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Random Thoughts

By

Even a broken clock is right twice a day!

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  • Hunters and gatherers.

  • "Consensus Inc. data supports our energy concern as oil bulls now stand at an elevated 78%. That is not the highest number seen in the data, but it's consistent with other data (Rydex) suggesting that the speculative $ is focused on Energy. As for stocks, Consensus data has also deteriorated to levels last seen at the end of 2004 and the end of 2003 (both periods resulting in consolidations). Momentum is still positive for stocks, but sentiment is the largest impediment at this point." -- Lehman's aptly named technician Jeff DeGraaf

  • All eyes on Elmer!

  • Succo saw the seeds being sowed in Norwood. Weeds are starting to sprout everywhere.

  • "Internally, seeing more net new sell signals than buy signals for the first time in six trading sessions today on the NYSE, and for the first time in more than 10 sessions for the Nasdaq." -- Pepe Depew on today's Buzz.

  • The semis, biotechs, brokers, trannies, small caps and retail all trade fugly while energy and metals again stand tall. That's entirely consistent with my big picture vibe but it's not the stuff that strong tapes are made of.

  • Putter? I don't even...

  • The good Doctor gets his due.

  • For all those Minyans heading to the Mountains, we'll be offering "An afternoon with Tom Demark" on Friday and Saturday. His work is fascinating and based on the conversations that I've had with him of late, the timing of some tutorials couldn't be better.

  • "Yesterday the proprietary put/call ratio issued by the ISE exchange closed at 2.72, which means that traders on that exchange bought more than 272 calls for every 100 puts. That was the highest reading so far this year - in fact, it was the 4th highest reading in the history of their data. Looking at the other truly extreme readings, whatever gains the broader market made in the short-term were reversed relatively quickly, suggesting this bout of optimism by traders is a warning shot for the bulls. The data could have been skewed by trading in one or two outlier stocks, but I could not find anything so outstanding that it skewed the ratio greatly." -- Jason Goepfert on today's Buzz.

  • The difference between legitimate economic growth and debt-induced largesse may not matter to the bottom line but it surely shifts the shape of the future landscape.

  • I've found that 2:1 breadth wire-to-wire is a great guide. The longer we sit with this posture, the better it is for Boo.

  • We had alotta these at Syracuse University!

  • "Toddo-this week and next will be the most active in IPO's we've seen all year." Minyan Sal Morreale (noting some looming supply)

  • Please, Macke, we need a different photo for the MiM2 program guide!

  • T-minus 13 days until the Minyan vision comes to life!

  • Just be yourself sir-no matter what happens, they can't take that away from you!


    R.P.
No positions in stocks mentioned.

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 todd@minyanville.com.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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