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A Quick Sniff

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If this Seagate doesn't hold...I may not get held!

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The opening bell is met with a bit of selling and Hump Day is underway. A couple of quick thoughts off the bat:

  • Quest Diagnostics is being added to the S&P tonight and I'm hearing that there are 2300 spoos (S&P futures) for sale into the bell.


  • Watch the Seagate I.P.O (STX)--and it's ability to hold it's issue price of 12--as a "tell" today.

  • Software and Media act well out of the gate.

  • I just saw a Macro hedgie take a million QQQ's.

  • Hearing chatter of an alligator sighting (allocation) out of stocks and into bonds.

  • KMB soiled themselves this morning-should color the soft goods.

  • Morning breadth is 3:2 negative (very early).

Gotta jump.

R.P

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