Random Thoughts: See Both Sides of the Tape
By Todd Harrison Dec 06, 2007 12:17 pm
Yes, there are reasons we can rally. There are also many reasons that we can fail miserably...
- Tommy Shaw would be proud!
- I nibbled on some January S&P puts this morning, which is new and different than the odd-lot December paper left on my sheets. Just respecting the process (as we tap resistance) and trying to use price to my advantage as I roll exposure out (I hate front-month guns to the head).
- I've got some situations on the long side so I'm viewing this mostly as a hedge with some overage as a spec (which will be stopped out with a lift through this zone). Again, not going nuts as a function of my respect for the two-sided risk and time management issues.
- Mr. Practical has a way of taking the most complicated of issues and delivering them in a way Minyans can understand. Donke Shoen.
- Badges? We don't need no stinkin' badges!
- Yes, there are reasons we can rally. There are also many reasons that we can fail miserably (technicals, fundamentals, structural (credit markets) and psychology). See both sides, Minyans, and trade with discipline over conviction.
- Market breadth is the single most bullish tell I see. S&P 1490ish is the single most bearish.
- Is it bad to offer chocolate eating challenges to MVHQ staffers? Only if I lose, I suppose. Yesterday, I offered snazzy MV Editor Christina a benji if she could eat an entire box of Godiva in five minutes and she picked my pocket but good!
- Is anyone else reminded of Ayn Rand lately?
- Everyone is talking about how quick Floyd Mayweather is but Ricky Hatton is tough... and he has heart. Never discount the heart, Minyans, it's the stuff champions are made of!
- I'm a gorilla, you clown!
- Note to all ye professors who are traveling in for tomorrow's Festivus: Mi Casa Su Casa. MVHQ will be open all day for hugs and handshakes.
- Note the laggage in Granny Goldman (GS), which is one of the more popular players at Del Boca Vista. While she has, in fact, out-performed her peers (and this could be some alleviation of that), the limpy gimp is worthy of a mention.
- We know that big beta is the most intuitive "bang for the year-end" performance anxiety buck. Along those lines, watch Google (GOOG), which is currently at recent highs. If it can push through this zone, $750 (all-time highs) becomes the next beacon in the flight.
- That Beyonce DirectTV commercial is haunting me. Upgrade, upgrade...
- Television's JeffMacke® (not to be confused with Beyonce) offers a spirited look at the Holiday trot. He also thinks Mayweather is gonna pound Hatton, so you know, and he's pretty good with that stuff.
- As always, I hope this finds you well.
Holiday Festivus is here! Come join us and support the Ruby Peck Foundation For Children's Education at an old-fashioned Southern-style hoe-down in the heart of New York City on December 7th. Click the image below to learn more!
Position in SPX
Get The Minyanville
Daily Recap Newsletter
Daily Recap Newsletter