Random Thoughts for the Road
May peace be with you!
- Why is it that we feel better about ourselves if we eat a slice of cake a nibble at a time rather than all at once?
- S&P 970ish and NDX 1170ish are trendline support (on a closing basis) from the March lows. For those wondering when this healthy pullback becomes "unhealthy," those are decent levels to eyeball.
- Why would anybody want to take anything with a grain of salt? What's one grain gonna do for us?
- Big cap biotech hangs tough. Big cap tech (ex-Oracle (ORCL:Nasdaq)) is starting to slip a bit.
- We'll never talk at you in Minyanville, we'll always talk with you.
- How old IS Dikembe Mutombo?
- The brokers still act well -- and somebody is buying the schnitz out of this J.P. Morgan Chase (JPM:NYSE)!
- Happy 3-0 to longtime Minyan Reed "the dancin' bear" Woodson!
- How can Amanda Whirlitzer not be in our starting rotation?
- As it stands, that's a pretty nasty looking double top in the NDX.
- Minyanfest tomorrow (Saturday) afternoon in San Antonio. Rosario's (910 S. Alamo St. 210-223-1806) at 5:30 p.m. We may bring Fokker and toss him on the mechanical bull!
- The prevailing psychology continues to be "buy the dips." It'll keep working till it doesn't... but when it doesn't, there are gonna be alotta trapped bulls.
- The Internet, once thought to be the business product of the future, have removed pricing power from virtually every industry. Ironic, isn't it?
- Are you on Instant Messenger? You can download some awesome Minyanville icons by clicking here and scrolling to the bottom of the page!
- I will be out of the office on Monday.
- I haven't seen many pressers down here (they're scared). I can't blame 'em but, well, when everyone's scared to short, it's usually a "tell." (think of it in reverse, when everyone was scared to buy)
- Does a chicken have lips?
- On cue, the storms have arrived in New York City just in time for the weekend.
- The S&P triangle we discussed this morning has (thus far) held the lower band tag.
- NDX 1220 should offer some resistance on the upside.
- Sean Penn, Jennifer Jason Leigh, Judge Reinhold, Phoebe Cates, Forrest Whitaker, Eric Stoltz, Nicholas Cage and Anthony Edwards, Nancy Wilson.
- Tapes that spend the entire day typically end in that direction. With that said, watch the financials and breadth for signs of traction into the close. With the entire trading community so "edgy," sparks can fly either way. Good luck, my friends, and we'll reconnect on Tuesday.
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.
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.
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