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Buzz Bits: Dow and Nasdaq Rise to the Occasion

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Your daily Buzz & Banter highlights...

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



Daisy at the Helm - Jeffrey Cooper - 2:21 PM

This is one of those Daisy Days --- they are milking the 155 Spyder.

After Thursday's explosion it looks like the arbs sold call premiums and are gonna let it drift down towards the old high at 1540ish.

Interesting to see how some of the classic defensive names such as Coca-Cola (KO), General Electric (GE) wakey wakey.

As many Horsemen---Research in Motion (RIMM), Apple (AAPL), Garmin (GRMN), Baidu.com (BIDU), had Gilligan Sell Signals yesterday...a Gilligan is a gap open to a new 60 day high with a close at/near the low of the session.

Not all Gilligans are tops of course, but many tops are Gilligans.

Position in GRMN, RIMM, AAPL, BIDU.


Random Squawks - Jeff Macke - 12:37 PM

  • I just bought some Hasbro (HAS), after finally waiting out my obligatory time between talking about it on air and when I can trade it. I tell ya, having a foot in trading and TV can be confusing.

  • Intel (INTC) and Yahoo (YHOO) tonight, of course. I've been loving the former for a long time, and looking for a good entry point on the chip kingpin. The mental finger-cuffs I've got on my trading fingers are "after the run it's had, it's just begging for a 'sell the news' reaction" on the Wait side and, "The hardest trade in this rally has been buying into it and staying long" on the Buy side.

  • As for Yahoo (no exclamation point)... after a giddy moment of life between the headline of firing Semel and the news that they didn't actually fire him and weren't replacing him with an outside, Yahoo has gone back to being dead to me. Strictly talkin' stocks here, folks.

  • Food prices down, eh? Gotta love the gub'ment statistics.

Position in HAS


Cup O' Buzz - Todd Harrison - 11:49 AM

  • A.D.D.? More like a moth in a light bulb factory. Hey, being this busy is entirely better than the alternative.

  • While my "gun to head" call today would be "lower, perhaps to S&P 1540," that's admittedly a gut feel. And it's subject to change if the financials catch a bid and mount BKX 116.

  • Trick of the trade: If you're staring at every tick and gripping the handlebars with white knuckles, take some pressure off by paring a bit of exposure. You'll think better.

  • Do the Jitterbug? Check out this juncture for metal equities as they're nestled between two pimples. Acne to the left, acne to the right, potential nirvana right in sight.


Click to enlarge.


  • I'm still long Goldenstar, so you know, with an eye on the pennant. The Yanks should be so lucky.


Click here to enlarge.


  • Newmont Mining used to be a core but I sold it a ways back due to my nationalization concerns. Still, if and when it breaks this pronounced downtrend, it might be worth another look.


Click here to enlarge.


  • Hoofy & Boo's new episode debuts tomorrow and it's killer. Wait'll Otis sees this--he'll love this!

  • As always, I hope this finds you well.

    R.P.

Position in GSS




The Emperor's Clothes? - Jay Shartsis - 10:47 AM

I note that the largest percent decliner in the OTC market yesterday was Hudson Highland Group (HHGP).

I have it in mind because it is an issue that has reflected a high short interest. Such issues, as you may know, statistically underperform the market. With this in mind, another high short interest stock, Jos.A.Bank (JOSB) had some conspicuous put trading yesterday that I wish to point out .

8235 of its October 45 puts traded against an open interest of only 188 contacts. The stock has had a big rally from its $22 low a year ago but was not able to challenge its prior peak of $48.12 set in March 2006. So when viewed from that perspective, it's not so hot and I rate it as an interesting short candidate.

Position in JOSB

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No positions in stocks mentioned.

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