By Todd Harrison Jun 23, 2004 12:05 pm
The trannies are a turtle's best friend!
- Looking for a fun way to start the day with some chuckles and good market info? E-mail Rob Fraim to get hooked up.
- The trannies are breaking out to fresh multiyear highs and that fact isn't lost on the Dow theorists in our midst.
- The Texas two-step!
- Cause he's the Melo, the fellow, the one that likes to say hello...
- Lowry's Selling Pressure Index made a new 5-year low last night -- indicating the continued lack of supply.
- Has anybody ever seen Billy Meehan and Marc O'Brien in the same room at the same time?
- Everyone wants to get from here to there but few people remember to enjoy the ride.
- Kinda like Presstek, but not really.
- I remember a few years back, a large sell-side firm was trying to "catch" my hedge fund business. Lucent (LU:NYSE) had just reported earnings and their (sell side) trader picks up the phone and makes me a "dollar wide/100,000 share up" market. I knew the guy mispriced the merchandise (the stock wasn't trading and the earnings stunk) and asked him three times if he was "sure." After the third confirmation, I sheepishly said "sold ya 100 at xxx." Why sheepishly? I knew what was about to happen. After the next tick (down 8), the light began to ring and a very scared trader was stuttering and mumbling about how he couldn't get his hedge off (shocker!). I told him to "make it look like 25k down 4" and to be more careful in the future. Trying to buy business with aggressive markets in the midst of a catalyst is the fastest way to blow up (the 'buy side' is typically more 'current' on any given situation).
- Patches O'Houlihan
- Kim Dispigna?
- Succ wrote a story last week that should be flagged for future reference. With the hedge fund bubble ripe for poppage, structural elements could potentially emerge. Hedge fund bubble unwind.
- Washington Post: IF JUNE 23 IS YOUR BIRTHDAY . . . you will likely be surrounded by well-wishers who will brighten your day. Remember to check your e-mail. You have clear sailing ahead this summer, but close companions may be experiencing difficulties. Avoid being drawn into webs of deception spun by others, and adhere to high principles.
- Bond panic is the enemy of stocks. Stress the enemy of humans.
- Lehman's aptly named chartist, Jeff DeGraff, is watching for a break above S&P 1147 or below S&P 1105 to sway the current "trend indication."
- I consider myself lucky that I began to address the emotional ripples of 9/11 shortly after the fact. My fear is that a lot of folks--who were there or close to the situation--have buried their feelings and they remain in the subconscious--unresolved--and ticking...
- That is some chart in Broadcom (BRCM:NASD).
- I've covered up a bunch out of respect of the trannies and tightened my stops (both ways) due to the two-sided crosscurrents.
- Please keep the Minyans in the Mountains in front of you. It'll be a fantastic time and allow us all a chance to network, learn and absorb the family vibe.
No positions in stocks mentioned.
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