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Groping for Support: S&P, Hasbro, Nordstrom, Intel...


The trick, of course, is never letting a bad trade become a long-term investment.


Editor's Note: The following content appeared on the Buzz & Banter at 12:02 pm and is being reposted here for the benefit of the broad Minyanville community.

  • The battle for 1490 on the S&P 500 resumed this morning. We're sittin' right on it as I start with bullet point one and we bottomed at 1490.63 this morning. Technicals are both art and science; in the eyes of this charting hack, the fight for 1490 today will determine the next 5%.

  • Hasbro (HAS) did a great job smacking earnings estimates this morning and the stock is flattish, regardless. I'm long Hasbro which might make Minyans mull whether or not I'm chasing my Diet Red Bulls with Hemlock this morning. The answer is "not really". I'd like Has to be ripping but the stock is on the "investment" side of my book. Trades are about momentum and catalysts. Investments are about the longer term fundamentals being better than others expect.

  • The trick, of course, is never letting a bad trade become a long-term investment.

  • What does an investment have to do to get kicked off my sheets? They have turn in atrocious fundamental performance married to no real idea on how to fix it. Which is why I don't have any positions to disclose in Nordstrom (JWN).

  • Speaking of investments, I was very impressed with Intel (INTC) CEO Paul Otellini at Fast Money's live show on Friday afternoon. Very impressive guy with his eye on the ball. His performance made me quite comfortable to be a shareholder, no mean feat on a down 400-ish day.

  • I was startled to hear that Herb Greenberg has had to flee his home in Southern California. White Light to Herb and everyone else in the area. Life is about perspective, as always.
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Positions in INTC, HAS

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