Greetings from New York, where I'm frantically trying to catch up to the market after a full, strange day out of the markets. Here's what's grabbing my eye as I prep for Fast Money:
 

• Two former Bear hedge funders doing the perp walk today, just one week after Lehman Brothers (LEH) chucked Erin Callan under the bus. Let's just say this: The financials may be trading well today but it's not because these three folks have been expunged from the fray.
  
  
• Crude's acting rude to the longs. Is the top in? Seems unlikely, though not impossible. If I had to trade it (and I don't) I'd be eyeballing about $105 as an entry point on the USO with a 99.50 closing stop. The trend may act like Worm in Rounders but it's still your friend, of sorts, until it's broken. Crude ain't broken yet.
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• Speaking of weakness I wouldn't mind buying, Nike (NKE) is pulling back ahead of reporting next week. Wanna know how good Nike is? Pull up a chart of UnderArmour (UA).
  
  
• In answer to a few emails, yes, I'm fully aware that DryShips (DRYS) and Genko (GNK) aren't in the business of shipping Chinese-produced underwear to Bentonville for Wal-Mart (WMT). My points were A) wide-ranging business expenses ramping for everyone and B) companies selling stock generally deserve a little pause.
  
  
• Motorola (MOT) and Yahoo (YHOO) are getting beaten senseless this week. Mr. Icahn is a sharp and successful cookie but activism isn't all angry notes and elbows.
  
  
• Plenty o' reasons to be dubious of the financials for an investment but you have to respect the price action in the XLF today. Of course, I respect the genius of Pet Rocks as well, but I didn't buy any of those.
  
  
• With that I'm off to make-up. Have a safe and restful evening, Minyans. I'll be back with more, earlier, tomorrow.

Is there another Bear Stearns out there?
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