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Buzz Bits: Markets All Mixed Up


Your Daily Buzz & Banter highlights.


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

Bell Buzz - Todd Harrison - 4:08 pm

  • For what it's worth and so it's said, Professor Coop De Ville's S&P 1420 level fits with the "pop & drop" path of maximum frustration. As discussed and as a function of the levels of volatility and the double edged catalyst (technical, FOMC), I've got two-sided gamma and plenty of powder as we find our way. Nobody knows which way the sway will toggle. All we can do is assign probability and position accordingly.

  • Hands over eyes, the action in Microsoft (MSFT) isn't giving me the warm and fuzzies. I'm still there--and I'll stay there--but I may appease the God's by making a token sale on my upside calls. When in doubt, trading in between always makes sense.

  • I remember having a conversation with media folks when crude was at $90 and the notion of higher oil being a "structural positive" for equities illicited giggles. I maintain that higher crude is a "drag" but precipitously lower crude (and a higher dollar) would be the equity death knell through the lens of asset class deflation vs. dollar devaluation.

  • Time to jump and juggle and balance the struggle. I hope you found your way through the Monday's and you enjoy the journey in front of President Tyler. Fare ye well, Minyans.


Position in MSFT

Looking for IWM to Kick In - Michael Paulenoff - 3:54 pm

I know what some of you must be thinking: why am I wasting my time in the iShares Russell 2000 Index (IWM)? Aside from the fact that I really like the upside potential of its four month base-like pattern, I also think that if Fed stimulus is going to "kick in" during 3Q and 4Q, and if the narrowing of some of the credit spreads recently is any indication that fears of market risk are subsiding, then the small cap sector will benefit, although it has been lagging a bit.

This is not the first time I'm early in a position, (and will not be the last, I am sure)-- in fact, I was long a few ETFs during the General Electric (GE) debacle, only to get clobbered and stopped out right before the most recent big advance from the March 15th low. In any case, if I am correct sooner rather than later about the small caps, then the IWM will rocket and make up lots of time and territory in the ensuing upmove.

Click to enlarge

Beta Plays - Jeffrey Cooper - 1:09 pm

A 10 minute chart of Google (GOOG) over the last two days shows it's attempting to extend out of a triangle just above 554. See the chart below.

Click to enlarge

A 10 min chart of Research in Motion (RIMM) over the last two days shows it may be tracing out a bullish handle of a Stein and Handle pattern. Note Friday's long upside tail from 117ish--often these long tails mark the end of pullback lows and reversals on the various timeframes. See the chart below.

Click to enlarge

What I... - Quint Tatro - 12:47 pm

What I Like

  • Trend breaks in SPY and XLF.
  • Positive breadth.
  • China momentum follow through.
  • Solar perkage.
  • Shippers running.

What I Don't Like

  • Anemic volume.
  • Being early/wrong on a Commodity sell off.
  • Bullish complacency.

What I've Done

  • Started ProShares Ultra Financial (UYG) and added XLF.
  • Bought some May 93 Puts on USO.
  • Sold down some more QQQQ.

What I'm Watching

  • Day lows on XLF for my guide on where we go from here.
  • E-Future Info Tech (EFUT) day high as next add point.
  • Home Inns (HMIN) consolidating under 50 day.



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