3 O'Clock High: Speaking for Everyone...
Get busy living or get busy watching the ALCS.
Minyan "The Earl of" Bruce, writes:
I think you might be mistaken about what you call "worst major-market showdown ever." Aficionados of baseball have been waiting to see the White Sox in the playoffs for over 20 years. Since baseball is riding a wave of popularity that began in the mid 90s with the emergence of all these new stadiums, the race for this division pennant will not only be exciting, but will blow the "SOX" off the ratings as well! Speaking for everyone may not be the savviest thing one can do today. GO White Sox ...
Also, Apple (AAPL)... poised to break out?
I stand corrected. It should have read "Speaking for every man, woman and child in America who isn't currently wi-fi'ing from a White Sox fan orientation meeting, the ALCS will be the worst major-market sports showdown in history."
In terms of blowing the Sox off the ratings, were I to make a betting market based on the (deeply flawed) Neilsen audience ratings figures, I'd put the over/under for the ratings decline (this year's ALCS vs. last year's) at 25%.
That said, ratings may only decline 10%, should the ghost of Joe Jackson emerge from centerfield to have a catch with Ray Kinsella.
Regarding Apple, which reports tonight, the stock is off nearly 10% from the recent intraday highs and, as Prof. Peppy reported in the Buzz last week, the stock broke an uptrend for the first time in months.
Could they pull an absurdly over-hyped rabbit out of the hat again tonight? Maybe. I think the baby-breakdown in Apple in particular and the tape in general since the end of September could be the (somewhat) natural process of bids drying up after the end of quarter mark-up period.
The options look pricey in a 16-VXN world with October 52.50 calls at a 1.75 ask and the same series of puts offered at 2.80. Also weighing into my "I'm not playing Apple" thinking is the fact I've been beaten like a Donna Summer Album on Disco Demolition Night every time I've opened my mouth about Apple.
So I'm out of the Apple trade. Besides, I'll be busy tonight helping the ghost of Charlie Comisky find some discount champagne; we're going to sell it for $10 per cup on the official White Sox Bandwagon!
Talking my book...
I have yet to buy even rental/ trading longs in any specialty names but I could get interested if this selling water-torture should become a tradable deluge (read: If we get some panic in the street instead of the current whining).
The romance between Billy Meehan and Mimi, his flu-carrying-Indonesian-Chicken-mail-order-bride has cooled somewhat. It isn't Mimi's ailment (she remains asymptomatic); Mbop simply can't handle the humiliation of her not letting him win a single game of tic-tac-toe.
- Plenty of controversy regarding yesterday's rigged election of "Red" as Professor Red Katsenelsen's official nickname including some emailers accusing me of anti-communist sensibilities.
Do I feel bad? Have I been rehabilitated?
"Well, now, let me see. You know, I don't have any idea what that means ... To me, it's just a made-up word. A politician's word. What do you really want to know? Am I sorry for what I did? There's not a day goes by I don't feel regret. Not because I'm in here. Because you think I should. I look back on the way I was then. A young, stupid kid who committed that terrible crime. I wanna talk to him. I wanna try to talk some sense to him. Tell him the way things are. But I can't. That kid's long gone and this old man's all that's left. I gotta live with that.
"Rehabilitated? That's just a BS word. So you go on and stamp your form, sonny, and stop wasting my time. Because, to tell you the truth, I don't give a [rip]."
And with that, I'm off to Zihuatanejo.
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