By Todd Harrison Jan 27, 2004 12:31 pm
I'm looking for an upgrade from pumpkin status!
- Anybody wanna run on 3rd and 8?
- The market has been correcting as percentage of overbought components in OEX and NDX have dropped over the past two weeks from over 70% to under 50%. Also, Advance/decline lines, utilities and banks typically peak at least 6 months BEFORE the rest of the tape. Some love from our ol' pal Snoop!
- Why the Taser Laser (TASR:NASD)? Maybe it has something to do with the short interest. Of the 1.87 million shares outstanding (float), 1.157 million are short. That's 62%--quite high--and likely the reason for the massive group hug.
- Laurie McGuirk asked me to communicate that he has some things goin' on down under and will be away from the 'Ville till Thursday (although he's gonna try to toss something out there). Also, so ya know, Succ is travelin' on business this week. Thanks for understanding Mate!
- This Microsoft news (MSFT:NASD) was floating around this morning. The headline hit Reuters at 11:57am and triggered (downside) stops in the S&P and NDX. That would explain the quick dip at noon.
- How many folks are watching this recovery from the outside window?
- Don't procrastinate. In two days, tomorrow will be yesterday.
- I don't think I want to know a six-year-old who isn't a dreamer, or a silly heart. And I sure don't want to know one who takes their student career seriously. (Yes, Judith, it's Uncle Buck)
- News flash: Today's weakness has nothing--ZERO--to do with the consumer confidence report. Man, the reasons they'll sometimes assign to the rhymes.
- Nazz breadth is almost 2:1 negative. The big board is relatively firmer. Why? SOX down 20, BKX down 5. Got it?
- I now think in rhymes. It's getting a bit silly.
- Gold up 8. Dollar on its lows. Europe huggin' the flat line. Fokker fumblin' lunch (again).
- Tom DeMark (who I consider to be as good as it gets) is pointing to a bevy of "13s" in the marketplace. In layman's terms, that's not bullish.
- Despite the index fright, the cyclicals hang tough (as do the energy issues but those trade independent of the broader tape).
- Thanks Rob, David and Mitch. It's all very exciting.
- The mortgage lenders and home builders are in a world of their own.
- Fokker Kahn. Fokker Kahn.
- I'm still watching General Electric (GE:NYSE), Johnson & Johnson (JNJ:NYSE) and Citigroup (C:NYSE) for the "stock" in stock market. They officially broke out and while I'm not involved (and this isn't advice), I'm monitoring their movement as technical tells.
- Hoofy just put two calls into Snapper. Thus far, he hasn't heard anything back.
- Good things happen to good people. I gotta believe that--it's the whole karma thing.
- Casey and Debra (at N-Tonic) are outdoing themselves on these site changes. I'm tellin' ya--it's gonna blow you away (I'm still in awe).
- Gold stocks.
- It's not only our right to question our government, it's our responsibility. When you stop believing that, you're missing the whole point of democracy.
- The S&P trendline (from December) comes into play around 1140. NDX 1515 is still the level to watch (multiple January bottoms).
- It's FRONK-enstein.
- An interesting thought from David Nichols, who writes excellent commentary at 21st Century Alert. "Imagine if a portion of the money withheld from your paycheck is suddenly given free rein to flow into mutual funds and stocks. This could happen if the Bush administration is re-elected and pushes through the privatization of the Social Security system. That would be an all-time liquidity-driven bubble and the securities industry would be on the receiving end of the biggest perk ever given to any industry in the history of the world, and it would probably be a wild ride to own some of those stocks ahead of/during that process. I'm studying more on this topic, as it's the "biggie" out there for a long-term bullish case. But I digress...."
- If a Viagra gets caught in your throat, would you get a stiff neck?
- I'm gonna post these and come back--things are jammin'.
position in qqq
Get The Minyanville
Daily Recap Newsletter
Daily Recap Newsletter