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Random Thoughts

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I would've been one angry heifer if I had to walk all the way to Wall St in the rain this morning!

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  • Explain it to me again....why did the chicken cross the road?

  • Dr. Minyan Marc Faber weighs into the fray.

  • "ASPIRING ROCK STARS, take not. The Ruby Peck Foundation for Children's Education is raising money for charity by auctioning off a Fender Stratocaster guitar signed by 19 financial luminaries, including Warren Buffet, George Soros and Peter Lynch. The foundation was created by 36-year-old Todd Harrison, former president of Cramer Berkowitz hedge fund and founder of financial-news Web site Minyanville.com, to honor Mr. Peck, his grandfather. The auction will benefit children's charities, including Free Arts NYC, Jacob's Cure and Little Kids Rock. The online auction, ends tomorrow at 5 p.m. EST." The Wall Street Journal, December 16, 2005

  • A story about Jacob and his quest for a cure.

  • Not alotta folks saw it but gold got smelted down to $493/oz in the overnight session. Is this a mirror image of the opposite scrimmage (the spike to $540)?

  • While we've been focused on pharma, please note the rather snazzy looking chart on the CMR (Morgan Stanley Consumer Index). I was taught that drugs and consumers were defensive plays and hiding spots during market turmoil. Is this action a precursor to pain or are they simply rising with the broader tide?

  • There's hope for Snapper yet!

  • Keep an eye on the VXO (volatility index). It's thisclose to single digit readings (which has been a thorn in Hoofy's side in the past).

  • The fall from grace can be swift and sad.

  • Google (GOOG) is gonna flicker quicker as the NDX rebalancing merges with year-end performance anxiety on the bell.

  • I watched the story of Pepsi on the History Channel last night. Pepsi was on the ropes prior to the Great Depression and went to Coke, hat in hand, begging to be bought for next to nothing. Coke snubbed their nose at Pepsi and told them to get lost. The brazen attitude and arrogance of the Coke executives served to strengthen Pepsi's resolve and they were forced to be creative. They bought up 12 oz bottles from defunct beer companies and peeled the labels off. They then sold a 12 oz. Pepsi for a nickel, vs. Coke's 6 oz for the same price. Legions of desperate Americans flocked to Pepsi and their sales soared, creating great angst in Atlanta (Coke's HQ). Whereas Coke could have wiped out their principal competition for next to nothing, they got greedy and rested on their laurels, certain that their brand name would forever save them. The rest, as they say, is history, and Coke forever regretted the decision. There are several lessons--and perhaps an allegory or two--nestled within this story.

  • General Electric (GE) continues to wave higher on the heels of the aforementioned pennant and is testing November highs. And all this, mind you, despite the notably absent guitar bug!

  • Remember that we can spy "pin risk" by noting outsized open interest relative to average daily volume.

  • Please keep an eye on BKX 106 as the piggies tickle their all-time highs. Do I agree with it? Nope. But I surely respect it. How this group acts and reacts to this level will speak volumes for the year-end spend.

  • The retailers, pretty in pink this morning, have adopted a more crimson hue.

  • And finally, t-minus 28 hours until our all-star guitar auction concludes. A kind thanks to all ye faithful who continue to spread the word and splash the Fender across a spectrum of networks.

  • Fare ye well into the bell and have a great weekend!


    R.P.
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position in select pharma, metal equities
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