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Random Thoughts


Demand remains in control....

  • The out-of-the gate tea leaves were the definition of snazzy but stealth slippage in select leaders (GS, GE, INTC, YHOO) is quelling the Matador swell.

  • Hoofy will be quick (and correct) to note that market internals have been stellar all session, a sure sign that demand remains in control.

  • Keep half an eye peeled as to the CRB as the commodity proxy probes and prods important trendline resistance at 320.

  • The highlight of the weekend? Not the four scores by Syracuse (although that was one for the ages). And it wasn't the front row seats at the Crowes,which was toe tappin' in its own right. It was the five minutes that Minyan Brooks spent on the phone with the Margarita Maven, bridging human capital across generations in the name of charitable trust.

  • Keep an eye on those drugs as DRG 330ish is a big level for the pharma complex.

  • Five things that tell me we're still in the throws of Mercury Retrograde:

    • I walked into the office this morning at 6:00 and immediately smelled a rather nosty gas leak.
    • Pepe and I, upon telling the building staff , were assured that it was simply a backed-up sewer.
    • As the opening bell rang, a dozen fire trucks surrounded MVHQ to respond to--yep--a gas leak.
    • As I stepped up on the window to get a better view of the action outside, I split my pants down the entire inseam.
    • The "back up" jeans I have tucked away for a rainy day were evidently switched for the exact same pants two sizes too small.

  • We're gonna toss together a Minyan March Madness pool. Much like last year, "losers"--or "non-winners"--will have the option (but not the obligation) to make a donation to the Ruby Peck Foundation for Children's Education. Every little bit helps, Minyans, and alotta kids will benefit from our friendly competition.

  • Fear? That's the other guy's problem with the VXO off another 4% to 11ish.

  • The other side of isolationism. And you know what? We better get used to it.

  • "As investors nonchalantly buy stocks and take more risk, Martin Feldstein just put out a paper that basically agrees with our macro picture of what is really happening. Capital inflows, much needed to finance U.S. consumption and keep the debt ponzi going, are not being supplied by private investors who decide that the U.S. is a good place to invest. They are over-whelmingly being supplied by central banks. There is no excess savings. Central banks are printing money and sterilizing: using that printed money to buy first government, and now risky assets of the U.S. Private investors are being "cajoled" by government bureaucrats to make asset allocation decisions they don't really want to make, but have to. Doesn't this bother anybody else? Does everyone just blindly trust these bureaucrats to make these decisions for them? This is extremely dangerous in the long run." John Succo on today's Buzz

  • I'll be giving the keynote at David Miller's entrepreneurial retreat this Saturday in Cannon Beach, Oregon . I appreciate the ride up the coast, David, but please don't get any frisky ideas!

  • "International Paper (IP) is testing downtrend resistance here in the 34.5 area. A move to 35 confirms a trendline break, basis .5x3 chart. United Health (UNH) violated Pnf trendline support with the move below 56. TD-Sequential and TD-combo 13 "buy" signals are still active, but the violation has raised the risk that any fulfillment of the 13s will be counter-trend and contained by resistance at 57-59." Pepe Depew on today's Buzz.

  • Achtung Baby--the bird flu hits Germany.

  • Fireman may make out like bandits, Danny, but rock stars are in a league of their own.

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