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Random Thoughts

By

Keep a close eye on the tape...

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  • Citi $48 is back in the front and center headlights.

  • "At 4.96%, the 10 Year Treasury Yield is above its 24-year downward sloping trendline, it's above its upward sloping 10 and 40 week moving averages, it's above its flattening 50-month moving average, and our weekly and monthly momentum indicators are accelerating upward. We're sticking with our 6% target." Uber-Minyan (and MIM3 panelist) John Roque of Natexis Bleichroeder

  • S's over N's (financials over semis) as we edge into the first of our four session set.

  • I'm keeping a close eye on SunMicro as it dips a dime on chatter that their revenues will be light. As this isn't an "earnings play" for me, I'm gonna add some more long side exposure if and when the stock ebbs towards $5 again. So you know...

  • The Utes (what's a Ute?) are trying to find some footing near the November lows.

  • Is that is a double top in the NDX?

  • That must be some kinda lucky foot!

  • I penned on the out-of-the-gate Buzz that I expected some testage after the sloppy slippiness on Freaky Friday. The quicker the probe lower arrives, the higher the probability that Hoofy has a better afternoon. The wildcard, of course, is the defense mechanism at S&P 1295. You just know that Hoofy is gonna try to defend that level and stave off psychology (and technical) shiftage.

  • Morgan Stanley technician Rick Bensignor is out with a note this morning saying that "the increase in monthly counter-trend sell signals based on DeMark indicators (which will be featured, again, during afternoon sessions at MIM3 with Mr. DeMark himself), along with historically important cycles which are being stretched, seems to indicate that reversals in the ongoing uptrend could be likely."

  • The stochastics in the HGX are about to register a sell signal. They're not snazzy timers, as we know, but it's worthy of a mention.

  • For all ye faithful asking for a Friday night Bobby set list, here it is: I: Truckin > Take Me to the River > Loser, Easy to Slip > Supplication Jam > Dark Star, Tuesday Blues > Scarlet Begonias > Iko Iko. II: Masterpiece>Candyman, Masters of War, Even So> October Queen> The Deep End> Lady with a Fan> Terrapin> Black Peter>St. Stephen> William Tell Bridge> The Eleven> Touch of Grey. E: At a Siding> Terrapin Flyer.

  • The standout action of the session? It's gotta be the continued jig in the metal complex as silver tacks on close to 3% and gold tickles $600 anew. Again, while I love 'em long-term, I've peeled out of my exposure to this group for the time being (and that 'time' may be wrong.)

  • Continued white light to our good friend, Minyan Gerry Vos.

  • Congrats, Mr. Mickelson, it's wins like this that make the hole you lost to President Fish a bit easier to stomach!

  • Nice catch--but I'm sure he's got a golden parachute in place.

  • The Bush Administration, while publicly advocating diplomacy in order to stop Iran from pursuing a nuclear weapon, has increased clandestine activities inside Iran and intensified planning for a possible major attack, the New Yorker reported in an article posted on its Web site this weekend.


  • R.P.
Positions in SUNW, C, financials

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 todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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