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Freaky Friday Random Thoughts


Good luck Minyans!


  • The long road ahead for social security reform.

  • Boo has long believed that a devalued dollar was the only "out" in the "Great American Asset Class Reflation" but that, at a point, foreigners (who own 54% of our debt) would reach a saturation point both in terms of patience and absolute return. We saw the other side of that coin in January as the greenback rallied 4% at the expense of the metals and equities. Is it as simple as deflation vs. stagflation and, ergo, has the dollar become the proxy in that equation? Nothing is linear when it comes to the markets but the action in the FX markets continues to hold clues for the financial mechanism. Watch DXY 84-we're there now but we wont be there in an hour.

  • Alphabet Soup on the street of dreams.

  • A UPS driver wrecked his delivery truck on icy road near Keene, NH. He suffered a head injury, and was taken to Cheshire Medical Center for treatment and tests. Unfortunately, the equipment needed for the diagnostic tests was broken -- although the parts were on order. Upon checking the status of the parts order, hospital personnel discovered that the parts had in fact been shipped, and were in the crashed UPS truck. Workers were dispatched to the scene of the accident, the parts were retrieved, and immediately installed. (Keene Sentinel)

  • That's one way to avoid a currency contagion!

  • After considerable consternation and anxious anticipation, I will be rooting for--not betting on--the Eagles.

  • Apropos of yesterday's morning missive.

  • A 21-year-old man was hospitalized in intensive care in Murdoch, Australia after a barroom stunt in which he put on a helmet connected to a beer jug, with a hose that ran between the jug and a pump powered by an electric drill. The idea was to facilitate drinking a large quantity of beer without actually having to go the trouble of: (a) lifting a glass and (b) swallowing. Unfortunately the flow of beer was so powerful that he had to be rushed to the hospital with a 2 inch tear in his stomach. (The West Australian)

  • Playing Rummy!

  • Tuck rule aside, it's hard not to respect the Brady Bunch.

  • I think most traders agree that John Thain's proposal to open the NYSE an hour (or two) earlier is a tough nut to swallow. But the sad reality is that the NYSE is getting squeezed out by technology, automation and centralized platforms. I view this latest move as a desperate attempt to do something--anything--to pick up their business. In the end, I'm not sure that it'll matter.

  • "The exchange rate is no longer the cause for concern that it was a few months ago," the source said. "It's not considered a recessionary factor."

  • "Some Republicans are on the verge of repeating Clinton's mistake with personal retirement account schemes that cut benefits, raise taxes and increase the retirement age," Jack Kemp, the 1996 GOP vice-presidential nominee, wrote in a December column. - USA Today, February 3, 2005

  • Super Sunday Minyanfest as we take off our trading hats and put on our football caps. We'll be gathering at ONE Little West 12th Restaurant (across the street from Pastis in the meat packing district in NYC) at 6pm and the focus will be on flea-flickers not stock tickers. There will be a slew of professors, a host of Minyans and a few surprises for those attending the festivities!

  • Snapper popped into the 'Ville yesterday after the NDX 1514-1500 gap "filled" and traders postured into this morning's orange crop report. Today's bands to listen to will include BKX 100-102, S&P 1164-1196, INDU 10,400-10,600 and U2:Live at Slane Castle (Collins already has it fired up). As you can see, we're a lot closer to the high end of these ranges and, if breached, they'll immediately morph into support.

  • Stop, drop and roll!

  • Where...the Beeks? On his way, Minyans, and he'll be unleashing the unemployment rate (5.4%), change in non-critter payrolls (exp. 200k), change in manufacturing payrolls (exp. 5k), average weekly hours (exp. 33.8)--keep dreaming Meehan--and, at 9:45 EST, the Wolverine Confidence (exp. 96).

  • "Great moments are born from great opportunities." Herb Brooks, U.S. Olympic hockey coach.

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