Quick Blurbs to End the Session
May peace be with you!
- 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?
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.
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