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Random Thoughts

By

Afleet on your feet as we start off the week!

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  • Minyanville would like to thank Jordan Farkas for his involvement in the all-star guitar. He was the gentleman who initiated the process and it wouldn't exist without his considerable effort.

  • The life of Boo.

  • A quick sniff of the trading tiff finds market breadth jazzy (2:1), volume (understandably) light, laggy financials (banks and brokers), sloppy semis, a drippy dollar and traders focusing on S&P 1192 (April highs) for near-term directive. If you get the sense that I don't have an uber-strong short-term feel here, it's because I don't. As long as the internals remain skewed, however, Hoofy holds onto the benefit of the doubt.

  • Taxing issues.

  • "With the continued advance of equities, short positions become increasingly uncomfortable. Though most of the rally to this point has been attributed to short-covering, futures data continues to reflect significant speculator's short positions outstanding, particularly on the NDX. Our Master Sentiment Indicator is still neutral, as are our trend indications. From the technical perspective, the characteristics of this move appear similar to the move we experienced in August of 2004, a move that was tradable within the context of a broader range." -- Jeff DeGraaf of Lehman Brothers.

  • This critter belongs in Minyanville!

  • I say we let Phoebe and Zoë get medieval on this woman!

  • The net/net on Saturday's U2 show? >From a pure content standpoint, I'd give it a "7"-they opened slow, finished strong but lapsed with the encores. From an "experience" standpoint, I'd give it a "10" as there is nothing better than sharing time with my brother Lionel.

  • ADRS for the A.D.D.

  • "It's Mooeja vu all over again, yet the time to be bullish was weeks ago, NOT now. What should happen from here is an attempt at a small pullback followed by a rally to slightly higher reaction highs to complete an intermediate stock market top. Meanwhile, the CRB (commodities) index has broken down in the charts, as have precious metals and oil. In fact the entire "stuff stock" complex looks lower, which is why we remain hedged on the downside in most of these investment positions. Longer term we continue to believe "stuff" is the place to be! Now some of this stuff-stock weakness is likely attributable to a change in the "measuring stick" (i.e. the dollar) as the anticipated counter-trend dollar rally continues and that caused one Wall Street wag to note, "I think a trader has to have the ability - or investor I should say - has to have the ability to adjust to being wrong. In other words, you can't be too stubborn. You must have a certain degree of flexibility as to what's going on." We continue to invest accordingly." -- Jeff "As Good as it Gets" Saut of Raymond James.

  • Vibes from Dr. John.
  • Hear Ye, Hear Ye! The Minyans in the Mountains II registration is officially open! Please check out the details of our summer Festivus as we attempt to build on last year's fantastic gathering. We're still adding to the MV network of professionals and will update the site as we edge closer to August. Thanks for your continued support and we'll see YOU in Santa Barbara!

  • It's like giving a knife to a murderer.

  • The risk to watching General Motors (GM) and Ford (F) as "smoke" proxies? The maze of hedge fund positions that are skewing the equity action relative to the debt.

  • Please note the 'tude in crude as the front month futes edge towards the magical mystery $50 level.

  • Lesson learned!

  • There was a time that I would feel guilty for sneaking out for an extended weekend. As I don't get to vibe with my mom much, I'm leaving any regrets behind when I trek to Santa Fe. She's awesome and I look forward to checking out her new digs in the desert.


    R.P.
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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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