More Random Thoughts!
It's the end of the world as we know it....
- Best guess? If Elmer leaves rates unchanged, equities get slaughtered. If he hikes 50 bips, I think we ramp (after a head fake lower). 25 bips and "measured" vernacular? Not sure--but it'll likely be whippy and I would "think" the bulls would try to trade with the argument that the "big bad event" is over.
- A 45-year-old television cameraman was struck and killed by a car at a dangerous Omaha, Neb., intersection while he was working on a story about how dangerous the intersection is. [CNN-AP]
- BKX 96ish remains the uber-important support while BKX 98ish is the mirror image resistance.
- What's the point of getting SPAM about stopping SPAM?
- Silver just got thumped for 4% (from its high) and is starting to cast an eye towards uber-support at $6.50. I have a small short side position in the white lightening (leaned against $6) and have rolled my stops down in kind. If (when) they trigger, I will cover up as this was and is a pure trade.
- Fantastic news! Rich Gula, who heads Argyle Investments LLC and is the former director of technical analysis with Fidelity Management Research, is the newest professor in the 'Ville. Rich is a super guy who fully sees our mission of financial literacy and is (almost) as excited as we are about his arrival. Further, Rich will be presenting at the Minyans in the Mountains retreat in Crested Butte Colorado in August. I'm tellin ya--there's milk everywhere!
- It's hard to feel sorry for the Lakers. Just as I'm sure it would be hard (for some) to be sorry if the Yankees entered a rebuilding cycle.
- If you wanna earn while you learn as a Minyan ambassador, let us know!
- Will the sluggish retailers (and fugly Chicago PMI) plant a stagflation seed?
- Look... me and the McDonald's people got this little misunderstanding. See, they're McDonald's... I'm McDowell's. They got the Golden Arches, mine is the Golden Arcs. They got the Big Mac, I got the Big Mick. We both got two all-beef patties, special sauce, lettuce, cheese, pickles and onions, but their buns have sesame seeds. My buns have no seeds.
- Are too many closet technicians playing the acne?
- If the trannies hold their breakout level, look for support no lower than TRAN 3090.
- LIMITS ON YOUR ORDERS!
- This will be my last News & Views column of the session as I've gotta crack my knuckles, sharpen my pencil and put together a solid first effort for our friends at CBS MarketWatch (posts tomorrow morning). It'll be available to all Minyans, naturally, and I thank you in advance for your understanding!
- I still think crude eventually trades through $50 but it can certainly retrench further first.
- I gave Collins snaps for his efforts on the Buzz and I should give him snaps for his News & Views vibe too.
- They picked a heckuva day to beta test my new systems. Yeesh!
- I will try and chime in on the Buzz but if I don't talk to you, fare ye well into the bell and have a peaceful and safe evening.
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.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
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