More Random Thoughts!
Maybe if Boo got some action, he'd stop being such a bitter critter!
- Young Fokker (not to be confused with Young Frankenstein) is subtly hinting that he, too, would like a column. Perhaps, Greg... but first, bark like a dog. A big dog.
- A few technical thoughts from Minyan Scott Smith: S&P 965.8 = weekly close 9/21/01 (part of neckline of five-year HS pattern), S&P 970 = 50% of the 1172 - 768 down move. S&P 973.9 = weekly close 9/4/98 (neckline), S&P 974.55 = A = C move, S&P 978.2 = 50% of the fib grid from top (1552) to fib target of 622 (632 is 61.8% retrace of 1974 bottom at 62.28 to top at 1552.87), S&P 978 = 38% of the 1315 - 768 down move, S&P 980 area = Bearish Butterfly Target, S&P 981 = 20-Month Moving Average, S&P 983.46 = 38.2% retrace of 26 yr bull market move of 62.28 to 1552.87 (what was support is now resistance - how the heck did I miss that in Sept. '01?), S&P 984.3 = weekly close 10/9/98 (neckline), S&P 988 = Wave 5 target for up move since March, S&P 1019 = w5 = w1 target for up move since March. WOW!
- The Boo bachelorette babequest continues --and thus far, Cassidy is in the lead. It's been a long time since our resident bear's gotten lucky!
- Markets that are up all day tend to end that day although most everyone I speak with is expecting the end of month jam job (higher).
- As a function of the above thought, I've tightened my stops on some of my peripheral exposure.
- Finding balance is a difficult yet necessary endeavor.
- I can't believe Adam Jay Friedman is blowing us off for the pre-DSO Minyanhead gathering on Wednesday. Selfish Minyans!
- 10% of the proceeds from Harrison's Department Store will be donated to The Ruby Peck Foundation For Children's Education.
- Speaking of which, we're planning on doing something pretty snazzy with the all-star guitar.
- The intraday tape is drifty with (marginally) lower highs BUT the breadth doesn't back off an inch.
- I just suddenly had a craving to watch Stripes. Somebody tell P.J Soles!
- We've got a whole new crew comin' your way from a content standpoint. If you can (and if you want), please help us in spreading the word as far and wide as possible. Our Minyanship is our livelihood and the critters would be most appreciative!
- You wanna hear something really cool? Steve Kerr, who was money last night against the Mavs, read his name in today's Random Thoughts. I didn't know he was a Minyan!
- Watch Citigroup in here.
- The structural "element" has impacted the psychological metric in a huge way.
- Boo continues to ramble on about conspiracy theories. He just walked up to me and said "Come on, Toddo, the government clearly propped up the market in front of the war and Bush has an election agenda in play. You'd probably hear more about it more if the media wasn't so manipulated." Dude -- it's alright to think that kinda stuff, just make sure you don't put it on the site. The Minyans will think you're nuts!
- I still can't believe it's summer. Where did February, March, April and May go?
- Fading the breakout may be the money trade (the toughest fades are the best fades) BUT if it doesn't work, you leave yourself open for second- and third-guessing on WHY you would do something like that.
- I'd like to see Jason Kidd get a ring. Duncan already has one.
- You're not a bug, are you gnat?
- Just as the recent rally seems obvious in hindsight, the inevitable sell-off will as well.
- Are too many traders "leaning" against S&P 965? Prolly... and if there's to be a reversal, it likely comes from above those stop levels?
- I invited Fokker to our "farewell Casey" dinner tonight. A girl's gotta eat!
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 firstname.lastname@example.org.
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