By Todd Harrison Jun 16, 2004 11:32 am
Those Red SOX are such a bummer!
- I can't believe I had to blow off the Dead at Red Rocks this weekend for a wedding. I deserve to be docked one Birkenstock!
- The brokers, after listening to chin music outa the gate, have edged back to the green. This complex will go a long way in helping to craft trader's psychology.
- The Reflex isn't a lonely child anymore!
- The dollar rally is pickin' up steam as fixed income slinks and the metals blink. Gold is almost down a finski and silver is creepin' ever so closer to rip cord support.
- From Minyan Rob Fraim: "The number of millionaires in the U.S. rose by 14% last year - the highest level of increase since 1999. Let's see...which inflated asset class created those 1999 millionaires? And what happened then? And which asset class created the millionaires this time? Hmmm..."
- The Treasury Department's agency that investigates illegal financing across U.S. borders was recently revealed to have only four agents working on money traceable to Osama bin Laden, but 21 agents working full-time on violations of the U.S. embargo of Cuba. [Associated Press]
- The drillers are gettin' jiggy with it.
- Anything worth anything takes time and effort.
- If you're not reading the Buzz, you're missing some of the best content in the 'Ville.
- Ben Wallace.
- The homies held 200-day support at HGX 358.
- From Collins on the Buzz: "Yesterday the biotechs attempted to get up off the post-ASCO related canvas as they managed to cling to support near 480. The BTK took roughly a 15% fall from the April highs and investors further sold the news following the conference. David discussed this characteristic yesterday in detail. I would just offer that this further illuminates the point that the focus is always forward-looking rather than on the here and now. By the time this information officially hits the tape it is usually old news to those "in the know"." In any event, at 10:00 Biogen Idec (BIIB:NASD) began their analyst meeting. The stock continues to hover right at its 50 dma (59.35) and is sitting on the trendline from Dec. BIIB is a 6% weighting in the BTK, 11.5% of Biotech Holdrs (BBH) and 5% of the Nasdaq biotech i-Shares (IBB).
- Minyanville would like to officially welcome Eric Maxon and Nick Martino as our new summer apprentices (Bill Meehan III has also joined the fold but he's gonna stick around but he's a legacy!). Collins and Fokker are currently "rock, paper, scissoring" who gets which chair at the conference room table!
- The Japanese navy created a TV ad to encourage enlistment. In the spot, seven actors were dressed, Village People-like, as sailors dancing on the deck of a ship, singing (roughly translated), "Nippon Seaman Ship, Seaman Ship, For Love ... For Peace" and "I Love Japan, I Love Peace, The Maritime Self-Defense Force." The ad is needed, said a senior officer, because "there are a lot of young people and women who don't seem interested in the navy." [Reuters]
- Europe holds firm.
- If you are interested in a firm (group) discount to the 'Ville, let's get it done!
- My Red Sox pals have been quiet lately. If the Yankees don't get healthy soon, however, I'm sure the phone will start ringing anew.
- The Minyans have spoken and the top all-time guitarists (in order of preference) are 1.) Jimi Hendrix 2.) Eric Clapton 3.) Stevie R. V. 4.) Jimmy Page. I love slow hand but respectfully disagree that he trumps Stevie Ray!
- From Lehman's aptly named chartist Jeff DeGraff: "Bottom line-momentum is still positive but few of the signs to confirm legitimate momentum have developed. The market is now overbought and our MSI (master sentiment indicators) has started to move back into optimistic territory."
- The semis just can't seem to find their footing today.
- Click here to learn more about the Minyan Mountain Minglefest! It's gonna be a stone cold groove! And thanks in advance to our friends at StreetAccount, MSHowells and Cantor Fitz for their continued support!
position in silver
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