Randoms: Chip Which?
Traders ready for a new slew of earnings.
Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). It's being shared here for the benefit of the Minyanville community. See also A Financial Jedi Mind Trick? and Turnaround Tuesday Strikes Again.
So here we are, in the midst of contra-hour in the thick of Turnaround Tuesday, weighing the fray and finding our way. As I chew through my many to-do's, with one eye on the tape, the other on upcoming earnings and the Third Eye Blind, the following vibes are top of mind, in no particular order, as we edge our way to the weekly Hump:
Minyan B-Daddy asked me for my gut on Intel (INTC). A quick glance at the chart (potential acne) coupled with the "kitchen sink mea culpa" by management, would tilt my hand in the direction of Hoofy. I've nibbled ever so slightly on some front month lottery tickets for schnitz and giggles, so you know and if you care.
Expect to see the bulls recircle their wagons at BKX 32.5 and S&P 800, if and when. We've spoken in spades about the reverse dandruff in both--as well as the fact that technicals are a better context than catalysts--but you always wanna know what other traders are thinking and now you do.
We touched on "Doing Something Joel" earlier but I wanna circle back to it. It's tough out there--you feel it, I feel it, we all feel it--but it's amazing what a random act of kindness can accomplish. A smile. A gesture. Offering some M&M's to a stranger, that sorta thing. You never know how far that pebble will ripple in the proverbial pond of life.
Speaking of ponds, life and the other side of that trade, I'm heading to Orlando Thursday to meet with the good folks of Atlantic Advisors. While I'll be out of pocket most of the travel day, I plan to hang with the boyz in the hood an Friday and vibe live from there. There was once a time when I would never travel on a dual earnings and expiration week but some things are simply more important.
Thanks kindly for understanding, Minyans. Fare ye well into the bell and remember to "trade to win," never trade "not to lose."
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.
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