By Todd Harrison Jul 26, 2004 11:57 am
Rumors of my death have been greatly exagerated!
- Does anybody really get cold feet when they're nervous?
- Minyan John Roque, who has been spot on in his view, continues to believe that S&P 1050 is a likely area of migration.
- Mother Fokker.
- Breadth has now migrated to a 2:1 negative stance.
- Some folks "get" Minyanville and others never will. That's just the way it is.
- The internets and biotechs thus far trade draggy and I'm watching eBay (EBAY:NASD) as my master beta proxy. The stock got smacked on earnings, dutifully filled the upside gap and has been migrating lower since.
- Joe Namath musta had a heckuva time running around NYC in his day.
- The cyclicals, emboldened by Int'l Paper (IP:NYSE) earnings and an upgrade in United Technologies (UTX:NYSE), hold a relative bid. It should be noted that the 200-day (CYC 662) rests below while the right shoulder (CYC 673) should provide resistance above.
- A sign of things to come?
- The mechanics of the swing are more important than the results of the at-bat. In other words, it's uber-important to identify a stylistic approach that allows you to manage your risk accordingly. Good trades will come and go--but the bad trades will knock you out unless you apply the right tactical approach.
- Silver, down 2% on the session, is once again testing the 200-day moving average.
- Minyan material.
- The NDX has now made a new intraday low for the year and that's freaking some folks out. Please keep the Iron Horse's thought in mind if you're trading these levels.
- Minyan David Collon will be running this year's Chicago marathon in a critter tee. Noice!
- A slew of financials remains dry with the notable exception of Citigroup (C:NYSE). We must respect the action as the financials will ultimately tell the tale.
- Ricky Williams surely has his reasons and I, for one, respect his decision.
- Minyans in the Mountains is less than a month away. Get psyched!
- The VXO, up 5%, is still a ways away from the fear we saw when we last tested these levels.
- When in doubt, trade "in between" or smaller. Pressing bad bets is the surest way to dig a deeper hole.
- On a housekeeping note, we will be moving the Minyanville digs Friday starting at 2pm. Also, and just so you know, I'll be traveling to the left coast next Tuesday for some critter business and taking the red eye back on Wednesday night. Thank you in advance for understanding the time constraints as we forge ahead.
- How much of today's lethargy is related to angst in front of the Democratic Nat'l Convention. And, if that's a root cause, why don't the metals trade firmer?
- I'm long mayonnaise and short ketchup on a pairs trade.
- I opined in the Buzz that I thought a Snapper would precede Boo's screw. So far, that's not looking like the snazziest of thoughts.
- Hey Boston fans...it's July!
- Emotion is the enemy when trading.
- Intel (INTC:NASD) hangs tough in the face of SOX slippage.
- Nothing beats spending time with the family. Nothing.
- Has the big picture finally come into focus?
- Leave...the kid....alone.
- Never lose your sense of humor.
- Market feels, like anything else, are cyclical. That's why the "know thyself" rule is so important. Press when you're ahead and pull back when you're flying blind.
- Minyan man? Oy vey is meir!
position in c, silver
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