Off Topic and on.. Harry, I had to laugh after reading your post to Thomas on fatal passions for good food... I've taken on the task of singly removing a large oak tree that overhangs my house. I should get a professional crew in but you know how it is once one determines that the impossible is within reach.
The tree is actually five trunks each with a diameter of two and a half feet or so... one decided to twist and turn towards sunlight over the roof and now threatens to split at the base and fall some 20 feet in from the roof edge. Its mass is considerable and would surely articulate a large footprint. I bought an eighty foot 1/2 inch line which after being secured over some higher boughs barely touches the ground. I'm getting a hundred footer this morning from Home Depot (maybe they'll sponsor this foolery), and will attach it to a winch.
Where does 'passion for food' come into this story you ask?
When younger I was the most nimble, lean, do forty chinups scamper up any tree swinging kid (... and modest too <g>). Well last night I got stuck forty feet up this tree trying to tie in some lines to pull it clear of the house when it falls... all because a passion for food has redistributed any climbing prowess. Harry, I was out of strength and courage suddenly, definitly out of my element.
Like trying to get a cat out of a tree by leaving its food dish within sight on the ground.. I lured myself to hug the trunk tightly with legs and arms and slide down with a few scrapes and cuts by promisimg myself if I got down I'd have some dinner treats and a nice bottle of Cabernet.
Any trading significance... I hope not.
Last, some market comments:
I've noticed a more pointed divergence of opinion on where stocks and different markets are going on threads. That's telling of something, though I don't know what. Thomas is very negative on the Japan index even though, or perhaps because, it has gone down so much. The Kahuna's are harvesting gloom and doom and Kurlak oddly is hinting at a semiconductor bottom. Clint's leaning towards a summer rally awareness. Looking just at group performance the semi's certainly are the most oversold and need to rebound some.
The major indexes are forming what appears to me to be a broadening or rounding top with accelerated swings up and down forming a channel between 1075 and 1135 on the S&P500... a depth of about 60 points. The depth less the low end of the range (1075-60= 1015).. suggests we could go to test the top of 1997's year end channel breakout. Earnings would suggest that's entirely possible... but historically interest rates and cash flows have always been more important. Its too tough a call for me to feel comfortable with so I'm going to continue very short term trades on individual stocks. Maybe we'll get that surge of small to mid-caps that we've been hearing about for so long.
Friday showed some candidates.. INTC EFII perhaps long after a first of the week selling is proven or not, 3-4 point trades. DAL looks too high to me, but analysts are pushing the airlines still. Oil is in shambles... have you noticed that lately the buying companies, SLB in this case, have been going down when they announce mergers? The street is seeing that many deals are going to hurt the buyer short term.
Off to Home Depot for more rope.. |
