By Todd Harrison Mar 03, 2003 12:19 pm
I've heard of duck season and wabbit season...but preannouncment season?
- I've got a 10-day chart of the S&P up and there's a defined trendline in place starting at last Monday's lows. Since then, we've had a steady series of higher lows and higher highs (bullish). I'm watching this like a hawk for signs of a lower high or lower low.
- Add the retailers to the list of groups not acting up to snuff.
- Mea Culpa--it was Bugs who spoke lovingly of George (not Woody).
- Tony tells me that SMH 23.25 is a big level on the 60 minute chart--it's where they "need" to hold (if they're going to).
- Why don't cannibals eat clowns? Because they taste funny!
- The banks continue to hang tough but the brokers are beginning to show signs of stress. Watch GS.
- I haven't heard hide nor hair out of Morgan's conference yet.
- The oldest rocks collected on the Moon during the Apollo program were approximately 4.4 billion years old.
- Patience will provide opportunities if you're lucid and don't press.
- Someone just bought 10,000 more QQQ March 27 calls and this continues the trend of size upsides being bought. I think that's bearish (contrarian).
- China is the largest producer of tomatoes in the world, producing over 16% of all tomatoes.
- The dollar is grinding marginally lower. Watch the greenback!
- If you break your year down into months and then break those months down to weeks, the specter of performance isn't as daunting. Baby steps, Mon Frere, and one at a time.
- Traders are focused on this XLNX meeting tomorrow.
- When I discuss "cheap downside paper out to April," I'm referring to April puts that have a low implied volatility (relative to historical volatility). In other words, with vols "cheapening" (see VIX), the premium on options is inexpensive versus where they were.
- Opportunities are made up easier than losses.
- Dart-boards are made out of horsehair.
- I simply don't see the bears out there and the cautious folks I speak are more cash than short. That smells of "hope" and while it may not be today's business, it's historically a red flag.
- AIG continues to act heavy.
- I'm not a "big" drinker, per se, but I've officially put myself on the wagon for a month (I started last week). I do this once every six months or so to clean out the pipes. I always feel fantastic when I'm done and then wonder why I drink in the first place--until, of course, I have a drink.
- A good trader isn't measured by the amount of tickets stamped each day.
- The number "four" is the only digit that has the same number of letters as its value.
- The NYSE breath holds it's own.
- We're gonna do a charity event tied to the Oscars--I'd tell you more but Casey will likely smack me if I spill the beans.
- We got alotta snaps on the Minyanville fleeces yesterday. Support your local Minyan and wear 'em proud!
- Earl Anthony eat your heart out!
position in s&p, aig, smh
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