- Has anybody ever seen Sumner Redstone and Ralph Belamy in the same room at the same time? Sell, Mortimer, sell....!
- Chatter swept the street this morning that China will raise short-term rates in the next 48 hours. This is obviously not confirmed but I've heard it from several sources and wanted to pass it along. It could help explain the pressure on equities and metals.
- "The streets are safe in Philadelphia. It's only the people who make them unsafe." -- Frank Rizzo, ex-police chief and mayor of Philadelphia.
- The semi blemish continues as the SOX is getting rocked for 2.5%.
- With regard to the metal smelting, I think the root cause is a convergence of factors--the charts were just plain fugly entering the day (both gold and silver), the China chatter--however stale--forced the hands of the fence sitters and a large contingent still views this recent rally as counter-trend. We spoke yesterday about the relatively tight risk parameters on the short side (using gold $400 and silver $6.25 as stops) and I schnitzeled that way for a quickie trade. My longer term view on the group remains constructive but I was simply trying to make a lil' hay during the solar eclipse. My stops are "trailing," so you know, and I will cover up should they 'elect.'
- Daisy is NOT available for bachelor parties. Come on now.
- Crude, down 2.5% today, has yet to give the anticipated boost to equities. Still, the Minx hangs tough (as evidenced by the breadth) in the face of sloppy sec, er, semis and that's a constructive vibe for the bovine. Citigroup (C:NYSE) and the transports also trade well, considering, and is also adding to Boo's bummin'.
- Shouldn't the Miss Universe pageant include women from other planets?
- Watch the internets as a psychology/tech proxy (particularly with the stochastics crossing at the top).
- Thanks to Newport Minyans Tim and Lorri Burns for their hospitality.
- My young nephew Brad had a "situation" the Monday night when a complication arose after his recent surgery (tonsils). It was a massive scare (he's doing fine) but, once again, it served a reminder of what really matters in life and how petty most of our troubles are.
- Is it me or did the first half of the year absolutely fly by?
- BKX 98 remains the biggest technical hurdle for equities.
- Daisy Dwyer?
- What is the "pain" trade from here? Remember, the Minx likes to travel the path of maximum frustration.
- If all goes well, we should have the details for the Minyan Mountain Minglefest ready to roll next week. And wait'll Otis sees us...
- I've been saying for a while that I think energy will surpass financials as highest weighting in the S&P. I think that's one of the "easier" trades out there.
- Setting stops removes emotions (and limits risk). Rolling stops allows winners to run.
- Don't think, Meat, just throw.
- "Hi uble toddy. tank you my pwesents--i like the puppets--especially the one dat says wibbet."
- Some of the best traders I know only make a few trades per week. There's a lesson in that.
- I'm being told that Neil Glassman is the new spokesman for Depends. Not confirmed.
- From Professor Succo on the Buzz: "It is a beautiful day in NY, so don't tell anybody, but I am sneaking out to go golfing. Let's call it a sanity day. The markets are slightly higher this morning and once again quiet; investors seem encouraged by the market's ability to "shake off bad news". I only want to leave you with one thought. I have said for some time that the problems for equities will begin when the dollar and bonds go down at the same time. On the margin this is beginning to happen. Equities will not be able to hold up if this trend gains legs."
- I've always felt that Bill Meehan was a Minyan at heart--and soon we may have proof.
- Can you name your first grade teacher?
- Minyan Ambassadorships are still available. If you would like to earn while you learn, ask us how!
- I haven't taken a real vacation in a year. THAT, my friends, is counter-productive.
- If you're having trouble "seeing" the market, adjust the time frame on your charts. Zooming in and out will likely plant a seed or initiate a thought.
- I sure hope Succo is having fun. Must be nice...
- There are surely stops set above S&P 1125 (last week's highs).
- Everyone ping Peter Ferriso!
- Kla-Tencor (KLAC:NASD) can't rally with the tape.
- Will the real Greg Fokker please stand up, please stand up.
- Diggin' the critters? Please help us spread the word!
- "I've been eating a lot of cheese. Maybe it's an allergy or something? I feel like a big mouse!"
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.
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.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter