By Todd Harrison May 18, 2004 11:49 am
Opportunities are made up easier than losses!
- Happy 40th birthday to my brother Joel. The lessons he taught me permeate my every day and I am a better man for having known him. I rarely ask much of the Minyanship but I will humbly request that each of you "do something Joel" this week--be kind to a stranger, call a loved one, listen to a friend in need or just take a moment and be good to yourself. It was his way.
- Has China ever revised an economic number?
- Very unlady like.
- The Fed's Broaddus was on the tape this morning saying that he's "dusting off his old inflation hawk feathers" and that the inflation picture has 'changed significantly' and 'would be a problem' for the bond market. Didn't he get the Elmer memo? You're not supposed to talk about that!
- Silver, Black and Ugh.
- If you're reading the Buzz and it hits the fritz, hit the F5 button on your computer.
- The morning lift to NDX 1400 effectively filled the gap from yesterday's lower opening.
- Trading hindsight is always 20/20.
- Be wary of expiration pin risk--that's when a stock will migrate to a strike price with a large open interest (relative to average daily trading volume).
- Phoenix's Haskell Wexler, 73, is in his 12th year of contesting three $31 parking tickets, a dispute that has taken him through 12 so-far-unsuccessful lawsuits. His complaint is that he thinks the ticket charges were unfairly raised by the city in 1992 from $6 to $16 and that the $15 late fee was entirely inappropriate. Even more burdensome than the lawsuits are Wexler's almost-daily telephone calls seeking his $93 back. A city attorney said Wexler's crusade plays the same role in his life as golf might for other retirees. [Arizona Republic]
- Download your AOL instant message critter icons here!
- I think we tracked down the worm that was chewing through my back end (at the office--the home computer is still spinning). It was an extremely frustrating (20 hour) Monday but ya know what? It coulda been worse.
- Zero percent financing will be a lesson in the history books of financial malaise.
- R.I.P Tony Randall.
- Trading tip: If you exit a position, don't continually stare at the ticker watching to see if you sold (bought) it too soon--spend your time (and your eyes) looking for new opportunities.
- As usual in the hundred-year-old Easter festival on the Greek isle of Chios, townspeople from two churches in Vrodandos stockpiled small rockets (an estimated 25,000 in all) and fired them at each other's bell on Easter morning while parishioners were inside for services (although the windows had been boarded up in anticipation). As in previous years, misguided rockets started fires in nearby houses, but unlike in some years, there were no deaths. [BBC News]
- For a weekly road map of trading catalysts, check out Collin's Monday morning quarterback. For a daily ketchup, nothing beats the Fokker Chronicles.
- "Our strategy is to go 200 miles per hour until we hit a brick wall," said Craig R. Barrett, Intel's chief executive. "At the same time, we go down parallel tracks to make sure we're ready to move in new directions when we have to." Makes sense for a nimble monkey to be quick on his feet--but an 800 lb. gorilla better be careful at 200 mph! (thanks Sean Mueller)
- I met this little girly, her hair was kinda curly...
- The nutty Nazz is doin' the spaz at NDX 1400 as the gap fillers battle it out. Breadth remains firm (watch for OTC slippage) and the primary subsectors are trying to hold their gains. I'll again remind ye faithful that until proven otherwise, the techs are simply churning under resistance. Why a churn rather than a base? The trend (before the slither and the field position (under support). A move through NDX 1440 would prove Boo wrong.
- Zanadu? She was on such a roll! (tell me about it, stud!)
- Brazil, which zoomed 2.5% outa the gate, has stripped, er, slipped back to a marginally green screen.
position in qqq
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