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Random Thoughts

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Are you bullish or bearish based on the last tick?

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  • I'm watching the flat VXO with wide-eyed wonderment. It's not something Hoofy wants to see. Regardless, the Matador Crowd has a few things going for them. For one, breadth is skewed 2:1 positive. For two, the financials are sticky green today. For three, S&P 1300 is back underhoof. And fo sho', if the negative Microsoft news doesn't dent the tape soon, a fresh chorus of "can't get 'em down" will surely echo with laughter.

  • A tale of two dandruffs? Pharma confirmed the reverse head & shoulders (with a trade through DRG 335) while the tech remains ensconced in a more ominous pattern (under 1700).

  • Keep an eye on those Homies, Homes, as the HGX pulled back to both the 50- and 200-day moving average.

  • Mini-Minyan Shobin Mailbag: " Tom Hanson writes awesome stuff! He's one of the only guys I know who could be an effective leadoff, as well as cleanup hitter. I will offer that the surest path towards trading success involves the following steps : 1) Developing a system with premeditated reasons for getting in and getting out – it helps reduce "noise" and increase focus. 2) Being mentally prepared – having as many, if not more, do's than don'ts in your mindset; deciding, before the open, all of the contingencies which might make you act during the day – if you didn't think about "it" before the open, "fugeddaboudit" – be courageous, add to winning positions. 3) Be prepared for the emotional aspects of the business – it's really tough, nigh impossible, to eradicate emotions – but that's OK, cuz emotions are part of our humanity – but over emoting can be downright debilitating – be prepared to feel certain emotions following successful and losing trades – this will reduce the possibility of being suffocated by your humanity. 4) Marrying well. Sidebars: The thing that many of my peers agonize the most about is not the losing trade, but failing to stick to the system – also, many folks tend to suffer the loss more than enjoy the win – I'm right there. See you guys at MIM3!"--Steve Shobin, Vice-Chairman, Americap Advisors.

  • We're in brass tacks mode as we finalize the venue for Minyans in the Mountains III. Msgrs Saut, Shobin, Santoli and DeMark have already RSVP'd to join our snazzy roster of Minyanville professors. It's Auggie 10-13, so you know, and it's gonna be a stone cold groove!

  • I don't sense that we're gonna see another downside reversal today. I may be wrong but that's my gut feel at present.

  • We're hearing chatter (again) of a possible iTunes iPo to be announced at the company's annual meeting in April. This rumor has been making the rounds since February and comes and goes in intensity and frequency. The rumor could also be related to the French government's move to force the company to open iPods and ITunes to work with other digital music products.

  • Answers I Really Wanna Know...
    • Which fades first, GE $35 or Citi $48?
    • SOX over BKX?
    • Are you bullish or bearish based on the last tick?
    • Or are you in a position to use prices to your advantage?
    • When will the quarter-end jockey shocks begin?
    • And will a higher tape spark some interim performance anxiety?
    • Is Rotation Station the place to be as money jockeys from the financials to the semis to pharma to energy to the metals and back?
    • Do you think Pepe is excited for the next American Idol?
    • Are you mindful of your good fortune?
    • Is Succo still pissed about his MIM2 softball scrubbin'?

  • I'm still there in the silver plays but Minyan Franklin's observations a rattlin' around my keppe. These are, so you know, in the "longer-term" bucket of my book (as opposed to Intel, which is a pure trading try).

  • It was Mrs. Doubtfire...in the Pantry....with the candlestick!

  • Why do we offer white light in the 'Ville? Because family, friends, health, happiness, balance and perspective matter. That's not to say that money doesn't--we know better than that--but when push comes to shove, and health turns to sickness, bank accounts pale in comparison to the important things in life.

  • Fare ye well into the bell and have a mindful night.

R.P.

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positions in intc, sunw, select pharma, silver stocks
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