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.
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.
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