By Todd Harrison Mar 29, 2004 12:02 pm
Breadth....vs. looming resistance. And there ya have it!
- Earl Grey's mom must be so proud!
- This is last week's news...but I suppose it is fittingly delinquent!
- Cranberries are sorted for ripeness by bouncing them. A fully ripened cranberry can be dribbled like a basketball.
- My contacts tell me that the short base has been irradiated by this recent lift. In a separate story, Microsoft founder Harry Potter is in the internet "mini-bubble" camp.
- Consumer Confidence will hit the tape tomorrow (exp. 86).
- The "new" PPI will likely be muted now that they've removed the offending elements. That's like saying that I'd be thinner if I didn't account for the chocolate, pizza and ice cream I've eaten in the past!
- The name for Oz in the "Wizard of Oz" was thought up when the author, Frank Baum, looked at his filing cabinet and saw A-N, and O-Z, hence "Oz."
- Bank of America will kick off their retail fete tomorrow.
- NDX 1460ish is actually 'the' breakdown point but between the downtrend line (1440) and that level is a resistance zone.
- A big thanks to the Tabach-Banks!
- Last Tuesday on the Buzz (before I left), I offered that the "down" in the "down-up-down" was likely finished. We also talked about the potential for a "counter-trend" rally back to our resistance points. Well, we're pretty much there and I sense that Boo is gonna soon make some noise. As always, just my humble take.
- Clans of long ago that wanted to get rid of their unwanted people without killing them used to burn their houses down - hence the expression "to get fired."
- HEY HEY HEY, it's Waaaaaaaren Sapp.
- I pieced out my Microsoft calls today (MSFT:NASD) as 1) Resistance looms in the major averages, 2) part of my thesis was twisty stochastics (not alleviated) and 3) I sensed that the EU action wouldn't be as bad as anticipated. Regardless of what the stock does from here, it was the disciplined course of action. As always, I share this process with educational intents.
- Teeth has skin? Never got that one.
- Gartner the IT consultancy came out and adjusted down their growth estimates of PC and software as much of the growth was currency based (going from 8% to 2-5% and that latter range becomes the new growth target for this year). Muted!
- "I can't deny the possibility that the whole system might collapse. " -Alan Greenspan speaking in Berlin Jan 13, 2004
- While I "have" 50% of the Final Four (Georgia Tech and UCONN), Wake and Mississippi State came up short. Meanwhile, Fokker is leading the brackets heading into San Antonio. There's NO WAY he can lose!
- My grandfather always told me that all you have is your word and your name.
- When does the market, as a discounting mechanism, cast an eye towards the mountain of corporate debt due in '05 and '06 (I know...I'm VERY early on this one).
- Thanks Team Minyan on an all-around superb effort last week. One step at a time!
- Most folks I talk to are speaking of the correction as if it's long gone. That's a bit risky considering that we've simply traded back to resistance.
No positions in stocks mentioned.
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