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Random Thoughts


Can you guess the date that energy recaptures the top weighting in the S&P.

  • It's hard to adequately explain how proud I am of my mother. Not due to our genetic bond, but simply because she's so darn talented. I encourage all Minyans to take a gander at her wares and, if you dig it, splurge for that special someone. Her work has a slew of soul and it's already making a splash in Hollywood. Noice.

  • I concentrated my recent buy-side try in the metal arena and, as the XAU was up 10% from Monday's low (I didn't catch it all), I punted the trading portion of my precious exposure. I've kept my longer-term holdings (including some Golden Star (GSS)) but, as we're apt to say, trades are made to be taken.

  • I also added to my spate of piggy puts (autumn downsides in the financials) as the BKX stochastics stretch into overbought territory.

  • Man, I remember when a receding hairline was my biggest concern. Now I know I'm getting old!

  • Dink, Dink, Dink, Dink...the following instant message exchange took place between 9:00 AM and 10:00 AM...

    Reamer: Nice article this morning. You know how I feel about correlations between asset classes, but...!!!
    Toddo: Wait, you don't agree? I thought we were on same page on this.
    Reamer: No no...I like the macro call - deflation of assets or hyperinflation of the dollar (which, parenthetically increases interest rates and then deflates assets). I just have never liked the gold goes up BECAUSE dollar goes down idea. There is simply no empirical data nor theoretical reason for it.
    Toddo: My thought isn't that simplistic--I actually think it's Fed publishing to reflate which dilutes the value of the dollar. M3 anyone?
    Scotto: Indeed. Looking forward to the macro panel!

  • I'm watching breadth like a hawk (dove?) on this pullback. Thus far, the old school internals are sticky green at 9:5.

  • We eyeballed the stealth all-time high in the XOI yesterday on its way to top dog status in the S&P. Exxon Mobil, which is 7.5% of the index, delivered eye-popping results this morning ($10,300,000,000 net revs on $99,000,000,000 total revs!) and that's helping to extend the energy patch gains. I'll offer one dollar (our regular bet, Mortimer) to the first Minyan that can guess the date that energy recaptures the top weighting in the S&P.

  • What's the record for Cold-Eze consumption in an hour?

  • "Boston Scientific (BSX) reported pretty good numbers, but the charge-off for the acquisition of Guidant was larger than expected. If you recall, our stance was they paid way too much for this company. Back then the stock was $26 and almost every analyst loved it. Now at $17 no one likes it anymore. Those analysts were downgrading the stock when it hit $15.50. Typical. At these stock levels there is now quite a bit of bad news baked into the stock. We are fine with it here but think it will take time to see how things play out. It looks to be basing. Several market observers are pointing to the sub-par volume of late (during this recent rally). True dat, although I don't know whether its simply a function of vacation season." John Succo on today's Buzz (position in bsx)

  • I continue to dribble between hoops and dodgeball but I gotta be honest, I'm not sure I wanna be anywhere near the dodgeball court! Maybe I'll just leave that in White's hands?

  • Hey, you know what? It could be worse.

  • R.P.
Position in metals, gss, financials

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

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.

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