Posture will be everything in front of Mr. Beeks!
- Daisy is very excited to graze the sidelines!
- Have a question for the Minyan Mailbag? Go for it--our goal is to remove intimidation form the financial markets and provide insightful education. And remember...there's no such thing as a silly question.
- Overseas markets are getting thwacked with a ruler (think Blues Brothers). Brazil and Germany are down 3%+.
- I think Fokker met his future bride last night. Funny thing is, I "knew it" before he even saw her. And no, her name isn't Martha.
- Citigroup (C:NYSE) is sitting directly on its 200-day moving average ($47.84).
- The Russell 2000 is toying with fresh '04 lows and will break a triple bottom at RUT 555 (if and when). That, along with the synchronized trim, may be indicative of dirty pillows.
- On this date in 1959 a Pablo Picasso painting of a Dutch girl was sold for $154,000 in London. It was, at that time, the highest price paid for a work by a living artist. Yesterday Picasso's 1905 painting "Boy with a Pipe" sold for $104 million at Sotheby's. I guess inflation is in the eye of the beholder.
- Elmer was on the tape saying that a slowing China economy will trim commodity prices. That's obviously not 'new'--it's been around for a few weeks--and it'll be interesting to see if this exacerbates the smelting or provides a pivot point (as master of the oblivious).
- The Minx, after some gap fillage, takes a hard right turn and eyes last week's lows. NDX 1400 and S&P 1107 are the last beacons before the March (and '04) lows of NDX 1370 and S&P 1087.
- I haven't seen breadth this bad since I woke up nose to nose with Phoebe. The losers are swarming the winners 7:1 on the NYSE.
- Be a Weiner!
- On this date in 1915, Babe Ruth hit his first major league home run while playing for the Boston Red Sox. I believe that Neil Glassman was in attendance.
- The semis trade like they're a bit crowded (on the short side). If Snapper peeks his beak out--which will be tough with the internals (and financials) so heavy--he'll likely swing by this sector first.
- I am having a special Thursday edition Sashimifest with Mssrs.. Santoli, Roque and Schottenfeld today. Extra wasabi, Collins, chop chop!
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- The stochastic buy signals we saw a few days ago are still 'closer' to buy signals but could certainly pretzel twist a bit.
- The VXO (volatility measure) is up almost 12% and testing 18 again. We discussed the potential disconnect between perception and reality in Maury's Wig last night.
- Sexual Chocolate!
- The potential for serious two-sided gappage (tomorrow morning) may cloud the afternoon agendas a bit.
- I've feared that we've been in the early stages of a multiyear bear market since 2000. Sometimes it seemed right--sometimes it's been wrong--but it has always been offered as one trader's humble opinion. That's what chaps my lap about some of these loud market pundits--they try to make you feel silly for missing a move (but are nowhere to be found when you're run over by it).
- I'll tell anyone that I care about that the single most important wisdom I can impart is as follows: the purpose of the journey is the journey itself. There will always be new goals, better performance, professional deadlines, social pressures and self-imposed standards. But if you're constantly looking ahead and not enjoying the "now," it doesn't really matter where you go because you'll never be happy.
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 email@example.com.
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