By Todd Harrison Sep 23, 2004 11:43 am
This is my kind of day!
- "Breadth and volume had turned in our indicator earlier in the week, while yesterday's weakness (the weakest day for the SPX in the last 20-days) turned momentum measures lower, thus generating a sell signal. That is the first signal since the buy in late May, and the first sell signal since the peak in equities back in January of this year." --Jeff DeGraaf of Lehman Brothers.
- It's good to see Jason Giambi rounding the bases again.
- Is it me or do most conversations these days revolve around politics and money? I was at a restaurant last night and had to listen to the (obviously inebriated) table next to me ramble on recklessly about the state of the union. It's very emotional out there--and the onus is on us not to let that emotion influence the financial decision making process.
- Congrats to Minyan Dan Meehan in front of his weekend nuptials.
- "We are ... facing new challenges such as rising steel, energy and health-care costs, and other factors that put additional pressure on the economic recovery, and on our margins," Steelcase Chief Executive James Hackett.
- I've got to think the KC Chiefs will put the hurt on the Texans this weekend.
- The longer we trade below the S&P 200-day, the better Boo feels about his prospects.
- Dr. Dots and Plots couldn't make our dinner last night and will be swinging by for lunch. Noice!
- Prayers to JR.
- Kopi Luwak is an ultra-expensive coffee made from beans that have been eaten and excreted by civet cats in Indonesia. A professor from the University of Guelph in Canada has published his research on how taste is affected by the beans' journey through the civet. First, the civet instinctively chooses only the ripest beans. Then, digestive biochemicals penetrate the outer layer of the bean as it passes through the gastrointestinal tract. Internal fermentation by digestive enzymes adds a unique flavor -- described as "earthy, musty, smooth and rich with jungle and chocolate undertones." (Montreal Gazette)
- The action today is (thus far) a push but if the GSE's continue to wheeze, it could tip the scales. Remember, the F-Troop has ties to most every major financial institution. If there's smoke....
- Does anybody believe that the Strategic Petroleum Reserve (SPR) tappage isn't a function of the polls?
- A few Minyans have asked about "stand-out" stocks that trade exceptionally dry (or heavy) in the face of currents the other way. There are two ways to interpret this action and the answer is subjective. Case in point, and for purposes of educational analysis, Lehman Brothers (LEH:NYSE). The stock ripped higher on Tuesday (on the heels of earnings) and continued its moxie yesterday while the rest of its brothers and sisters got thumped. The course of action, if any, is a function of your stylistic approach. Mo'mo players were likely buying the name as it turned up while the contrarians faded the jig (for downside ketchup). The "winner" will likely be a function of the overall tape action as the rising (or falling) tide will likely tip the scales.
- "Blood pressure, glucose levels and cholesterol are something that we should all have checked every year, especially those of us in these high-pressure professions. The treatments for any of these are very much like compound interest: simple to implement and tremendously powerful if applied relatively early in life."-- a thought from Minyan GT, who will be attending his father's funeral in a few hours.
- Take a moment to appreciate those you love and their health please.
- Is it too late to get involved in the GSE's? Ask yourself what your time frame is and how best to define your risk/reward dynamic.
- Good traders know how to make money. Great traders know how to take a loss.
- Two men and a woman, brought the corpse of Thozamile Patrick Apolis -- in a wheelchair -- into an FNB Provincial bank in Cape Town, South Africa. They attempted to withdraw his pension, signing for it by "helping" Apolis move his hand across the paper. A skeptical customer, who kept demanding that bank officials check for a pulse, scared off the three, who left the body behind. (Cape Times) R.P.
position in leh
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