With the first pick in the draft, the Milwaukee Bucks select...Boo!
- Reflation station?
- "The Conference Board today revealed that its index of consumer confidence hit a new 3-year high in June. So consumers are optimistic, which means they will keep buying stuff, which means companies will earn more, which means stocks will rise, right? Not necessarily. There have been 12 other times in the past 38 years when consumer confidence hit a new 3-year high above 105 when the S&P didn't also close at a new high that same month. Three months later, the S&P showed an average return of -2.7%. I like to see consumers happy, confident and optimistic about the future...it makes me feel good. But I know better than to assume that's good for the stock market too. Often it's just the opposite." -- Jason Goepfert on today's Buzz.
- NYSE breadth is sticky green at 2:1. The longer it stays skewed, the better the odds that Hoofy will enjoy some silk milk into the close.
- Keep NDX 1509 (200-day) on ye radar as we edge forward through thy muck.
- Keeping tabs on the psychology bubble.
- Crude is up almost 30% in the last month but I'm already hearing the 2% pullback being given as an upside equity catalyst?
- Was the contest held in Red Dye?
- The journey...the journey...the journey...
- Has anybody seen John Snow and Peter Boyle in the same room at the same time?
- General Electric (GM), which spooked traders last week when it broke through support, is retesting the (important) $35 level. The 200-day rests a bit above and beyond this Tom Petty breakdown zone.
- Personally, I grew up in the business learning that trading errors must be immediately rectified. The last line of this article is baffling.
- Remember the Goldman Sachs (GS) $107.50 level?
- Oh N-O's!
- The high road is littered with bitten lips.
- Is the curtain behind the Fed next?
- Fare ye well into the afternoon bell!
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.
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