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Random Thoughts


It's Friday, Minyans-shoes off, eyes open, head high.

  • Minyan Alex from the land down under put this latest twist on the Minyan radar. As Minyans recall, I opined that Wednesday's gold rush "felt" geopolitical (Iran) to these old eyes. After reading this article, that sense gains incremental credibility.
  • I luckily played frogger with Herbie the Love Bug (discipline over conviction). The question now is whether, or should I say where, I recheck HRB on my Red Dye laundry list.
  • "Note that we have another new high in the equal-weighted CRB today. On what planet is this considered to be Goldilocks? See Goldilocks vs. Not-Goldilocks." Professor Lance Lewis on today's Buzz.
  • I mean, did you really think they were gonna change the name of the show to Yang's Anatomy?
  • Keep half an eye on the greenback as it probes the DXY 84 level. Slippage through there could lead to further drippage. You know my take--IF the market is to sustain a rally, it must continue to come at the expense of the dollar.
  • Does anyone else think that John Denver was underappreciated?
  • I want my, I want my, I want my MVTV....
  • "We've now seen two days up in row for the Russell 2000 with the same two days of negative breadth. This has not happened since May 2003 (the next day was up, then crunched for two days). This is also the first time this year the Dow was down two days in a row with the Nasdaq 100 up those same two days (and incidentally, only the third time since the 2002 low). Combined with an incredibly tight six-day closing range in the SP -- and the outside day, inside day, outside day SP three-day pattern -- I think the net net net result is we'll have a one sided day today." Professor Jason Roney on this morning's Buzz
  • Minyan Mailbag! "Hi Toddo, This is in response to your link on the coming gold rush a couple of days ago. This is a must read as well. Regards, Minyan D-Wayne"
  • Alrightee then, as geopolitical chatter makes the rounds and the collective sub-prime discomfort permeate, traders trudging through Freaky Friday find themselves at our levels of lore.
  • S&P 1450? BKX 119? EEM 117? Who wants to be a trader!?!
  • It hasn't paid to fade the bulls but today's trade has a somewhat different feel to it. Perhaps it's the action in the financials, which are showing signs of breaking rather than bending. Maybe it's the tough talk on Iran and the implications thereof. Or possibly it's the fact that we haven't had a down day since 1847 and we're in the early innings of bovine denial (before migration and--gasp!--panic set in).
  • Honestly, I don't know--but I DO know that I've stress tested my portfolio seven ways till Sunday. I like what I own (GSS, SUNW, ITT, PHO, among others), dig the gamma (I'm a spate of cheap puts in the financials) and I've got powder to play either way. I will say this--with the VXO trading with a ten handle, today's 7% lift notwithstanding, the potential for an uptick in volatility remains very much in play.
  • Hey, maybe it is as simple as watching the SENSEX after all?
  • It's Friday, Minyans-shoes off, eyes open, head high. Our requisite two-day respite is a few short hours away. Fare ye well into the bell and have a mindful close.
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Position in metals, financials, GSS, SUNW, ITT, PHO
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