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Random Thoughts

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A new low in the financials would bode well for the bears.

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  • Meet the Critters!

  • Ruble Rubble!

  • Friday Night Lights may be the best sports flick since Hoosiers.

  • And you wonder why the dollar is down?

  • Raaaaaaaaaaaaaaaaaaaaaid!

  • The Yankees....the Raiders....the agony of defeat.

  • There are trades for a catalyst, trades for a thesis and trades for the day. You should always remember why you initiated risk when it comes time to assess it.

  • The semis have acted dry all session and are trying to spur the herd. If the financials can find some sponsorship (watch Citigroup (C:NYSE) and its ability to stay above $42), Snapper has a shot. He will, of course, run into resistance at S&P 1100 but we'll cross that bridge if and when it is drawn.

  • Breadth readings have balanced (from the morning slippage).

  • School Daze!

  • Bloomberg reported that Norway's government ended its oil rig conflict. Rude crude front month futes initially burped a percent lower on that news but has since grinded back towards unchanged.

  • Lotsa earnings on the trading radar although it'll pale in comparison to last week's freak.

  • A write-in? Doh!

  • Google (GOOG:NASD) is 5% higher as it continues to add to the post-earnings fad. We know that insider stock will be "unlocked" in the weeks ahead so it'll be interesting to see if the supply/demand equilibrium shifts.

  • Boo is bummin'.

  • NASDAQ 1900 is another level to toss on your radar.

  • I ran into a market "wizard" this weekend who offered that this is the most difficult tape he's ever seen.

  • Chatter of a terror alert was floating around on Friday and while I've yet to hear it today, odds are that it'll resurface before long.

  • Seeing old friends is always good for the soul.

  • I opined a few weeks ago that I expected the downside but respected the upside. That remains my mantra although defined risk and proper positioning allows for both. I tossed on some upside exposure this morning with an uber-tight stop and won't hesitate to remove it if my levels are triggered.

    R.P.
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