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Random Thoughts to Start the Day

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Only because it's so cold...

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  • It's -25 degrees (yes, that's minus 25) with the wind chill factor and Hoofy's suckin' on a frozen milk shake.

  • Juniper (JNPR:NASD) has assumed the telecom baton on the heels of its better than expected earnings. That's lighting a fire under the group and squeezing the bejezus out of the shorts.

  • General Electric (GE:NYSE) reported this morning and, at first glance, it seems "fine." Their report is always meaty (lotsa moving parts) so I'm still sniffin' it out.

  • Equity funds reported net cash inflows of $5.7B for the week ended January 14. That's the largest inflow since April of last year (seasonal).

  • Fed Governor Poole (what kind of name is Poole anyway) says that the December payroll figure "was an anomaly." Of course it was.

  • It's good to have Fleck back in the flow. He'll be offering his educational insights weekly (via his Rap) and contributing the (soon to be unveiled) Buzz & Banter. Wait till you see this thing!

  • Gold, fresh off its thumpin', will find trendline support at $400. The dollar index, not coincidently, will find trendline resistance at DXY 88 (currently 87). Professor McGuirk will be offering his take shortly.

  • Sometimes the lights all shining on me. Other times, I can barely see.

  • Europe continues to trade firm.

  • S&P 1150--a 50% retracement of the entire bear move--is edging closer. Boo would obviously prefer a spike into that resistance (rather than a grind) and a pick (rather than a scratch).

  • There's a bird flu in Vietnam. Isn't that what they're supposed to do?

  • I don't know about you, but I'm ready for a three day weekend. Heck, I'm ready for a four day weekend!

  • Index options expire this morning, individual equities come off this afternoon.

  • The news is always the best at market tops and worst at market bottoms. That's why so many people miss (or get caught) at the cusps.

  • Traders are tripping over themselves to buy Juniper right now. It was a "great" report (relative to expectations) but it's not the cheapest company in the world. (yikes!)

  • Don't let the tape dictate your posture. If you got bullish higher and bearish lower yesterday, you turned a "nothing" session into a house of pain.

  • Boo. Shrinkage.

  • The earnings avalanche picks up in pace next week.

  • A week ago, I opined that the chasers would be choking by this time. Instead, the tape was vacillated and the indices are relatively unchanged.

  • If you're only trading the ETF's, you're missing the action.

  • Good luck today.
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