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Random Thoughts: Picking Up a Homies Signal

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Homies are perking up on the antannae as potential oversold bounce candidates.

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  • We've been talking about the spread between LIBOR and Fed Funds for a while and sure 'nuff, it made the front page of the WSJ today. Keep this front and center on your radar, Minyans, as it's one of those indicators that can't be rationalized by FedSpeak.

  • HANGRY ALERT! What's worse than staying up to watch the end of the Patriots-Ravens game last night? The fact that the Patriots pulled it out (yes, I'm still pissed about the SnowBowl when they stole my Raiders AFC Championship). I mean, seriously, why does MNF end at midnight? Don't these people work?

  • We were talking video game makers last night and I offered that this is the intuitive next-gen ad spend. Think about it, TiVo (TIVO) squeezed Madison Avenue out of TV and satellite is doing the same to radio. Where do the captive eyeballs go? Yep, video and massive multiplayer online games. Geez, it sure would be a fantastic time to launch an animated financial literacy platform that's distributed across the world, eh?

  • The HFR Global Hedge Fund Index was down 2.6% in November, the biggest average loss since April 2000. I don't share that to rub salt--indeed, some of my very best friends earn their stripes in that arena--I simply share as we listen for redemption songs into year-end and beyond.

  • Yes, we rallied directly towards double secret resistance and (thus far) failed. Sure, there are huge (and potentially unknown) negatives looming. And clearly, hope springs eternal for a year-end rally. Along those lines, as we ready for the Festival of Lights, I offer eight rays of sunshine in this morning's missive. You always wanna see both sides of every trade. And know you do.

  • I'm a MOG. Half man, half dog. I'm my own best friend!

  • O-Dog and I spoke about the gap between his homies and resistance yesterday. The fundies suck--true dat--but they're perking up on my antennae as potential oversold bounce candidates. My vehicle of choice, when I dip my schtick, is Pulte Homes (PHM).

  • Does anyone else wonder what Bonnie has up her sleeve today?

  • We know that S&P 1490 is the motherload level of upside lore. What's the downside toggle? Easy, peasy, S&P 1405, which is the heretofore double bottom in the S&P (and a ten percent correction from the high).

  • Yes, I'm watching the beta plays, from Baidu.com (BIDU) to Google (GOOG) to Amazon (AMZN) to Apple (AAPL), as these are year-end performance anxiety proxies.

  • As opposed to Pfizer (PFE).

  • Is Laura Linney the most underrated actor in the world or what?

  • What am I doing today? A bit less as we ready for Festivus. I made some token sales on S&P puts (leaving a Todd-lot), picked at some Pulte (just trading) and watching my situations, which I'll add lower (and have enough inventory to feed the ducks higher).

  • All in all, just riding with loose grips on the handlebars as we find our way to easier trades.

  • Some Answers I Really Wanna Know…


    • Remember when we talked about financials in drag being the next dominoes to topple?

    • Is that worthy of a mention as General Electric (GE) probes important support (off 13% from recent levels)?

    • How 'bout through the lens of General Motors (GM), which rallied right back to resistance before failing?

    • Aren't those the definition of a General Malaise that only the genius possess and insane lament?

    • Man, crude $100 (or thereabouts) was a great fade, eh?

    • Is anyone else having a hard time getting that Beyonce DirectTV song out of their head?

    • N's over S's or S's under N's?

    • Where the heck did 2008 come from?

    • Where do Chanukah candles go for the other 357 days of the year?

    • Who didn't love The Giving Tree as a kid?

    • Do you think broccoli was teased by the other vegetables as a kid for being funny looking?

    • 300 Minyans for Festivus? Do I hear 400?


R.P.


Holiday Festivus is here! Come join us and support the Ruby Peck Foundation For Children's Education at an old-fashioned Southern-style hoe-down in the heart of New York City on December 7th. Click the image below to learn more!

Positions in SPY, PHM

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.

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