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Random Thoughts


Some people make things happen, others watch them happen and others turn around and say "What happened?"

  • Ninety years ago today, in the Bronx , Ruby Peck was born. Those who knew him continue to celebrate his life through doing the right thing, thinking positive and staying true to their name and their word. Last Friday, we took a giant step forward in spreading that word and furthering our mission of aspiring to inspire. Rest in peace, Grandpa, and thank you.

  • "I'm digging the double bottom action on Walgreens (WAG). The chain's November comps were solid, as well. If I still lived in Cali , where there's a Walgreens every two blocks or so, they'd have December in the bag after I load up on over the counter cold-meds. As is, be careful shorting CVS... I hear they're having a big December." Television's JeffMacke® on this morning's Buzz.

  • December Expiration? Already? Due to the fact that December 1st was a Friday, the last put funeral of the year will arrive with two full weeks left in '07. Structurally, there is large open interest at S&P 1400 and S&P 1425 so those will likely serve as the magnets to the madness.

  • Some people make things happen, others watch them happen and others turn around and say "What happened?"

  • A gorilla bought 15,000 S&P January 1400 puts while I was in the meeting. What did Eddie Murphy used to say? "Hey, wasn't me!"

  • Keep in mind that S&P 1400 might 'matter' more (as a support) than S&P 1407 into December expiration.

  • Breadth is flattish and the brokers are holding a bid. Until they fail, the tape will bend rather than break (keep close tabs on Goldman-it's the fly in the upside ointment today).

  • Minyans are welcome to join the MVHQ crew tonight at The Red Lion as we support our Boy Blue and his Rolling Bones Band.

  • HGX 250 remains resistance while HGX 225 (200-day) is the first discernible support (note the twisty overbought stochastics as well).

  • "The HUI is now up half a percent with gold down $3. A positive divergence of this sort typically (but not always) precedes a rally in the metal. Thus, the odds suggest that both the metal and the shares could be set to rally off of tomorrow's jobs data." Lance Lewis on today's Buzz (position in metals)

  • Minyan Mailbag

    Toddo- We have seen sell-offs where oil goes down, gold goes down, everything goes down and the dollar rallies (and vice-versa). Is it possible that everything can go down, and the dollar doesn't rally?

    Minyan Jim

    Absolutely. I've long said that asset classes (as a whole) and the dollar cannot rally in synch for a sustained period but they can certainly trade lower together. I don't know when, how or 'why' but my sense is that it would be a "debasement event" (crude denominated in Euros, for example) or a crisis in confidence.

    Again, this is simply my opinion and I've learned that when it comes to hypothesizing about the market, there is a defined interpretation of a pertinent reality. It's called profit and loss.

    With that said, I continue to manage my risk while many others chase reward. I won't make as much on the up, up and away's but I'll sleep better knowing that my future isn't entirely tied to other people's perception.


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Position in financials, metals

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

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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