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Hunger Strike!


This is no way to start a week!


The opening bell tolls and another week in Minyanville is underway. In addtion to the flicks and ticks, I think I solved all of my diet issues! Forget Atkins, drop the zone and stop counting calories. You wanna lose weight? Get this stomach bug I've got and you'll never eat again! Oy vey is meir!

Turning our (starving) attention towards the tape, the banks stand out on the sell-side as they've given back almost 1% out of the gate. The frisky BKX 725 level continues to plague the group as they just can't seem to overcome that hurdle. In addition to the money centers, I've also been watching the brokers in general (and GS in particular) for early morning guidance.

Morning breadth is 2 1/2 to 1 negative, the semi-caps are trying to assert some leadership, storage is a bit slippy (negative weekend article on QLGC), energy has an early bid, the VIX held it's 200-day moving average (thus far) and, ex-LOW, retail has yet to hold a bid. Also, I'm being told that there are some good "sell stops" below S&P 835 (if and when).

As a function of discipline, I've made small nibbles (on some shorts) into the opening drek and I'm currently weighing WHERE to place a stop on Friday's late day appendage add. I'm admittedly torn between using the S&P 855 level as a stop (on one leg) vs. using any rally beyond that as an opportunity to build further shorts (into S&P 870). I haven't decided yet but as soon as I do, you know I'll pass it along.

As always, I hope this finds you well.
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