More Random Thoughts!
By Todd Harrison Oct 20, 2004 3:09 pm
Hit 'em hard bombers and this time put some STANK on it!
- This is the ride Hoofy is hoping to sport into year end.
- Lotsa fade trades today--first by the bulls, then by the bears. Pressers and guessers likely got whipped (again) and there's a lesson in that (no overtrading please).
- Crude is just plain rude--it's up 3% and pressing to new highs. The drillers have jumped 3% on the heels of that move.
- After the "Popeye" comic strip started in 1931, spinach consumption went up by thirty-three percent in the United States.
- Lots left on this week's trading radar.
- If your time horizon and risk profile don't overlap, your profits may fall through the cracks.
- A huge short base has built up in the Yankees.
- "The S&P closed yesterday at 1103.23, which is just above the support at 1101 (September 28). However, the near-term momentum indicator made a new reaction low (below the September low). This new reaction low is (a) a negative divergence in that momentum is deteriorating faster than price and is (b) intimating that the S&P 500 will break below support at 1101." Minyan John Roque of Natexis Bleichroeder
- While I'd love to see Clemens face the Yanks, I've gotta root for the Cards as a function of JB.
- Google (GOOG:NASD) is getting tagged for 5% in front of earnings.
- Baseball during earnings? Unfair.
- Citigroup (C:NYSE) $43 is a level to watch as an over/under into the close.
- The focus shifts back to the rude crude as the bulls try to hold it together. While the camel must be having backaches by now--and there is definite muck in select sectors--the broader tape has absorbed the supply. Indeed, breadth is balanced and the futes are on either side of unchanged.
- I wonder if they're from Red Dye?
- The United Healthcare (UNH:NYSE) pressers are learning the hard way that risk is two-sided.
- The small caps are back at the 200-day (RUT 570).
- Do you think they'll seek asylum in the 'Ville?
- Aunt Fannie (FNM:NYSE) banged her keppe right at technical resistance ($69-$70).
- I've gotta scoot for a midtown meeting on the bell. Good luck into the close and LET'S GO YANKEES!
position in c, fnm
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