By Todd Harrison Jun 24, 2004 12:29 pm
How many traders are loaded up for the 'inevitable' breakout?
- I can "see" Hoofy in a dairy advertisement with a milk moustache saying "Got Milk?"
- The metals continue to dance higher. Gold $400 and silver $6 have been levels of contention and if they can close above, it'll bode well for the bulls. Please note that silver $6.20 is resistance (there now) and I have rolled up my stops from this morning's trade. Should they "trigger," I won't hesitate to elect them.
- Where...the hell...is Beeks?
- The bears are making a valiant stand and attempting to defend what are, by all accounts, critical technical levels. NDX 1500 and BKX 98ish are on my personal radar. I just told Boo to respect the minty breadth and the psychological dynamic. The higher the Minx, the more likely we'll see a "long squeeze" into quarter end.
- Ewww! The Gross Domestic Product will be released tomorrow (exp. 4.4%, deflator 2.6%). Beeks will also deliver personal consumption (exp. 3.9%) and the Wolverine confidence number (exp. 95).
- "Hit me again Ike...and this time put some stank on it!"
- Read at a Budapest zoo: "Please do not feed the animals. If you have any suitable food, give it to the guard on duty."
- Chatty Kathy.
- NYSE breadth (so far) bodes well for a "pop" before a potential "drop."
- If you're not Buzzin', you're not livin'.
- BKX 98.
- Do you feel a draft?
- Things in Minyanville are getting interesting and interestinger.
- A bold gold move.
- The critters are coming! The critters are coming! Minyanville will be featured this weekend on Bloomberg television and the E-Entertainment channel. You'll recognize me--I'm the guy with the hairline at the back of his neck!
- Bonds. Long Bonds.
- The German DAX is up 1.6% and tickling through 4,000.
- The same traders who are looking at equity charts are emboldened by the gold chart.
- I can't (and won't) tell you that vols can't get cheaper but I'm pretty confident in offering that they'll certainly get richer (in time).
- How many traders are waiting for that Goldman (GS:NYSE) window to open?
- Mellow is the man who knows what he's been missing. Many many men can't see the open road.
- If you think your firm (or trading desk or finance club) would like a group discount to the 'Ville, please let us know.
- Straight outa Compton.
- Slacker! It's become increasingly evident that a 'full' vacation isn't in the cards so I'm gonna compromise. I will be out next Friday and steal a quick respite in the land of Marley. Ya mon!
- Watch the breadth (and leaders) during counter-trend intraday moves. They'll likely offer clues whether it's a reversal or a necessary respite in a broader directional trend.
- "In the end, all you have is your word and your name." -Ruby Peck
position in silver
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