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Buzz Bits: Dow, Nasdaq Inch Ahead


Your daily Buzz & Banter highlights...


Editor's Note: This is a small sample of the content available on the Buzz & Banter.

The Slinky Wink - Todd Harrison - 3:15 PM

  • For the first time since the Spanish Inquisition, Grandma Goldman trades heavy. I don't know nuttin' about the chatter earlier (regarding their internal "marks"), I'm just watching the price action (in the context of tomorrow's unknown binary).

  • S&P 1530 remains the initial technical toggle of choice for the "we're just consolidating before a push to new highs" crowd.

  • Look at me, the XBD? Yeah 242 was the first (of a few) relative levels and we bumped our keppe there. I still haven't figure out if traders watch technicals because they work or if they work because traders watch them.

  • Alrightee then, we're just about to open the gates for the 2007 Minyanville Holiday Festivus to benefit Children's Education on December 7th. This is all about our Circle of Trust (professors, partners, investors) but, as we're an inclusive community, there will be a limited number of tickets available. Not sellin'--just tellin' as the price point is more than reasonable.

  • Yes. the tape acts great and, as a function of current psychology, we should get a probe higher tomorrow morning (at the very least). The prevalent upside expectations, however, should be noted.

  • All 5 Things are not created equal, although they're all fantastic. I think yesterday's vibe, for what it's worth, was one of the best in breed.


(New) position in GS.

Randoms - Fil Zucchi - 1:30 PM

  • Akamai (AKAM) just dropped a quick $1 on the release of this piece ragarding price competition. Considering I have been $10 early in reloading on AKAM, I dare not suggest the article "doesn't get it"; I will say that I don't agree with it.

  • Will Tousa Inc. (TOA) win the race to be the first public homebuilder in bankruptcy court? At this time its bonds seem to give it an insurmountable lead.

  • Gotta give it to Dean Foods (DF): that $10 special dividend and $300 mln buyback paid for with debt, certainly created a whole lot of shareholder value... for Boo.

  • All my tells suggest people are leaning on the side of a bad job number, except for equities. That's a ticket for high 2-way risk.

  • How good is Springstein's new album!?

  • If this dynamic is what our financial fabric depends on, we are in a heap of trouble.

  • We are in a heap of trouble.

Position in AKAM.

Goin' Solar - Sean Udall - 12:14 PM

  • Solar stocks should be a good area to take profits in or short whenever the market finally takes a breather. If there is a reasonably valued name in the group (even considering the high growth rates), I don't see one.

  • (BIDU) will set up as a better short if fails to confirm the recent spike and sells off on another visit to the $320's. Then odds are high of a gap fill to old highs.

  • FXI is hanging tough today. I still think it retests the 50 day moving average. If not then my trailing stop takes me out.

Position in FXI.

Homie Follow Up - Bennet Sedacca - 11:58 AM

I mentioned the other day that I thought homies had potentially bottomed. With the weakness today following yesterday's strength, I though I would chime in again.

Why are they getting hammered? One reason could be that mutual fund fiscal year ends are fast approaching. Another reason could be some bad news from Europe.

I am not yet long, but want to see some reverse dandruff on the daily chart below.

Click to enlarge

Then I want to see a break of the daily down trend line depicted below. Not until.

Click to enlarge

No positions in stocks mentioned.

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