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Randoms: Watch Those Banks!

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As go the piggies, so goes the poke.

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  • A few folks have asked my opinion on Research in Motion (RIMM) into earnings. While I've got no edge, per se, I'll again draw your attention to the upside gap, which typically has a tendancy to "fill."

  • Not to be that guy, but I'll ask Minyans to please keep an eye on the situation in the Far East as Japan has asked for an urgent UN response to the North Korean missile launch.

  • The Morgan clan (JPMorgan (JPM), Morgan Stanley (MS)), along with profit taking into the jobs report, are the potential flies in today's try although the animal spirits seem strong following the game changer from FASB.

  • Respect the power of perception please. The BKX is down 75% in two years and there is a camp that will point to FASB 157 as the culprit (and regulatory relaxation as an all-clear). We know that's not the case, of course, but see both sides. Always see both sides.

  • If you're confused about what Level III accounting is, reference Fire on the Mountain, which was written before the wheels fell off the wagon.

  • Come on now, did you really think I'd leave you hangin'?

  • Keep a close eye on BKX 32.50, which would "confirm" reverse dandruff for the banks. I understand they're up 70% into FASB but if they can mount that hump, the potential for another leg higher increases in kind.

  • Are you watching the trannies as they probe resistance at TRAN 3000?

    Have you checked out the new Minyanville series "Money Talks" and this week's episode with William Cohan, the author of House of Cards?

    Chatter abounds that we'll start seeing "spot secondaries" in the financials to which I'll ask, "Are you really that surprised?"

  • Every time Coops talks about the wheel of time, I'm reminded of The Wheel of a different breed.

  • Does anyone else find it odd that the VXO is green today?

  • As I'll be in Florida tomorrow for business-and then logging vibe time with the Maven over the weekend-how bout an old fashion March Madness Minyanfest in Del Ray on Saturday?

  • Boo continues to chew on Apple (AAPL) short into the as it ticks towards major resistance at $115. As I hate blind risk almost as much as I dislike loud chewers and close talkers, I'm not there but I point it out for those involved.

  • I think Ethan returns to save the day. At first, I thought he could have been part of the problem but with the emergence of Olivia Taylor as a bad egg, it's becoming increasingly obvious that he'll be part of the solution.

  • Hope this finds you well, Minyans, and remembering to be thankful for what you've got rather than bumming about not having enough.


R.P.



In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.

Position in MS

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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