By Todd Harrison Oct 08, 2003 12:20 pm
Even Sea Biscuit needed a breather once in a while!
- Over the last month or so, there have been major blackouts in the United States, Britain, Italy, Denmark, Sweden and the Czech Republic. Coincidence?
- Last night's Cubs game (Marlins game?) was absolutely insane. Minxy type swings!
- As a follow-up to this morning's missive, I wanted to offer a more granular road map that's started to crystallize in my crowded keppe. Try this on for size: After we fickle through this zone, a decent correction sets up that trends the market lower into late November. Then, after the bandwagon fans get shaken out, the Minx sprints higher into January (before a more serious/ominous spill in the early months of '04). It's kinda like the Razor Burn...only in reverse. Let's call it the Burned Razor and see if it sticks.
- A mosquito has 47 teeth.
- The tone of the tape has gotten a bit sloppy with the BKX (banks), SOX (semis), BTK (biotechs) and breadth all flashing yellow.
- Listening to the Jeff DeGraff (Lehman's uber-talented technical analyst) on his conference call, he believes that gold is in a long-term secular bull market and equities--while rallying as a function of the flush of liquidity--remain in a long-term secular bear market (I believe the actual words he used were that "there's still boogie men under the bed). Just an fyi--he's a pretty sharp cookie.
- At age 47, the Rolling Stones' bassist, Bill Wyman, began a relationship with 13-year old Mandy Smith (with her mother's blessing). Six years later, they were married but the union only lasted a year. Not long after, Bill's 30-year-old son Stephen married Mandy's mother, age 46. That made Stephen a stepfather to his former stepmother. If Bill and Mandy had remained married, Stephen would have been his father's father-in-law and his own grandpa.
- Levels to watch (yearly highs): S&P 1040, NDX 1406, BKX 923, SOX 473, BTK 514, RAIDERS .500
- Wine has tinted bottles because it will spoil if it's exposed to light.
- Thank you kindly for the mounds of support regarding the upcoming Critters Choice Awards. To be clear, tickets are not yet on sale. Please continue to check the dedicated web site for updates in that regard!
- Minyan Quiz: What's the third largest selling soft drink in the world? The first winning answer sent to firstname.lastname@example.org wins their choice of a snazzy new Minyanville tee!
- Europe has pared its gains but still trades with a decent tone.
- YAHOO! (YHOO:NASD) starts the parade tonight, Juniper (JNPR:NASD) takes the baton tomorrow and General Electric (GE:NYSE) will step onto center stage Friday.
- Software and the internets continue to act a'ight but the semicaps have given up their gains.
- Many of the "smartest" hedgies out there are down on the year. Call it revenge of the herds....but don't beat yourself up if you're not trading up to snuff. It could be worse.
- Tony Gwynn was a silky smooth hitter.
- A Minyan from Beirut, Lebanon asked that we send some prayers for peace his way. Consider it done.
- Slurpie and Brusier are alive and well.
- Beeks will deliver tomorrow's jobs data. Initial claims are expected to come in at 395k (continuing claims 3662k).
- Is Pudge THAT good?
No positions in stocks mentioned.
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