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Quick Blurbs to End the Session

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May peace be with you!

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  • For those monitoring the Minx/Jinx correlation, we're in the 57th week of this rally which corresponds to the Nikkei in 1993. The 57th week in 1993 saw a higher high early in the week and closed terribly, marking the top (was down 20% three months later). Obviously, this is hocus pocus stuff but the correlation to date has been uncanny.

  • A Minyan forwarded me a website that offers meaty food for thought.

  • Remember, Japan had some blowout GDP numbers early in their affair.

  • Looking at my charts, I can see very clearly what the bulls are looking at. Not only does it "feel" as if there's a good bid to the tape, but there is a case to be made that we're basing for a blast off. That is why I've chosen to set up my book with decent sized gamma.

  • Where does the Burned Razor lose its edge? A decisive close above S&P 1070.

  • The financials continue to be the single most important sector in the marketplace and they don't come in (read: sell off).

  • If this has been a liquidity driven rally, it's worth noting the recent abatement in money supply figures.

  • I wish I had the patience to put on the long energy/short tech trade for five years and not touch it. I'd toss some Fannie Mae (FNM:NYSE) puts in there to keep 'em company.

  • 2-6. What a disgrace.

  • Pull up a chart of the consumer index (CMR) and a chart of the cyclical index (CYC). One looks like it wants to break out while the other looks uber-extended. Is it finally time for the consumer over cyclical trade to kick in?
position in fnm
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