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Random Thoughts


Minyans understand that when it comes to philanthropy, our community stands up to be counted.

  • Whatsa matter, cat got your leg? (sorry)

  • So, the PPI came in lower than expected (-1.3% vs. exp. -.7%) but FOMC eyes are still cast towards inflation? Through that lens, my Raiders must be 5-0.

  • These eyes have seen alotta love but today they're focused on the financials (under BKX 114) and Merrill (flattish) as a tape tell.

  • NDX 1670 is the bottom end of a (very steep) trend channel for the four-letter freaks.

  • Look at Mother Nature on the run through the 1360's.

    I hear ya Neil--Turnaround Tuesday is singing to me too. As Boo and his crew chase bids below S&P 1360, the obvious question on the lips of the critters is whether this is a healthy pause or something more. Breadth is nosty, the financials are fugly (XBD -2%), tech is drek (SOX -3%) and the rotation station (into energy and metals? NOT!) has morphed into an outright migration.

    will (correctly) argue that the sharpest corrections occur in the context of a bull run. Boo, for his part, offers that conditioned complacency abounds as a function of the price action and the media cheering. The simple fact is that they're both right and the residual grist will dictate the next leg of this lamb.

    What's my take? It's a multi-linear equation (watch the dollar) with a spectrum of potential outcomes. I don't trust 'em but that, of course, doesn't mean they can't continue higher. What I will offer is that volatility will likely continue and I'm positioned with positive gamma (long premium), with more kick to the downside. And I'm staying very disciplined, making sales into strength and picking into weakness. When that fat pitch arrives, I want the count to be in my favor

  • In Flow's Diner, we saw ETF's of all shapes and flavors for sale this morning. We noted it in real-time, of course, on the Buzz.

  • I had that pesky bear costume in hand yesterday but deferred to the snazzy breadth. I did make some sales, as discussed, and have my downside gamma (which has yet to kick in).

  • "Well, that there is a fascination with the markets and where they are traded. See the chart here. Yet another bubble comparison, with magnitude and shape (parabolic) being very similar. What is it? The NDX versus CME. I have no position here, but can't help thinking this simply confirms that we have switched to an asset based economy. The CME is a poster child for it, no? This is just an observation, folks. VERY far from advice." Professor Bennet Sedacca on today's Buzz.

  • Drugs, not hugs? We eyed pharma out of the gate and the group continues to act dry. Watch the DRG--it's tickling four year acne as we speak.

  • PANIC! The VXO is up 11%!!!! All the way to....11.60. Debbie isn't excited yet.

  • Minyans understand that when it comes to philanthropy, our community stands up to be counted. It's in that vein that I continue to push the December 1st Festivus. It's smart, it's fun and, above all else, it's 100% for the kids. Join us--I promise it'll put a smile on your puss (and some delicious food in your belly)

  • Minyan Instant Message!

    Todd: You saw that the Golden Star (GSS) CFO resigned. Any top line thoughts?

    Minyan Lance Lewis: He actually sent around an email on Friday announcing his retirement--it's a non-event in my view although it could actually mean that he's secured their credit line and felt the timing was now right to retire.

    Toddo: That's an optimistic view, no? It's one of my biggest longs, I'm just trying to stay objective.

    Minyan Lance Lewis: Given the insider activity over the past few weeks, I don't see how we can view it any other way.

    Toddo: Objective Todd would say that the CEO wouldn't buy his own stock if a deal was imminent.

    Minyan Lance Lewis: Right--I don't think a deal is imminent. I'm just saying i don't think the CFO left because of anything bad going on at GSS.... if so, Bradford wouldn't be buying stock.

    Toddo: Appreciate that--but I still can't hear his name without thinking of Dick Van Patten.


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Position in GSS, financials, energy, metals
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