By Todd Harrison Dec 09, 2004 11:53 am
If the internals don't snap back soon, I am gonna be soup divin'!
- Does your dog bite? (Zat iz not my dawg!)
- "Be ready when opportunity comes. Luck is the time when preparation and opportunity meet." -- Roy D. Chapin, Jr.
- "A great power does not debase its currency - a currency around which most global commerce revolves. It does not take its hand off the tiller, as if the market bears all responsibility for global financial stability. To fix the problems that underlie huge trade imbalances, it uses statesmanship - at home and abroad." - Jeffrey E. Garten, Dean of the Yale School of Management
- Critter therapy?
- The semis (-4%) are the black eye of today's tape as they lead the S's over N's action. As it stands, the all-important financials (BKX and XBD) have bent but not broken.
- Did you know you can change the size of the Minyan font (bottom of page).
- May I go to the bathroom. (long pause) Thank you! (Ruprecht)
- Vibes from Uber-Minyan John "if it ain't" Roque (don't fix it) of Natexis Bleichroeder: "On November 22, I offered "What if we already got the year-end rally?" The market action over the last few days has made me more comfortable with this idea. Ergo, NYSE downside volume on Tuesday was 82% of total volume. This figure is the highest percentage of downside volume since 9/22/04. At that time, the S&P held its 50-day, rallied for a few days and then corrected again to a lower low into late October."
- Pepe Depew alerts us that INDU 10,425 broke a triple bottom and BKX 100.50 is an important level for the BKX. He dabbles, of course, in point & figure land.
- Look into the crystal fall.
- Crude up a deuce (2%) and front-month futes are back over the 200-day.
- Caffeine high!
- See that JP Morgan (JPM:NYSE) dandruff on the two-year chart?
- Gold is down another finski ($5) and white frightenin' is off 3.5%. Is this the sharp, hard pullback that metal bulls have been waiting for? Two thoughts: 1) $430 is an important support for gold and a dribble through there will plant a more ominous seed. 2) As I've written before, I think deflation has a one in four (25%) shot of emerging (via China or Elmer restraint) and that has obvious implications for ALL asset classes (particularly the metals).
- We found Beeks!
- Note to self: Keeping brownies in the kitchen can be hazardous to my nocturnal health.
- Roger, Rogers!
- The Festivus auction is officially live! If you would like to join Scott Reamer, John Succo, Greg Collins, Jeff Macke, Rich Gula, Snoop Tone, Phil Erlanger, Michael Santoli, Greg Weldon, Bernie Schaeffer, Fokker Kahn (and a few select others) for an intimate gathering of Minyanville's finest, here's your shot! The fete will take place in New York City on December 22nd and proceeds will benefit The Ruby Peck Foundation for Children's Education.
- "We are in very uncertain times," said Robert Shiller, a Yale economist who studies economic bubbles. "Some of the adjustables (mortgages) people got in a couple years ago are already losing their interest-rate protections."
- Bar Brawl!
- Ilker Yilmaz, 28, of Istanbul, inspired to bring pride to Turkey by achieving a Guinness Book world record, decided to challenge Canadian Mark Moraal's 8.7-foot mark for squirting milk out of his eye. In October, exploiting what he called an anomaly in his tear gland, he sucked milk up his nose and shot it 9.223 feet out of an eye socket in front of several witnesses and is now awaiting official recognition. (Associated Press)
- There are just so many ways I can go with this random...
- Point...and then go figure! BKX 100.50 is key level on .5x3 PnF chart. IF (big if) we tick there, it would be its first sell signal since the October triple bottom. SOX gave sell signal this morning, first since Sep. and 415 would violate uptrend line from Sep. lows. Neither is advice, Minyans, just pieces of the puzzle.
- Fed comfort....in the fall of 2000.
- The market never crashed in 1929, the Yankees never won a world series and I really AM thin!
- Four University of Memphis basketball players, who share an apartment on campus, reported a break-in, with items missing including $6,000 worth of shoes, $4,000 of custom-made shirts, $6,000 of trousers and $40,000 of mink coats. (WPTY-TV - Memphis)
- Dungeons and Dragons.
- In October, with the homeowner away on vacation, Beverly Valentine, 54, broke into a house in Douglasville, GA., and made herself right at home. She began wearing owner Beverly Mitchell's clothes, had the utilities changed to her name, ripped out carpeting, had a new washer and dryer installed, and painting a room, among other changes. When Mitchell returned after 17 days in Greece, she was surprised to find that her key wouldn't work. Valentine has not yet explained, but a former neighbor said she has had some "problems." (Atlanta Journal-Constitution)
No positions in stocks mentioned.
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