By Todd Harrison Dec 14, 2004 4:00 pm
May peace be with you!
- The combination of a non-shocker from Elmer, a nudge from General Electric (GE:NYSE) and performance anxiety in the Street is lending a bid to the tape. The question now becomes one of timing and sauciness---FOMC days are notoriously known for "first move head fakes"
- This is now the second time I've written these Randoms--the first batch was chewed up by my trusty computer just as I was finishing up. Sigh...
- They're not gonna turn the machines back on. Are they?
- "The SPX continues its ascent into higher ground, and volume flows remain complimentary as expansions in turnover support the bull cause. What we are seeing from the perspective of internals is this market's ability to confirm with the 52-week new high list. Only 8.2% of the SPX is trading at a new high, a continual contraction since the 20% figure set at the beginning of November. This isn't a sell signal, but instead a breadth indicator with a higher standard that offers internal indications of momentum." --Jeff DeGraaf of Lehman Brothers
- Remember the "biggest news in Minyanville history" that I was gonna share this week? It's still happenin'....but for reasons that will become apparent when the time comes, we won't make the splash until the new year.
- It'll be interesting to see if the mo'mo go'go crowd mutters "company specific" with regard to the RIMM news (RIMM:NASD) or if it quells the momentum driven swell.
- Count to ten before you send.
- China Rider!
- I opined on the Buzz (earlier today) that the Google (GOOG:NASD) giggle could have the last laugh as a function of the pennant. That's not advice--and there IS lock-up stock coming--but it has broad implications and should be on ye radar.
- Don't bet the ranch!
- Intervention analysis?
- Crude is rude to the tune of a deuce (2%).
- Minyans are a special bunch. Anyone who would like to assist Minyan Neal in his quest to help young Juliana, please click here. As The Ruby Peck Foundation for Children's Education charter mandates that we distribute our funds to educational charities, I will be making this particular gesture from my personal account.
- "A combination of leverage, relatively illiquid assets and, in many cases, model-based approaches to trading and valuation may, in the event of material asset price shifts, exacerbate stressed conditions."
- We are hard at work building the "special gifts" for the holiday Festivus next Wednesday. Between that, the entertainment and--oh yeah!--all the professors, some lucky Minyan will carry home a huge smile!
- Note the SOX (at the 200-day) and the NDX ('04 highs) didn't mount their respective humps.
- What a shmuck!
- It was nice to see Bill Meehan's name on Minyanville. Now he's in our library AND in our hearts.
- And look at the time....
- Have a peaceful night!
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