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Lost and Found

By

We're going to Sizzler!

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Run, run rabbit run
Dig that hole, forget the sun
And when at last the work is done
Don't sit down it's time to start another one


(Pink Floyd)

Wanted: Mojo. Last seen in December during the Razor's Burn. Potential locations include the south pacific and Midtown Manhattan. Please return to Toddo. Reward on delivery.

Well, in the immortal words of Ed Coury, sometimes you're gonna be the bug and sometimes you're gonna be the windshield. Boo did his best gnat impersonation today as he spit into the upside wind and took it right in the eye. Now, as we eyeball the closing bell, a few things warrant a mention before we close 'em down and call it a day. Remember cookie, the mechanics of the swing are more important than incidental contact. Over the course of time, slow and steady wins the race.

At the risk of being redundant, at the risk of being redundant, BKX 800 and SOX 330 are clearly a focus. If the financials--which I consider THE most important sector in the market--can poke through, we could have a dead man's party (who could ask for more?). As Hoofy pointed out from the diner this morning, the fact that it's early January has clearly emboldened portfolio managers. After all, the market can't be down four years and a row...can it?

A couple of quick caveats (both ways) from the Grinchy Toddo. First, the odds that we get further pre's (earning's misses) are pretty good. Given the psychological sea change, I'm not sure how the market digests them but, regardless, understand the potential. Also, Factory Orders will be a focus tomorrow morning and if we get a strong number, the doubters will likely towel toss. Finally, the cynic in me keeps wondering if we're setting up for a turnaround Tuesday as traders "sell the news" on a stimulus package. Actionable? Not sure...but I wouldn't be me if I didn't communicate the thoughts in my crowded keppe.

Admittedly, I wasn't as sharp as I would have liked on my first day in the new digs but I learned a long time ago to smooth the process. In other words, don't let yourself feel too good when you win and don't stick a fork in your eye when you lose--it's all about consistency (and ball bearings).

On a personal note, I'd like to welcome all the new Minyans from Puglisi & Company as well as my new friends down the hall. You'll quickly find that we'll win some and we'll lose some in Minyanville...but we'll always be honest and operate in a manner consistent with who we are. At the end of the day, it's more important who we are rather how we are.

Have a peaceful night.

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