Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Petty Putty


You're getting soft Toddo!


And the sun went down
As I crossed the hill
And the town lit up
The world got still

(Tom Petty)

The 'Ville lights up and the critters are walking on eggshells. Why? Fokker is in a helluva mood! "I'm not having a good day," he began, "I ran out of COLD water, the bus was 45 minutes late, I forgot my keys, the bus then ran out of gas, the trains weren't working, I didn't have enough money for a cab, I hitched a ride, we got a flat, someone stole the car...there was an earthquake...a terrible flood...locusts...IT WASN'T MY FAULT, I SWEAR!" Funny thing is, I didn't even know he wasn't here until he called!

Back to life (back in reality), the Minx eases open and the crosscurrents have already begun. With the somewhat soft GDP out of the way, there's talk on the street of "month end marks." Quarter (and year) end gamesmanship is typically more pronounced but that's what some are discussing this morning. I never play catalysts I can't see but if this comes into play, it'll likely be in the last coupla hours. Lotsa trading before then, so let's take a look at what's what.

I'm watching Cisco (CSCO:NASD) on the heels of Nortel (NT:NYSE) as a tech traction tell. Nortel has been a vehicle for the "telecom's back, baby!" trade and it's currently meandering through the hat sizes. The semis (and semicaps) are equally important (they're the most crowded subsector) as are the internets (relatively more traction early) and biotechs (down a quick percent). The other four-letter fantasies are nondescript with software and storage hangin'.

Across the way, the frisky financials are on either side of unchanged, the homies are trying to find their footing, both the cyclicals and consumers are dancing red (General Motors (GM:NYSE) dragging), oil service holds its bid (seeing call buyers) and the drugs are givin' a little back. The breadth is better in tech, the macro stuff is boring and early indications are for an "N's over S's" day. In level land, S&P 1020-1040 is the current range and NDX 1515 will act as initial resistance (if and when).

I want to be more bearish (and wouldn't be shocked by a down day) but I'm staying tight with my main tells mixed. It's not necessary to play every move, it's only important to have a high win percentage on the trades you choose to make. At the end of the day (month, year), it doesn't matter how you got there, it only matters that you do.

I'll be back.
< Previous
  • 1
Next >
position in qqq
Featured Videos