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Random Thoughts

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Is S&P 1210 my last chance to dance?

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  • A different kind of toga party.

  • The chip shtick is good and thick (+2.5%) as the semis edge through the 200-day moving average. I won't argue that the fundamentals in this sector...how shall I say...suck? The bull case, however, is predicated on performance anxiety and participation. They're simply pawns in a much larger OPM game.

  • Ben Bernanke's twin brother?

  • The metals are trying to bounce after yesterday's technical break in gold ($460). I nibbled a bit on my silver plays and left plenty of room for further smeltage. I may be early (or I may be late) but these are longer-term plays and I'm leaving room for further smeltage.

  • President Fish steps into group therapy.

  • The homies are on a roll, so to speak, as the HGX tacks on a 3.3% gain and arrives at our aforementioned spate of resistance (HGX 507-514). If Boo is gonna make a stand, I would think that he's gotta roll up his sleeves soon.

  • Setting the stage for more MidEast rage?

  • And the trannies trade to all-time highs...

  • Keep an eye on S&P 1210, Minyans, it's the 50-day moving average, the previous September breakdown point, the downtrend from the September highs and where we failed in front of Dell (DELL). I expect there to be some "buy stops" nestled on the other side of that wrestle.

  • Poker? I don't even...

  • Phil "my pockets" Erlanger will be taking the stage in tomorrow's Hamzei Analytics chat. I hold Phil in high regard and encourage Minyans to sit in on this intimate communiqué.

  • Exxon Mobil (XOM) $58 remains an important inflection point for the energy patch.

  • Barks and Bite.

  • I've still got two legs in my metaphorical bull costume (50% conviction on the long side). I'm currently debating whether to roll up my stop again (and further define my risk) or take a deep breath and follow the lead from the brokers and trannies. My eyes tell me one thing. My gut tells me another.

  • "The Dow Utilities Index (.UTIL) is a relative laggard out of the gate but so far has been able to hold support here in the 390 area. A move below 388 is a sell signal. For the IDU ETF a move to 74 would register a sell signal while 77 would break a quadruple top." -- Pepe Depew on today's Buzz.

  • I miss Television's JeffMacke ©. Good dude and better friend.

  • The piggies are up 8% from the October lows and is tapping at BKX "par" (100). Please keep close tabs on this sector as the financials hold the key to the year-end vault.


    R.P.
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Position in xom, silver equities
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