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Random Thoughts: Financials are Shaking

By

Piggies tell the broad market tale.

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  • The standout action as we slid off today's ski lift? I'll give you a hint, it rhymes with "shma-smantials."

  • As go the piggies, so goes the poke and I'll key off them until they stop working.

  • Of course, if watching grass grow helped me navigate the tape, I'll be on all fours with grass stains on my knees.

  • No, not like that. Come on now, this is a family franchise.

  • Oink Alert! Speaking of the piggies, keep close tabs on BKX 85. If this bacon gets shakin', the tape will start flakin'.


    Click to enlarge


  • See the Art Carnage in Fannie (FNM) and Freddie (FRE). Every time I think of these names, the word "Nationalization" springs to mind. I know, I know… can't happen, right? I'm not so sure.

  • For what it's worth, I thought Johnny Bravo was more than just cool duds. He coulda been somebody.

  • Just ask Marsha.

  • I'm "feeling" Wachovia Bank (WB) $30 but, as a function of discipline, I've peeled off a snivlet of my puts to respect the process.

  • Keep half an eye on DXY 74.80, which is a mere 70 bips away. It would be a fresh multi-year low for the grungy greenback.

  • I'm still vibing a big move, Minyans, so keep your eyes peeled and your goggles clear.

  • There's something very peaceful about a blizzard in NYC. Of course, I can say that as I'm warmly nestled in my midtown nook wearing sweats and slippers. Hey Phoebe, toss another log on the faux fire!

  • Where Bear? Hey, it must be Friday! Bear Stearns (BSC) just found a bit and has injected a sense of vuja de to the snowy fray. Sorta like we've seen this movie before but it never really happened.

  • Is anyone else getting very excited for the March Madness and the NBA playoff run?

  • Churn, churn, under resistance. The quicker we trade down, the deeper the distance.

  • Chinese Chicken? Sticks and stones, baby, particularly with the series of lower highs in Shanghai.

  • What is it about Jerry Garcia on a snowy day? Oh, this!

  • One of the most expensive lessons in my career was the ability to synch my time horizon and risk profile. A long-term thesis shouldn't react to the daily dirt and short-term players need not concern themselves with macro themes. Take me at my word here--I lost a lot of money learning this and share it with hopes that you avoid that misstep altogether.

  • Remember, the credit-equity dichotomy infers a fierce move. Based on the technicals, odds are that it's lower. But that doesn't mean it has to be lower. See both sides please.
  • Alotta traders are stuck at home (hand raised with a smile) and that's leading to lower than average volume. Recipe for volatility? You betcha, Mister.
  • Applied Materials (AMAT trades dry. So do select cyclicals such as United Technologies (UTX), Honeywell (HON and Deere (DE).

  • Rock on, Minyans, as we groove towards our requisite two-day respite. Noice.


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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