By Todd Harrison Nov 24, 2004 11:00 am
I've seen more action in the back of a barn!
- Someone once told me to write about what you love and what you know. That's why I always mention Ruby when talking about the markets.
- The Bernstein bears.
- There is something very wrong with this.
- That ain't workin', that's the way you do it...
- I put a coupla legs in the fur yesterday around S&P 1180 and I slipped the last leg back out today (around S&P 1180). Why? Firm financials, 2:1 NYSE breadth, thinning market and lack of a discernable edge. Let's call it a push as I dance, uh...flattish into the weekend on my active risk.
- The other side of the gold coin (and offered in the interest of balance rather than agreement).
- "China's custom is that we never blame others for our own problem," said the senior central bank official. "For the past 26 years, we never put pressure or problems on to the world. The U.S. has the reverse attitude, whenever they have a problem, they blame others." - Li Ruogu, the deputy governor of the People's Bank of China
- More gobblin' on the greenback.
- The News & Views content is light today and will likely be thin Friday as well. We'll be back full thrust on Monday so thanks kindly for your patience.
- Fallujah was unexpectedly bombed with Matzah balls last night...
- "With the S&P 500 price/peak earnings multiple now above the levels registered at the 1929, 1972 and 1987 peaks, stocks have moved back into the 'bubble' area seen only briefly during the period leading up to the market's 2000 peak. The combination of overvalued, overbought, overbullish, and overleveraged conditions doesn't strike me as a particularly sturdy environment to support further gains. Of course, risk preferences are a psychological factor, not a fundamental one." - John Hussman, Hussman Funds
- Auburn, USC or Oklahoma?
- The two best tidbits of advice I ever received were to view obstacles as opportunities and that the difference between success and failure is tenacity. You really gotta want it and to get it requires a constant motivation that few possess.
- The US EIA reports that crude oil inventories rose 100,000 barrels and gasoline inventories rose 1.8 mm barrels. Crude dipped, blipped and is now down 1.2% on the day
- Just beat the Ponies and I promise I won't ask for any sports magic until March.
- Rich Gula wrote an awesome column yesterday.
- On this date in 1998, AOL announced a deal for the purchase of Netscape for $4.21 billion.
- Minyanville encourages creativity and literary freedom. it is what we make of it. and yes, there's the network--likeminded professionals and sophisticated individuals who crave to be intellectually provoked.
- Trade smart--don't bet just to bet.
No positions in stocks mentioned.
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