By Todd Harrison Jun 19, 2003 11:55 am
You're gonna do what, where?!?!
- The natural gas inventory data gave the OSX today's bid. The group doesn't "come in" with the market -- a sign of "dryness" (demand).
- How do I incorporate "pin risk" into my trading style? I either "lean" against a strike (as an "implied" stop) or I'll target a strike in a name that has a high open interest relative to the average daily volume. For instance (and I'm not playing or advising this): If you wanted to short General Electric (GE:NYSE), 30 is likely your upside risk through tomorrow.
- I'm craving Peter Luger's. Please don't tell Daisy, she'll think it's sick, perverted and incestuous.
- How do you trap the maximum number of bulls? Fill their heads with quarter-end mark-up chatter, reverse before the week before and never look back. Is that the script? Not sure -- but wouldn't shock the schvitz out of me.
- Oh, it's IN the computer!
- There are different levels of levels. S&P 1005 was a short term "day trading" level while S&P 975 is an intermediate term trendline level (off the March lows). S&P 1000 is psychologically important and a "marginal" trendline.
- Steve Rushin wrote a great article about Minyan Steve Kerr and the Spurs in the June 16 edition of Sports Illustrated. He hits the nail on the head: a classy guy on a classy team.
- Will the fact that we haven't found weapons of mass destruction be the first domino that leads to a congressional hearing on the administration's "handling" of Iraq?
- Fokker is getting saucy. He seems to forget that the keyboard is mightier than the sword. Does "leather body suit" ring a bell, kid?
- Hearing that the macros are sellin' today.
- Official expectations for noon release of Philly Fed is 5. I've heard whispers up to 10.
- Don't be penny wise point foolish.
- When does this become more than just a healthy pullback? Below S&P 975 (trendline).
- Scotto Reamer is swingin' by for lunch. We canned the sashimi order in favor of cheeseburgers and fries. Rainy day menu.
- The TICK just got to -999 for the first time since March. Wow.
- The breadth is trending towards 2:1 negative. When is the last time we had back-to-back days with that?
- If this rain keeps up, we're gonna have to build an ark for the critters.
- The "sell the news" (on the brokers) strikes again.
- Remember, negative gamma exacerbates volatility BOTH ways.
- IF the tape turns, the SOX will likely lead 'em up. If the slippage continues, the financials should continue to lead the weigh.
- Can Snapper emerge? In front of an expiration (negative gamma), anything can happen. Without sponsorship (or at least traction) from the banks, it's unlikely.
- You own EMI? The music company?
- KB Home (KBH:NYSE) and Solectron (SLR:NYSE) report after the close.
- As a general rule of thumb, I believe that good things happen to good people and everything happens for a reason.
- I miss summer camp.
- Scotto's here -- gotta hop!
postion in spx, oih, smh
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