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Whiskey Blue

By

Just call me Al GORE!

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Well show me the way
To the next whiskey bar
Oh, don't ask why
Oh, don't ask why


(The Doors)

I've gotta tell ya, my friends, this action sucks the energy right outa ya! My keyboard died at 3:45 (I was unable to navigate my systems) and despite my aggravation, I couldn't even muster the strength to stand up and yell at Fokker! I swear, kid, if hear the slightest hint of a giggle out of you I'm gonna publicly flog you at Minyanfest! Come to think of it, you're getting flogged whether you giggle or not! Off with your head!

Hump Day was a wild ride and a lot of traders I spoke with are not leaving as happy campers. The whippage began from the word "go" when the false Osama capture hit the tape. From there, it was an up-down-up-DOWN-UP endeavor and if you weren't razor sharp and super tight, chances are you took a beating, Henry Hill. Quick--somebody call Janice Rossi in 2R!

The late day upside reversal was impressive (but squeezy) although there's a few irky items worth mentioning. The breadth, despite the jiggy futures, never confirmed the upside (both sectors closed with more losers then winners). Further, the rally took us right back to S&P 806 (resistance) and the bottom, while still "in tact" doesn't feel very stable. On the flip side, the semis held their bid all day and that lent to another N's over S's performance. I never did pull the trigger on that pairs trade but the concept continues to intrigue me.

We could certainly see some upside follow through as the bulls run with the sentiment but I'd keep the champagne in the fridge for the time being. We still need to find some clarity on the U.Nity issue (one way or the other) and, while Hoofy took today's battle, the war is far from over. For my part, we did the Texas two-step with our imagery and (luckily) stayed out of harms way. I'm dragging my (bare) bones home relatively flat and conscious of the risks (both ways).

On that note, lemme sign off as I need to squeeze a workout in before my head pops. The stress is at DEFCON levels and if you don't find a healthy way to release the pressure, it's only going to make matters worse. Turn it off, tune it out and find some balance. If you don't figure out a way to moderate, you'll likely burn out before we reach the finish line. And that, my friends, would be a shame.

Have a peaceful night.



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