But I thought the economy was improving?!?!
- Do people follow technical analysis because it works or does it work because folks follow it? Not sure, but there's something to the chart world--note how the S&P pegged the oft-mentioned 1130 level into yesterday's close.
- It's an aberration but a step in the right direction. And note that the dollar is gettin' waxed this morning. DXY 87 has been an area of support.
- A 27-year-old man, arrested after trying to rob a Bank of America in Enid, OK, told police he merely intended to help repay the national debt. (KTUL-TV)
- We flagged some foreign central bank selling last week. Here's a little follow-up...
- Each of the four primary metrics--fundamentals, technicals, psychological and structural--serve as legs under a tradable table. And while the objective is always to line up as many "supports" as possible (for a stable thesis), there are times that the foundation quivers underneath. I view the VXO as a "Richter Scale" in that regard, and with vols ticklin' the bottom end of the teens, the tape is more susceptible to system shocks. It may not matter (California has been rumored to fall into the ocean for years) but it's an underlying risk.
- Only 12 days left in the bet, Mr. Collins. But there IS hope...
- Rolling rotation or chinks in the armor?
- Beeks! Unemployment rate for Sep came in at 5.4% vs 5.4% exp; Average hourly earnings m/m came in at 0.2% vs 0.3% exp; Average hourly earnings y/y came in at 2.4% vs. 2.3% prior. Change in non-farm payrolls for Sept came in at 96k vs 148k exp; Change in manufacturing payrolls came in at -18k vs 10k exp; Average weekly hours for Sept came in at 33.8 vs 33.7 exp.
- We flagged the Liscio report on the Buzz yesterday (they opined that the change in non-farm payrolls would be 80k). Nice job, fellas.
- We've noted the DeMark "red 13's" (sell signals) littering the European landscape. Thus far, the bourses have hung tough and stayed sticky.
- Entertainment. Media. Entertainment. Media.
- We saw some sizable S&P put buyers and NASDAQ future sellers into yesterday's bell.
- Ready yourself for widespread rationalization. The bulls are already wearing the rose-colored glasses.
- No worries--53 is my favorite number too!
- My intermediate-term stochastics are "crossing" negative. Not timing indicators, as we know, but an input nonetheless.
- I sure wish Stevie Ray was still around.
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 email@example.com.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter