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Buzz Bits: Dow, Nasdaq Move Higher Again


Your daily Buzz highlights...


Editor's Note: This is a small sample of the content available on the Buzz and Banter.

Earnings Report - MV News

  • TiVo (TIVO) reports 3Q EPS of ($0.12) vs. ($0.14) on revs of $52.6 mln vs. $54.4 mln cons.

Break a Leg - Kevin Depew - 1:30 AM

  • Taking a look at some PnF breaks of interest at midday:
    - Noble Affiliates (NBL), spread triple top with the move to 52 (See the chart free at
    - GlobalSantaFe (GSF) double top break at 58, price objective 67.
    - Schlumberger (SLB) triple top break at 67, completes bullish shakeout pattern.
  • Today's Five Things discussion of "TV Catchphrases" has Jeff Macke racing to create his own Fast Money catchphrase.
  • The following are on the table:
    "I just vomited in my mouth."
    "That's the kind of stock that will have you robbing liquor stores by the end of the week."
    "Stoop down low so your daddy can see."
    "Jimmy Swaggert says "Yeeah-us!""
  • Somehow, I think the Minyanville community can do better. Send suggestions here.

Why curve inversion doesn't matter anymore... - Bennet Sedacca - 10:36 AM

Elmer said it yesterday, as I mentioned. Thanks to Minyan Conor for sharing.

It doesn't matter in my book for the following reason:

The Fed knows that the US needs foreigners to buy its bonds. If they don't, the US will have to defend its currency by raising rates. If rates fall along with the buck, it is OK to own for foreigners. But if rates rise and the dollar falls, forget about it - they'll go on a buyer's strike.

Which means they can talk hawkish to keep the dollar up, but the bond market sees economic weakness which helps the positions of foreigners.

Minyans, these are strange times. Not bullish nor bearish. Just observing.

And, oh by the way, we are coming up on that multi-year trend line in 10's. If we break that, the whole world that owns will rejoice.

Tis the Season…of the Fractals? - Woody Dorsey - 10:11 AM

Many folks have declaimed and complained that the seasonals just aren't working this year. Maybe, but the fractals surely are. Sell in May and go away." The market did put in a May top and sell off hard…but not as long as expected. How about that Fall low? Well, the market did rally strongly this Fall (that is the seasonal too.) But the market did not decline much and did not provide any easy low (buy point.)

My firm thought that the low would come early in the Fall (9/7ish) as we had noted that the Dow had actually made its low in August of 1998. Seasonals are tricky as well as fractal. What about the X-mas rally? Do you remember the market high of 11/27/2001? Our stock sentient registered 99% bullish and that December was the worst month in financial history for Tech stocks. Gee, and we just had a 100% bullish sentiment reading last Wednesday.

There are Seasonals, Quasi-Seasonals and fractals of Seasonals. The market is like a riverbed that doesn't change much. What changes is the flow and quality of the water and the debris that it carries downstream. Market positions, investor perceptions and media stories are the flow or flotsam and jetsam of the market. Tis the season for…some December corrections, a weak form of January effect followed by more severe corrections.

What you need to know... - Jon Doctor J Najarian - 8:09 AM

Wal-Mart (WMT) Teams Up With AT&T (T) – Starting today, AT&T will begin promoting high-speed DSL service in 570 Wal-Mart stores in 13 states. This is the latest partnership for the carrier that now has 4,000 retail outlets for its communications products including voice, wireless, high-speed data and video.

NYSE & NASDAQ Combine Regulators – The two organizations responsible for policing the US's major stock exchanges said yesterday they will combine forces by the middle of 2007. The new group will merge the NASD's 2,400 regulators and examiners with the 470 regulators at the NYSE.

Assets in ETFs Increased 9.4% in October – There are now some 315 Exchange Traded Funds (ETFs), with 228 tracking US markets and 81 tracking international equity indexes. The split of money in each is $268 billion in US and $95.4 in international. There are 6 ETFs on bond indexes with some $19.9 billion invested in those vehicles.

Ryanair (RYAAY) Moves Aer Lingus Stake to 26% - The no-frills carrier has over half the shares it needs for management control and despite the fact that Aer Lingus refuses to speak with Ryanair, this increases the stakes significantly.

Position in WMT

No positions in stocks mentioned.

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