By Todd Harrison Mar 05, 2003 12:27 pm
This is my kind of tape!
- Congratulations to Jerry Rice and Tim Brown for signing contracts through their 78th birthday.
- Today's tape, thus far, is a textbook "do less" environment.
- When's the last time you cleaned your belly button?
- According to point & figure, FNM will break five bottoms at 61 (if and when).
- My best friend (and college roommate) Fish just pinged me to ask if I had an interest in going to the Big East tournament with him. Hmm, let's see--Syracuse hoops...with my best friend...at the Garden. Ya think?
- Breadth is still negative.
- Tomorrow's a big semiconductor day--NSM earnings mid-session and Intel's mid-quarter update after the close. It's also retail sales day for all you shoppers.
- Clarence Beeks wanted me to tell you that tomorrow is Non-farm productivity (exp. .4%), Jobless claims (exp. 404k) and Factory Orders (exp. 1.9%). Friday we'll get the Unemployment Rate (exp. 5.5%), Non-farm payrolls (exp. 10k), Manufacturing Payrolls (exp.-30k) and Average Weekly Hours (exp. 34.2).
- I'd like to welcome the new University students to Minyanville--please feel free to tell your local investment club about our humble little town!
- Trading not to lose is the quickest way to lose money.
- Market flat and the VIX is down 3%. Complacency or a function of the trading range?
- There is a huge difference between hope and faith.
- The highest point in Pennsylvania is lower than the lowest point in Colorado.
- I continue to see call buying in tech which I view as bearish (contrarian). It's not as obscene as it was last week but it's stealthily going on.
- The tug-o-war in the dollar is amazing.
- Remember Lee Mazzilli's ally-oop?
- The military is starting to pay more attention to North Korea--keep this on your radar.
- Always respect the price action but never defer to it.
- Do you think Art Garfunkel has any subconscious resentment of Paul Simon?
- After an initial rally (sell-off) is faded on the opening, traders like to use that high (low) as an intraday stop level.
- Software continues to act heavy.
- The definition of an investment should never be a trade that's moved against you.
- I still think we get the Sham higher (stiff lift) but I can't shake the sense that we've got to take out the October lows first. Too scripted? Perhaps--that's why I'm trading so tight.
- Hey Fokker--you're doing a great job. Now get back to work!
position in fnm, smh
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