This is my kinda tape!
- While I admit feeling a bit of angst after Syracuse let a 21 point lead dwindle to five against a tough UCONN squad, I am miffed that the Orange got a #4 seed while the Huskies took a #2. Iâm hopeful that the boyz use it as motivation as they embark on a tough road to St. Louie.
- Did anyone notice that the Sunday New York Times Business section was awash in stories about Enron, WorldCom and El Paso Corp? My sense is that weâll see a LOT more of that when the markets trade lower and investors are reminded that risk is a two-sided equation.
- The OSX, after creepin' and peepin', has just flipped the upside switch.
- âFinancial services represent more than 22% of the S&P 500 on a cap weighted basis. Since thereâs been no net relative progress since the summer of 2002, we feel confident saying that the sector is going through a topping or distributive phase. This belies our vociferous claim made across the land that the financials are âcheap.â This claim might be so, but itâs our take that financials will get cheaper.â Uber-Minyan John Roque.
- The dollar is testing resistance at DXY 82 just as the XAU is probing support at XAU 100.
- The HHH (internet index) just triggered a âkiss of deathâ (50-day crossing through the 200-day to the downside).
- My sense is that we see some downside probage today and the longer it takes to arrive, the more likely it is to stick.
- If you would like to participate in the Minyan March Madness Brackets, please click here. The password is "minyans" and those who don't win will have the option (but not the obligation) to make a donation of their choice to the Ruby Peck Foundation for Children's Education.
- Snaps to Minyan Herb Greenberg of MarketWatch for being in the AutoZone (AZO) zone.
- Still pissed about hockey, eh?
- âA country that is now aspiring to an âownership societyâ will not find happiness inâand Iâll use hyperbole here for emphasisâa âsharecroppers society.â Warren Buffett, in his annual report, on the danger of Americans becoming overly indebted to foreigners.
- I said a boom boom boom, lemme hear ya say heyo, HEYO!
- Call me a tree hugger but I was disgusted by how they treated the animals when I took my niece and nephew to the circus yesterday. As we were leaving the arena, Hoofy turned to me and said âIâd like to see that guy put his head inside of MY mouth!â
- Anecdotal evidence that the Minyanville Schnitzelâour foray into branded currencyâcould actually find some legs!
- DeVibe from Lehman's aptly named chartist Jeff DeGraaf: "With NASDAQâs failure to break out and the SPXâs violation of the (acne) pivot point, the bull trap scenario may be playing out. However, trends remain bullish and will not deteriorate until 1164, implying more distribution is likely to emerge before sustainable deterioration is likely (i.e. more grind)."
- Note the action in Google (GOOG) since it broke support at $181.
- âWe have talked about the corner the Fed and Japan are painting themselves into. With central banks coordinating purchases of treasuries, they have driven interest rates artificially lower to "reflate" asset prices. But this has led to much higher commodity prices (can anyone say inflation?) and debt, while economic growth outside the U.S. is anemic (can anyone say stagflation?). Now the dollar cannot seem to rally even with higher short term rates and higher U.S. growth. There are rumors among FX traders that the Fed (forced by the market) will have to raise short term rates more than expected. Stay tuned.â John Succo on todayâs Buzz.
- Uncle Buck must be psyched!
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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