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Tradin' With the Fat Man

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I told Althea I was feeling lost
Lacking in some direction
Althea told me upon scrutiny
My back might need protection
I told Althea that treachery
Was tearin me limb from limb
Althea told me: now cool down boy
Settle back easy Jim

(Grateful Dead)

I will say--and this is not a trading call- IF the market is going to rally today, early weakness is necessary to shake out the timid hands and build the short base. The continued traction in the semiconductor issues is constructive, but the financials continue to be the most important complex for the tape. In other words, if Hoofy's gonna have pocket change for his big date with Daisy tonight, we need to see the banks shake off the Comerica blow. Watch C (Citigroup) as a proxy for these names.

Still no word on the alligator front (asset allocation), but I have been told that it's definitely out there. I've never been one to trade on catalysts I can't see or monitor, so understand that, while conscious of the potential flow, I won't trade on innuendo. Not my thing.

Doin' my best to get posts out in a timely fashion, but please know that my first obligation is to our investors and my partners. I will always fulfill my role as trader before I start ticklin' the keyboard and, sometimes, the frequency of the column will suffer. Hey...it just is what it is!

On a lighter note, we've called an audible on the lunch front and will be enjoying our first SushiWednesday here at Minyanville. Sharpen those chopsticks, Snapper, we're gonna have ourselves a protein fest! WASABI!

R.P

No positions in stocks mentioned


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