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Random Thoughts


This is my kinda tape!

  • I said a Boom Boom Boom, lemme hear ya say Helo, Helo!

  • The Craaaaw!

  • Heads up, Timmy Leary, pharma is approaching important support at DRG 320.

  • Heinz R' Us? The VXO is drippin' another 4% as Sammy slithers across our screens.

  • Succo and I will hold a Town Hall Chat at Harvard tomorrow. Area Minyans (who don't mind pinstripes) are welcome to attend.

  • The chasm between the banks and the brokers continues to widen and one of these sectors will prove 'telling' (as the other offers an opportunity). We eyed BKX 101.5 remains important support and the last technical support before BKX 100 (200-day). Remember, Minyans, as go the piggies, so goes the tape so keep an eye on these issues.

  • No ice cream for a week!

  • "Breakdowns, as a percentage of total breakouts, have begun to creep higher, with the numbers over the last week essentially even. What is astounding to us is the fact that less than 50% of all S&P issues are above their own 50-day moving average. Even as the market expanded to recent highs, that percentage continued to deteriorate, suggesting a weakening internal picture. The percentage of issues at a 20-day high also failed to keep pace with external price data, making the internal weakness more pronounced. Interestingly, the Commitment of Traders' data suggests that the latest weakness is not finding support from commercial hedgers as their net short positions persist into weakness." Lehman's talented technician Jeff DeGraaf

  • Consistent with Thursday's real-time vibe, I'm eyeing IBM as it edges under the right shoulder of defined dandruff. No mush intended, just making sure you're seeing what I'm seeing. The 200-day ($81) becomes the intuitive upside stop.

  • There's been a monster buyer of the Cisco Feb 17.5 calls ahead of tomorrow's earnings. That's bearish on the margin (looming supply) but not actionable in and of itself.

  • Revenge is a dish best served cold. ( Syracuse alums have long memories).

  • Note the slippage in the Homies (HGX 260 is big), the traction in the semis (testing the downtrend line from the January highs), and snappage in the metals and energy (long term winners but, again, a tad toppy in the near-term). The (downside) Google (GOOG) reversal is also worthy of a mention.

  • Keep an eye on GE $32.50, yet another support for this wounded General.

  • It's been a long few days for the critters as they were holed up in Hollywood all weekend, took the red eye back this morning and will scoot to Bahston tomorrow. The purpose of the journey is the journey itself, we know, but Daisy is already thinkin' of her Friday night face plant.


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Position in IBM
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