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Random Thoughts

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S&P 1050-1055 is in my sights!

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  • I've heard a lot of conflicting chatter now on the Microsoft (MSFT:NASD) window. Some are telling me that it's been open (hence the relative weakness) and the selling is almost done. Others are saying that it'll be under distribution until the second week of December. Just an fyi.

  • I don't like how the financials are acting. Boo does.

  • Is KLAC's (KLAC:NASD) recent reaction to earnings (down 7) a head fake thought heading into Applied Materials (AMAT:NASD) tonight? Expectations are lofty though...

  • The breadth continues to act well today. Thus far, it hasn't "corrected" with the pullbacks (bullish) and, as such, the chances of a downside reversal (today) are diminished.

  • Watch the dollar, please. It continues to be under pressure and is trading on its session lows.

  • I continue to feel that this is Boo's best chance at redemption. That doesn't mean it's today's business but it's "out there."

  • I've seen a few million QQQ to buy (on a cover).

  • "For three hundred years our history has been marked by the alternations of 'prosperity' and 'distress' which are produced by the booms and their collapses. When the collapse comes, the people who are left long on goods and land [and stocks] always make a great outcry and start a political agitation. Their favorite device always is to try to inflate the currency and raise prices again until they can unload. . . . No scheme which has ever been devised by them has ever made a collapsed boom go up again." - 1896, William Graham Sumner

  • Fannie Mae (FNM:NYSE) acts like pooh but it's approaching the 200-day moving average (68.30) as the stochastics are about to "hook."

  • Yes, I know you're not supposed to get a flu shot when you're not feeling well. My (excellent) doctor advised me to get the shot, however, as I didn't have a fever yet. And no, his name isn't Dr. Rosenrosen.

  • I have rolled most of my November paper out to December and January.

  • I'm building a laundry list of short candidates.

  • Check a borrow on that Woodson jersey.

  • Europe remains firm.

  • The corporate bond market reaction to Ford's (F:NYSE) S&P rating cut (and stable outlook) is a bullish input.

  • Gold just shot up $8!

  • Is it feed a fever, starve a cold? Or starve a fever, feed a cold? I never can remember.

  • Sorry Neuman.
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position in qqq, amat, fnm
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