By Todd Harrison Feb 20, 2004 12:48 pm
Nobody likes bad breadth!
- Sometimes you just gotta say "What the Fokker" and make your move.
- John Roque, Natexis Bleichroeder's most excellent technician, points out in his morning missive that his 55-day net advancing stocks indicator is at its lowest level since April 4, 2003. In other words, fewer and fewer stocks have been leading the tech advance over the last few months (peaked on October 21, 2003) and this gauge officially "broke down" yesterday. While past performance is no guarantee of future results (and nothing in Minyanville is intended as advice), it's worth noting that the last seven times this happened (since March '99) led to corrective phases.
- China gulping oil.
- Minyanville's Gallery of the Arts would never fall for something like this!
- What if your eyes really were bigger than your stomach?
- The consumer over cyclical trade is picking up again. Flight to safety and the beginning of relative risk aversion? Look at the charts of Budweiser (BUD:NYSE) and Safeway (SWY:NYSE).
- Sir Walter Scott described how a hostess would serve hot meat to a welcome guest and a cold shoulder of mutton to an unwelcome guest. Hence the phrase "to give someone the cold shoulder."
- KNEEL...KNEEL BEFORE ZOD!!!
- The entire street is staring at Intel's (INTC:NASD) chart and the all-important 30 level.
- It was all down hill for Kathleen Turner after Romancing the Stone.
- Fokker vs Pee Wee from Porky's in a charity boxing match for the RP Foundation. Daisy will be the ring card girl.
- Brazil is moving around more than my belly. Was down 4%, now flat.
- Is this FINALLY the start of the denial phase of the denial-migration-panic market psychology trifecta? Quite possibly. Why might this time be different from all the other dip and rips? The bevy of non-confirmations and negative divergences, I suppose, along with the historically high bullishness.
- When did Ben Affleck decide to be the voice of the Red Sox Nation and criticize A Rod...I mean the guy did a movie called Paycheck.
- From Minyan Mark Tobias regarding yesterday's A.D.D Randoms: My theory is that our brains operate in hyper-drive. Some people's are going so fast they end up with mental problems. I think of it like a Pyramid. At the very top are people with real mental disorders. Somewhere in the top 20% is A.D.D. At the bottom are the rest of the dull creatures who wouldn't even have made it out of the caves if some A.D.D. guy hadn't said, "I gotta get out of here and get me some action." I emailed Mark to thank him for responding but he had no idea what I was talking about.
- Daisy just walked into the office with her hair pulled back and wearing overalls covered in paint. Talk about sexy! Hey Fokker, I don't think you should stand up right now...
- The key to trading longevity? Don't let yourself feel too good when you win and don't beat yourself up so bad when you lose. Smooth the process and toss the ball back on the mound the same way after each session.
- There's something wrong with me that I get this excited for lunch each day.
- An open chat between Succo, Reynolds, Fleck, Reamer, Harrison, Brodsky, Goepfert, Tuttle, Roney, McGuirk and Fokker? Yesiree, Bob, and you'll be able to read it in the Gazette, an updating IM window or, if you want, minimize it on your desktop tool bar (it'll flash when new content posts).
- Gold is down THIRTEEN and the dollar is ripping. The greenback feels like it's got some legs to this rally--it does--but BIG picture, it's got serious problems. Of course, that's simply my humble opinion.
- Take a good, hard look at Minyanville because as of 5pm tonight, you'll never see it again. When you come back Monday, be prepared---it's that insane! Speaking of which, Team Minyan needs to do some serious lifting between now and then so why I'll try and get more posts out, understand that the site we lock on at 5 is not the site you'll awake to Monday. Thanks!
- John Lithgow was awesome in The World According to Garp.
- Professor McGuirk is sick as a pup down under--he musta tossed some bad shrimp on the barbie! He asked me to relay that and tell you that he'll be rarin' to go for the re-launch!
- Uh-oh, I think the new kid is a loud chewer.
- Energy issues, the internets, Microsoft (MSFT:NASD) and retail trade relatively dry. The breadth remains horrible. While expiration tosses a wrench into the mechanism, I would venture to say that IF the internals don't improve (soon), the Minx will have a hard time dancing with Snapper.
- Jackson Reamer is a heckuva cute kid--I've got his picture up right here between the critters. When I get stressed out, he reminds me of what is important in life.
- The next time somebody is rude to you, be really, really nice back. It just pisses 'em off more.
- Well I used to love her, but it's all over now.
position in qqq
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