By Todd Harrison Mar 23, 2004 8:32 am
You should see me in a sun dress!
- Do you think John Denver sang about Colorado because of his name? What if his name was John Laramie?
- There's alotta noise surrounding Microsoft (MSFT:NASD) and the stochastics are so twisted that it would make McMurphy blush (bullish)...but it is worth noting that the 50-day moving average crossed the 200-day moving average (to the downside) and that's not historically bullish. In the interest of full disclosure, I am trading this name (and this isn't advice) but I wanted to share the process.
- I'm leaving on a jet plane...this afternoon. The critters are going Hollywood and I've been elected chaperone. Go figure.
- With the Trannies breaking three bottoms (and the 200-day moving average), Dow theorists can't be feeling too good about the future (sans a bounce).
- Mind the gaps! As a function of yesterday's fugly open, a (small) vacuum exists above S&P 1103 and NDX 1390.
- Just hop on the bus, Gus. Make a new plan, Stan. You don't need to be coy, Roy. Just listen to me.
- If you find that you're continually getting booted off the 'Ville, chances are that somebody is sharing your password. You can alleviate this issue by going into the "manage account" section (to the left) and changing it.
- The higher the opening, the less bullish it is for the day. Either way, I sense an up-down-up session.
- I miss Joel.
- What's the difference between pricing in valid risk premiums and being overly sensitive to geopolitical concerns? Simple--the color of your screen.
- NDX 1378--live it, learn it, love it, leave it. The 200-day moving average is the technical level du jour.
- Lotsa Buc fans are emailing me with Warren Sapp horror stories. Shocker!
- S&P 1100-1105 should be the first upside test. Look for good "buy stops" above.
- Snoop Tone lobbed in this factoid near yesterday's close: "Since 1962 (where our data begins), 75% of second year equity market recoveries begin with a significant correction. The average is a decline from the Q1 peak is 5.28% and can create a negative return for the year - before the next significant move higher. Despite the current "feel" of the market, as of this quick note, the S&P 500 (SPX) is now down 5.4% and hit the historical average Q1 correction today."
- Big technical levels--real or perceived--tend to hold on the first (or second...or third) try. We saw it at S&P 1160 (remember that?), we're seeing it at the NDX 200-day and we'll likely see it at DOW 10K.
- Minyans are suggesting that Professor Goepfert run a regression analysis of the Minxy behavior when I'm away from my turret. Saucy!
- Watch the internals today--particularly the upvolume/downvolume.
- Who be putting their Cools out on my floor? Who be putting their Cools out on my floor?
- As has been Buzzed, alotta strategists are using the geopolitical card as an "out." The truth is, Boo has been screaming for attention for quite a while but it didn't matter until stocks turned.
- The General Electric (GE:NYSE) top?
- I sent everyone on the diet bet a couple of bags of Minyanville chocolate chip cookies. Yeah, that's dirty pool.
- The more I hear "counter trend Tuesday," the less bullish I get on the margin.
- "I've got a prostate the size of a honeydew and a head full of bad memories." --Maury Ballstein
- Goldman (GS:NYSE) just vaporized their numbers. These are tricky traders on earnings (remember Lehman (LEH:NYSE)?) but its worth noting that the field position is different than it was a few weeks ago.
- Prayers to our Mid-East Minyans.
position in msft
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