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Random Thoughts

By

We're thisclose to opening the floodgates!

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  • Maybe there is a football God? If Matt Leinart wears silver and black next year, the Black Hole won't seem so dark!

  • Riddle me this--if the market is a leading indicator and economics are a coincident indicator, how can the FOMC possibly be reactive in their policy approach?

  • A dose of perspective? The S&P is exactly where it was seven short sessions ago, lest you're feeling pangs of performance anxiety.

  • Please make sure to read Tom Peterson's Buzz from this morning, which discusses a potential "liquidity injection" Tuesday in the face of a looming hedge fund collapse.

  • As if blood, locust and boils weren't enough? A Los Angeles woman who was hospitalized April 13 has the city's first confirmed case of bubonic plague in more than 20 years, the Associated Press reported. The woman, who wasn't identified, had a fever and swollen lymph nodes and blood tests confirmed she had contracted the disease, that generally is spread from the bite of fleas infected by dead rodents, the AP said, citing county health officials.

  • "It always interests me to look at the long term chart of inflation in the United States since the Federal Reserve was created in 1913. Even more so when official CPI statistics come out as they just did. This chart, detailing the 95%+ decline in the value of the US dollar since the Fed was created, speaks volumes. And not in a good way." Scotto Reamer on today's Buzz

  • S&P 1295-1300 is the obvious and intuitive support zone.

  • Tick tock, MIM3, tick tock! We're thisclose to opening the floodgates!

  • I nibbled anew on some more piggy puts this morning. This particular tranche will have stop levels set above as I've already got some good gamma going in that group.

  • I shoulda been a dentist! The drillers are toying with all-time highs near OSX 225.

  • Or a Miner? The XAU is retesting all-time highs as well, levels not seen since the end of January and...are you ready? The heights of 1987.

  • Silver futures are up another 5% in early hump day trade. This parabolic frolic, discussed this morning, is starting to feel more and more like forced buying. You don't have to regale me with the virtues of silver fundies--it's why I was pounding the table when it was trading with a $6 handle. But this feels different to me, like someone is trapped and in a world of hurt. Could this be the genesis of the hedge fund rumors? I have no edge, per se, but the pieces are starting to fit together.

  • Bonds are quietly down a full handle as the dollar tests six month lows.

  • Maybe I'm over-thinking the action (across asset classes and in commodity land) but something smells fishy and it's not Sushi Wednesday.

  • Newmont reports tomorrow. Keep that on ye radar if you're doing the jitterbug or craving an orange mocha frappacino!

  • Remember how scary the XAU March plunge was? The metal proxy was down a quick 20% in a matter of days. THAT is when I like to buy, as opposed to after they've rallied 20%.

  • Congrats, Minyans, we're officially over the weekly hump!


  • R.P.
No positions in stocks mentioned.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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