By Todd Harrison Nov 10, 2004 12:01 pm
Fed days are always a tale of two tapes.
- Thank you sir may I have another!
- Curious action for an 'expansion.'
- I would venture to guess that it's not "company specific."
- I finally found a use for TravelZoo (TZOO:NASD)!
- "A little patience, and we shall see the reign of witches pass over, their spells dissolve, and the people, recovering their true sight, restore their government to its true principles. It is true that in the meantime we are suffering deeply in spirit, and incurring the horrors of a war and long oppressions of enormous public debt. If the game runs sometimes against us at home we must have patience till luck turns, and then we shall have an opportunity of winning back the principles we have lost, for this is a game where principles are at stake." --Thomas Jefferson in a letter sent in 1798 after the passage of the Sedition Act:
- The pile-driver, suplex, claw!, figure-four leg lock, sleeper hold, arm-bar, elbow drop, drop kick, clothes line, full nelson, body slam, cross-face chicken wing, Boston crab...
- "Overbought conditions imply a market that is stretched, but severely overbought conditions imply a market with thrust and power behind the move. Our momentum indicator is showing a clear overbought condition. That condition is the most dramatic since the move off of the low in March of '03, implying power and long-term sustainability. As this indicator contracts, the market is likely to consolidate, but historically such readings give advantage to bulls." -Jeff DeGraaf of Lehman Brothers.
- Drop and you'll get 20!
- The U.S. Treasury has announced that, as a function of bumping up against the $7.384 trillion federal borrowing limit, it does not have the authority to issue the regular four-week bills that would have been sold next week. And you thought they weren't paying attention...
- Minyan Neal has been scouring the earth for a copy of "When money dies: The nightmare of the Weimar collapse" by Adam Fergusson. He asked me to pose the question to the Minyanhood and, well....there it is.
- Meanwhile, in the O.C....
- Flaccid Pfizer (PFE:NYSE) is trading at levels unseen since July 2002.
- Why am I picturing Phoebe chasing her tail?
- Random Buzzes from Jeff Macke on cars and scars.
- The DoE data hit the tape and crude got rude to the tune of 1.5%. Hoofy and Boo are both eyeing the camel to see if this particular straw has any effect on durability. The Cisco (CSCO:NASD) straw is already on the saddle, mind you, and Elmer's fourth hike will likely mount the Hump as well. Humps on the Hump!
- Fannie get your gun!
- Gotta love critter friendly verdicts!
- NYSE breadth is firm at 2:1 positive.
- It's been a relatively strong day for the dollar. It's flat.
- Bonds are closed for Veterans Day tomorrow. What gives on the equity side?
- While NO approach is fail-safe, the incorporation of the Horse's mouth has made me a much better trader.
- Wanna do the critters a solid? Offer a gratis month of Minyanville to your firm/network/school! Word of mouth is the lifeline of the 'Ville!
position in fnm
Get The Minyanville
Daily Recap Newsletter
Daily Recap Newsletter