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Buzz Bits: Dow, Nasdaq Rally


Your daily Buzz & Banter highlights...


Editor's Note: This is a small sample of the content available on the Buzz and Banter.

Bell Buzz - Todd Harrison - 3:50 PM

  • ¿agua por favor?

  • There is nothing that would make the critters (MV) happier than many years of sustained economic expansion. I remain conscious, however, that the DNA of today's market landscape makes that prospect highly unlikely barring 1) massive dollar devaluation or 2) foreign assumption of our financial assets.

  • BKX 113.40 is the bank bogie for the bell.

  • General Electric is notably lagging today's snazzy tape. A quick look at the chart finds the 200-day moving average resting slightly below ($35). That zone serves as a nice and tight risk profile for those looking for a potential vehicle.

  • If you haven't been able to tell by the tone and tenor of my scribes, I've yet to fully shake the bug that was following around last week. I'm 85%, me thinks, and plan to be back on the hobby horse in no time. Regardless, another day of minxy fray is about to hit the history books so, with that, I'll wish you well into the bell and see YOU on the other side of the hump.


Randoms - Fil Zucchi - 1:44 PM

  • Put down my buy of Advanced Micro Devices (AMD) as "you did what?!? moment". The annoying ticker and its associated position are now officially off my screens . . . forever.

  • To add or to cash in?

  • The mojo in the Oil Services Trust (OIH) in the face of lower crude and heck or a recent run is mighty impressive. It too though deserves some caution up here.

  • While today all feels well in the world, Commercial Mortgage Backed Securities (CMBS) spreads continue to hang around the highest levels since the markets started getting agitated.

  • I was looking for the 85 level in the Japanese Yen (JYM07) and here it is. But the chart no longer looks that inviting at this point.

Position in SSRI, OIH

Interesting... - Kevin Depew - 1:05 PM

Today the 10-year yield index (TNX) and 10-year Treasury futures are registering DeMark setups.

The TNX has registered a TD-Sequential sell setup (not yet perfected) and the TY/ has registered a TD-Sequential buy setup.

This implies lower rates and higher bond prices.

I wanna go back - Jeff Macke - 12:43 PM

Hello from New Jersey where I'm spending two nights and one day after spending the weekend in Hilton Head with the family. My vacation resumes with a 6am flight back down South to rejoin my crew in the morning. Does it seem crazed to have spent the weekend frolicking with the kiddies when I just had to fly back yesterday morning? It would have to me as well, until I had kids and turned into a big, huge, sissy man about my family. I'm comfortable with that.

In less touchy-feely news...

  • Bloomsbury (BMY on the London exchange) is off 3.5% after missing earnings by a mile but promising better things for this year, when the company publishes the final chapter of the Harry Potter series. It seems like a relatively tame reaction, considering the company seems to have all its eggs in the Harry basket. Then again, with actor Daniel Radcliffe going full-Monty on the London stage, perhaps Bloomsbury is hopeful for a Madonna-esque picture book from the man who plays Harry.

  • While spending hours worth of delays in the airport, it was impossible to miss pictures of WWE Chairman Vince McMahon getting his head shaved which was being run on every major news network yesterday. You can hate wrestling as theater but you have to respect that kind of publicity. Needless to say, from where I'm sitting, Vince's new look is a vast improvement as well.

  • Best Buy (BBY) is rocking even more than the broader tape today as the co gets set to report tomorrow morning. Today's rally may be stealing from tomorrow's reaction but I still can't help but feel as though there is a HUGE amount of bad news built into BBY's stock.
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