Randoms on a Freaky Friday
By Todd Harrison Jan 28, 2005 8:37 am
Uno mas por favor!
- Hot potato! Hedge Fund Research reports that an estimated $27 billion flowed into hedge funds in Q4. Currently, it is estimated that total hedge fund assets are $972 billion.
- AMG Data reports equity fund outflows of $44mm for the week ending January 26.
- Oh, margin!
- If you're not reading the Buzz & Banter via the desktop application, you're missing the most exciting part of the Minyanville experience!
- The aggregate earnings last night were "good enough" to act as reactive reasoning for a rally and, if we lift, they likely will be. If we trade lower on the day, of course, geopolitical jitters will be assigned as a reason for the rhyme.
- Continued snaps to the Iron Horse regarding the pick-up in M&A activity. Today's Proctor-Gillette marriage adoption ($54 billion) is a meaty move in a sleepy space.
- I view it as incrementally bullish that the futures aren't gapping higher.
- Imagine how embarrassed Diew was when he realized that people were watching!
- Novellus (NVLS) will pace the semicaps which, in turn, will shape the semis. The SOX, as we've been saying, has technical "room" to 420.
- No sushi for you!
- Justice Morris Fish, in lieu of handing down his decision, decided to mail it instead.
- Europe, the dollar, metals and our stateside futes are in meander mode. The calm before the storm or a function of the collective exhaustion?
- I was having dinner last night with Kevin, Macke, Succo and our good friend Allie when we saw that kid from Omaha with the advertisement on his forehead. I immediately turned to Macke and saw massive upside for our revenues.
- Donovan McNabb is a class act. Simple as that.
- Most of my mainstay stochastics are still constructive but far from the bungee levels we saw earlier in the week. The exceptions, obviously, are in the energy space as the XOI and OSX are toppy.
- Do you spend your weekdays waiting for the weekend and then spend the weekend getting ready for work?
- The most important level in the market today? Not S&P 1175 (although that matters) and not DXY 84 (that clearly matters). It's BKX 100. A drip through there would set the piggies on a collision course with the 200-day (BKX 98)
- This will be the tough stretch for a strong--but somewhat untested--Orange.
- I wasn't kidding about the petition to John Thaim--somebody has to step up and voice our displeasure with the idea of opening the exchange two hours earlier!
- "The Consensus figures out Wednesday evening show a little too much optimism in the industrial metals for our liking, but encouragingly, a pervasive bearish attitude exists for many of the agricultural names. Curiously, many agriculture names are increasingly becoming larger substitutes or additives to energy (ethanol). The recent bountiful harvests have suppressed the prices in many of these commodities, while energy costs appear to have embarked on a new uptrend. The sentiment and long-term charts support a more positive position around many of these agricultural names, though the timing still appears early." Lehman technician Jeff DeGraaf.
- Fume City! Is anybody feeling a little ragged after this long earnings week? (raise hand now). I'm witcha--but don't let fatigue impact your decision making process. We work hard for our money and it's entirely too easy to give it back during lapses of judgment. When in doubt, sit it out or wait for a fatter pitch.
- 3.1% GDP while on steroids? Imagine if we didn't have the cheering section at the Fed or the creative artists at the BLS!
- The game plan all week has been to read the tea leaves and find our way. That will be the modus operandi today as well as we ready for the final fifth of a wacky week. Breadth, banks, brokers (merger reaction), semis, cyclicals, nets, nuts and small fries will be on the radar.
- Good luck today.
No positions in stocks mentioned.
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