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Random Thoughts


I sure hope that the SOX can pull the financials and not the other way around.


  • He's a class act and I wish him all the luck in the world.

  • The other side of oligopoly.

  • The Horse had a phenomenal column this morning on the (two-sided) risks associated with the mounting issues in the insurance space. Professor Succo and I have spent the morning discussing the potential ripples across the financial spectrum. It's important to note that derivatives aren't evil products. They can, however, exponentially exacerbate hiccups in the system.

  • Texan (TXN:NYSE) is a listed stock but it's 8% jig is leading the SOX higher which, in turn, is leading to an N's over S's tape. As is typically the case during this dichotomy, Hoofy is looking at the four-letter space while Boo scours the big board.

  • "Clearly, there's an inventory bubble, and the production cuts won't be complete by the end of the quarter," Delphi Chief Financial Officer Alan Dawes said. "Our plans for next year are going to have to take that into account."

  • The Minyanville weight bet ends tomorrow morning. All participants should jump on the scale and send in their (honest) weight. The winner will get snaps throughout the 'Ville. The losers will be asked to donate $100 to the Ruby Peck Foundation for Children's Education.

  • Richard Russell and the gold tussle.

  • Greenspan was on the tape offering that household debt levels aren't "overly worrisome," rising rates will raise debt service "modestly" and, while some households are "stretched to the limits," a national drop in home prices is "most unlikely." He continued by saying that he sees no debt problem without a big income or equity drop and opines that the rise in credit card debt "isn't a sign of stress." other words, our system is alright as long as it's alright?

  • An interview worth reading.

  • I've got a 2pm conference call, 4pm meeting downtown and then will be speaking to the young minds at Fordham this evening. As such, please excuse my absence as we edge towards the closing bell.

  • Yet one more reason to be a bachelor.

  • I added some downside puts in the financial complex this morning before the group dipped. I have been eyeing XBD 130 (brokers) as my line in the sand but have no problem rolling down my stops if the price action warrants it.

  • Crude is off an additional 1.5% while the energy patch (OSX/XOI) sticks green. Why? Accumulation, most likely, as the secular "ahaa!" echoes around the Street.

  • With all the high profile disasters these last few weeks, look for funds to defend the "safe" stocks. This is shaping up as one hairy month end.

  • Dr. Atkins would be proud.

  • The dollar has cracked DXY 87 support.

  • "We are the best 1-5 team in the league, I can tell you that." -Jon Gruden

  • The Red Dye contingent has been whispering "derivatives" for years and been chicken littled each time. At least, that's what Hoofy said as he sauntered to his manicure appointment.

  • 19, 20, 15, 3. (Boone, Bucky, Munson, Babe).

  • The cyclicals (CYC 680) and small caps (RUT 570) are still tetherballing their 200-days.

  • If you are diggin' the 'Ville and would like to offer a gratis month to your firm, please let us know. We rely on our friends to help spread the word and the effort would be much appreciated.

  • "With only 2 months left, most investors are plus or minus a couple percent, which means until the Equity Market breaks out of its range one way or another (you know the direction I expect given our recent fundamental piece) sector bets will continue to be key ." -Snoop Tony Dwyer.

  • Tired from all-night baseball? Shake it off! Earnings are gonna fly through the overnight pipe.

  • Wishbone dressing! The banks and semis are pulling investors in polar opposite directions.

  • Does anyone miss hockey?

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positions in select financials.
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