By Todd Harrison Jul 31, 2003 10:18 am
Hey Hoofs, while you're puckered up...
- I read the Gruden interview in Playboy and while I'd love to hate him, I really can't. I mean, honestly, the guy quoted Uncle Buck!
- There are so many variant views regarding the future path of the market. The one's that are "working now" are always the loudest. When you're listening however, make sure you hear both messages.
- Why is the news always worse at the bottom and best at the top? By the time everyone "gets it," it's already discounted by the financial markets.
- Oprah as the #1 icon? Pah-leeze!
- The Minx has ripped, dripped, ripped, dripped, ripped, dripped....you get the idea. If you were a half a step slow and tried to trade it, there was real whip creamed potential
- A real-time example of a pairs trade: Looking through the financial sector, I came across the charts of Bear Stearns (BSC:NYSE) and Goldman Sachs (GS:NYSE). The former is oversold, sitting on the 200-day moving average and has a strong clearing business. The latter is relatively extended, has three "lower highs" and more bond exposure. My vehicles were the BSC August 65 calls and GS August 90 puts. Nothing crazy, just a schnitzel...and please remember, this is NOT advice--I am simply sharing a trading example with educational intentions.
- If you try to fail, and succeed, which have you done?
- The specialty pharmas are getting woofed.
- Call me crazy--but the dealers I talk to, haven't seen the buyers yet.
- What was the best thing before sliced bread?
- If you're a bear, you can "lean" against either S&P 1000 or S&P 1015. If you're a bull, you can lean against either S&P 984 or NDX 1265ish.
- How do deer know to cross the road only at those yellow signs?
- The last three football seasons have been the definition of frustration for my beloved Raiders. First, Siragusa pancaked Gannon in the A.F.C championship, then the zebras stole the A.F.C title and handed it to the Pats. After finally getting to their first Super Bowl in 19 years, they were buzz sawed by Chucky's revenge. Is this the year they finally get over the hump? It better be...because the next rebuilding cycle is going to be painful.
- Watch $350 as gold support (past resistance).
- The indices are now filling the morning gap. Watch for signs of traction/slippage once that's done.
- I've got a fairly hairy afternoon (and am out manyana) but I'll try to sneak a final post to ye faithful Minyans.
- We welcome constructive criticism at Minyanville. What can we be doing better? What annoys you the most? Which is your favorite tee, cookie or artwork? Let us know!
- Trade Charles Woodson
position in gs, bsc, spx
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