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Random Thoughts


Good traders know how to make money but great traders know how to take a loss.

  • The mainstream media is asserting that we're in the financial equivalent of Nirvana. That sounds great...unless, of course, you're Curt Cobain.

  • Don't believe the hype? Evidently--after all that and then some, Google's uber-anticipated earnings report proved anti-climactic. The options markets were pricing in an 80 handle move, according to Doctor J, and I would imagine that the $500 strike straddle sellers are smiling wide this morning.

  • Many thanks to the folks at CNBC for putting together a snazzy affair last night. I particularly enjoyed bonding with Herb Kelleher, the Chairman of Southwest Air. His vibes on entrepreneurship and "the journey" resonated at a number of levels and we enjoyed alotta laughs away from the huddled masses.

  • After a move like we saw yesterday, the upside probe this morning made sense. We've since softened although our tea leaves remain constructive. NYSE internals are 2:1 positive (Nazz again lagging), emerging markets are firm and, perhaps most importantly, the Russell 2000 is enjoying acne above the RUT 800 level.

  • The caveats--I mean, other than a recessionary signal from the ISM? Slippage in any of the above, a lift in the greenback or the word "Nirvana" being used to describe the financial climate.

  • S's over N's in a big way today (as noted by this morning's breadth disparity). If we run, the S's should lead. If we slip, the Nazz will bleed.

  • Chatter continues to swirl that structural buying is behind the bid in the metals.

  • Watch your tells, watch your back and watch your watch--we're less than two sessions away from our requisite two-day Superbowl respite!

  • Good traders know how to make money but great traders know how to take a loss.

  • I gotta tell ya, those off-balance sheet columns (OBS) are hilarious. Hardcore Buzzers should know that we're gonna stick to the nuts and guts stuff on the Buzz but for and life in general? A little levity goes a long way.

  • "For the first time since 1996, the SP500 finished higher for the 8th consecutive month. And the DJIA daily chart has not seen a 2.5% correction since the fall of 2006 (longest streak since the 1950s)." Professor Roney on today's Buzz

  • I'll offer that the FOMC wants to raise rates but they may need to lower. If and when that ease arrives, it'll prolly be reactive (sloppy tape) rather than proactive.

  • Pepe and I had a deep debate with Steve Leisman last night regarding the strength of the economy. I like that dude--he's smart, focused and passionate about his beliefs. Even if I don't agree with them all. The friction between opinions is where education resides.

  • Speaking of the economy, did you vote in today's poll?

  • Tonight's NYC Rolling Bones Minyanfest is shaping up to be a humdinga. Feel free to swing by and cut a rug with your fellow Minyans.

  • Cameo Randoms from Minyan MMM…

    • I wonder whatever happened to the career of Helen Hunt, which evaporated after she dumped her husband Hank Azaria, who went on to make a vast fortune on The Simpson's. It has to hurt that Moe the bartender, Apu the Kwik-E-Mart owner, and Police Chief Wiggum are looking more popular at this stage of their careers than she is.

    • The most unsurprising stat from the sex survey? "And while having sex with multiple partners simultaneously was less important to both genders, more than three times as many men cited it as a benefit than women did," Grove and Prince said. That's a big 10-4.

    • As a Buzz & Banter focused user, and until Toddo pointed out what has been developed on University of Minyanville, I would have never known what great stuff was there because I spend 99% of my time on B&B.

    • Many MBA programs now have focused investing emphasis, such as Cornell. You probably have to see these students on the web cam portion of Lone Wolf's Fast Money show. How about offering discounted B&B subscriptions deals through MBA schools?


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