The Pettitte Files
"Baseball may be a religion full of magic, cosmic truth, and the fundamental ontological riddles of our time, but it's also a job."
--Annie Savoy, Bull Durham
I know I'm not gonna find much sympathy among the Minyanhood but, as a Yankee fan, it's a sad day in the Bronx. I understand that Andy wanted to stay close to home--and I wish him all the best--but you can almost hear the cheers up in Bah-stan. It's bad enough that I gotta listen to the Patriot fans--but does the silver and black have to wear pinstripes too?
Back to life, back in reality, Intel (INTC:NASD) took a swig of the crimson whiskey as my last column posted and, sure 'nuf, the Minx took a brief breather. Our situation remains much the same--we're at shvitz or get off the pot levels as we head into the home stretch. As an objective observation, the breadth didn't budge during that blink-and-ya-missed it blip. In a vacuum, that's bullish. But, then again, we don't live in Hooverville.
So here we are. After a few days of distributive action, we've seen a mad dash to reestablish exposure. While the futures are perkier than Andie Walsh (did you get that one?), I'm still wonderin' how many trading types will bail if (monster if) we don't bust out. It'll take some moxie to put Dow Ten Thou behind us--NASDAQ 2000 hasn't been touched since the initial tickle--but anything is possible (if not probable). The horsies should help tell the tale (Intel, Microsoft (MSFT:NASD), Cisco (CSCO:NASD) and Oracle (ORCL:NASD)) and, as of this post, all four are flirting with redness.
In our Minyan poll, Jimi has the top pick, followed Stevie Ray, Clapton, Eddie Van Halen (don't shoot the messenger) and Jimmy Page. In our Minyan charity auction, Neal "the real deal" is in a league of his own with his $4000 high bid. In six short days, we're gonna hang up our cleats and let our hair (or what's left of it) down. I've got a couple of special guests coming (that the professors don't even know about) and it promises to be a stone cold groove!
As always, I hope this finds you 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 firstname.lastname@example.org.
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