Hump Day Randoms
By Todd Harrison Jun 29, 2005 8:40 am
My window gets smaller with bears so scarce...
- The talented Michael Santoli does his part to shake up Daisy's mojo.
- This is a sobering follow-up to Succo's Norwood vibe.
- Google, which has gurgled the bears of late, stepped into a mosh pit on the way to yesterday's close. Please keep an eye on this puppy as a quarter-end tell after the sudden seven handle drop.
- Ditto General Electric (GE) as it edges into breakdown resistance.
- I'm driving in my car. I turn on the radio. You're pulling me closer...and I just say Gross.
- Minyans might notice that we've put branded links to some of our Professors on the Buzz and I want to be forthright in sharing our intention. Our goal in the 'Ville is to feature our columnists and offer a window into their world. If you're digging their vibe, please feel free to support their efforts. They're here for a reason and we're proud to share a platform with each and every one of them.
- We're living it up at the Hotel California. Such a Minyanfest (such a Minyanfest) Such a Minyanfest...
- Does anyone feel a draft?
- Levels to watch today? How 'bout DJIA 10,400, NDX 1508 (200-day) and S&P 1200, a minxy trifecta if I ever saw one.
- Back to back. Mortgage slack. Son of a gun, better change your act.
- Joy, and pain. Sunshine and rain (here we go, here we go).
- High Ho Silver, on its way?
- More Silver!
- Even MORE Silver!
- The weekly Investor's Intelligence numbers are out and SHOCKA!--the bulls are up (55.1 from 53.9) and the bears are scramblin' (19.1 vs. 20.2)
- Steel Wheels.
- "Stag Party? But Trix are for kids! checking the GIS thread back up again, the "Ahead of the Tape" Wall Street Journal column by Justin Lahart I pointed out earlier is a nice, quick read describing the dynamic facing GIS, but which is also facing companies across a wide array of industries. Companies that raise prices are finding that consumers are reluctant to pay up for them, often switching to any available alternatives to avoid picking up the inflationary tab. The case of GIS is just the latest example. As the article outlined, the company last summer raised prices on its cold cereals to keep up with rising raw materials and compensation costs. And consumers responded by ditching their Lucky Charms and Trix for less expensive in-store brands. This is yet another example of a company finding its costs rising, but being unable to pass those rising costs on to consumers. FedEx (FDX) is another example that springs to mind. Last Friday on the Buzz John Succo described this perfectly: It is stagflation. "There is inflation in its inputs and deflation in its profits. That is stagflation," he wrote. Both Scott Reamer and I are in the inevitable, in our view, deflation camp. But that's largely a question of time frame. As John also pointed out, stagflation is merely a layover on the way to deflation." Pepe Depew on this morning's Buzz
- If I were a Hussman. Ya ha deedle deedle, bubba bubba deedle deedle dum...
- Tick Tock Toby?
- T-Minus 51 days and counting...
- Speaking of ticking tocks, quarter-end angst is building as portfolio managers get set to pen their missives to investors. A few thoughts in that regard. 1) the FOMC overlap should help Xanax sales (as traders wait for Elmer's language) 2) Invisible catalysts are always tough to game but we gotta respect motivated agendas and 3) I don't think the real story will break until early July when we start to see the effects of redemptions (hedge funds typically open their gates each quarter).
- I ran into a good buddy last night who covers hedge funds for a living. He told me that eight--count 'em!--of his accounts ($100 million-$1.5 billion) have closed their doors in the last coupla months.
- Hit 'em hard, Minyans, and let's truck through the muck to the other side of the Hump.
No positions in stocks mentioned.
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