Buzz Bits: Dow, Nasdaq Finish Strong
Your daily Buzz & Banter highlights.
Have a Holly Jolly Tape Close... - Todd Harrison - 3:36 PM
The final ticks of the bickering flick are upon us and not a moment too soon. I think I can speak for ye faithful when I say that we're ready to tie a bow on this week and stuff it under a tree. Some top line vibes as we jingle and chime:
- What can we read into the SIV Superfund close? A lack of sponsorship, perhaps, but it's prolly not all that impactful considering the Global Coordinated Liquidity Injection last week and the $500 billion since tossed in. Net/net? It's semantics---they just changed the methodology of the bail-out. .
- S&P 1490. Man, like a moth to a flame. Eat your heart out Janet Jackson.
- While the brokers are tagging along, the money center banks are notable in their laggage. Again, could be the urge to purge by fund managers en masse but it's tough to put lipstick on those piggies. At least not yet.
- LOOK AT THE VOLUME! Relax, Francis, it's expiration and rebalancing and stuff like that. Volume should be at a much brisker pace. Even during the holiday.
- While I've got a face for radio, I must admit to enjoying the crew over at FOX Business Happy Hour. I feel like a truck hit me today (long week) but I've got two aces in my back pocket named Hoofy and Boo and their segment for tonight is one of the funniest yet. You''ll see it Monday on the 'Ville, lest you needed motivation to come say hello to those of us pulling the sleigh.
- I'm in hop mode so lemme fare ye well into the bell and wish all ye faithful a fantastic weekend and, for those off, a wonderful holiday stretch. I'm outie the first week of January, visiting an old friend in Maui, and then we'll tackle '08 with mucho gusto.
- May peace be with you!
Opnext is Flying - Sean Udall - 2:43 PM
This is an example of the kind of moves we can see out of these stocks when the face/tax loss selling eases off a bit. Jabil Circuit (JBL) is the example of bad news into a weak stock price at year end.
Anyway, I did trim some Opnext (OPXT) but am maintaining long exposure into their EPS report, unless we see a move into the mid-teens and that is where I would trim more of the name.
I also wanted to trim a bit of OPXT as Infinera (INFN) is cratering and I wanted to start buying this again for the first time in months.
Position in JBL, OPXT and INFN.
A Break Out Ahead? - Lance Lewis - 11:43 AM
Not quite a break out yet in gold, but certainly encouraging. The gold shares, on other hand, finally appear to have ended their correction, though, and are rallying strongly on the option expiration (which probably played a big part in causing their overshoot to the downside versus the metal to begin with). The dollar index also looks like it is probably failing at the old all-time low of 78 that was breached back in October.
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In short, it's setting up for a very interesting January for gold bulls (even though it will be seasonally the opposite of what we typically see, just as was the case here in December where the dollar rallied and the gold shares corrected? Then again, if the calendar ruled the investing world, monkeys would all be rich, wouldn't they?).
Copper and other GDP sensitive base metals are just bouncing, in my opinion. The Gold/base metals ratio continues to favor gold at this point in the US credit cycle.
Position in GLD, gold shares.
Die-hards! - Quint Tatro - 11:14 AM
OK, this one is for the die-hards, and you know who you are. The prop guys grinding out a little extra Holiday coin, the young managers banging home some final performance for the quarterly report or the independent hooked on this wonderful world we call STOCKS! Since I am in that camp here is what I am watching:
- Cleveland Cliffs (CLF): Right here is a cup and handle break. I took a smidge but will watch for more volume later in the day to add. Will put a firm stop at today's low.
- Citigroup (C): Ya, I know, nutty but could work over $30.55. Would you hold this one over the weekend? No way.
- Darling International (DAR): Pure mo play and a flipper's delight. Over $11.92 and it could get nutty. I would look tosell into strength.
- Companhia Siderurgical (SID): I picked some up right here with 2 excellent accumulation days recently. Stop at day low.
Work hard, it's worth it!
Oh, and check out Tickerville if you ever wanted to kick it with me on a daily basis.
Positions in CLF, DAR and SID.
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