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Random Thoughts


The greatest aspect of the 'Ville? Human capital.

  • Before Hoofy screams Yahoo!, he's gotta get the stock through former support and current resistance at $25. That's the technical level---and that's where the open interest lives.

  • Tell Check? Breadth is stubbornly sticky at 2:1. That's the good news. The not-so-hot news is that the drillers, semis, Yahoo! and metals are getting whack-a-moled and the piggies are (slightly) under BKX 114 support.

  • Yes, it felt a bit panicky and "blow-offy" this morning but unless we see a downside reversal, this will be just another day in paradise.

  • IBM is 30 points of today's 39 point Dow gain. I know, I know...I'm just saying.

  • The weekly Investor's Intelligence survey finds bullish sentiment unchanged from last week's level of 52.2% while bearish sentiment dropped slightly to 30.0% from 30.4% in the prior week.

  • I'll tell ya, Jamie Dimon is one heckuva CEO. It makes me wonder, at times, why I own JPM puts. As Stan Gold once said to President Fish and I, "I don't invest in companies, I invest in people." Sage advice.

  • Speaking of JP Morgan, the numbers were fabu but three quick thoughts:
    • Financials trade with an eye out the front--not rear--mirror.
    • The fact that they "don't expect the favorable credit environment to continue" likely isn't helping.
    • Amaranth contributed favorable (one time) gains to the quarter.

  • It's 106 miles to Chicago , we've got a full tank of gas, half a pack of cigarettes, it's dark and we're wearing sunglasses. Hit it!

  • I've always maintained that ex-chocolate and pizza, I would weigh less than a deuce. I'll also offer that I don't "believe" the numbers communicated by the BLS. They simply don't jibe with the world I live in.

  • The greatest aspect of the 'Ville? Human capital. In that vein, I'm looking forward to my chat and chew this evening with the savvy soothsayin' sommelier Jeff Saut of Raymond James.

    Yes, he'll be there for the December 1st Festivus, along with a slew of other folks who are great at what they do but better at who they are. Out-of-town Minyans who are traveling into Manhattan for the event can connect with Miss Vanessa for some room deals.

  • "What if we had a day or week that was -20%? And all you had was 15% equity. Can you say panic? Again, not advice, just an opinion that we have a government that will stop at nothing to keep asset prices rising. It may be the fuel, I hate to admit, to push us through the 1370 level. And as stated previously, there is no resistance, in my view, above 1370 until 1550. I asked Pepe and he said the PnF count is 1640..." Professor Bennet Sedacca on today's Buzz.

  • Dink...Dink...Dink...The following Buzz took place between 9:00 AM and 10:00 AM

    Pop, Stop & Drop?

    Did you hear that?

    That buzzing sound?

    No, not the Buzzing sound...the buzzing sound!

    It's like flies abound. JP Morgan flies (-1.6%). SOX flies (-1% with Intel UP!), Yahoo! flies (-1.2%). Driller flies (they just don't feel right).

    If it weren't for that darn breadth (almost 4:1 positive), I would feel pretty strong about hitting bids faster than Warren Beatty used to hit....never mind.

    Just stay on your toes, Minyans, with the huge sigh of relief behind us (DJIA 12,000), there may be a gasp of air in front.


position in jpm, metals

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

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