Prayers and white light to the folks down south
- It ain't pretty but we'll take it!
- Rita's Dance Card.
- I smell an endorsement deal with Carter-Wallace!
- Today's tape is hangin' in headlights as we turn to burn into the bell. I don't see a whole lot edgewise as our mainstay tells are fluxy and the action is more sector specific (energy and metals taking a breather).
- Bling from the Buzz:
Slingshot Sally is hanging onto the hope that the conditional elements are in place for a quarter-end Snapper. If you recall, her wish list included the following step function:
- Tape reacts negatively to the FMOC announcement
- Rita fears increase.
- SPX 1220 breaks but August lows hold
- Rita fears end up being over blown
- Tape slingshots to new highs in a frantic qtr end strive for performance
We're about 60% through that process although, to be fair, all the marbles are back-end loaded. And, to be fair, it seems that alotta folks are playing this way so the path of maximum frustration may prohibit the process. Just "see" all sides of the probability spectrum and define your risk--a meaty move is on its way and we should have a game plan in place to protect and collect.
- Can disasters be good for growth?
- Robert "Red Dye" Rubin was on the tape this morning offering that he sees the rising threat of fiscal disarray, a 'deep hole' of debt and a US economy that is on the 'wrong track.'
- Perspective directive.
- Is Alcoa (AA), which typically kicks off earnings season, kicking off preannouncement season instead?
- The metals, which began to smelt a bit yesterday, are spending another session dancing in Red Dye. The grabby greenback, meanwhile, is trying to edge through resistance at DXY 89.
- Jenny Craig meet Jose Cuervo!
- We're aware that the Buzz has been acting up of late and the critters are working around the clock to rectify the situation. On the heels of three flat tires and a stolen cell phone, it's really par for the course at this point. But you know what? It could be worse.
- With Rita bearing down and the weekend drawing near, please take the time to chime in on our precious attempt to help those in need. The top bid will win a date with Vittorio Emanuele II and 100% of the proceeds will be donated to the Ruby Peck Katrina relief effort. Thankyoueversomuch!
- Minyanfest in Manhattan! Toss Sunday, October 23 on your radar as we'll be hosting a Minyanfest in Manhattan. Nothing fancy-just some good ol' fashioned football, a few cool brews and vibe time with ye faithful. The value of our community is our community and these events are typically festive opportunities to build our collective network. Please let us know if you're a go!
- The IMF warns of $80 crude by Christmas.
- Mini-Minyan Mailbag: "Toddo, Please forgive my ignorance but what does this mean: 'NYMEX declares force majeure on Sept. gas delivery?' Minyan Neal"
NM--This means that those with NYMEX gas contracts are not forced to deliver the product because the refineries and/or pipelines are down. If this was not in force, those companies would be forced to go buy the product out in the market since they cannot deliver the physical product.
- General Hamzei will be hosting Frank Barbera, the founding member of the Gold & Silver Index (XAU) in his weekly chat after the close on Thursday, September 29th. Frank will address the current state of the Equity, Oil and Precious Metals Markets before taking questions from the participants. Click here to register.
- I have struggled with this decision but at the end of the day, I strive to practice what I preach. I'm planning on heading to Israel next week to spend the holidays with some close friends. As such, I will be sans 'Ville from Friday to Friday and humbly ask for your understanding as I try this "balance" thing.
- Fare ye well into the bell, Minyans, and send some white light to our friends down south. This is a tough time for alotta folks and we should remember that as we kick back and enjoy the weekend.
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 email@example.com.
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