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Random Thoughts


Watch the tape!

  • Tom McManus, BofA's talented market strategist, opines that the new high in the DJIA suggests a shift in leadership, citing the potential for multiple compression and margin squeezes in the small and mid-caps. It's a vibe that should seem familiar to ye faithful.

  • I'm watching market internals (2:1on NYSE, 3:2 on the Nazz) and BKX 106.5 (all-time high) like a hawk--or, a dovehawk as the case may be.

    I'm also watching the dandruff on the NDX and SMH. Which is pointing the techs in an entirely different direction.

  • Answers I Really Wanna Know....
    • So, curling is like a winter version of archery, only cleaner?
    • While Boo doesn't agree with the action in the financials, does he adequately respect the technical implications of a push to all-time highs?
    • Does Spider really have a pup named Misty?
    • Why do some folks insist on playing dirty when there are so many true ills in the world?
    • Is it safe to say that the homies held newfound support at HGX 260?
    • Or that the CRB did the same at 320 despite today's percent pullback?
    • Are you aware that a slew of "buy stops" are sitting on the other side of S&P 1295?
    • Have you seen my baseball?

  • There are "feels" and there are "processes." The former is starting to tingle with a familiar furry feeling while the latter dictates that I stick to disciplined and defined risk.

  • If you could be any character in What's Happening, who would you be and why?

  • I've still got the "long SunMicro common-long IBM puts" pairs trade on. The Sun is a long-term holder while Big Blue is a defined risk dandruff bet. And yes, I'm conscious of the stealth migration back to the big caps. If there wasn't risk, it would be called "winning," not trading.

  • Call it a hunch, but I think "5 Things" is gonna be the "go to" column on the 'Ville each morning.

  • I told you not to squeeze the Charmin!

  • Wasabi Harvard Minyans!

  • Professor Succo noted the continued compression in the marketplace via the sale of 165,000 Microsoft October 30's. This trade is a microcosm for the starvation for income prevelent in today's tape. This spring has been coiling for a long, long time.

  • We eyed Snapper lurking in energy and metals last Thursday (as a function of the multiyear trendling at CRB 320) and they made Papa proud. I missed my re-entry into these long-term faves (always honest) and continue to watch for spots to nibble. Something tells me I'll have that chance.

  • Maybe I'm eating a silly sandwich for breakfast but they wanna put who where? (hint: It helps to hum the Twilight Zone theme song)

  • It's freaky, I penned my opening column before seeing John's vibes on the Buzz.

  • Is it possible to be tri-polar? Highs, lows, and complete indifference?

  • Just another day in Red Dye.

  • What, no braces? Intel is flirting with a teenager.

  • Finally, and I'm only half joking, I had an epiphany last night for a potential blockbuster pairs trade: Buy Oakland real estate and short San Fran real estate. And to think, it's been in front of my eyes for oh-so-many years!

  • Silver bells. Silver bells...

  • Attention Sports lovin' Minyans! A young man by the name of Jon Spivak interned for me while I was helming the Cramer Berkowitz trading operation in 2001. In addition to his 'phone ducking, keyboard jumping' skillz, he left a lasting impression as a fine, young man. Well, Minyan Spivak has resurfaced with a fantastic (and free) interactive sports site that I give the official Minyanville seal of approval. While the kid is still a Quaker, he sports a wisdom beyond his years. Enjoy Minyans, and don't be afraid to offer two-sided feedback. That's how any website gets better!

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Position in SUNW, IBM
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