If you're staring at every tick and gripping the handlebars with white knuckles, take some pressure off by paring a bit of exposure. You'll think better.
- Watch Mother Merrill (MER) as a tell today. It opened up and quicklygave back pa nub.
- Also see Grandma Goldman (GS) and Big Bear (BSC)--they're dancing in Red Dye.
- Remember, the banks and brokers trade on what will be. Earnings, by definition, describe what was.
- And while we're shakin' bacon with the piggies, keep an eye on that BKX chart, which is tickling the top end of an uber-important resistance zone.
Click here to enlarge.
- A.D.D.? More like a moth in a light bulb factory. But hey, being this busy is entirely better than the alternative.
- While my "gun to head" call today would be "lower, perhaps to S&P 1540," that's admittedly a gut feel. And it's subject to change if the financials catch a bid and
mount BKX 116. (Editor's note: this blurb appeared on the Buzz at 11:49 EST at S&P 1553).
- With that said, the longer the market can "base" above current support (and previous resistance) at S&P 1540, the more likely a leg higher becomes.
- Or, we can look at it another way. You know the "rule of thumb" that parabolic frolics typically fail on the first probe of resistance? Pull back that lens on the S&P eight years and take a look. Perspective is everything or, at the very least, interesting.
- Trick of the trade: If you're staring at every tick and gripping the handlebars with white knuckles, take some pressure off by paring a bit of exposure. You'll think better.
- Why does fattening food smell better? I mean honestly, someone in the MVHQ bullpen is eating wings while I'm trying to stay svelte with a salad. It's just not right.
- Intel (INTC) reports tonight. I've been loving this name for a long time, looking for a good entry point on the chip kingpin. The mental finger-cuffs I've got on my trading fingers are "after the run it's had, it's just begging for a 'sell the news' reaction" on the Wait side and, "The hardest trade in this rally has been buying into it and staying long" on the Buy side ." Television's JeffMacke on today's Buzz.
- Monkey? I'm a gorilla you clown!
- Do the Jitterbug? Check out this juncture for metal equities as they're nestled between two pimples. Acne to the left, acne to the right, potential nirvana right in sight.
Click to enlarge.
- I'm still long Goldenstar (GSS), so you know, with an eye on the pennant. The Yanks should be so lucky.
Click here to enlarge.
- Newmont Mining (NEM) used to be a core but I sold it a ways back due to my nationalization concerns. Still, if and when it breaks this pronounced downtrend, it might be worth another look.
Click here to enlarge.
- Hoofy & Boo's new episode debuts tomorrow and it's killer. Wait'll Otis sees this--he'll love this!
- Why is it that when you bite your lip, you inevitably continue biting it in the same spot the entire day?
- I was a big buyer of John from Cincinatti for the first few shows but either it's getting weirder or I'm getting more tired on Sunday nights. And no, I'm not talking about Succo.
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 email@example.com.
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