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Random Thoughts


That's my bull!


  • From this morning's Buzz & Banter (10:26 am): "I just turned to Collins and offered that I'm itchin' to sneak a leg into my metaphorical bull costume. Why? BKX 100 (as long as it holds), S&P 1175 (defined risk stop below), the Google (GOOG) action (acne) and a slew of stochastic buy signals. The duck that refuses to quack is the breadth which, as Minyans know, is the single best intraday tell. Still, with the brokers (XBD) up a percent, I'm gonna give it a disciplined shot. One leg into the bull suit (25% conviction on the long side) and stops set below."

  • So why did Pennington take a knee? Every inch counts when you're a field goal kicker!

  • Ramifications of an untreated illness.

  • Don't get any ideas mom!

  • It remains interesting, at least to me, that the Iraqi elections aren't on many trading radars. Perhaps it's a function of conditioning (geopolitics haven't mattered) or relativity (the war is the war is the war) but there are two potential concerns. First and foremost, the safety of our troops. Second, and with regard to the market, psychology remains complacent and convinced that what happens in Iraq will stay in Iraq.

  • I have more meetings than J-Date this week.

  • I've long offered that sentiment is the single biggest bubble in a bath full of trouble. Dr. Minyan Marc Faber touches on that very point in his excellent '05 outlook.

  • A spew that Mr. Depew would like us to review.

  • Some analysts have already projected that home equity issuance will slow down by 20% this year and many aggressive lenders are working on keeping the production engine going. With home prices and interest rates climbing, some originators believe that 40-year loans could offer borrowers lower monthly payments and could entice them to keep on borrowing, said Carlos Maymi, senior analyst at the RMBS group at Moody's in New York. (Thank you Mike Shedlock)

  • Percentage of Africa that is wilderness: 28%. Percentage of North America that is wilderness: 38%

  • Dow 10,400 is the floor to the store.

  • Spit shine!

  • A 20-year-old woman stole OxyContin and Xanax from The Medicine Shoppe pharmacy in Wood River, IL and gave some to her boyfriend, Justin Stalcup, 21, who died of an overdose the next day. Mr. Stalcup's family filed a lawsuit against The Medicine Shoppe, claiming that the reason for their son's death was that the pharmacy didn't safeguard the drugs from the thief. (Belleville News-Democrat)

  • Hoofy got his intial pop and is now staring at "congestion" near S&P 1190-1193. The fact that the financials are leading and the internals are improving bode well for our once bitten bull.

  • "While last week's external market action left a lot to be desired, there were some internal clues that showed that the market improved. 51 groups showed better year-to-date relative performance than the S&P 500 vs. only 33 groups for the week ending January 7. Also, 16 of those groups are in the green for the year vs. nine the previous week." John "if it ain't" Roque (don't fix it) of Natexis Bleichroeder.

  • Collins Trading Radar remains the road map of choice for the critters.

  • I like the Steelers (and can't root for the Pats as a function of the tuck rule) but there's a reason that rookie QB's don't win Superbowls.

  • Bold gold scold via Professor Laurie McGuirk

  • A strong article from Professor Goepfert last week.

  • There are few people whose opinion I value more than the Iron Horse on the potential impact of Ford (F:NYSE) and General Motors (GM:NYSE) debt.

  • Talk about troubling cover bands!

  • My type of woman!

  • "A quick update on the Euro. Previous monthly support at 1.3064 is now turning into resistance. To refresh your memory, that number is an indicator of the monthly trend and it works a lot like a moving average. The first couple of dips to that level were bought, but now it is has been resistance since the market opened Sunday night. I will look for fresh lows in the euro this week and wouldn't be surprised to see probes of 1.2950 and perhaps even 1.2875ish." Minyan Brian S.

  • Frustration, eh?

  • "...Consequently, we think with interest rates and inflation rising, earnings and the economic momentum waning, stubbornly high energy prices (we remain bullish on energy), the social security wild card and the upcoming Iraqi vote, we remain cautious on the equity markets." Jeff "as good as it gets" Saut of Raymond James in his morning missive.

  • Some people will do anything to get on TV!

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