By Todd Harrison Feb 08, 2005 3:18 pm
May peace be with you!
"Yeah, man just kinda... you know, you got these claws and you're staring at these claws and you're thinking to yourself, and with these claws you're thinking, "How am I supposed to kill this bunny, how am I supposed to kill this bunny?"
-Trent Walker, Swingers
Turnaround Tuesday edges along as Sir Chambo awaits for those who stand long. While Minyan Michael Santoli makes a salient point regarding the relative influence of the networking giant, fund managers certainly have this bogie circled on their catalyst calendar. I don't have a relative edge, so to speak, but would wager a PBR that management puts on a happy face. How that's perceived by the investment community in general--and tech in particular--will color tomorrow's opening action.
There was considerable chatter today that asset alligators were shifting money out of equities and into bonds. Leaving the mere fact that folks are looking to "capture" a 4.4% yield alone for a minute, that helps explain the monolithic movements we've been seeing. To add flava to the minxy mix, the dollar faded (from its earlier jig) and allowed gold to hold near the all-important 200-day moving average. I still think that all major asset classes touch that technical benchmark this year and yes, my friends, that includes equities.
Be that as it may--and it may be wrong--Hoofy still has the baton as we ready ourselves for this week's hump. With S&P 1196 (BKX 102) providing a tight backdrop, he is willing to bet that the thumbs up from the corporates will bode well for his swell. He might be right (the action in the brokers is screaming "M&A!") but volatility levels are leaving precious little margin for error. If and when that "offsides" finally flags, it'll make the January freak seem somewhat meek.
On the housekeeping front, we're in the midst of some major shifts behind the scenes and that'll manifest in a number of ways. I believe that you'll find the content proposition more robust, the features a bit friendlier and the applications far reaching. Its been a long road for these critters and they're almost--almost--at the starting gate. Why do I share the evolution of the 'Ville? Because we're all in this together and a dream is only as powerful as those who believe in it. And for that, I genuinely thank you.
Fare ye well into the bell.
No positions in stocks mentioned.
Get The Minyanville
Daily Recap Newsletter
Daily Recap Newsletter