By Todd Harrison Aug 11, 2004 11:57 am
What does crude have to do with technology inventories?
- Next time you're at a wedding, stay away from the Chianti and fava beans.
- We've discussed the importance of crude to the psychology of the markets and that dynamic remains in play. After some troubling Yukos news this morning, Saudi Arabia stepped in to assure us that they can pick up the slack. Crude futes got nailed for a deuce (2%) and that coincided with the equity traction.
- The metals failed miserably at yesterday's resistance. Gold is down a finski and silver is gettin' thumped for 3% (despite the dollar being relatively stable). Silver $6.50 "should" act as a support.
- The key to longevity in this business is moderation. Don't let yourself get too high when you win or too low when you lose.
- The biotechs flipped green early this morning and have been grinding higher since. If this complex trades dry in the face of supply, chances are they'll lead the Snapper IF (big if) he shows up.
- My good friend Spitz--whose offices were in the first tower--is having his annual golf outing soon. It promises to be a star-studded affair and I gotta put it in front of ye faithful.
- Long Mandy short Sandy on a pairs trade.
- The VXO (volatility index) is up 8%. My vols have vol!
- Mountain Dew has orange juice in it?
- I'll just take my coffee black, thank you.
- The drugs have been under accumulation all day. That explains Fester's lethargy!
- Hoofy keeps mumbling something about stochastic buy signals and Boo threw a bag of pretzels at him.
- Scotto informs me that he's got a fire pit in his back yard and we'll be busting out the mega-smores! That may also be a good venue to "spill the beans."
- Gap fillage to S&P 1080 again? Or too cute?
- I would love to see a movie starring John Belushi, John Candy and Chris Farley.
- Red Bull is an oxymoron.
- Finland has more than 2 million saunas for a population of 5 million. Schvitz City!
- You don't learn from your successes, you learn from your failures.
- Welcome Gregg Ettin!
- From my awesome pal Snoop Tony Dwyer "In January, we published a note suggesting caution (wish we stayed with that one) because the earnings and economic news, election process and political outlook were terrific while the indices and stock charts looked fantastic so most things seemed to be about as good as it gets. That was near the peak. After recent earnings statements, economic releases, jump in oil, higher interest rates and terrorism fears surrounding summer games and U.S. elections coupled with every index and stock breaking support, it seems to be the opposite environment."
- I guess my Raiders aren't playing in Mile High this year?
- S's over N's.
- Hump? What Hump?
- This is so Phoebe.
- Breadth stinks like a dead squirrel but is well off its worst levels.
- Vegas odds are currently 5 to 1 that Collins doesn't get to first base in Crested Butte (3 to 1 if you're talking about the softball game)
- Are you always too long when the screens are red but not long enough when the screens are green? Don't adjust your computers...adjust your attitude.
- The internets trade surprisingly dry.
- Hey Snoop Tone--Daisy asked me to remind you to bring your pup tent to the camp grounds!
No positions in stocks mentioned.
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