By Todd Harrison Jul 27, 2004 11:51 am
Boredom is not an actionable catalyst!
- Has anyone ever seen Daisy and Matza Woman in the same room at the same time?
- The semis (-1.5%) remain the thorn in Hoofy's side although the brokers, biotechs, internets and Russell are shruggin' and huggin'.
- Vibes from the always insightful Phil Erlanger: "It's not a good thing when short selling intensity falls along with the market. Fear is the stuff of bull markets. Complacency at best is a marker for choppy, if not declining, markets. The sight of short sellers taking profits (covering their shorts) in a declining market is an ugly one. Short sellers typically get out too early. "Bottoms" typically are associated with excess short selling. We see no evidence of the latter at this time."
- Happy birthday to Minyan Orman Gee!
- That was a nice spot on the telecom traction by Mr. Collins on Friday.
- Breadth, while still positive, has moderated as we digest today's inputs.
- My mother and grandmother are visiting Ruby today. Please give him a kiss from his favorite grandson.
- At the Boca Greens Animal Hospital in Florida, Pumpkin -- a 12-pound Chihuahua - recently underwent liposuction surgery to remove 12 ounces of unsightly fat. A hospital spokesman hastened to note that surgery should not be a substitute for sensible exercise and a modest number of treats, reports the Palm Beach Post. Somebody tell Phoebe!
- The dollar is grabbin' some greenback as it used the 50-/200-day crossover as a launch pad. The relative jig is pressuring the metals, which have now given back earlier gains and testing recent support.
- Welcome Minyan Bernie Schaeffer!
- It's unfortunate that most people root for folks to fail. The world would be a much better place if they just focused on making themselves better.
- Minyan Jeff Saut--as sharp a cookie as you'll find on the Street--has been tactically trading the '04 range like a concerto pianist. That stylistic approach (selling range tops, buying range bottoms) has been the money trade. In his morning note yesterday, Jeff offered a more constructive stance (trading from the long side) and is closely watching the trannies vis a vis the Dow Jones (for a positive divergence). With this in mind, please remember that he views the economy as "muddled" with a bevy of potential potholes coming home to roost (stock option expensing, under-funded pensions, fallacious pension plan return assumptions, energy squeeze, et al). Thanks for sharing Jeff!
- I'm a trader, not a salesman, so please know that if I didn't think Minyans in the Mountains would be a huge upside surprise, I wouldn't continue to put it in front of you. If nothing else (and there will be plenty else), we'll have a few days to vibe with the Minyan family, kick around thoughts and ideas and breathe some fresh air. Noice!
- Ay caramba!
- Fidel Cueva, 41, survived with only scrapes and bruises after he bailed out of the emergency window of a Greyhound bus, at 55 mph, in the fast lane of California's 101 freeway at rush hour because the bus, an "express," had just bypassed his stop. [Sacramento Bee]
- Why are the metals lower? The higher dollar. Now why is the dollar higher?
- Going seven days without reading Minyanville makes one weak.
- I don't have an eating disorder, I have a consumption issue.
- Yes, Ricky Williams' timing sucked (right before training camp). Still, life is too short to spend your days doing something you hate.
- La rebond mort de chat?
- Minyans attending the Mountainfest, please remember to bring your gloves as we're gonna have a rather intense softball game Friday afternoon.
- Please mind the gaps from the opening jig.
- I said at the beginning of the year that I felt the Minx had risk INTO the election as so many people were trading with that imbedded put option. There will be thrills and spills from now till then but I don't see any reason to alter that view.
- From October through mid-July, the Transportation Safety Administration deposited $250,436.65 in loose change left at airport screening checkpoints into the federal government's general fund.
- John Succo's nephew, Joe Carroll, and his fellow Army Ranger Justin Norris are in the 'Ville and sitting with our options maven. They just returned from four months of active duty in Iraq and will be returning in one month. I will have the privilege of dining with the Succo clan this week but wanted to take a moment and officially salute them on the 'Ville. Regardless of your views about the war, we owe a huge debt to the men and women who sacrifice themselves for our country.
- Volume is muted. If the flicks were ticking any slower, they'd be going in reverse.
- Fixed income is getting smacked today.
- Hey now, HEY NOW, hey now, HEY NOW, Aiko Aiko a nay...
- The BKX just edged into the crimson.
- The Oakland Raiders sold more beer at their home games last season than any other team. New England was second, Green Bay third and Dallas was fourth. Shocker, I know.
No positions in stocks mentioned.
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