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Brothers in Arms


Wake up Fokker!


Crossroads, will you ever let him go?
Will you hide the dead man's ghost?
Or will he lie, beneath the clay?
Or will his spirit roll away?

(Allman Brothers)

It's lunchtime in Minyanville and five frazzled friends of ours just stumbled into the office. With the exception of Daisy (who does NOT want to be disturbed), the critters have (slowly) gathered around my desk to check out what's happening. I asked them to lower their voices (lest they wake up Fokker) and sit by my side. Here's what we discussed.

Breadth is minty across both complexes, the semis are studs, the brokers have been given a time-out (by themselves), the banks are re-testing BKX 950, the internets are firm, the homies are drizzam and tertiary tech trades dry. The sideways Sally (at these levels) is setting up for one of two things (discussed earlier) and, if there's a saving grace, it's that we'll know soon enough. So you know (and if you care), there's still flags being offered by respected technical types and I've learned through experience to ignore them at your own risk.

Aside from a pawful of earnings tonight, the catalyst calendar is empty till next week. We do have four witches flying in tomorrow for December expiration and that's sure to add spice to the minxy mix. You'll see some magnets towards pins (strikes) as well as some underlying currents impacting the price action. From a trading standpoint, that has the potential to exacerbate volatility as dealers hedge their negative gamma.

Finally, I wanna thank all the Minyans for the good vibes we've been receiving. This is the type of community where you either 'get it' or you don't 'get it.' If you're reading these words, chances are that you do. We've got big plans for 2004--more value added features and content--and we rely on the Minyanship to help us spread the word. Any help in that regard is much appreciated!

Fare ye well towards the closing bell.
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