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Beauty and Beholders

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I'm a seller of hope, in size, and I need a tick!

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So, so you think you can tell
Heaven from Hell? Blue skies from pain?
Can you tell a green field from a cold steel rail?
A smile from a veil? Do you think you can tell?


(Pink Floyd)

Greg R.N just walked over to me (humming Puff the Magic Dragon) and said "hey buddy what are we focusing on today?"...to which I replied "I'm watching YOU Fokker!" I mean, jeez, could he have worse timing? When the market opens, my left foot could be in a blender and I wouldn't notice. I'm looking for the Minxy smoke signals among the muck and I'm focused on the tape. Come on kid, this is the big leagues and it's a far cry from your cat milking days in Motown--step it up!

A few initial thoughts to start Hump Day in Minyanville. The internals are fugly out of the gate with losers smoking winners 3:1 across both sectors. My eyes are fluttering between that, the financials in general (and JPM in particular), the Semis (MU), Cisco (acts great), the consumers (rotation), storage (for signs of follow through), the retailers (hearing that they're a "crowded" short ahead of retail sales tomorrow) and,

Thus far, Boo's crew is holding court but it's uuber-early and we should stay on our paws. If the market opened higher today, I was planning on sneaking another leg into my metaphorical bear costume (to make 50%) but we didn't get that "fade" opportunity. That's kewl though...opportunities are made up easier than losses and I'm looking forward, not back. That's where the profits are, Scotto!

I've seen some macro selling out of the gate and, as we speak, some shooter just walked in and bought 25,000 QQQ March 25 puts. Typically, I'd think that flow is "contra" but there are other variables I'm factoring into my mix today (trin, 10-day p/c, sentiment, ect). Regardless, my short side schnitzel yesterday was "toe dipping" and, as such, I'll set an appendage "stop" at BKX 790. If we continue lower, I'll roll that stop down but, either way, it's nice to start the new year with a little jingle. Wasabi!

Meanwhile, I would be remiss if I didn't urge you to support your local Minyan and stop by Main Street at your convenience. We've got great apparel, some kick-ass art and delicious Brent & Sam's chocolate chip cookies over there. Plus, 10% of the proceeds at Harrison's will be donated to The Ruby Foundation for Children's Education and, hey, what could be better than a little karma in your camp?

I hope this finds you well, Mon Frere...be back.

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