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Scratch and Sniff


Suck it up Fokker!


The Minx gets set to tell her tale as Fokker eyes the garbage pail. I will say this, Minyans--there was a whole heckuva lotta love in that room last night. If perception is reality and dreams are forged from the collective will, the critter mission will live long and help many. Thanks to those that made our first annual holiday Festivus a huge success. I love you man!

Looking at the Minx, the fear within me grows and I sense there will be roses that punch us in the nose. Goldman Sachs (GS:NYSE) and Mother Morgan (MWD:NYSE) are the first flags of the day as both issues are down a deuce. I don't have to tell you how important the financials are--rotation or no rotation--and I'll be watching the piggies with a piqued interest this morning. Think cart, think horse, think smart...and think about what's important in life (Jackson Reamer, our prayers are with you).

The tenor of the tape has been Pavarotti but I'll offer once more the only thing that'll shift psychology is lower levels. If they can poke through the Saddam high (S&P 1082), we could see a coverfest. A trade below yesterday's lows (S&P 1071ish) would be the first clue that something is rotten in DenMark. Those are the levels that warrant half your eyeball this morning.

With the spanky banks and sticky green semis wishboning out of the gate, we get the first sense of "N's over S's" in a while. The master betas--internets, semicaps, biotechs--are the natural "go to" groups for performance chasers. There's also the old school industrial pool that's floated nicely in recent sessions, so watch for signs of rotation. In Flow's Diner, I've seen a couple million SMH to buy (cover) and some chunky QQQ buy orders to boot.

As always, I hope this finds you well. And wake up Fokker--this is the big leagues and we play in pain!
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