Tying Up a Tricky Two-Week Stretch for Stocks
Signs surround us as we map our forward path.
When the Nasdaq-100 (INDEXNASDAQ:NDX) was up 20% for the year and performance anxiety was gripping fund managers, we wrote that the buyers were higher and the sellers were lower.
That may seem like a cop-out statement-playing both sides against the middle-but anyone who has read Minyanville-and the Buzz & Banter in particular-knows that signs have surrounded us for some time; all we had to do was open our eyes and pay attention.
With the S&P now dancing at its 200-day, and the NDX down 10% from its best levels in September, I will again ask you to see both sides and remind you to follow our daily tells (Apple, Google (NASDAQ:GOOG) and Amazon (NASDAQ:AMZN) as year-end bang-for-the-buck proxies and the financials-JPMorgan (NYSE:JPM), Deutsche Bank (NYSE:DB) and Goldman Sachs (NYSE:GS), which encapsulate our finance-based derivative-laced global economy, along with market internals and the price action in commodities) as we together find our way.
Good luck today, and remember to be kind to others and better to yourself.
The Ruby Peck Foundation for Children's Education-Minyanville's "giving" arm-will hold our seventh annual Festivus on Friday, December 7 (one month from today). We'll take over Hill Country BBQ, feature three terrific rock bands (U2, Journey, Police covers) and host 500 "thought-leaders" from the business community to eat, drink, and dance (western attire is encouraged). There will be TV coverage and so forth; it's a rocking event (check out the video here).
We always donate 100% of the net proceeds to charity; this year, we are raising money for Jr. Achievement of New York, which will be using the funds to help local area children affected by Hurricane Sandy.
Tickets and donations are great-you can register here-but sponsorships really help us make a difference in the education of children impacted by this storm. Please contact me directly if you would like more information; title sponsors will join me on the podium to ring the NYSE closing bell on 12/7 to officially ring in the philanthropic festivities.
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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 firstname.lastname@example.org.
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