By Todd Harrison Jul 07, 2004 12:11 pm
When in doubt, wait it out!
- Has anybody ever really felt oats?
- I am independently minded these days but the Kerry/Edwards ticket reminded me of conversations past.
- Dell swell?
- The metals are jiggin' higher as gold and silver push back through their 200-day moving averages. I'm carefully eyeing DXY 88 (dollar index) as it broke this morning and has lent a bid to alternative currencies. Gold $405 and silver $6.20 are the next technical resistance levels.
- A Pampa, Texas couple has named their son ESPN Malachi McCall. He's now 2 years old, and ESPN (the network)-just caught wind of it and is planning a feature on ESPN (the kid.) ESPN [kiddo] is not alone. There are at least two other kids in the United States who share this name. "We don't have viewers. We have fans," an ESPN (TV) spokesman stated to the Associated Press. "And I guess there's no better testament than when someone names their child after your product. It just shows the bond we have with people." The mother of ESPN (the boy) said, "I didn't like it until he was born," adding that now she couldn't think of calling her son anything else. [Associated Press]
- The stochastics in the semis and brokers are both in "positive" territory. Citigroup (C:NYSE) stochastics have also "hooked" positive near uber-support ($45)
- Alcoa (AA:NYSE) and Yahoo! (YHOO:NASD)--old school and new tool--will offer up their state of affairs tonight. So will Genentech (DNA:NASD), which accounts for 6% of the BTK index.
- Patience is the common denominator of profitable performance.
- Lehman's aptly named technical analyst Jeff DeGraff offered in his morning missive that "the key levels that would be unmistakably bearish from a technical standpoint are S&P 1080 and NASDAQ 1870. These are the support points from May that served as a fairly decent floor. Under those support levels and the last 6-months of trading must be considered a top formation, and the resumption of the bear."
- I read "Bringing down the House" over the weekend and very much enjoyed it.
- "Hey mon, nobody told you? Your flight has been delayed for seven hours. Have a nice day!" (If I knew then what I know now, I would have gladly taken seven hours!)
- But they SAID things were getting better!
- Take my wife, please!
- Minyan Harrison?
- Morgan Stanley's technical analyst Mark Newton issued a report this morning entitled "Equity Indices Break Support." He opines that if the week ends at current levels, it would confirm a weekly Nasdaq and S&P sequential sell signal.
- Lighten up Francis.
- Wanna talk tape and network with Minyanville's finest? Come join us in Crested Butte for the upcoming Minyans in the Mountains retreat! I will ask that any softball 'ringers' give me an online wink before we get there. ;-)
- There is something to be said for the simple life. I spent some time with native Jamaicans--those that live in a sandy shack on the beach and eat what they kill--I came to see that they couldn't be at all happier with their existence. I wonder if the critters could acclimate?
- BKX 96 is now resistance.
- Is this move in the metals an opportunity to make sales? The answer to that prolly is a function of your time horizon. I will offer three thoughts: 1) Recall Scotto's vibes on the HUI. 2) I continue to feel that they offer a viable long term alternative to a devalued dollar. 3) I believe that the near-term price action is liquidity driven (Carrie).
No positions in stocks mentioned.
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