Random Thoughts: Bulls Stretch to Key Resistance
Keep your eye on key technical levels.
We interrupt the grilling on the hill to take a fresh peek at the marketspeak. Remember, Minyans, we're all just pawns in this game. We can agree, agree to disagree, disagree on agreeing to disagree or disagree altogether but when push comes to shove, we must adapt (not conform) and walk the walk as they talk the talk. Some Random vibage:
- This was the first of a series of interviews on Yahoo Finance this morning. Two questions. First, am I allowed to talk about this stuff? Second, am I really that chubby?
- The financials hold the key to the sentiment vault. Being one trade away from financial Armageddon, as Big Ben offered yesterday, is sorta spooky. Whether or not that is a necessary brink in the wall of worry remains to be seen. Again, it's possible to have both (a trade higher and further lows).
- Big beta is interesting, with Research in Motion (RIMM) and Apple (AAPL) on one side and Google (GOOG) and Amazon (AMZN) on the other.
- I didn't expect to see bifurcation in this complex but hey, I didn't expect alotta things. Like... the taste of breadfruit. It looks like a fruit, it tastes like bread. Go figure.
- (Please note, the following blurb appeared on the Buzz & Banter at 11:35 AM)
With a conscious nod that there's mas risk out there, my sense is that if Boo can't turn the downside screws in the next hour or so, the "can't get 'em down" crowd will chorus into the close. Hey, maybe that's just want him wants us to think. (Him doesn't like it when we talk like that!).
- Speaking of invisible hands…
- What the heck are Asian and European investors thinking as they listen to the heads of the US banking system tell congress that the failure of one firm would bring down the entire US--and by extension global--economy?
- It's easy to play Liar's Poker if you're able to print chips.
- We've spoken about important levels to the upside (S&P 1405, DJIA 12,800) but what about levels of downside lore? How 'bout S&P 1315, if and when, as it's the first higher low we've seen in some time.
- File this under "a broken clock is right twice a day" but pharma trades with a bid.
- What's YOUR number? Mine was a LOT higher than I thought. Click on the ING advertisement on Minyanville to find out!
- As go the piggies? Yeah, note the poke that is BKX 86.5 on a closing basis as the next technical step.
- If only I got home sooner…
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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