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Random Thoughts

By

Be very careful Toddo!

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  • 2,560,000,000 golf balls were lost by duffers in the last year.

  • The S&P, NDX, BKX and Dow Jones stochastics are all "crossing" at the top (bearish). They're obviously not absolute guides (what is?) but it's a data point worth noting.

  • Through objective eyes, the market trades relatively well (thus far) given the General Electric (GE:NYSE) action.

  • It was great to see my old shop last night. Even Martin.

  • After my last post, I received this email from Minyan Mattison Reinecke (from Italy!): Dr. Vernon Smith, the 2002 Nobel Prize winner in Economics, is perhaps best known for his work in experimental economics related to investment bubbles.He has shown that new participants in his experiments consistently produce a bubble and a subsequent crash even when the value of the traded asset is well known by all participants. After experiencing the bubble in the first round of trading, participants then trade during a second session. Again, they produce a bubble and a crash, but the second version is smaller than the first. He subsequently asks participants why they took part in the second bubble given their experience with the first. Their response, according to Dr. Smith, is uniform. Participants thought they could make money in the rally, but would be able to get out in time to avoid the losses. Sound familiar??

  • The average person's skin weighs five pounds.

  • The Nazz breadth is now 9:5 negative while the big board is flattish.

  • If you could pick Derek Jeter, Nomar Garciapara or Alphonso Soriano (at age 18) to start a franchise, who would you choose?

  • That was a very quiet (and sharp) rally in crude this last month.

  • Remember in Bugs Bunny when duck season and wabbit season kept flippin' around? These last few years have felt similar for Hoofy and Boo.

  • A hearty congrats to Minyan Denis Cormier and his wife on the birth of a bouncing baby boy. Now Denis....put the cigar down and pick a name--I'll give you a free one year passport if you name him after a critter!

  • Early peek at the coming week: Tuesday: Bank of America (BAC:NYSE), Johnson & Johnson (JNJ:NYSE), Merrill Lynch (MER:NYSE) (morning) and Intel (INTC:NASD), Motorola (MOT:NYSE), Novellus (NVLS:NASD) and Teradyne (TER:NYSE) (afternoon). Wednesday: General Motors (GM:NYSE) (morning), Apple Computer (AAPL:NASD), International Business Machines (IBM:NYSE), Qlogic (QLGC:NASD), Seibel (SEBL:NASD) (afternoon). Thursday and Friday are an economics and earnings avalanche and we'll preview them when the time comes.

  • Pricing power? What pricing power?

  • Did everyone get a chance to read the article that I referenced this morning?

  • Daisy is lookin' mighty disheveled these days.

  • Is there a chance that the market is readying to blast off through the recent highs? Yes, there is. With S&P 1050 within spittin' distance, however, we should know sooner rather than later if this is to be.

  • Gotcha again! Gene Hackman WAS in Young Frankenstein (he played the blind hermit).

  • Speaking of old flicks, how great was Michelle Pfeiffer in Scarface?

  • Monsieur Fleckenstein's rap (that's FleckenSTEIN) can be found at his own site. He is, so you know, still a part of the Minyan family.

  • I hear Apollo Creed is running for the Senate.

  • Download your Minyanville ICON here.

  • Will earnings YHOO! (YHOO:NASD) or Juniper (JNPR:NASD)?

  • When is the last time you went to a museum?

  • How many Boston Minyans are going to Fenway tomorrow? (I need a miracle)

  • Professor Succo and I will be making a pilgrimage to the University of Pennsylvania to speak with their finance club. If you're a student Minyan and have a similar interest, please let us know and we'll see what we can do.

  • I once knew a girl named Candy Mintz.

  • It's good to see Dave Kansas on the tube. He's gotta be pretty psyched about his Vikings!
position in qqq, bac

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 todd@minyanville.com.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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