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Random Thoughts: A Line-Up in Washington DC!

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What will be the aftermath of a government bailout?

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  • Did anyone else see the line outside the Treasury?

  • We offered out of the gate-in real-time on the Buzz & Banter-that the harsh, crimson tide was the most bullish possible opening. It didn't guarantee an upside reversal but a gap higher woulda been pounded like a chicken cutlet.

  • Setting stops removes emotion. In that light, S&P 1260, Merrill (MER) $23 and BKX 60 remain on ye radar.

  • Green beans in the Red Sea? Google (GOOG), Amazon (AMZN), Research in Motion (RIMM), Deere (DE), Nokia (NOK) and Baidu (BIDU).

  • The world's fastest man isn't exactly the first thing that pops into my mind when I think of Jamaica. What does? I don't remember...

  • The bulls would prolly applaud if the government put Fannie (FNM) and Freddie (FRE) equity out of their misery and backed their debt. At least for trade.

  • The real problem would arrive when the next leak springs in the dike and make no mistake, there are alotta leaky springs and just so many fingers.

  • $233 billion is a big nut in six weeks and they're the big, stinkin' elephants in the room. A tranquilizer dart might work wonders for the short-term but the big picture ramifications are, in a word, disgusting.

  • Hey, why the long face?

  • What doesn't act so well? Apple (AAPL) (it couldn't find a bid with the rest of big beta this morning and I sold my calls for a small loss), breadth (laggy all day), the brokers and Julia Stiles.

  • I wanna know who Jack Bauer is voting for.

  • While I was looking at crude $110 for a bounce, I'm watching crude $120 as first resistance and crude $130 as a more meaningful level.

  • Exxon-Mobil (XOM) $85 remains a level of lore for Boo's Crew.

  • Assuming the government bails out Fannie and Freddie, what's gonna happen to the MASSIVE amount of corporate credit that comes due in September?

  • It sorta makes one wanna do some soul searching, eh?

  • Are tighter spreads in the GSE's a bullish development or simply a sign that macro funds booking profits and rolling them into other bearish credit bets?

  • In other words, if Fannie and Freddie are saved, wouldn't that soak up some serious supply in the marketplace?

  • Given the tapping toes and bated breath, wouldn't some Tom Petty be appropriate?


R.P.

No positions in stocks mentioned.

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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