By Todd Harrison Oct 22, 2003 12:13 pm
If you're looking for a bounce, I may be your best shot.
- Yes, Minyans, I know that American Woman is a Guess Who? ditty.
- "No warning can save a people determined to grow suddenly rich." - Lord Overstone
- A Minyan forwarded me an interesting article regarding the markets into year.
- The early bird gets the worm, but the second mouse gets the cheese.--Steven Wright
- Mind the gap on both sides of the track. We've got the gap from the open (above S&P 1038) sitting upstairs while the vacuum below might cause some despair (S&P 1030-1020 from October 3rd).
- NDX 1390ish is an area to watch (the October double bottom low).
- As a baseball fan, it's hard not to like the Marlins and their aggressive style of play. As a Yankee fan, I wanna see the boyz go out on top as they're not getting any younger.
- Don't trade scared.
- The banks should find some support around the BKX 900ish level (breakout/50-day) if and when.
- Mellon (MEL:NYSE) got thumped yesterday on net interest margin concerns and takeover chatter. A bunch of firms have defended it today but, thus far, to no avail. Why can't I get the image of Rodney Dangerfield out of my head?
- There's a ton of overnight earnings.
- The volatility measures are starting to perk up but remain in bungee territory.
- Why do we park on driveways and drive on parkways?
- I would like to officially welcome Dan Meehan and Mad Dog to the Yankee bandwagon. ;-)
- Until the uptrends are broken in the major averages, these pullbacks are just that--pullbacks. The only problem with that analysis is that we won't know if it's something more ominous until prices are much lower.
- Europe is down a deuce across the board.
- The peripheral damage to the financials is (thus far) contained.
- I have to use this quote again because I think it's so apt. "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks...will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered...The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." --Thomas Jefferson.
- The monopoly peg continues as the dollar probes new lows.
- There is no fear out there. The bulls will call that orderly, the bears will scream complacency. If the Burned Razor is to evolve, the second and third dips will need to fail.
- I've given Fokker the original morning column and it's in his hands as to whether he wants to post it this afternoon. (I am visiting a company and will be AWOL after lunch).
- Spooky thought: The bear market hasn't even begun in real estate.
- The "full circle" in market psychology amazes me.
- Hey Len Spivak...I know one of Ruby's favorite sayings was "never thank me" but, well, thank you. You're the best.
- Cheerleaders belong on the sidelines, not on television.
- I just hung up the phone with my pal Fleck and, from what he tells me, the two of us (and Fred Hickey) are on the same page. So you know, Monsieur Fleckenstein (that's FleckenSTEIN) is still a contributing Minyan--he's just been jamming on his own (fantastic) site.
- Man, I love Zeppelin.
- Don't miss Professor Brook's latest piece.
- Daisy just called and asked if Snoop Tone's hot tub can fit an udder gal.
- Patience brings price.
- If there is to be a Snapper, it will likely start with the banks. Citigroup (C:NYSE) and Bank of America (BAC:NYSE) trade dry given the JP Morgan (JPM:NYSE) pooh. The longer the Minx stays down, however, the more likely we close near the lows.
- Have you seen the critter biographies?
- Fare ye well.
position in qqq, c, bac
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