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Random Thoughts

By

There's nothing to fear except fear itself!

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  • That's Gross!

  • I understand the concept of having good taste in restaurants, but why would somebody have good taste in clothes?

  • A quick little factoid from uber-technician John Roque of Natexis Bleichroeder: 92% of stocks are above their 200-day moving average while only 72% are above their 50-day moving average. That stat argues that the long awaited correction is already underway.

  • The financials (BKX) have started to slip a bit while the semis remain bone dry. That's a recipe for N's over S's.

  • Why are the semis sticky? Because they got crowded on the short side and, more likely than not, traders are eyeing the trendline/stochastic/down 10% thing we talked about earlier.

  • I've got a tennis ball, a football and a mini-basketball sitting on my desk. What balls!

  • A few years back, I made a living on identifying sector rotations. That trading "theme" is back and is likely to continue.

  • The dollar has bounced slightly off its lows but remains under pressure. Gold is begrudgingly up $3.

  • My all-time favorite movie--bar none--is Uncle Buck.

  • We've seen a few S&P futures sellers coming in at the same time. The market dips and (thus far) absorbs.

  • There's too much tit for tat going on.

  • Happy birthday to Mattison Reinecke in Italy!

  • Watch the retail sector for signs of squeezage. I'm being told that the shorts have piled in lately.

  • Minyan Erol Tamer forwarded me this link. Kinda cool.

  • The quest of life is the quest itself.

  • We're starting to see some profit taking in the semis. Someone just booted 4000 Texas Instruments (TXN:NYSE)puts.

  • With Kerry making a statement in some polls, the focus on the economic data will intensify. Remember, this administration has promised jobs. If Friday's payroll data doesn't show improving trends (after a weak December), the screws will tighten a bit.

  • Are you trading or gambling?

  • Sir Chambo (Cisco (CSCO:NASD) takes center stage after the close (just like he likes it!). Expectations are for an EPS of .17 ($5.302B revs) this quarter and EPS of .18 ($5.4B in revs) next quarter.

  • Arugula. It's a vegetable.

  • If Snapper does his thang, look for tech resistance at NDX 1515-1520.

  • Don't forget to keep an eye on crude.

  • The internets trade heavy again. Remember, they typically turn before the rest of the tech tape.

  • Sorry Dorothy, you're limited to two margaritas tonight!

  • NYSE breadth is flat as a (insert an analogy acceptable to J-Dog).
  • I've been cutting down on the carbs big time. Is it bad that I've started taking spoonfuls of peanut butter and dipping it in jelly?

  • The Average Fokker.

  • The JJ/JT fiasco was no boating accident.

  • Did you read the first Random Thought?

  • I've got a midday lunch meeting, fyi, so I'm otherwise occupied.

  • My grandfather always told me that at the end of the day, all you have is your name and your word.

  • I'm a MOG--half man, half dog. I'm my own best friend!

  • The biotech acne is still in play.

  • Rotation station: Out of gold names, internets and banks. Into semis, retail and software.

  • I have to remind myself that some birds aren't meant to be caged. Their feathers are just too bright. And when they fly away, the part of you that knows it was a sin to lock them up DOES rejoice. (Shawshank Redemption)

  • I sure do miss Snoop Tone sometimes.


  • The semis (and biotechs) are potentially Snapper's best friend today. The breadth (not great), banks (pink on the inside) and internets (I'm down!) are the potential thorns. I still think he's gonna try to get his groove on--but that doesn't change Boo's bearish stance (it just may interrupt it).

  • 13 days till the earth moves and the Minyans rejoice!
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No positions in stocks mentioned.
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