By Todd Harrison Oct 18, 2004 11:29 am
I'm gonna defend S&P 1100!
- It was a tough Sunday for sports. Mo blew a save opportunity and breathed fresh life into the listless Sox and my poor Raiders got shell shocked by the dreaded Donkeys. Oh, the agony of defeat!
- Rice Peel-off.
- This morning was all about post-expiration posturing and this afternoon will be about earnings manicures. Int'l Business(IBM:NYSE) and Texan (TXN:NYSE) will lead the parade, while Kla-Tencor (KLAC:NASD) holds their shareholder meeting.
- You think Godzilla is lighting 'em up? Carlos Beltran of the Astros is putting everyone to shame.
- "The net foreign inflows for last month was just reported at $59 billion. With a current account deficit (what we borrow from foreigners to buy their goods) at $55 billion and Net Direct Foreign Investment at $5 billion (when we buy a plant in China), this means that there was net net $1 billion dollars more sold than bought. This means that the dollar's relative value must decline to make up the difference. This is why the dollar is falling this morning." John Succo on this morning's Buzz.
- I wonder if Colagero and Jane ended up together?
- 3M (MMM:NYSE) is 30 points of the Dow loss.
- Front month crude futes are off a percent while the energy patch (OSX/XOI) takes a similar breather.
- INDU 9800 and S&P 1100 remain rip cord lines.
- It's too bad he didn't watch Tootsie!
- The biotechs are buckin' the trend with their 1% jig. They're currently testing the 50-day moving average.
- I not only broke my diet this weekend, I shattered it. That's bad news with two days remaining in our weight debate.
- The Russell is back below the 200-day.
- Breadth is 2:1 negative on the big board and 3:2 negative for the Nazz.
- On this date in 1977, Reggie Jackson tied Babe Ruth's record for hitting three home runs in a single World Series game.
- Tinted windows don't mean nothin' they know who's inside...
- Minyan Jeff Saut of Raymond James offers some salient insights in his always excellent weekly missive. "Historically, when money supply contracts, coincident with waning consumer sentiment, it has not been a particularly good environment for stocks. Moreover, with the dollar index below its 50- and 200-day moving averages, and close to breaking below its August reaction lows, there is the potential--repeat potential--for a hedge fund margin massacre."
- Can you imagine the penalty kicks?
No positions in stocks mentioned.
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