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Randoms: Step Function!

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Take care of the minutes and the hours will take care of themselves

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  • Green Shoot! Caterpillar (CAT) 3-months sales were down 43% in May.

  • Requiem for a Dream? Taking a step back, dual support (50- and 200-day) in the S&P is an intuitive spot for Hoofy to circle his wagons ahead of quarter-end.

  • With that said, and consistent with the recent road map, S&P 920 is the near-term line in the sand and S&P 950 is the Mameluke line in the sand.

  • The action in the financials is clearly the most bullish thing on my screen today (other than Hoofy, of course). Breadth is balanced at best, offering a potential cause for paws.

  • Big picture, and one guy's humble opinion, I still believe we're traversing through the widow's peak of a "W."

  • This tape turns faster than Sandy flipped Danny (and me, for that matter).

  • "Short-term, we are very oversold but intermediate trend indicators continue to deteriorate. For instance, the Lowry Buying Power Index is at its lowest point since March 11th. Two days after the bottom... that's not good." --Minyan K-Daddy

  • Minyan Jeremy spoke in class today and asked, "Toddo, you opined last fall that unemployment would likely exceed 20% before the downturn was over. Do you still feel that way?"

  • My response was that, according to pre-Clinton calculations, we're already there. And yeah, I still think we've got room...

  • The market is never wrong although we can make the case it's not exactly efficient given the stimulative steroids.

  • There's no denying balanced regulation is a positive step (albeit one that should have been taken before it was a function of "need"). Please keep in mind, however, that it does little to cure the underlying disease of too much debt.

  • We're not "politically affiliated" in the 'Ville, which is to say the only time we'll banter on the Beltway is when it impacts the financial sphere. With that said, the only Congressman who consistently says things that make my head nod in agreement is Ron Paul.

  • Did you hear about the new Palindromean Urban Jewish brand? It's called Yo-Oy.

  • The bogie on that radar-both ways-is Research in Motion (RIMM), which reports earnings tonight. Please keep in mind that front month vols are fatter than I am (and that's no joke).

  • Artists taken before our time? Jimi, Stevie, Duane...

  • Do Something Joel. You never know how far a positive pebble will ripple in the pond of life.
R.P.
No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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