By Todd Harrison Jun 07, 2004 11:52 am
Keep an eye on that quack count, Boo, and don't trade stubborn!
- Is this the Smarty Jones tape today?
- It will be a sad day in the Bronx if the Boss ever sells the naming rights to Yankee Stadium
- For what it's worth--and it may not be much--my trusty stochastics are firmly in "red zone" territory in the S&P, NDX (crossed last week), BKX, trannies and the Russell 2000. The consumers and cyclicals, while pixels away, aren't there yet. Timing mechanism? Not on a bet, Bonzo, but certainly something to factor into the mix.
- Despite the 39-day waiting list for brain operations at the Queens Medical Center in Nottingham, England, the hospital suspended neurosurgeon Terence Hope in March (after 18 years' service), not for substandard work but because he had been accused of taking extra croutons for his soup in the hospital cafeteria, without paying. [Daily Telegraph - London 3-25-04]
- Do you remember when you used to play Monopoly and you were the banker? You could dole out as much money as you wanted and set the tone of the entire game.
- "The seasonal period can no longer be an excuse for market weakness. Given the (almost wildly) bullish data that came out last week, one has to wonder what the bulls are waiting for. Our suspicion is that they are waiting for others to bid the price of their shares higher so they can sell. The big goose-egg last week was the performance of the NASDAQ market, which ended the week in decline." -Phil Erlanger in his always interesting morning missive.
- Thurman Munson--my all-time favorite Yankee--died as a 32 yr old father of three and captain of the World Champion Yankees. There's a lesson in that.
- There isn't much in the way of market moving catalysts this week. That'll leave our collective fortunes in the hands of the technical and psychology metric.
- This is gonna be an uber-busy meeting week for yours truly (something new and different!). Thanks in advance for your understanding as we continue to take steps to make Minyanville a more effective and enjoyable educational experience. Take me at my word--you'll see what I'm talking about soon enough. But you may have to wait until after lunch--I've got a biggie at noon.
- Some people are pointing to reverse dandruff in the BKX (three month chart). Perhaps--but that's the slantiest head I've ever seen!
- I finally watched The Cooler yesterday. What a feel good flick--NOT!
- The dollar continues to edge lower as the DXY tickles 88. As a point of reference and perspective, the '04 lows rest around 84.5ish.
- Breadth continues to impress but volume remains suppressed.
- "Ah... well, you go out there and you give a 110%, and you wanna play good, and... you know... you hope you play good... I think we played pretty good tonight!" Elliot Richards.
- Watch the internets--they've struggled thus far and remain a potential fly on the rally ointment.
- Rest in Peace Ronald Reagan. And rest easy Nancy--your spirit, love and devotion are an inspiration to us all.
- We've been watching trannies as they poke through the 3000 level (positive). Please note that TRAN 3090 is the '04 high.
- I, for one, am thrilled for the new professors who are joining the 'Ville. I trust that you'll find them immediately accretive to the Minyan proposition.
- What's up? A chicken's tail when it eats!
- SOX 486 is the 200-day moving average (where we failed the last time).
- Please be aware of the shift in the derivative pricing dynamic (theta) as a function of the newly announced three day weekend.
- When in doubt, sit it out and await to identify your edge.
- Daisy and Hawaiian Tropic. Aloha Mr. Hand!
No positions in stocks mentioned.
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