By Todd Harrison Jul 23, 2003 11:53 am
- 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.
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