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Random thoughts - Snoop style

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I do not believe that the market should go up every day or that it shouldn't pause...I simply chose to look past any near-term volatility and outline an intermediate-term framework.

• If everyone believes the weak dollar is going to hurt domestic stocks and bonds, what happens if it only causes a market pause and then the US Dollar reverses? It is already down 23% since its 2002 peak.

• The argument of secular bull vs. bear isn't relevant to me. The S&P 500 (SPX) hasn't even moved above the last lower high in a clear downtrend of lower lows and lower highs, which defines a downtrend. To repeat - THE SPX HASN'T EVEN BROKEN THE DOWNTREND YET!!! And I am the resident bull.

• A retest of that last lower high would be 1160 or 11.5% above yesterday's close.

• Everyone I have spoken to thinks it is time to rest. That includes me (I talk to myself a lot).

• I am going to Cleveland (home office of FTN Midwest Research) next week...do you think I should tell "trader dude" and his "higher up?" That whole bunny thing kinda scared me.

• My right arm Mike is an excellent young technician and provides the support necessary for pieces posted here.

• I am trying to find a person who loves "beta" right now.

• When I was very confused about the tape, my friend Harvey said "stop thinking and tell me what you see." That was when the S&P 500 broke above 950ish.

• Watch what Brooks writes...he is a real "old timer." Only his wisdom surpasses his age.

• I am going to get it for that prior bullet!

• I love my new digs at FTN Midwest Research. As you have clearly noticed, I post a bit less than I used to. Frankly, it is because I am blessed with a wonderful opportunity to do research and write in-depth analysis for a great firm and awesome client base (Trader dude and Adam!). I want to reinforce that Toddo created Minyanville for the purpose of education. It isn't about right or wrong here, it is about how to get to a viewpoint. The vision of Minyanville was to build a friendly community centered on education. Mission accomplished.
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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