Fare ye well!
- Those aren't pillows!
- Breadth has been beaten with an ugly stick all day---and that's despite the positive skew from the jiggy bond funds.
- S&P 1196 (former support) now becomes initial resistance. I generally like to give these levels wiggle room--particularly with everyone staring at the same charts. And yes, this is a very important close for the technicians in our midst.
- Chatter abounds that Apple (AAPL) is gonna take a swipe at Sirius (SIRI). Sounds to me like a hedgie was caught short and needed to cover. Yes, that does happen and it's not cool.
- That was a begrudging bounce by the metals (they're closed now) but they continue to cling to the 200-day support.
- Peanut butter jelly time!
- The VXO is up 7% but it's all relative--we're still 8% away from teenage status.
- Lotsa people will tell you what to do. Our goal is to teach you how to do it.
- Undercover cops?
- "Apropos of our real-time experiment yesterday with Cisco (CSCO), let's try another name in the news today. Specifically, Ericsson (ERICY). The name is up today 4%+ primarily on news from the sell-side that they expect earnings tomorrow to exceed expectations. Once again, I know nothing about what ERICY is going to say (meaning I have no fundamental edge) but I think the price of the security itself is telling us all we need to know about what the 'numbers' are going to be and how the Street will 'react' to them. In a word, bearish. A zigzag corrective bounce off the lows on the 25th 'points' to $31.10 - 31.15 or so where a trend reversal point may exist. If our analysis of the price action is correct then, prices should retreat to new swing lows beneath the 28.01 lows registered on the 25th. Once again, let's see if fundamentals follow stock prices, as our complexity theory of asset pricing predicts." Scotto Reamer on today's Buzz.
- Reuters is reporting that an SEC accountant said it could take, "months to a year" for a Fannie Mae (FNM) restatement. Settle back, Minyans, this could take a while.
- Teachers pet?!?
- Andy Xie writes about the property bubble in China
- I use the "less food looks like more when placed on a small plate" thesis when getting my haircut.
- The Google (GOOG) gigglers are getting close to losing their catalyst (analyst day/gap fillage). Further, there is a monster lock-up that frees up on Friday.
- 4% yield doesn't sound so bad to some investors right now.
- Macke. Bullseye. 6pm. A'ight?
- The Russell 2000 just peeked through the 50-day (to the downside).
- My better sales contacts are telling me that this entire week has been an Ickey Shuffle (rotation).
- The rest of my longer-term stochastics aren't as toppy as the S&P.
- My sense is that my time management skills will improve drastically by the end of the month. In the meantime, we appreciate the patience as we pave the way to a much broader Minyan experience.
- The purpose of the journey is the journey itself, Minyans--have a peaceful night.
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 firstname.lastname@example.org.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter