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Buzz Bits: Dow Closes at Record High, Nasdaq in the Green


Your daily Buzz highlights...


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

Bell Buzz - Todd Harrison - 3:58 PM
  • In like a lamb, out like a chop. And so it is, the tape scrapes into the weekend and not a moment too soon. This Minyan is running out of fuel.

  • Hands over eyes, the ability for the market to continue with rolling rotations (homies -2%) vs. outright migrations is constructive action.

  • Given the current mindset, does anyone think that the market could fail before the midterm elections?

  • Or are they still underinvested, as per Minyan Michael Santoli's recent vibage?

  • As a Raider, Knick, Yankee and Ranger fan, the words "Syracuse could be final-four good" are music to these ears.

  • As we hop into the weekend bender, lemme quickly wish Minyans a mindful respite. I'll see YOU in a scant sixty-ish hours.


Mini Minyan Mailbag... - Kevin Wassong - 1:58 PM


Yahoo! (YHOO) is getting a lift here after a Goldman analyst conducting a 3Q preview call said Comcast (CMCSA) or AT&T (T) may buy YHOO, though I'm not sure of the context. While I consider YHOO a content aggregator, not owner of content, do you think in 2007 users in cable/telecom will be extending their arms into the content equation?

I'm just curious what Comcast's next move is. The stock is flying, all the buyside I talk to have the 'need to own it' mentality. I just feel that Brian Roberts will want to do something big and has the currency (via his stock at multi year highs) to do it. With the stocks where they are (CMCSA, T, etc. hitting 52-weekish highs) they have the currency to do it.

He has tried to get into content before, attempting to buy Disney (DIS). They have talked up wireless as the next leg in the triple play (making it a quadruple play). I don't buy it. Unless they own the network, offering a re-branded Sprint (S) phone is a money losing business, in my opinion. So do they buy Sprint? Do they get into content via acquiring a Viacom (hard to do with Sumner's control) or YHOO type deal to catch the web craze?

Minyan Mark


A YHOO acquisition would give it instant cred in the web side and it's certainly looking for new ways to control what flows through the pipes. I really think T is a much more interesting play. It needs it badly to salvage the brand. It has put a tone behind branding and positioning similar to Verizon (VZ) and Comcast. The company tries to compete for the pipes to the home and an acquisition of Yahoo certainly would put it back on the map in a big way – let alone get it in the content game.

Position in CMCSA, YHOO

Patience is a virtue - Ryan Krueger - 1:27 AM

My firm has just recently put on a trade in Masco (MAS), a stock I have spent more time loathing than loving, but it qualified for one of our quantitative roster spots based on a particular blend we were looking for. It certainly wasn't the products I knew well.

Anecdotally and sadly for the Mrs., I cannot even drive a nail. I am astonished with how many actually like to. We have a radio show down here in Texas and in the past eight years, one ratio has never changed. There is about a 15 to 1 mix on local radio of home improvement to financial improvement. Long ago I stopped trying to figure out the fascination with stucco while stocks were taboo.

But I learned to not underestimate the unyielding desire of consumers to consume, and it's consistently misunderstood by much of Wall Street including myself. I tried to share a humble and certainly unpopular version of the Other Side of the consumer the week following Minyans in the Mountains. Soon, I will be taking a look at one of my favorite consumer "shops." We all agree this segment of the population is soaring but hardly anybody is putting their chips on this flush hand.

Position in MAS

Tale of Two Trades - Kevin Depew - 1:19 PM

Yesterday for the first time in more than five sessions we finally saw a couple of DeMArk TD-Sequential buy signals in S&P 500 stocks. Archer Daniels Midland (ADM), gave a TD-Sequential buy signal as did Transocean (RIG).

Here's where I might use PnF charts for some context. In the case of ADM, the chart here shows quite a bit of "air" between the recently violated support level at 38-39 and the next nearest PnF support in the 24 area. The presence of the DeMark buy signal tells me this is not a short to "press" on the PnF breakdown though, and instead is either a short-term upside trade into former support or a longer-term sell sometime in the next week after the buy signal is worked off.

RIG on the other hand shows higher PnF bottoms and the potential for an interesting break at 71. I would be more inclined to buy this stock for a trade on the DeMark buy signal even though I believe the secular bull market trend is over for this sector.

NDX pulling ahead by a nose as the finish line approaches - Rod David - 11:41 AM

have remained in negative territory throughout the morning. The Dow has edged to lower and lower lows. Interestingly, NDX rallied to higher highs.

The theme of NDX playing catch-up is coming at the expense of other indexes as expected. So it is also interesting that the NDX's MACD and RSI are diverged negatively into this morning's higher highs.

Markets will be ready to correct down again when NDX has "caught up" and all indexes are essentially in-sync with each other. That might require S&Ps to probe new highs and the Dow to retest yesterday's close.

Alternatively, this might already be the case if the Dow were making new session lows and NDX was back in negative territory going into the noon hour.

Trending is difficult to generate on Fridays if it isn't underway at the open. And if sellers haven't taken control soon after the noon hour, then the balance of the session could drift higher simply by default.

Buy when you can, not when you have to. - Bennet Sedacca - 10:16 AM

I borrowed Toddo's quote. I live and die by this fact and discipline. I realize that 'buy high sell higher' works for the momentum boys, it just doesn't work for me, now or forever more.

Sometimes you just suck it up, under perform for a while, and keep risk low if your methodology says to.

I must admit to some under performance the last few days. I am annoyed as anyone would be but as a disciplined investor, and a manager of OTHER PEOPLE'S HARD EARNED money, I will resist the temptation to chase.

Lastly, buy from the fearful and sell to the greedy. In the long term, at least in my case, this works. I guess I'm just a party pooper.

What you need to know... - Jon Doctor J Najarian - 8:23 AM

General Electric (GE) Sales +12%, Financials Strong – Earnings were $5.1 billion, or $0.49 per share, which exactly matches Street estimates. Given the strong revenue number, we may see better than the $0.05 rally in the pre that I'm tracking right now.

McDonald's Blasts Above Estimates - The Oak Brook, Ill.-based fast food chain grew revenue and profits faster than expected due to European sales, premium coffee and their new Snack Wraps. Comparable store sales in the US, McDonald's largest market, increased 7.1% in September and 4.1% for third quarter.

Wheat Supplies At Lowest Levels in 25 years – The news of dwindling stockpiles didn't drive Wheat up, as it has already had an incredible run. In fact, even news from the Ag Dept that Australia's's crop would be only 8.5 vs 20+ million was fully priced into the products.

Nymex Members Approve IPO - The world's top commodity futures exchange got an overwhelming approval for going public. Yesterday a full Nymex seat sold for $5.25 million, so the quick math says the exchange is valued at $4.28 billion.

Position in GE

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No positions in stocks mentioned.

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