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Random Thoughts: Rock Chalk Hoofy?


Some big names trade solid, but how will tape play out?

  • While small potatoes, I came into today's fray with few positions and smaller size. Still, those Todd-lots were skewed Boo and I used the opening slippage to make disciplined sales around those small cores.

  • Through the lens of "seeing both sides," remember that we've got 35 S&P handles until meaningful resistance and there are no guarantees that we must stop there.

  • WaMu (WM) the killer whale was struck at $8.75? Talk about a print (176,000,000) going up in the hole!

  • We've been all over the issuance in the financials and the intrinsic dilution. Psychology seems psyched that some of these names will be "ongoing entities" but at a point, folks will wrap their keppes around the ramifications of "ratchet protection supply."

  • Rock Chalk Jayhawk! Congrats to a very impressive Kansas squad on their thrilling victory last night. Down nine with a deuce left is a tall order against a gritty, well coached Memphis team. Great game, well done and way to finish up the tourney with a classic.

  • A hearty congratulatory slap on the back to Minyan Jon Burke, who squeaked by Minyan Chuck Roberts and Minyan Adam Berman to assume his throne as the 2008 Minyan March Madness Champion?

  • "Non-winners," such as myself, who finished in the distant dust at 151, have the option (but not the obligation) to make a donation of their choice to the Ruby Peck Foundation for Children's Education? At the end of the day, we're all about helping kids lead better lives.

  • As I quietly compile my list for tomorrow's syndicated column "Why we haven't seen the bottom yet," the market is trading stronger than a mule's breath.

  • Goldman (GS), Research in Motion (RIMM), autos, retail all trade firmer than a Jayhawk cheerleader. Rock Chalk Hoofy? Not so fast, Yo, we've gotta lotta trading left in the session.

  • Commodities are soft (silver -3%) and the dollar is marginally higher. Watch for potential trap doors in the drillers.
  • I still giggle whenever I hear people talking about "crack spreads."

  • No, I can't believe that Memorial Day is right around the corner either.
  • In today's edition of "Bottom Pickers Anonymous," we'll be discussing the homebuilders, which are off between 4-7% each.
  • So you know and so it's said, we're gonna hold off on MIM4 as it's our collective sense that hosting a high ticket event is bad form into the teeth of a recession. Instead, we're gonna focus our attention on the December Festivus to bring our community together in the spirit of giving back to those in need. As Minyans, we trust you understand the thought process behind the decision.
  • Schlumberger (SLB) isn't a half-bad short candidate with a stop on the other side of the 200-day ($94.5) for those furrily worried.

  • The Police are playing Vegas the Friday night of Memorial Day weekend? Hmmm…

  • I'll tell ya, Scott Baio made out like a bandit. Joanie can't be happy about that.


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Positions in SLB

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

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