By Todd Harrison Mar 30, 2005 11:50 am
This Snapper better stick around or there's gonna be alotta towel tossing!
- What if bowties made a pop culture revival? I mean, what if they were REALLY "in?"
- Gator Aid?
- "It has become increasingly difficult to deny that something profoundly different from the typical postwar business cycle has emerged in recent years. Not only has the expansion reached record length, but it has done so with far stronger- than-expected economic growth. The process of capital reallocation across the economy has been assisted by a significant unbundling of risks in capital markets made possible by the development of innovative financial products. There are few, if any, indications in the marketplace that the reallocation process, pushed forward by financial markets, is slowing." - Alan Greenspan, April 5, 2000, "The White House Council on the New Economy," 20 days after the NASDAQ peaked at 5,048 before crashing 80%
- "A number of analysts have conjectured that the extended period of low interest rates is spawning a bubble in housing prices in the United States that will, at some point, implode. But a destabilizing contraction in nationwide house prices does not seem the most probable outcome. And even should more-than-average price weakness occur, the increase in home equity as a consequence of the recent sharp rise in prices should buffer the vast majority of homeowners." - Alan Greenspan, March 10, 2005, Council on Foreign Relations
- "The difference between fiction and reality? Fiction has to make sense." - Tom Clancy
- "The SPX has tested support and with it our patience. The 10-day TRIN readings (internal oversold) is far from suggesting a mean-reverting trade, though external readings are supportive. Because of trend, we are believers that this is not THE leg down, but likely to lead to further distribution. On the topic of trend, our breakdown system did deteriorate Tuesday, with 4 out of 5 trend indicators now positive. That's still a bullish reading, but enough time spent under 1200 will lead to further deteriorating. We remain in the bounce camp, believing in the 3:1 expectancy, though we are admittedly close to being stopped out of that call." -- Lehman technician Jeff DeGraaf
- Was Paula Abdul actually caught in a hit and run?
- Turtle Soup!
- Despite the minxy jig, the tape is running straight towards resistance at XBD 144, SOX 420, S&P 1180 and NDX 1482. The stochastics (oversold) and breadth (2:1) are supportive of more upside pressure but it's been a long time since I've seen so many folks looking to employ the dip shtick. For psychology's sake, these screens better end green!
- I had the strangest dream about Loretta Lynn last night...which is odd because I've never seen her and can't name one of her songs.
- The new phone books are here! The new phone books are here!
- Taxi Driver!
- Slower growth and tighter money? Sounds like a recipe for Stagflation to me.
- Morgan (MWD), Citi (C), Fannie (FNM), American In'tl Group (AIG)...this smoke will smell familiar to old school Minyans who've been in the 'Ville for a while (yes, I'm notoriously early).
- Tough week for the Terps.
- The latest Investor's Intelligence poll finds the bulls declining to 51.6% from 53.6%, while the Red Dye crowd grew to 28% from 27.8%.
- It's in the hole!
- I've had my fair share of Morgan Stanley war stories over the years. My first interview in '91 was with John Havens and, over time, I worked for Vikram and with Guru. I left Mother Morgan in '97 for a few reasons: a fresh opportunity on the buy side, a belief that the sell-side was a dead-end game (always honest) and, in particular, because I found the inner workings at Mother Morgan to be entirely too political for my taste.
- Talk about a Sugar Daddy!
- As long as China doesn't outlaw virtual critters, Daisy's dream of global media saturation will remain intact.
No positions in stocks mentioned.
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