Tradin' with the Keyser
Fare ye well into the bell!
"Before you... do me in, Mr. McManus, you will let me finish my business with Ms. Finneran first, won't you?"
--Kobayashi, The Usual Suspects
Keaton once said, "I don't believe in God, but I'm afraid of him." Well I believe in God, and the only thing that scares me are these jittery critters! I'm sittin' at my turret trying to work--I swear I am--but Hoofy McManus, Boo Fenster, Snapper Hockney, Sammy Kint and Daisy Finneran won't leave me alone! They keep mumblin' something about shooting the Minx in the back but I can't focus on metaphorical imagery right now--there's work to be done!
The tapes gettin' flipped (flipped for real) as we edge outa contra-hour and eye thy closing bell. There has been a constructive tone all day (S's over N's) but the Damascus fracas gave the fence sitters an excuse to punt. It's hard to quantify these geopolitical inputs as their impact is a function of the collective psychology. That means that they've been brushed off for the last year but will, in fact, add to the angst should that metric turn.
The technical take remains much the same as we edge forward through the muck. S&P 1150/60 and NDX 1500/10 are beacons in the night and they should be on any trading radar. It is worth noting, me thinks, that the SOX has slipped through the 200-day and while we've seen this movie before (it's on cable), that doesn't mean we necessarily know the end. Acne...or smack me....that is the question.
RF Micro Devices (RFMD:NASD) will highlight tonight's parade while Boeing (BA:NYSE), Bristol Myers (BMY:NYSE), Halliburton (HAL:NYSE) and Newmont Mining (NEM:NYSE) will report before tomorrow's open. And while Beeks will be kinda quiet (ex mortgage apps), we will get further grist from Kohl's (KSS:NYSE) and General Electric (GE:NYSE), both of whom have their shareholder meetings. Exciting? Perhaps not, but hopefully we can show these critters of will what will really is!
I'm gonna hop and get this posted so lemme take this time to fare ye well. I would also like to thank ye faithful for their continued support as we further our dream of philanthropic education. This entire experience has been...well, an experience and I'm hopeful that we're in the early stages of a very long and exciting game. One inning at a time, my friends, as we toss the ball on the mound and jog back to the dugout.
May peace be with you.
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 firstname.lastname@example.org.
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