Hey is for Hoofy
Banks a lot!
Hey you, out there in the cold,
Getting lonely, getting old, can you feel me?
Hey you, standing in the aisle,
With itchy feet and fading smile, can you feel me?
Is it me--or has this week been another one of those infinite journeys? Man oh man, I totally dig my job(s)--I love writing to my fellow Minyans, I love trading the market, I love raising money for kids--but oofa loofa, I am freidola! My mom stopped by last night and just sent me an email that I looked horrible! Don't pull your punches, Carole, how do you really feel? What gave me away? The puffy eyes? The hair follicles on my desk? The out-of-control facial hair? I'll take care of myself--I promise!
Alright--enough venting--we've got a couple hours left in the week and then it's respite city. Until then, shake it off remain lucid--the choices we make now will dictate our risk profile over the weekend. There will be no excuse for sloppy decisions and you'll only have to answer to yourself. If you're anything like me, that's your toughest critic anyway!
Fed Governor Poon, er, Poole hit the tape with some economic comments and that's worth a read. Other than that, it appears as if everyone's in watch mode. The semis didn't really budge on the earlier sell-off and it seems the group is under accumulation ahead of Morgan's conference next week. Is that bullish--or is that crowded? Not sure--I've got some SMH puts on and they're not doing much for me right now. So you know.
Meanwhile, back at the ranch, AIG is a prime example of a stock that trades "heavy." One of my favoire trading strategies is to identify heavy (dry) stocks in jiggy (melty) tapes--and if the market starts to reverse, those are the names I look to trade first. It's a methodology I picked up over the years and now, through the magic of Minyanville, you've picked it up too. Remember--this is an educational site and I offer these real-time examples as, well, real-time education only.
Aside from the Morgan semi-lovefest, next week will also usher in the Bear media conference, the Lehman healthcare checkup and the Tony Dwyer haircut festival. There's also a handful of economic data, an ECB meeting (expecting to cut) and a truck load of company sponsored meetings. In other words, get your rest friends--we're gonna rock and roll.
I've currently got two legs in my metaphorical bear costume (50% conviction on the short side) and I'm not quite sure how I'd go home. We were a witches nipple away from stopping Boo out (can I say that?) but this reversal is going our way (so far). Still, I'm uber-conscious of the upside and my fear is that the emotional types haven't bitten at the forbidden fruit yet. We've still got a couple of hours to decide--and in this tape, that's an eternity! Stay tuned.
More importantly, I'm getting very excited that our wonderful charity auction is getting close to announcing a winner. The critters have been pacing with nervous anticipation as they wait to find our who they're gonna hug. Will it be Mr. Joisy Soprano with the late whack? Perhaps Mr. World Champion Buc's fan will wear the ring? Maybe it's gonna be George Hill standing on top of the heap? Or will current leader Geoff and his bid of $15,500 take the cake? One thing for sure, my faithful Minyans, the winners in this whole shebang will be Jacob and the children. For that, we should all be proud.
With the utmost sincerity, I hope this finds you kicking some tail today.
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