More Random Thoughts!
By Todd Harrison Sep 24, 2004 12:50 pm
Fare ye well into the bell!
- A Face-off in hockey used to be called a "puck-off" but was changed for obvious reasons.
- Over the last week or so, we've seen a gorilla buying a ton of far out-of-the-money December S&P 500 calls -- today he (or she) bought 10,000 Dec 1215, yesterday did 10,000 Dec 1215 and last week he (or she) bought 10 to 15,000 Dec 1250 calls every day. Not sure what he (or she) is seeing, thinking or doing--perhaps a short side hedge or it's vs. "off board paper" but I wanted to make sure ye faithful saw it.
- The VXO (volatility index) is off 4% and edging back towards Bar Mitzvah levels.
- Mean Jeanne is headin' your way, Dorothy--please be safe.
- Minyanville welcomes Steve Shobin to the fold. Steve, please know that the content is a bit lax today as many of our professors are otherwise occupied. I would point you to some recent writings for a fuller flavor. Mr. Succo on derivatives , Scotto Reamer on technical analysis and his big picture flava , the horse (of course), sir Fleck , Laurie from down under , Mr. Miller , Rich Gula , Neal Dingmann , Greg Weldon , Jason Roney , Tickle me Tuttle and, for better or for worse, some non-random stuff from yours truly.
- Ice, Ice Baby...
- An easy fast for all those observing. An awesome weekend for those who are not.
- The N's over S's quickly flipped after a negative Gartner Group vibe on the semis.
- The metals, after a strong showing the past few days, found supply earlier this morning.
- Money, get back. I'm all right jack keep your hands off of my stack.
- Richie Rich!
- Keep an eye on Citigroup (C:NYSE). The stochastics that I monitor are now migrating around the "buy zone" (not a timing instrument) after this week's 7% smackage. $43ish is a level that's held since June 2003 and the bulls will likely circle their wagons there.
- The RTH (retail holders) are back above their 200-day moving average.
- I just prefer some plain vanilla yoga!
- The homies ain't playing (so far) today. I'm not sure if this is a "what if" reaction to Father Fannie (FNM:NYSE) or a simple alleviation of the over-bought condition but keep an eye on this sector.
- In a public restroom, the stall closest to the door is the cleanest, because it is the least used.
- The energy space is making it hard for those wanting to buy on a pull back. I still 'sense' that we'll have another shot (particularly if crude spills into the election).
- Pole position!
- Pepsi was originally named Brad's Drink, and Kool-Aid originally was known as Fruit Smack Flavored Syrup.
- For the second day in a row, the dollar has clawed back its entire loss (as measured by the DXY).
- The revenge of Chucky on Sunday night.
- The Ottoman Empire once had seven emperors in seven months. They died of (in order): burning, choking, drowning, stabbing, heart failure, poisoning and being thrown from a horse.
- There seems to be alotta "close to home" tragedies lately. Take the time to appreciate those around you as it should never take something bad to make you realize we've got it good. On that note, have a fantastic--and safe--weekend.
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