More Random Thoughts!
By Todd Harrison Jun 30, 2004 1:58 pm
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.
position in silver
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