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Buzz Bits: Dow, Nasdaq Close in the Green


Your daily Buzz & Banter highlights...


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

It all comes down to this roll. Roy Munson, a man-child, with a dream to topple bowling giant Ernie McCracken... - Todd Harrison - 3:47 PM

And so it is, after a fluxy, post-holiday session, the Minx is quietly edging towards thy bell that tolls. The Matador Crowd gave the upside the ol' college try but, when push came to shove, the aforementioned S&P trendline woke up the sellers and capped the effort.

The good news for Hoofy is that market breadth remained constructive for most of the day. The not-so-hot news is that occurred in the context of anemic volume (to be expected after a long weekend) and under resistance (S&P, BKX). Boo would also note that, given the M&A news, the tape "should" have responded more favorably.

Net/net, we should be careful not to read too much into the action given that alotta traders have sand in their shorts (figuratively and literally). Hopefully, the flickering ticks will pick up steam tomorrow and, true to form, we'll be right here to walk the walk and talk the talk.

In any event, I'm gonna flip lids and juggle hats as we ready to turn the page on yet another session. It's a beautiful day out--or so I hear--so however you hit 'em today, make sure you make tonight count. Tomorrow, as they say, is promised to nobody.

May peace be with you.


Under the Hood - Kevin Depew - 1:46 PM
  • Along the lines of Toddo's comments earlier on positive breadth, in point and figure terms new buy signals are leading new sell signals 12 to 6.
  • Overall buy signals are leading 36 to 7.
  • Although the Nasdaq and Russell 2000 are outperforming so far today, those are the areas where supply has control, based on the point and figure indicators.
  • The S&P 500 and NYSE-listed stocks are where demand is firmly in control.
  • The debut over the weekend of the Indianapolis Zoo's $9.5 million "Oceans" exhibit, which features a shark petting pool for children, was marred by low turnout, according to the Indianapolis Star. Zoo officials blamed soggy weather for the low attendance while parents blamed the low turnout on fear of the children's shark petting pool.

Less Crowded Energy Trade - Ryan Krueger - 10:39 AM

Last month Toddo ask me for an energy wish list. I wanted to share a less crowded trade than traditional energy companies, but a group that was potentially even more leveraged to the true supply shortage in energy, from my perch – engineering. I shared a group of stocks that if you bought every single share outstanding would have cost you under $29 billion at the same time Exxon Mobil (XOM) was fetching about $440 billion. At the top of that list was a little outfit called Washington Group (WNG). It is not as little this morning as it is being reported that URS (URS) is in fact, buying all of the company's shares which are trading significantly higher on the news taking the group with them.

This was good teamwork, and I'll compliment Toddo – who at the TD Ameritrade Apex conference down here in Houston really warmed up to the Energy sector at the perfect time (pleasing the crowd a lot more than when I told the California conference ethanol wouldn't work economically) at a time when it was not the easy trade.

Now, most investors feel like they need Energy stocks for their portfolios to work. I wanted to share some thoughts, instead, about a group – engineers - that Energy stocks needed for their rigs work.

And in case you doubted the benefits of tithing to the Market Gods with plates full of humility…I got some grins (which helped muffle the whimpering) after getting an e-mail from Minyan Renee who, after reading my post on closing out a short and a long just before a plunge and buyout respectively last week, said: "…it gives me some kind of solace to know that a person with much more trading experience can also suffer…"

Toddo says it best, "Be humble or the market will do it for you."

Position in WNG and several engineers

I read the news today... - Jeff Macke - 10:21 AM

Two companies I've gotten to know through Fast Money are in the news of late. You can read the headlines on today's buzz. My reactions to the news, and other thoughts, are here:

  • Liz Claiborne (LIZ), up today on a report in the NY Post speculating that the company is going to be subject to massive layoffs. Hats off to Suzanne Kapner, a terrific retail reporter, for getting some details on the cuts but we've known "something" of this sort was coming since CEO William McComb took over last year. Liz could continue to bleed margin and revenues forever, in its current format. If you're selling fashions to department stores who'd rather go private label you're in trouble. McComb is going to focus the company on its specialty divisions, where it can control its own destiny. It's a smart, heavily foreshadowed move.

  • Jones Soda (JSDA), getting pounded on a Barron's report that the company is expensive on trailing and 2007 EPS. This is also a truism and, related to LIZ, management is making a conscious decision to take a step or two back in order to leap ahead. JSDA coulda been a cult brand forever, had it stuck to its bottles-only format. It is going for wider distribution and that means more expenses and some near term pain. No advice, other than "be patient" but I still like the stock in the teens.

  • Congrats to Rampage Jackson, the new UFC Light Heavyweight Champion after dethroning Chuck Lidell in less than two-minutes on Saturday night. It's been true since the days of John L. Sullivan: always bet against the fighter who is "going Hollywood" (or Vaudeville, in the case of John L.). Fighting isn't a profession which lends itself to civility.

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