More Random Thoughts
By Todd Harrison Apr 15, 2003 3:33 pm
You know Boo, hope isn't a viable trading strategy on the short side either...
- Did anybody else get the impression that William McDonough, tapped today to chair the Public Company Accounting Oversight Board, sounded defensive?
- I'm seeing big-time short-covering in the brokers.
- The VXN (Nasdaq vol) is at the same level that it was last March. And we know what happened last March.
- I'm having a rather lengthy discussion with myself regarding the timing of the trade lower -- and wondering aloud if the market "needs" to trade higher before it trades lower.
- In that vein, is the unknown of Microsoft (MSFT:Nasdaq) and Intel (INTC:Nasdaq) "holding down" the broader tape?
- A trading account has accumulated over 7000 June 880 puts today as a hedge.
- I'm sorry A.J. -- did you say something?
- Expectations for Intel capex are $3.5 billion to $3.9 billion.
- If you're short, one strategy might be to buy some cheapie April front months in MSFT or INTC (the names that can lead the tape higher). I haven't done it, but I wanted to share the thought.
- There are a lot of bears in bull's clothing out there.
- I think I'm gonna enter tonight's earnings with 1000 QQQ April 26 puts and 25,000 QQQ (ratio). If either report is an outlier (either way), I'll either go "one up" (buy another 75,000 QQQ which would give me the same risk profile as an April 26 call) or kick the underlying and ride the cheapies.
- Boo needs to feel silly before feasting. He feels silly... but does he feel silly enough?
- When the University of Minyanville opens, I'm gonna ask the professor to discuss the concept of theta (option premium decay).
- Yes, the stochastics and VIX could be two of those historical metrics I referenced in the last post. Do I think they are? No... but some people obviously do.
- With yesterday's lift, Hoofy snatched the "path of least resistance" baton back from Boo.
- NDX up 100 tomorrow, NDX down 100 tomorrow. Are you happy with your risk profile?
- Texas Instruments (TXN:NYSE), Teradyne (TER:NYSE), Motorola (MOT:NYSE), Linear Technology (LLTC:Nasdaq) and Allstate (ALL:NYSE) are among those reporting tonight
- Why can't I shake the feeling that the debt and derivative structure in our financial system is a giant Ponzi scheme? It doesn't matter now (it works until it doesn't) but it's on my mind -- and now it's on your screen!
- Our student readership is growing rapidly and that's always been a mission of Minyanville. Please continue to help us spread the word to the educational community -- every little bit helps.
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