Hump Day Randoms
My jewelry collection is taking a big hit this morning!
- "Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish." -- John Quincy Adams
- The notion of "compression" is applicable on a number of levels. The dynamic is obvious in the tape, as evidenced by compacted volatility and lopsided sentiment, but it is also evident with regard to market participants, as more and more traders grow weary and frustrated.
- Causation? The ursine elements that have been the cause de ursine celebre were tame yesterday as equities took it on the chin.
- Who yoo Daddy? Who yoo Daddy?
- According to CFTC's weekly Traders' Commitments Report, large speculators and small traders are net long the equivalent of 113,000 S&P 500 contracts (including E-Mini) - worth $33 billion. Last week's reading of 116,000 was the highest I've seen since 107,000 contracts on 2/28/01.
- I'm a Mog--half man, half dog. I'm my own best friend!
- The metals are gettin' MC hammered as the dollar sprints higher (DXY +1.45%). The yellow metal is off $15 while silver is taking a 10% haircut. Gold $430 remains the first support.
- Mission accomplished, Godfather Mitch!
- The price of tenacity and the cost of a dream is often a loss of balance and lack of perspective. Taking a step back and a deep breath isn't just a good idea, it's vital to the sustainability of your quest.
- The piggies are approaching important support at BKX 100.
- How about the job that Collins is doing?
- Hey buddy, my pit bull has a cavity!
- "Yet few Americans realize the extent to which their own government has sold out American sovereignty by borrowing money overseas. The consequences of a rapidly declining dollar are not yet obvious to the American public." - Congressman Ron Paul (R-Texas)
- We touched on an idea in yesterday's Buzz that may very well be reactive rationalization but is worthy of a mention. With the entire trading community conditioned to equate higher crude to lower stocks, could it be that lower crude is signaling concerns regarding the sustainability of an economic recovery? That concept holds some water when viewed in the context of a flattening yield curve.
- I'm not a violent guy but I wouldn't mind seeing the critters get medieval on this woman.
- People in straw houses shouldn't throw stones.
- Syracuse. Foul shots. Shocker.
- "But the real lesson from Sirius Satellite's (SIRI:NASD) binge is that content remains the real king of media." Wall Street Journal, December 8, 2004
- "So... Texan (TXN) takes up revs but only tighten earnings, citing an "ongoing inventory correction". Meaning, "We have too much stuff, we're takin' prices low, low, low to get rid of it. Margins will wait." No one seems confused by this yet when Intel (INTC) did the same thing last week it was seen as a demonstrable uptick in demand. Same news, different week (and more well-regarded company)." Macke on last night's Buzz.
- Heroes aren't the multimillion dollar sports figures who juice themselves or jack others. Rather, they'll be those who give of themselves to insure that their fellow humans are warm and fed in times of need.
- The new phone books are here! Investor's Intelligence reports that weekly sentiment skewed home prices in Matador City again. Bulls increased to 60.8 (from 57.3) and the bears dribbled to 21.70 (from 22.90).
- Dreams are only as real as those that believe in them.
- I'll take the Horse over conventional media every day and six times on Sunday. Still, the FT touches on a familiar topic.
- The Broadcom (BRCM:NASD) CFO was on Bloomberg radio last night and said business is generally quite healthy and end user demand is still pretty decent although he acknowledged that there is clearly an inventory correction underway.
- In my zest to launch the Minyanville holiday charity auction on Ruby's birthday, I failed to get the triple secret nod from our zesty programmers. I'm told that we'll be good to go and ready for show by this afternoon. My punishment will be watching a replay of the second half of last night's Syracuse came.
- "The OEX range for the year is plus or minus five percent. Not terribly impressive in a year where solid corporate earnings and unambiguous election results had analysts climbing various rooftops to shout about the impending bull run." -Professor Bernie Schaeffer
- Good luck today.
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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