By Todd Harrison Jun 03, 2003 11:10 am
Watch for developing patterns of lower (higher) lows on the daily and weekly charts
- Crude, while marginally lower today, offers another potential fly in an extended tape.
- Elmer continues to include deflation as a topic of conversation.
- The next time you're in a sushi restaurant, order two pieces of salmon sashimi, two pieces of tuna sashimi and a shaka kahn hand roll. Watch the expression on the server's face.
- S&P 940-945 and NDX 1160ish are the next support zones, S&P 980ish remains upside resistance.
- Thus far, the down/up/DOWN thesis is following our humble script.
- Do you think yesterday's sharp afternoon sell-off had anything to do with the IBM (IBM:NYSE) news (that wasn't released until after the close)?
- Smock is a funny word. So is Uranus.
- Welcome Scott Reamer!
- Minyanville update: In the near future, News & Views (which currently hosts the longer pieces from our columnists) will also be the home of a "Buzz & Banter." These will be shorter (time-sensitive) inputs for the active Minyans among you. If the email alerts become cumbersome, please remember that you have the option to turn 'em off.
- Does the market act great in the face of IBM, or are traders too conditioned to expect dip buyers?
- Does your dog bite?
- Calling all Minyans! Please be an ambassador for our humble little town by taking the time to spread the word.
- Software, storage and the banks act relatively dry. The retailers, defense, drillers and biotechs act relatively heavy.
- Deutsche Bank (media), Goldman (gaming), CS First Boston (oil and gas), UBS Warburg (specialty pharma) and Bernstein (strategic decisions) start their conferences tomorrow. Smith Barney (semiconductors) starts their party on Thursday.
- Minyanheads who are attending tomorrow night's Dark Star Orchestra show at Irving Plaza, we're eyeing Heartland Brewery (17th/Union Square) for a pre-show gathering. Let's tentatively pencil it in for 6 p.m. and we'll confirm tomorrow.
- Somebody bought 10,000 S&P July 900 puts today.
- Does anybody else think it's REALLY annoying that your curser automatically defaults to the last IM that pops on the screen?
- Please take the time to stroll through Main Street. We've got some kick-ass tee's, fine art and delicious cookies. Also, if you haven't seen the all-star guitar, click here!
- Pressing (lower) and guessing (higher) is a recipe for whippage. Identify a strategy and when unsure, trade "in between."
- The breadth, while well off it's worst levels, is still leaning to the negative side.
- Minyan trivia: Principal Dick Vernon (Don't mess with the horns!) has been mentioned in these pages before. How? The first correct answer sent to firstname.lastname@example.org wins a free Minyanville tee!
position in spx, gs
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