Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Random Thoughts: Dancing in the Street!

By

Almost time to tune into the important stuff.

PrintPRINT

Editor's Note: This content was posted in real time today on our premium Buzz & Banter. It's being shared here for the benefit of the Minyanville community. This is a continuation from Random Thoughts: Chasing the Dancing Bears.


Sugar Magnolia, Blossoms Blooming. Heads All Empty but I Don't Care... - 1:35 pm


Repeat after me Minyans. I will get by. I will get by. I will get by, I will survive!

Yes indeed, in less than three hours, we'll be tuning this out and turning it up, celebrating life as we know it and taking a mindful step towards how we should live it.

From here to there? We've got a belly full of fresh fish, some "Palo Alto '86" in our ears and the double thumbs up from Fox Business continue our Jerry Tribute Market Themes (in the afternoon hit) that we started this morning. Noice and noicer.

Oh, the tape? Hey now, hey now, aiko aiko ay nay...

  • My risk profile continues to hang in Matador City. My trading vehicles, as discussed, are Wachovia Bank (WB) (+6%), Mother Morgan (MS) (+4%) and MBIA (MBI) (+20%). Against dem apples, I've nibbled on a snivlet of Visa (V) puts just in case the charge higher doesn't go through.

  • I again plan to pare my risk into the bell to hit it to quit it in more ways than one.

  • Mea culpa on being dime foolish on the Exxon-Mobil (XOM) short into $85. No worries though, hindsight is foresight if we can morph our mistakes into lessons.

  • BKX 68.63 was the most recent high. A "higher high"--in the banks, not with regard to the music--would be a kind vibe for Hoofy's Heroes into the weekend.



Nothing Left To Do But Smile, Smile, Smile! - 2:01 pm


Continuing Jerry's birthday celebration, some further themes!

Hell in a Bucket

  • Note the action in Mastercard (MA) and Visa (V) today.

  • We've spoken about the risk in this complex as a function of the credit crisis phasing into the consumer.

  • Additionally, the U.S. House panel approved legislation to curb credit card fees.

  • I have a small Visa put position against my other financial exposure but as it was a hedge against other positions (that I'm scaling (read: selling)) into this rally, I've pared that side of my risk profile in kind.

China Cat Sunflower

  • As we ready to head into the Olympics, it's worth noting that Shanghai continues to churn under 3000.

  • We've been eyeballing China since it broke in early June.

  • Sideways action under resistance is as bearish as sideways action above support is basing.

Brokedown Palace



More Answers I Really Wanna Know... - 2:39 pm

  • While I'm feeding the ducks in Wachovia (WB) (read: making sales into strength) and will go home with no position in the name, doesn't the stock trade like something is afoot at the Circle K?

  • Indeed, while the "eyes" seem to have it today, is there anything wrong with unwinding some risk into the unknown that is the weekend? (No and, in fact, that's what I'm doing.)

  • Do you think the fifty Dead shows under my belt had anything to do with the nutty idea to create a business predicated on a metaphorical bull and bear?

  • Where exactly is Cumberland?

  • Have you circled Thursday night, December 4th for the fantastic 2008 version of the MV Festivus for Children's Education?

  • Is the fact that crude is up less than a percent in the face of persistent Iran chatter telling us something?

  • I mean honestly, who in their right mind would short crude here?

  • You "see" that the S&P has room to 1325 before tickling a very defined downtrend line, right?

  • Are we there yet?

R.P.

GET TODD'S AND 30 OTHER PROS' INSIGHT IN REAL-TIME EVERY DAY WITH A 14 DAY FREE TRIAL TO BUZZ & BANTER

Positions in WB, MS, MBI, V

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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE