Pinch-hit Random Thoughts
- The NDX took a close look at 1580 this morning (a point & figure triple top on a 20x3 longer-term scale) and decided against it.
- The latest scuttlebutt from The Scuttlebutt Gentleman's Club.
- This morning a number of employees of one of GE's financial entertainment units expressed shock, SHOCK! at the stock's price action following this morning's earnings (GE is currently down about 1%). As a useful exercise, take a look at GE earnings releases between August 2000 and August 2002 as the stock fell from 60 to 25.
- This should have Meehan doing a tap dance... literally.
- Note that the XAU broke a double bottom today, a new sell signal, and that index's first since April. The next important level of support on a 1x3 point & figure chart is in the 85 area.
- Seven donkeys and a concubine cannot compare with the tarnished sheen left in your path of combustion.
- Last night I bought an eight-pack of BreathSavers breath mints. The back of the package says they fight bad breath for up to three-hours. So I ate all of them at once this morning. Three hours times eight breath mints? I figure I'm set for the day.
- From Professor Kenny G on this morning's Buzz: Here are some numbers for you small cap players. Of the 600 names that make up the S&P 600 here are yesterday's moves. Notice over 224 stocks in the S&P 600 had a down 1% or more move in comparison to 81 on the rise.
- There is no better barbecue than this. Period. But we will be happy to test any you send us.
- Maybe one of the best players you've almost never read about?
- From UBS Minyan Greg Ehlers this morning: "Breadth has been negative on NYSE the last two days due to the action in small caps, and that is where one has to focus today for the direction period. Sentiment can shift like it has, but without the negative breadth, the market will not close lower. Realize the last two days breadth on the NYSE has been negative and SPX has closed higher. That divergence is getting a lot of focus today. "
- Pure class.
- If you have someone randomly choose a number between one and ten, 70% of the time that number will be 7. Try it.
- Only 60% percent of the stocks that comprise the Dow are on point & figure buy signals, absolutely unchanged since last Friday even though that index is up a little more than 3% since that time.
- From the Where are they now? Department: The original Charlie from Willy Wonka. But forget him. What I want to know is what happened to the original Veruca Salt. I was eight or nine when I saw the original Willy Wonka and man she was something else; sassy, loaded, opinionated, ambitious. Hillary Clinton's kinda got a Veruca Salt thing going on when you think about it.
- Note to self: some things should only be written for your internal monologue.
- What's with that whole Johnny Depp/Michael Jackson thing in the Willy Wonka remake anyway?
- T-minus three days till the worm is gone to the early bird. We hope you join us for the Sundance of Finance at Ojai.
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.
Daily Recap Newsletter