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Random Thoughts

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Lotsa buy stops set above S&P 1193!

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  • Cat Man Do.

  • Talk about a Fiat currency!

  • DeView from Lehman technician Jeff DeGraaf: "Bottom line: Look for the market to catch a bid into the third week of the month, but tread more carefully in technology and materials for they have been undergoing distribution. The weakness in the SPX looks to be mean-reverting at this point and has not damaged trend, but a break under 1173 would undercut the December low and imply a more negative outlook for the remainder of the quarter."

  • Breadth seems supportive of a "college try" through S&P 1193 (important near-term resistance). It's worth noting, however, that the financial duopoly is sluggish (piggies and brokers) and participation is sporadic. If BKX 102 pukes simultaneously with (another) fail at S&P 1193, the Matador Crowd will likely scatter.

  • Hansel. He's so hot right now. Hansel.

  • Crude has a 'tude to the tune of 3.5% (higher).

  • I understand that it was "done in fun" but I thought the Randy Moss moon dance was unnecessary. In an age where baseball players are 'roided up and hockey never made it out of the gate, the last thing that sports need is another black eye.

  • Nutcracker Suite? Taser (TASR:NASD) is off another 8% while Sirius (SIRI:NASD) slinks 7%.

  • I was gonna scribe that Apple (AAPL:NASD) $68.5 is an important level on a closing basis but with earnings looming, gap risk increases.

  • Vibes from Minyan Jeff "as good as it gets" Saut of Raymond James: "For the past three years our directional "call" for the major market indices has been generally correct in that we have looked for them to remain "range-bound." We feel the same way about 2005." In the shorter-term (read: tactical) horizon, he notes "So far, the daily pattern for the new year has been "up" mornings and "down" afternoons...until that pattern is reversed, we remain on the sidelines in trading accounts."

  • Housekeeping: I will be traveling Wednesday through Friday and won't be posting to the 'Ville. Pure FYI and thanks in advance for understanding.

  • That musta been some baby!

  • Margins will be a focus when the Mother Chip reports tomorrow. Please keep Intel (INTC:NASD) $22.25 on your radar as it served as support since early November.

  • It looks like I may get a shot at covering my short Woodson.

  • With friends like this...

  • Collins Trading Radar is the best road map on the Street.

  • Meet the Mets, meet the Mets. Come on everybody and meet the Mets.

  • Please note that the VXO, after enjoying some early morning pop, has flipped the switch and is trading off 3.5%.

  • The point I touched on this morning was an important one. While "traditional financials" are the highest weighting in the S&P, "bearded financials" actually creates a much higher "rate dependence."

  • Please keep an eye on the semicaps as we edge through (just another) manic Monday. I'm watching Kla-Tencor (KLAC:NASD) as my proxy in that arena as it trickles under the 200-day and has already breached November's low.

  • Do the Colts have the "D" to get to the big dance?

    R.P.
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