May peace be with you!
You can spend all your time making money
You can spend all your love making time
If it all fell to pieces tomorrow
Would you still be mine?
The afternoon fray continues its way as we edge to the end of another day. For all the hype surrounding the payroll data, the roar of the lion has been a bit sheepish. While there's surely time left for fireworks (as everyone tries to read Snapper's cards), the great debate is still in play. The (much discussed) technical set-up is still there, the tenor is (thus far)firm and Fokker is still wearing his leather Underoos. When's the kid gonna learn?
As difficult as it is to imagine, Boo maintains that he's still got game. The specter of higher rates (see the homebuilders), coupled with massive complacency and a dark horizon, portends thunderstorms in Minyanville. Hoofy, dancing without an umbrella, thinks the furry fella has flunked his flank. "We've got job growth, we've got breakouts, we've got leadership and we've got Daisy," he offers, "What else could we possibly ask for?"
The bull deserves the benefit of the doubt, I suppose, and it's his ball to fumble. If the trend is your friend, he's certainly the most popular kid in the class. Still, be wary of the talky teletubbies bearing pom poms. I certainly haven't been the hottest ticket in town (and thus in no position to pass judgment) but I think they're gonna bury alotta folks on this one. Again, it's just my humble opinion, but I would be remiss if I wasn't an honest Abe.
Beeks is on vacation next week and the earnings season will trickle towards a close. Applied Materials (AMAT:NASD) will report on Wednesday and Wal-Mart (WMT:NYSE), Target (TGT:NYSE), Dell (DELL:NASD) and Kohls (KSS:NYSE) (among others) will paint the tape on Thursday. Other than that, we'll be left to our own devices to juxtapose the prevailing psychological, technical and structural backdrop. I've got an inclination that it's gonna be a hairy ride (despite the quiet catalyst front), so rest up.
I'm gonna turn my attention to the whippy ship and navigate my way towards the close. It's been a long week and, truth be told, I'm pretty fried. This business has a habit of consuming you and, if you're not careful, it'll dominate your thoughts and "push out" the other, more important aspects of life. I'm guilty of it--we all are, at times--but that doesn't mean we can't try to balance. Take this weekend to smile and enjoy--you've certainly earned it.
Fare ye well.
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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