- I know I'll catch heat on this one, but I can't endorse the Knick's latest deal....yet. IF (big if) Keith Van Horn toughens up, it has the potential to morph into a good trade. As it stands, he's too soft.
- Watch the VIX...if it trades at 20, it'll break a triple bottom in point & figure work.
- Where the heck does the demand from radishes come from? WHO likes radishes?
- The tone of the tape has firmed but the breadth is still urging caution.
- If wishes were knishes, I'd be 20 pounds heavier.
- The ability not to trade is as important as one's trading ability.
- The 50-day moving average (S&P 977) our first support, the recent range low (S&P 962) is the second support while S&P 950 is THE support. On the upside, S&P 1015 (recent high) is the first area of contention while S&P 1040 is the next resistance (trendline).
- This Amgen (AMGN:NASD) has more swings than a Hedonism vacation.
- Fed Governor Ben Bernanke was on the tape at 11am chatting up the risks of deflation.
- Gold has spiked through the magical $350 level (currently at $357) while the dollar is getting clipped for 1%.
- I haven't been able to wrestle out the alligators, but it sure does feel like an allocation is taking place.
- You can tell the sex of a horse by it's teeth. Most males have 40, females have 36.
- Watch the brokers as they try to sneak green.
- I'm seeing the underlying names better to buy and futures better for sale.
- November 12.
- The consensus from my contacts is that we're gonna see a stronger afternoon. The question remains whether it'll self-fulfill or the crowd will get caught leaning the wrong way.
- I miss John Candy.
- The OSX is sitting directly on it's 200-day moving average.
- You can do anything as long as you're disciplined.
- I've gotten a few emails asking me what would augment my big picture bearish thesis. The answer? Time, and lots of it.
- I fear the unemployment rate is going much higher.
- What's up? A chicken's ass when it eats.
- The most bullish elements today are the biotechs (held BBH 132) and the semicaps (holding firm). Watch both these sectors for signs of slippage/traction.
- Do the Q!
- Strange action thus far today.
- When the bottom (eventually) falls out of this market, it'll all seem so obvious.
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.
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