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Random Thoughts


It's a grazy haze today!


  • Minyanville's National Anthem?

  • What happens in Vegas...will likely happen elsewhere.

  • Minyan John Roque of Natexis Bleichroeder opines that if gold can close above $431, it technically "works" to $475.

  • Has anybody ever seen an apple cart?

  • CYC 700, SOX 385 and DRG 300 are all levels to watch during a slow session. That is, of course, in the context of the S&P 200-day below and the NDX 200-day above.

  • I hope she got a pair of boots out of it!

  • Breadth is flat, tone is decent (above S&P 1120), semis are getting Schillinged (Red SOX, get it?), the drillers are gettin' drilled (pullback) and crude remains a battleground. All this on a holiday!

  • The only difference between vision and grandeur is focus.

  • Seven dollar sushi!?!

  • Minyan Jeff Saut of Raymond James-who, in the immortal words of Melvin Udall, is as good as it gets--offers a salient (and familiar) vibe in his morning missive: "Amazingly, energy still represents less than an 8% weighting in the S&P 500 reinforcing our sense that energy stocks remain under-owned and consequently still have "the wind at their back" even if energy only achieves half of the 27% index weighting it enjoyed at the end of the last energy bull market."

  • If you're not printing Collins Trading Radar and keeping it close, you're not taking full advantage of the Minyanville experience.

  • This is old--but troubling--news.

  • A dozen roses woulda prolly worked too!

  • Nine days left on the weight debate and I'm ready to shackle myself in a horse stall ala Jack Nicholson in Wolf.

  • It's a "TA-zer"

  • The drillers are gettin', uh, drilled. Still, there's plenty of room before the first tangible support (OSX 114-115).

  • Professor Fleckenstein offered some interesting vibes from Fed Prez McTeer in his Friday Rap: "Theoretically, some day that process [foreigners funding our current-account deficit] will come to an end, the flows will turn against us and there will be a crisis that will result in rapidly rising interest rates and a rapidly depreciating dollar that will be very disruptive. But I don't know what to do about it. In order to correct it with income growth, we have to have artificially depressed growth pushed down below our trading partners in order to correct it. The other alternative is a depreciating dollar, which I can't talk about. But over time, I think there's only one direction [for the dollar.]"

  • We're big fans of our friends at Raymond James. If you would like to see more of Jeff Saut, Ralph Block and the rest of their team, Minyan Rob Fraim is a good "in."

  • And the Raider reality sets in.

  • I told ya Collins was dust!

  • From Scotto on the Buzz: "Recall from this AM's technical analysis note that we were looking for an "up-down" sequence to trace out 4th and 5th waves. This AM's bounce has largely completed a potential 4th wave (the "up" part) and a new low today would produce the 5th wave (the "down" part) off last week's peaks in the SPX, NDX, and INDU. Tracing out a "5" wave move down from last week's peaks would be important evidence toward the larger bearish interpretation. And it could lead to a 1-2 session bounce back to Fibonacci resistance before resuming the bearish downtrend. Stay tuned, this is a remarkably important time in the markets.

  • Win, lose or draw, the Yanks and Sox deserve each other. May the best team win.

  • Note the action in the nets and semis in front of Yahoo! (YHOO:NASD) and Intel (INTC:NASD).

  • Meet Joe Black?

  • If you would like to offer a gratis month of Minyanville to your network, please let us know and we'll fire it up.

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