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Random Thoughts

By

As go the financials, so goes the tape.

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  • "This remains the strangest tape I've ever seen. Someone is buying indexes and then stocks fill in for sale. That someone then buys the indices again, all stocks follow higher, before sellers come in (to individual stocks) and the indices get heavy...until buyers of indexes reappear and then it repeats over and over. My point is that entities are just buying stock markets instead of companies, regardless of any discernment." John Succo on yesterday's Buzz

  • If I were a Hussman, Ya ha deedle deedle, bubba bubba deedle deedle dum...

  • Newmont, which turned from jiggy to squiggy yesterday, is flirting with Red Dye again. If this gets thwacked on the Peru stuff, I'm gonna buy some back (me love this long-term).

  • My sense, for lack of a better word, is that IF Hoofy can rally the troops; Boo will have a tough time repeating yesterday's thumper.

  • Alternative rock? Nah, alternative energy!

  • T-minus three days till we shake some bones. Noice!

  • The drillers, which were quietly thumped late yesterday, probed previous acne out of the gate. Textbook technicals dictate that the retest of a breakout is an optimal time to buy.

  • As mentioned in my opener, I had dinner last night with one of the best traders on the Street (he runs ten figure size). We spoke on the financials and, while he 'sees' a pull-back, he believes that they've still got plenty of room to run. So ya know...

  • We've been discussing the "debasing" of the dollar for a while now. In fact, we delved into it this morning anew. Pay attention to this, Minyans, not because the DXY is down another 80 bips, but because it has the potential to go a lot lower.

  • Consistent with my stated plan of action, I nibbled anew on some SunMicro as it filled the gap (near $5). The risk to this trade? Scott McNealy has been dumping alotta stock and that isn't exactly a warm and fuzzy vote of confidence.

  • Google is knock, knock, knocking on $400 again. Please see both gaps--the one above ($407 to $435) and the one below ($364 to $342).

  • Is this a good omen for Farley as he makes his case to rejoin MVHQ upon graduation?

  • An astute Minyan asked if Warren Buffett's put sale was a bet that Boom Boom will keep "things" reflated. Interesting thought, particularly if WB is short the dollar as well.

  • Citi $48. See it, cookie, as it's a big level

  • So lemme get this straight, Ambassador, you're telling me that you lost a Russian nuclear submarine?

  • Professor Sedacca keeps telling me that he wants to take me fly fishing in Vail. That should be interesting as the only fly fishing I've done is after a Thanksgiving meal.

  • See how the DRG hugs 330? The reverse dandruff (bullish) is still in place but the sector acts a bit flaky of late.

  • Herb Greenberg of MarketWatch just "officially" RSVP'd for MIM3. Noice!

  • As go the financials, so goes the tape. And yes, I'm short a coupla these pups for a trade (vs. a spate of select longs).

  • NYSE internals are workin' nine to five (what a way to make a living...). Nazz breadth continues to be unimpressive.

  • The Fed's Fisher is on the tape saying the U.S is "enjoying robust growth" but fails to mention the ever-expanding debt that is facilitating it. He also said that an "inverted yield curve doesn't portend a recession" and, in fact, that "a flat yield curve reflects liquidity in the system."


  • R.P.
position in sunw, c, select pharma

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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