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Random Thoughts

By

Play to the masses, eat with the classes. Play to the classes, eat with the masses.

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  • As discussed this morning, the tape had every excuse to break last week but held our tri-fecta levels (S&P 1445/50, BKX 119, EEM 117). That, as much as the private equity mojo, lent itself to the early upside exhalation, which has since abated.

  • Consistent with Professor Roney's Buzz on Friday, the SOX was the first of our "majors" (key sectors) to flip the Red Dye switch today.

  • There's an old marketing adage that says "Play to the masses, eat with the classes. Play to the classes, eat with the masses." I suppose the same can be said for investing, as evidenced by this article highlighting how 'smart money' is fading Al Gore's moment in the sun.

  • While today has a distinct "S's over N's" feel to it, I continue to spy the financials as the key to the afternoon action. Please note the latest leg lower in Goldman and the brokers.

  • I don't know where Dow Chemical (DOW) goes from here but please know that I "heard" this private equity chatter a few weeks back.

  • S&P 1450 and BKX 119. Right here, right now.

  • Does S&P 1445 "matter" more? Depends on your risk appetite.

  • Keep an eye on big pharma as a potential Rotation Station beneficiary. DRG 350 is nice and defined risk in that regard.

  • Look at you, the XAU! The metal proxy continues to trade en fuego as it approaches daddy's technical nemesis.

  • It was frigid in Gotham this weekend, which lent itself to 110" of pure plasma pleasure. On the docket were two never-before-seen flicks, Donnie Darko and The Notebook. The former was a very strange, dark dance while the latter was a winner (despite the chick flick status). There was something about Noah that had a very Rubyesque feel to him.

  • What a tease! Claire Standish, er, Stores (CLE) is in detention after the NY Post reported that it couldn't find a private equity buyer. Shocker in this environment, eh?

  • Remove yourself from the babysitter, Joel, the days of risky business are behind us.

  • If TXU is worth $45 bananas (those are BIG bananas), how much would SunMicro fetch in private equity land?

  • Driller? Yeah, if you're a bear. The OSX, after exhibiting dry eyes in the face of fugly crude (remember that?), recently caught some wind in its technical sales, er, sails. OSX 200 now becomes a bovine backstop for those in that camp (with a short-term horizon).

  • Watch the financials, cookie--if that log rolls over, we'll all be red.

  • Answers I Really Wanna Know…


R.P.

position in sunw, financials, metals

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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