Sugar and Spice
Good luck into the close!
Shake it up now, Sugaree
I'll meet you at the Jubilee
If that Jubilee don't come
Maybe I'll meet you on the run
The fashnizle continues to sizzle as the Minx wades her way through the afternoon muck. It was fairly quiet for the better part of the session but when the 2pm buy programs didn't show up, the bovine crowd decided to lighten up. Now, as a few dips have failed to hold, the bulls--many of whom got long for the breakout above S&P 1160--are counting on NDX 1450 to bail 'em out. Sgt. Snapper just sauntered by and said "I know deep down in places you don't talk about at parties, you need me at that level, you want me at that level!" Geez, it sure sounds like some folks can't handle the truth!
I'm not sure I can utter the words non-confirmation or negative divergence again without Hoofy getting pissed but they're there and they're real. And despite the slippage, complacency is still very much in vogue (check out the VIX) and the dip shtick, while bending, has yet to break. The bottom line is that until NDX 1450 (or S&P 1125) snaps, few will believe that they've stepped into traps (or that double tops are in place). I'm not sure if it's right here, right now, but this is prolly Boo's best chance to break the trance.
Taking a quick step back, gold (and silver) are flexing, the dollar is on its lows, rude crude is higher, the retailers continue to trade crowded, oil service is firm, the financials are starting to slip--watch this!--and the consumers are givin' some of their lovin' back. Circling back to the piggies, I'm not sure if the lethargy is F-troop or lawsuit related but they've held the tape together and Minx needs them now more than ever.
I trust that you've found today a bit better in the 'Ville and you've got my word that the super-server will be in place by the end of the week. Also, on a housekeeping note, please be on the lookout for information regarding the 2004 passport rates that will go into effect March 1st. As old school Minyans can attest, we pride ourselves on trying to do the right thing for our readership and that will always be the case. We launched in October 2002 as a free site and, as of February 2003, introductory passports were a paltry $10/month. Due to an increase in the cost of critter food and other related expenses, the new Minyanville passports will cost $17.95/month ($24.95 including Buzz & Banter) or $10/month for students with an .edu email. And, as promised, we'll continue to offer FREE content at the University of Minyanville and the Minyanville Elementary School.
It's important to note that NO Minyans will be automatically billed for the new passport rates--we felt that it would be unethical and inconsistent with the spirit of the community. As such, all expired annual users or current $10 monthlies will have to "opt in" to the new site (when the time comes) if they want to continue chillin' in the 'Ville. This will all be explained better in the coming days but I thought that it's only right that you hear it from me first. We're doing everything we can to make Minyanville as special as possible and I sincerely hope that you choose to remain in the 'hood.
Thanks kindly and good luck into the close.
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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