I'll need to turn the internals if I'm gonna win C.O.D honors.
- "Real heroes are men who fall and fail and are flawed, but win out in the end because they've stayed true to their ideals, beliefs and commitments." - Kevin Costner
- For all you macro hitters, please know that alotta currency traders are eyeing 120.50 in the dollar/euro as a key inflection point.
- The brokers are the sentiment proxy du jour. They opened in the hole, rallied sharply and have now settled back into a flattish posture.
- Mr. Jian Feng, of Hegang in northern China, became suspicious when his wife gave birth to a baby he regarded as seriously ugly. She admitted that, although she was not adulterous, she had herself been seriously ugly before she met Jian, but had major plastic surgery in South Korea and now did not much resemble her genetic look. Jian divorced her and in May sued her for fraud. [South African Press Association]
- Do Fed heads get paid by the word?
- Fedex (FDX:NYSE), Goodyear (GT:NYSE) and Micron (MU:NYSE) highlight tomorrow's earnings parade.
- The trannies (ticklin' '04 highs) and brokers (ticklin' '04 lows) are going the wrong way.
- I guess a few rainbow cookies aren't all that bad in the scheme of things.
- From the always insightful Phil Erlanger's morning missive: "The Diamonds had a minor increase in short selling, but the QQQ and SPY index ETFs had decreases in short selling, continuing a short intensity downtrend that started this year. Overall, the picture is mixed, which fits the current listless market. This month's short report, however, is more constructive than we had anticipated."
- California law firms have asked a court to approve $258 million in fees for their handling of a lawsuit against Microsoft -- amounting to $3,000 an hour for the lead attorney (who billed for 6,000 hours of his own time, even though three dozen lawyers from more than 30 firms had a piece of the case) and $1,000 an hour for administrative work. Consumers will participate in the following windfall: Each victim will get a coupon worth $5 to $29 toward the purchase of another Microsoft product. [San Francisco Chronicle]
- The metals trade with a firmer tone after being draggy early this morning.
- Minyans are welcome to join Dan Meehan and I for a gaggle of schnitzel tonight as we wish him a happy birthday and sent him off to a new job in Baltimore. We'll be meeting at the Town Crier in NYC (53rd b/w 1st and 2nd) around 6pm. Half price drinks to anyone wearing a Yankee cap between 6-8!
- The retail sector--led by a lethargic Wal-Mart (WMT:NYSE)--is gettin' tagged this morning on the heels of this morning's sales data
- Under the headline "Trio Arrested for Breaking in and Performing Dental Work": Two people tried to help a friend who had lost part of a filling one night and couldn't wait until the dentist's office opened the next morning. [Town Talk - Alexandria, LA]
- "Be more prompt to go to a friend in adversity than in prosperity" - Chilo
- Listen to your friend Billy Zane. He's a cool guy.
- "The former president and future best-selling author, Chelsea's father and my constituent." -- Sen. Hillary Rodham Clinton introducing husband at his book party in New York, according to the New York Post.
- N's over S's...but please monitor NDX 1450 as a pretty important level.
- Speaking of the "kiss of death" (as we saw at silver $6 yesterday), the NASDAQ composite 50-day moving average is crossing over the 200-day moving average. Other professors have noted the "non-correlation" of this signal vs. performance but it's worth noting regardless.
- T-Mac to the Rockets? Shaq to Dallas for Dirk? This is gonna be a whacky off season.
- So THAT'S where Phoebe went!
- Minyanville trailer.
- In my zestful quest for my rightful place in the Guinness Book of World Records, my streak of Minyan meetings continues today with an uber-important lunch munch and an "on the bell" media swell. Thanks kindly for your understanding.
- The sticky semis are thus far braving the Red Dye crosscurrents and keeping the N's over S's vibe alive. The internals aren't that different (2:1 neg NYSE vs. 9:5 neg NASD) but the tone is much better.
- Fester "Gimp" Meehan will be offering private massages at the Crested Butte Minyan Mountainfest. I'm kidding (I think) but you still wanna take a good hard look at our upcoming retreat. We hope to make this an annual fete.
- If you're interested in introducing the critters to your entire firm, we would very much appreciate the introduction.
- The Rocket got rocked last week. 0-2 with a 8.44 ERA.
- When's the last time you listened to Journey's greatest hits?
- Negative energy is wasted energy.
- They call him Weldon. Greg Weldon.
- Continued thanks to Cynthia Dietzmann and the entire StreetAccount team. It's nice to see good things happen to good people.
- A derivative contact pinged me at 11:30 to say that he saw some real money buyers enter the market.
- Rizzo's got a bun in the oven!
- Watch Citigroup (C:NYSE).
- The key to longevity in this business is the ability to smooth the process. Don't let yourself get too down after a bad day or too high after a profitable one. Just toss the ball back to the mound, jog to the dugout and leave emotions to the fans.
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