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Afternoon thoughts

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· I keep hearing that the market is oversold. Over the past two days I have shown you roughly 10 charts that cover all the major indicators over the near and intermediate-term. As I recall, not one showed an oversold condition.

· This is an educational and entertainment driven site. I don't know about you, but I am learning a heck of a lot and really laughing hard at times. Good thing people already know I am crazy.

· Last night my son said; "hey dad, he who smelt it dealt it." Farting is as funny now as it was when I was my kids' age (8&6).

· In order to get anything more than a one-hour or one-day wonder, there needs to be the next big buyer. Who is that going to be and what will bring them in? The way I see it only a really cheap market (cheap by historical standards, not cheap relative to bonds) and/or a washed out market could provide a catalyst for the next big continual buyers. Neither are imminent.

· When everyone stops looking for positive divergences (especially me) is when you will know the market is washed out enough for an intermediate-term rally that could last longer and go further than most expect.

· While on air at CNNfn, there was a lot of talk of "why did Blix write about the newly discovered violations (unmanned drones and cluster bombs) of Iraq but talk about the increased cooperation?" Good question!

· Price support in bear markets is about as useful as price resistance in primary bull markets. Saying a price support is valid is like watching a speeding truck heading toward an intersection saying, "he really should stop at that red light." In a bull market it would be like saying, "the light just turned green, but he better wait because it might turn red again.

· This decline may be sparked by Iraq, but something bigger is behind it. My guess is that the "deflation" drumbeat is likely to heat up. My buddy that manufactures wire hangers in Hackensack, NJ tells me China is flooding the market with products that are selling at 30% below his cost to manufacture. Tough to stay open in that environment -unless you move your manufacturing overseas.

· Do you think if Toddo rubs my shiny scalp a genie will come out? He keeps mentioning it so often that it is infatuation (read - jealousy) or the knowledge of something imminent.

· Who was better than Daisy Duke? "Goy joy...get 'em flash"

· I thought the whole movie "Scooby Doo" was great, but when Scooby passed gas, I thought my kids were going to pass out from laughing so hard. Wasabi?

· Despite the environment, I still love my job and the people I work with. How come happy people tend to hang out with happy people?

No positions in stocks mentioned.
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