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Monday Morning Point Guard


Soul singin'


In my mind
I'm goin' to Carolina
Can't you see the Critters
Can't you just feel the Minyans

Good morning and welcome to the madness of March. It was a wild weekend for sports fans as we watched improbable runs and chosen ones reach for their dreams. With conference crowns nestled on campus keppes around the country, the greatest sporting event in the free world is set to begin. The next few weeks will encapsulate the full spectrum of human emotion, from nail-biting victories to heart-breaking losses. And, of course, we'll see some exciting hoops games to boot.

My weekend was spent in splendid South Carolina as the Queen and I delivered the all-star guitar to Minyan Brooks. One of the true gifts of Minyanville has been the ability to share hugs and handshakes with fine folks from around the globe and these last few days were no exception. After breaking some ice in Myrtle Beach with the Black Crowes, we logged vibe time in Charleston and soaked in the historic city. Many thanks to my old school friend, both for his generous support of the Ruby Peck Foundation and his above and beyond southern hospitality.

Alas, it's time to shake the champagne off the Big East championship trophy and dive into the minxy muck of the flickering ticks. With March expiration waiting in the wings, we power up our frisky pup to find merger mania running wild. Between overseas drug hugs, financial consolidation and paper plays, the Monday mood has the Street upbeat. That should embolden the brokers, which, in turn, will tell the tale for the broader tape. And as the financials hold the key to our broader fortunes, we'll wanna keep close tabs on how these piggies perform.

Other noodles of note on this minxy Monday tote? Glad you asked....

  • With heavy metals freaking out the Street Friday morning--and the XAU down 22% from where I punted some exposure--I openly opined that I was officially in shopping mode. Metal equities bounced a bit (and they're looking higher this morning) but I'll again say that I'm viewing this as a longer-term play rather than a short-term stay. In that vein, I wanna scale (not take) and leave plenty of powder for further slippage.
  • Rolling down the street, smoking INDU? While I rely on the S's and N's as my two-pronged proxies for the tape, my eyes can't help but spy the DJIA chart. The sideways slither above 11,000 smacks of basing (rather than churning) which, of course, is going the wrong way when we look at the textbook dandruff in the NDX.
  • Fannie Mae continues to make headlines by not making headlines. News this morning that they're unable to file their 10-K--and that their 2004 results won't be done until the second half of 2006--speaks to the smoke that is swirling in this swag. This silliness has been happening for so long that alotta folks have put it in the 'pay no mind' club. But make no mistakes, Minyans, this monster counts the world's largest financial companies among its counter-parties. If Aunt Fannie is sick, which she seems to be, this pandemic would put the bird flu to shame.
  • And finally, we're fielding a ton of questions about this year's Minyans in the Mountains financial seminar. I will share that, after narrowing the venue to a field of ten, we chopped it to a finski a few weeks ago and have now settled on our championship match-up. Yes, Minyans, our August 10-13 retreat will be in one of two places and we'll have that news for you in short order. Thanks kindly for your continued support and we look forward to the group gaggle this summer. Human capital, above all else, remains the foundation of our family.

Good luck today.


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