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Buzz Bits: Dow Nasdaq Climb Higher


Your daily Buzz & Banter highlights...


Editor's Note: This is a small sample of the content available on the Buzz and Banter.

Earnings Report - MV News

  • Amazon (AMZN) reports 4Q EPS of $0.23 vs. $0.21 con on revs of $3.99 bln vs. $3.78 bln cons.
  • Electronic Arts (ERTS) reports 3Q EPS of $0.63 vs. $0.57 cons on revs of $1.28 bln vs. $1.27 bln cons.
  • CA Inc. (CA) reports 3Q EPS of $0.24 vs. $0.21 cons on revs of $1.0 bln vs. $987.39 mln cons.

Bell Buzz - Todd Harrison - 3:30 PM

  • Check out the trannies! No, not like that Farley (ewww!)--I'm talking about the transportation index. This sector is tickling all-time acne and, if broken, would be another technical crutch for the Matador Crowd.

  • Keep in mind that technicals are but one of our four primary metrics (fundies, structural, psychology). With so many folks following the charts, I'm left to wonder if we need the technicians to sound the "all-clear" before a meaningful correction can take place.

  • It's not your fault, it's not your fault! I speak to alotta fund managers and while many are making money, most are feeling frustrated by the tape. That's leading to alotta "reward chasing" behavior which typically comes at the expense of risk management. Play your game, Minyans, and don't get caught trying to keep up with the Dow Joneses.

  • It's not a popular thought but I'll again remind Minyans that there's a big difference between a legitimate economic expansion and a debt induced largess. And I can think of 870,756,106,369,712 reasons why this is so.

  • Finally, we're busting hump behind the scenes as we continue to improve the Minyan experience. Please take a peek at MVTV and know that other community building endeavors are underway. It's exciting, for all the right reasons, and we wanna thank you for sharing your journey with us.

  • Fare ye well into the bell and have a fantastic evening rolling your bones!


Questions about gold and gold shares... - Lance Lewis - 10:13 AM

I want to address some questions about why the shares (defined by the HUI and other gold indices) have not returned to their December 2006 peaks like the metal has and whether this is a bearish indication or not? In general, I have found this to be true. When the shares don't lead the metal, it's often a danger sign. However, like all things, this is not a fool-proof indicator.

For example, have a look at this daily chart of gold and the HUI for the past year. In this case, the HUI appeared to be suggesting back in September that gold was going to catch-up and break out above its July peak like the HUI had already done. Unfortunately, at the end of the day, gold is the ultimate determinant of where the shares will trade, and when the metal sold off hard in early September, the shares played catch-up to the downside. So, in this case, even though the shares were leading the metal, it wasn't a bullish signal.

Could the same fake-out be occurring today, and this time will the shares play catch-up to the upside? That's my bet and for several reasons. First of all, large cap disappointments, like Newmont (NEM), have distorted most of the gold indices to the bearish side because of their outsized pull on them. Many of the juniors are obviously doing much better and making new highs.

Secondly, this "signal" has become widely publicized and followed since we began talking about it over six years ago. When too many people are watching the same thing, it ceases to be useful and becomes more confusing than anything.

Thirdly, sentiment on the shares (from what I can tell) is extremely cautious right now, which also partially explains why the shares have not taken out the December peak yet. As a friend of mine put it: "nobody believes the move in gold, but they will."

Thus, when gold does eventually break out (which it appears to be doing today) and trades back towards $700, many of the shares will likely have a monster catch-up move.

Position in gold shares

Monthly Fun Facts - Jason Roney - 9:35 AM

  • For the first time since 1996, the SP500 finished higher for the 8th consecutive month.

  • Even more impressive is the strength of the close. For the first time since 1995, the index finished above the prior month's high for the 6th time in a row.

  • And for the first time since March 2004, the SP500 has six higher highs and higher lows on the monthly chart.

  • Given the steady rise, it's no surprise there's been little drawdown from the prior month's close. In fact, the index has not seen a monthly drawdown of more than 5% from the prior month's close (low to prior month close) since July 2004 (the longest stretch since at least 1950).

  • And of course the Dow is the strongest of all. Not only has there been minimal drawdown on the monthly chart, the daily chart has not seen a 2.5% correction since the fall of 2006 (longest streak since the 1950s).

What you need to know... - Jon Doctor J Najarian - 8:19 AM

Michael Dell Back! Maybe the 41-year old entrepreneur figured three years off was enough. Maybe he figured his stock had languished since his departure and was in need of new energy, or that old DELL magic. Whatever the case, Michael Dell pushed aside his protégé Kevin Rollins and took back the title of CEO.

Google's (GOOG) Search-Ads Boost Revenue 67% - The search giant's net was up a whopping 177 percent, or $1.03 billion and revenue excluding marketing partners totaled $2.23 billion. Overseas operations accounted for 44 percent of GOOG's revenue.

Tokyo May Form Alliance With CME - Just a day after the Japanese exchange leader announced an agreement to cooperate with the NYSE, the Tokyo Stock Exchange says it is in talks about forming a possible alliance with the Chicago Mercantile Exchange.

Marsh & McLennan (MMC) Selling Putnam for $3.9 Billion – MMC is selling its Putnam Investments division to a unit of Montreal's Power Financial Corp., for $3.9 billion in cash, which as Yogi Bera said, spends just like money!

Positions in CME, MMC

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