the many trades, questions, and hopes I've been hearing about establishing longs in energy (the volume of which confirm at the very least it's no longer an un-crowded trade, hence my smaller and smaller positions). I'd start to connect some dots, and figure out who suffers from lower energy prices while most of the crowd is figuring out who would benefit. I'll share one darkside idea we're working on. I mentioned in En Peligro the risk I saw returning to emerging markets that are being priced as if there's not a problem in the world. Consider Mexico, whose iShare is up almost 300% over the past four years compared to the "big" rally of almost 60%. And now consider that the Mexican government receives almost HALF of its entire revenues from. Ay caramba! Several governments south of our border were unstable when prices were $75 a barrel, consider how scary some might look with a 33% haircut, and I don't think the clippers are unplugged yet. Last night's report by was "puke" ugly. Even worse than I was hoping for. However, having learned from the past to hedge even my most vehement convictions on this name, I went out yesterday with a balanced position - long June puts and delta neutral the stock. It's a good thing I guess because the stock is almost $2.The only conclusion I can draw is that people like companies whose business conditions have been in reverse for the last three quarters and where the credit risk is about as high as you can find it. I understand is cheap and that's probably why the stock is not taking a beating...but being up on the day tells me that no amount of correct analysis matters. Something else is going on, and rephrasing Jessica Simpson's words..." I totally don't understand what it is, and I don't want it." Citi raised its dividend by 10% to $0.54 after it earned $1.03 per share versus $1.01 Street estimate. The company's record results of $23.8 billion means they made $65.2 million per day, or $2.7 million per hour, or $45,000 per second! Cha-Ching! GE said 4Q profits and revenue were up substantially, as it earned $0.64 per share on $44.62 billion in sales, but the company restated financial results for 2001–2005, taking a $343 million hit. The legislation would impose a conservation fee on oil and gas taken from deep waters of the Gulf of Mexico . It would scrap nearly $6 billion worth of oil industry tax breaks enacted by Congress in recent years. If it becomes law the legislation could produce as much as $15 billion in revenue. Over half a million U.S.-built pickup and sport utility vehicles will get recall notices because of steering problems that may have led to 11 accidents. The recall affects some Tundra pickups from the model year 2004 to 2007 and certain 2004 to 2007 model year Sequoias.Positions in GE, Citi

No positions in stocks mentioned.

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