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Buzz Bits: Dow, Nasdaq in the Bear Cave


Your daily Buzz & Banter highlights...


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

Answers I Really Wanna Know... - Todd Harrison - 3:37 PM

  • Is the dry Citigroup action screaming that Chuck is a goner?

  • BIDU is all the way back to... where it was October 4th?

  • Isn't a broken clock right twice a day?

  • Seeing the "other side" (always), won't Hoofy offer that the sharpest corrections occur in the context of a bull market?

  • While Boo argues that we've seen the '07 highs?

  • Is there any way that Young Frankenstein on Broadway can be as good as the movie?

  • Where's your brain?

  • Do you see the relative traction in the homies?

  • Is Boo waiting at HGX 185 to unleash his hounds?

  • If that wasn't glue, what the heck was it?

  • If this was "it" on the downside, wouldn't the commodities be taking it on the chin too?


Mr. Market is at it again! - Quint Tatro - 2:23 PM

Word is that an analyst expects (BIDU) to have an in-line quarter which has taken Google (GOOG) down and created a spark of selling across the board. Mr. Market always has a unique way of dishing out some humility just when traders need it the most.

Patience is key and respecting stops is extremely important. I have been very patient all day and am feeling much better about that nagging feeling I have had for a few days now. It will be interesting to see who steps in and does some buying here. Time will tell.

I will take my stop on Force Protection (FRPT) shares if they do not recapture the pivot. The only buy for the day, but I will take small nick over a major flesh wound any time.

Position in FRPT

Some Naz Caution - Bennet Sedacca - 12:22 PM

Note the Eiffel tower formation forming in Google (GOOG). And note its $200,000,000,000 market cap. Yikes. That's a bunch.

Click to enlarge

I add that to Apple's (AAPL) valuation and I see, well, silliness. I happen to be a user of both firm's products and I love 'em. But not for a combined $350 billion.

I also note hedgers getting short the Naz last week as I will show below.

And I note the stretched band with of the Bollinger bands. And the lack of money in Rydex inverse funds as percentage of overall Rydex OTC funds.

This gets me bear uniform via QQQ puts. Yes, I know this is a seasonally good time of year. But so does everyone else.

Click to enlarge

Gold Watch - Lance Lewis - 10:15 AM

Note that spot gold is following the move in the gold shares earlier this week and is breaking out this morning to a new 27-year high above the late September peak of a couple weeks ago...

Click to enlarge

Also note that the trade-weighted dollar (the measure of the dollar that actually "matters") made a new multiyear low again yesterday. Coincidence? I think not...

Click to enlarge

Positions in GLD, gold shares

No positions in stocks mentioned.

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