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Random Thoughts

By

The techs continue to trace out some textbook dandruff despite today's jig.

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  • Hoofy popped into the Buzz this morning to offer the following vibes: "Please see the NYSE internals as they settle into a 2:1 posture. This, coupled with the traction in the financials (above BKX 106) and the leadership in the semis (SOX +2.5%) tilts the Hump Day critter compass towards Matador City." Thanks for the eyes, Hoofs, as we always wanna see both sides to every trade.

  • Note the jig in the XAU and energy patch as the CRB once again held the multiyear trendline (320). But keep a close eye on the commodities as both gold and silver took a midday dip into Red Dye.

  • All we need are some fava beans and a nice Chianti and we'll be all set!

  • The net space, despite the college try in Google, is laggy today. Yahoo!, eBay and Amazon (admittedly a retailer) aren't participating in the gigglefest. Nor are the retailers, for that matter, as the RTH (retail holders) sing pretty in pink (keep in mind that RTH 96 is double secret support).

  • Paradise Island? Not so much. Bird flu fears hit the western hemisphere as fifteen flamingos are found dead in the Bahamas. Is this SARS: part deux (read: much adieu about nuttin)? I'm not sure but I would rather Minyans know the flow so they can decide for themselves.

  • Shrinkage!

  • Hanson. He's so hot right now. Hanson. Minyanville would like to welcome its newest Professor, Dr. Tom Hanson. Tom's unique expertise lies in his ability to help traders achieve the proper perspective and emotional control needed to make more lucid and proactive investment decisions. Be sure to check out his first column, an exclusive interview with home run champ, Hank Aaron. And please join us in welcoming Dr. Tom to the Minyanville family!

  • The VXO (volatility index), after spurting 12% yesterday right to resistance (200-day), has exhaled 6% today as an eerie calm sets in.

  • It was a matter of time before the question was posed: What if the post-bubble "malaise" was a simple pause in a much grander bull market? It's hard to argue against that point with the trannies, financials, small caps (and numerous other indices) at or near all-time highs but, alas, I will. While I may be accused of reactive rationalization, I don't think we can have this conversation in a vacuum. Indeed, with the dollar down 25% since 2002 and debt at historic highs, I would argue that we've simply shifted the bubbles to a less obvious arena. And to truly understand where we are, we must also appreciate how we got here.

  • Frank Costanza would be proud!

  • NDX 1700ish is the right shoulder blade of the four-letter dandruff.

  • "March has marked some important turns in the past. Of course, the most notable of recent years are March 2000 and March 2003. Running the numbers shows a generally positive bias from now until March expiry and somewhat negative bias from then until the end of month." Professor Jason Roney on today's Buzz.

  • Do peanut M&M's count?

  • Are you a proud Minyan?

  • Has anyone ever seen Peter Boyle and John Snow in the same room at the same time?


    R.P.
Position in financials

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 todd@minyanville.com.

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.

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