Randoms: Step Function!
By Todd Harrison Jun 18, 2009 12:35 pm
Take care of the minutes and the hours will take care of themselves
GreenShoot! 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.
No positions in stocks mentioned.
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