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Random Thoughts

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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.

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position in sunw, financials, metals
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