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Random Thoughts!

By

Buy Dr. J a brewski at Wrigley for Collins...

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  • A few years ago, I opined that-if I had the patience-I would buy energy and metals, short tech and financials and open a taco shack in the Caribbean. I think that trade has room to run for years to come although it'll likely get choppy and sloppy at times.

  • This gives new meaning to "the land down under."


  • No rest for the weary as Team Minyan hops a flight to Miami Beach, er, Chicago tonight for the Trader's Expo (I'll be scribin' tomorrow from MKHQ (Mark Kellner Headquarters) and hitting the show Wednesday night through Saturday). And, of course, we're hosting a Gibson's Gaggle Thursday at 6pm with General Fari, Doctor J, President Fish, Professor "Rollin' with tha" Roney and some surprise special guests!

  • Raaaaaaid! Checking in at the Roach Motel.

  • If you're bearish, just have patience.

  • Here's a fragrance that's here to stay and they call it, Hussman!

  • "What to do with the SOX? The cold reality for the technician is that breakouts have been of marginal utility over the last 2 years. During some phases they work, in others, they falter. One of the key components we have been trying to exploit with the breakout is the attitude enveloping the security as it breaks out. Too many bulls, and the breakout is likely to have been discounted; indifference or incredulousness surrounding the breakout, and its ability to persist tends to improve. With the SOX at 451, it is within striking distance of breaking out. It does carry the most optimism within Technology, BUT Technology in general still appears to offer little inspiration to the average PM or investor. I suspect the SOX breaks out and rallies into the 477 level and starts to fade. It's a good chart and I believe it is basing, as for sentiment, I suspect there will be opportunities to zig, while the majority is zagging." -- Lehman sage Jeff DeGraaf

  • It's Snowing in Canada, eh?

  • Kinda hip, kinda wow-Hussman!

  • After the raid, Phoebe and Zoë escaped from the orgy and found their way back to NYC.

  • Weekdays with Bernie.

  • "Once again yesterday we saw heavy option selling. The source is of course the new funds set up to generate "income" through strategic selling of options. From this over-supply of options we are seeing index options, specifically QQQQ options, priced at implied volatilities below the actual volatility that the index is trading at. This has not been the norm for as long as I can remember. Normally, index options trade at higher implied volatilities than actual reflecting demand from hedgers who "worry" about the market. Obviously no one is worrying." -- John Succo on today's Buzz.

  • Trimming the hedges?

  • Happy 40th Birthday to Professor Laurie McGuirk and Minyan Adam Warner!

  • Heads up Hoofy!

  • Look at me, the CRB! After a sharp head-fake lower, the commodity index is probing multiple tops at 313. If (big if) this is a proxy for liquidity (as opposed to, cough, a recipe for stagflation), it will be waxed bullish by the Matador Crowd.

  • But isn't it truuuuuuuue, Professor Fleckenstein?

  • Kinda free, kinda now-Hussman!

  • After the "Euro-based migration" (into the greenback), the "reflation or devaluation" dynamic seems to be emerging anew. I continue to think we (Elmer) must choose between the two until someone else (foreigners) balk.

  • Oh, the irony!

  • "Flextronics (FLEX) saw unusual call activity as 16,280 calls traded on Monday versus the ten day average of 572. Short selling is above average at 89% and a squeeze could be forthcoming. Today so far 1,830 calls have traded. Earnings are due at the end of July." -- Phil Erlanger on today's Buzz.

  • The gold scold!

  • There is a huge difference between faith and hope.

  • Troop Reduction?

  • Dude, we're putting the band back together! Check out the crew we have circled for the Saturday Night Red Barn Blowout at Minyans in the Mountains! (And yes, Hoofy, we'll have a mechanical bull too!)


    R.P.
No positions in stocks mentioned.

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 todd@minyanville.com.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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