Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Pong!

By

Watch the banks, Minyans, as they'll continue to tell the tale.

PrintPRINT


No I'll stand my ground, won't be turned around
And I'll keep this world from draggin me down
Gonna stand my ground
And I won't back down


(Tom Petty)

The afternoon fray has started to stray as Snapper emerged for a late day soiree. We've been talking about the Minxy inputs over on the Buzz--the financials (leading) and NDX (on support) were Hoofy's heroes while the breadth (improved) and semis (still heavy) were Boo's bandits. As it stands (and we're moving a bit quicker now), the bears lost one of their legs (internals) while getting kicked with the other (banks).

Professor Goepfert chimed in (around 1:45) to note the unusually high TICK count (bearish). These readings, much like my short-term stochastics, are short term trading tools and must be kept in context. Jason makes a salient point--the last time he got a redline reading was February 24th (10:30am), February 11th (11:15) and February 2nd (12:45)--but before you apply technical tools to your process, define a time horizon. Different strokes for different folks, my friends, so find your stride.

The trading radar is fairly quiet overnight (the phantom PPI notwithstanding) and the critters are already eyeing Intel (INTC:NASD) as "the" catalyst. I told them, as I'll tell you, that it's "a" catalyst and just another piece of the puzzle. More often than not, when things are this anticipated, they turn out to be non-events. I'm not involved in the name (I'm hearing that it'll be "there") but in my view, the juicier report is on Friday (payrolls).

I was discussing this juncture with Professor Fleckmo (his rap will appear in the 'Ville tonight) and we were musing about the "trap door potential" that exists. While the financials (and corporate spreads) are tellin ya that the liquidity spigot still has legs, the VIX, (all-time high) sentiment and widespread dip shtick paves the way for a can of whoop ass when the time comes. Won't matter 'till it does, Minyans, my point is simply to point out the increased risk of an outsized move.

That's about it from my perch, for now, so flip lids and tickle ticks. The Greg(s) and I were psyched to see the interest in Minyan "Ambassadorships" and we'll be getting back to you all shortly. Hey, if you can earn while ya learn--and there's money to be made here--it's all the better for everyone involved. We've said it from day one--our readers are what makes us unique from any other community out there. It's evident through Ruby, it's evident through Joel and it's evident through the discourse we maintain daily. For that, I offer a humble thanks and look forward to our next collective step.

Good luck into the close.

R.P.
position in qqq
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE