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Buzz Bits: Dow Takes a Dip, Nasdaq Reaches Higher


Your daily Buzz & Banter highlights...


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

Buzz in the Afternoon - Todd Harrison - 3:07 PM

  • Minyan Hot Rod writes "Todd, this sounds like an excellent opportunity to buy more stocks--perhaps steel and deep cyclicals? The workers on their forced vacation may be up for some day trading!"

  • Minyans know that I think Pep's 5 Things is the best read on the Street. Today's vibe is particularly powerful and, dare I say, a must read for ye faithful.

  • Hoofy will argue that today's equity action is healthy and an underlying bid persists. I can't argue with the big fella.

  • My grandfather taught me to take the high road as it's less crowded and boasts a better view. For some reason, I think of that every weekday at 2:30 EST.

  • Merrill trades dry relative to it's peers. Heck, it's one of the few brokers that isn't extended. Morgan Stanley, for its part, has thus far failed under resistance. Perhaps there's a pairs there?

  • The VXO is up a quiet finski. A few more days like this and she'll get her drivers license.

  • Young Frankenstein. On Broadway? Starting tomorrow? Somebody grab me a candle!


Boeing Delivery Delay - Mark Bloudek - 12:49 PM

The delivery delay announcement from Boeing (BA) should be taken very seriously from a financial perspective IMO.

As a former engineer who worked at Boeing, when you have delays in deliveries, you get massive cost overruns. Boeing is the biggest integrator of parts in the world and delays cause expensive logistics/manufacturing problems. Additionally, since this is a new aircraft, the design cost overruns will also be an issue. There was a lot of risk with the Dreamliner because it was the first composite design that the company has ever undertaken. From the sources I know, this has indeed been a difficult task and many engineers have spent a lot of time away from home dealing with the issues with this design. Please remember that the Dreamliner has the highest percentage of outsourced parts of any Boeing jet program.

Reverse dandruff??? - Bennet Sedacca - 12:05 PM

I have been thinking that homies are putting in a low. I 'feel' right as while I know business is bad, who doesn't know? And yes, it would be bullish near-term in the context of a 15 year secular bear. But a bounce could be vicious.

Why? As I have stated here many times lately, I think many are takeover bait. Also, fiscal year end for mutual funds is fast approaching. Short positions average 7 or 8 days to cover. So there is a lot of fuel to buy, with selling pressure coming off.

And note below the inverse dandruff. Call me crazy, but I hated 'em in 2005 an kind of like 'em now. With a stop below the old low.

Click to enlarge

This is not investment grade in my book, but worth playing for a shot for those with strong stomachs. And defined risk.

Position in XHB

Between the Ticks - Jeffrey Cooper - 10:59 AM

  • Notable is the weakness in refiners Holly Corp. (HOC) and Western Refining (WNR).

  • Greenie says now there is less that a 50% chance of a recession... I'd love to have his litmus paper and crystal ball.

  • Just key in EXURBERANT on Amazon (AMZN) and order your pointed hat and robes and fill out an application with Bill Gross.

  • Golly if Goldy is the Tell of Tells does this breakout yesterday signify a moon shot for the market?

  • Or can the Pit Bosses make the Tell of Tells tell a tall tail for the Benefit of Mr. Market?

  • Does Sotheby's know about the auction going on in the raising of targets on Google (GOOG)?

  • Are they getting a piece of that bidding action?

  • Hey, hand me a paddle quick, I'll see your 701 and go 750.

Position in HOC

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