By Todd Harrison Sep 13, 2005 12:11 pm
- "...We also figured, like God, that this group is due for a rest. Please know that we didn't say trend reversal, we merely said rest. In addition, we're not making the comparison here between energy and tech's blowoff in '99/'00 because we believe that commodity related stocks, after enduring a long time of famine in the wilderness, will be the market leaders through the end of the decade. We're just looking for these stocks to rest." -- Uber-Minyan John Roque, sharing some thoughts on the energy patch.
- As discussed in Ojai, my vibes jibe with the talented Mr. Roque.
- The combination of looming resistance and fugly internals is keeping today's ball in Boo's court.
- Free screws with every hammer?
- The metals aren't so precious this morning as gold is off a finski ($5) and silver is down 1.5%. The XAU (-1.5%), for all you jitterbugs, should find initial support at 100 (previous August high).
- Snaps to Television's JeffMacke for some excellent real-time educational vibes in Best Buy (BBY).
- Similar kudos to Professor Vitaliy Katsenelson for his recent "Da! Da!" on Nokia (NOK).
"Hate put me in prison. Love's gonna bust me out." -Rubin "Hurricane" Carter
The Ruby Peck Foundation continues its drive to help those suffering in the wake of Hurricane Katrina. Minyans who would like to help us make a difference can securely do so online or send a check to:
The Ruby Peck Foundation for Children's Education
c/o Minyanville Publishing & Multimedia, LLC
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As my grandfather Ruby used to say, "Thank you ever so much!"
- Minyan Mike Shedlock weighs in on subprime margins.
- Our town. Is a very, very, very fine town.
- Keeping tabs on the collective psychology.
- Hoofy just noted the gap fillage in the S&P (Friday's open) and I'll give him that. However, with NYSE breadth 3:1 negative and both the banks and brokers dancing in Red Dye (note BKX 98), my sense is that he'll have to firm up this squirm if he wants to avoid shaking the quarter-end tree.
- Bill Withers never got the snaps he deserved.
- Keep an eye on crude as it flirts with the flat line (after trading higher all morning).
- I'll be joining Minyan Bob Brooks on The Prudent Money Show tonight at 6:00 EST. Mama always said I've got a face for radio!
- Answers I'd Really Like to Know...
- Does anyone really think that Elmer won't hike at the next FOMC meeting?
- Do you see the N's over S's (Red Dye style).
- Can Snapper circle his troops after the gap fillage? (Watch S&P 1232.)
- Do we buy Rosh Hashana and sell Yom Kippor or is it the other way around?
- Is the degree of drip in Best Buy (-10%) indicative of the lopsided lean? (Keep in mind that we just started pre-announcement season.)
- What would you like to see on the new and improved Minyanville?
- Will anyone else miss the Yankees in October?
- Ophelia. My sweet Ophelia.
- Where's Laurie?
- If it all fell to pieces tomorrow, would everyone you love know exactly how you feel?
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