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Relationship Issues


Europe is pushing higher, baby--watch the frogs!


Don't be angry, don't be sad,
And don't sit cryin' over good times you've had.
There's a Minx right next to you,
And she's just waitin' for something to do

(Stephen Stills)

It's another brisk morning in Minyanville and, in an aggressive showing of commitment, I joined Slaino for a little spin class out of the gate. Wouldn't you know it, the chatter in the locker room was dominated by frustrated traders and aggravated investors. Shocker there! My initial reaction was to walk up to these guys and say "fellas, get over it!" I mean seriously, we can spend our time pining for better tapes and deeper pockets but, at the end of the day, these are the cards we've been dealt--and we've got to play our hand.

In sell-side research today, Merrill upgraded NVLS and booted KFT, UBS Warburg upped AMATand BGEN, Pru downed WSM and BBBY, Goldman raised numbers in VRTS and BEAS and, in the thataway call of the day, Warburg upgraded CLS while Bear Stearns downgraded it. Hey...Duke & Duke is gonna be psyched!

Dubya's speech last night is being combed through by the political analysts this morning and the net/net is that he's playing a high stakes game of chicken with Saddam. If the Iraqi leader doesn't step down (which doesn't seem likely), our President made it quite clear that we're going after him with or without global support. It was also interesting that he mentioned Iran (again) and, as we're edging closer to put up or shut up time, investors are likely to remain jittery.

Tells today will include our levels (see first post), the dollar (three year low vs. the euro), the semis (2 upgrades as it sits on the neckline), storage (on the heels of VRTS earnings), MSFT (hearing window is open), the financials (brokers) and, of course, our trusty internals. I will also be focusing on the stochastics as they're close to buy signals. In my minds eye, I "think" the market has a stiff rally coming but I believe it's going to start from lower levels. Actionable? Not sure--but as I think it, you'll read it.

Meanwhile, are you sitting down? The L.A Times reports that Raiders quarterback Rich Gannon refused to play in a preseason game two years ago because he overheard offensive linemen talking about how much they had partied the previous night. Evidently, he went to then-coach Jon Gruden and erupted, telling Gruden he had better get control of his team. You think Gruden knew the party habits of the Raiders before the game started? Ya think?!?

See you after the opening.

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No positions in stocks mentioned.

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

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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