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Random Thoughts

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I jockey my weightings based on the dynamic nature of the Minx....

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  • When are they gonna change the rule that allows analysts to capture after-hour price movements? And I officially recommend that everyone who upgraded Google overnight should be flagged!

  • While silver continues to chug to 22-year highs, gold has been basing for the last few months. I wouldn't be shocked to see them swap spots as this is healthy action for a bull market.

  • On the longer-side bucket of my book, I've got both sides of that metal ride, along with some big cap pharma, SunMicro and select energy. On the short-term bucket, I'm simply trying to make some disciplined hay while the sun shines.

  • Can I say GE $35 and Citi $48 again without being redundant?

  • Can I say GE $35 and Citi $48 again without being redundant?

  • Intel is testing my patience--and support. It's at the 2004 double bottom as we speak and, while I've given it wiggle room, I'm not giving it that much wiggle room. Pepe alerted me that $19.35 (on a closing basis) would "reset" the daily and weekly DeMark indicators he's watching and that makes intuitive sense to me.

  • "Toddo, 43 billion! They management of these 2 companies shouldn't be merging. They should be running for Congress! Best, Minyan Dave."

  • Call it a hunch but my sense is that Pepe isn't a big fan of THE CRAW!

  • Watch the drillers here. (Driller? I don't even...) The OSX is ticklin' multiple tops and the 50-day. I still think that the patch and the metals jockey the leadership baton for years to come.

  • Speakin' of thy precious ones, they're on their horse again as the XAU tacks on another 2.5%.

  • Breadth? 3:2 positive as we slither above S&P 1300. Just remember, above support is basing. Below resistance is churning. Also remember that technicals aren't absolute--for instance, Google was churning under the 200-day until the news hit the tape.

  • Michael Thompson, the top research dawg at Thomson Financial, just called to let me know that he and Snoop Tony Dwyer spoke this morning. Those in Ojai will recall that Michael and Snoop joined Weldon, Reamer, Succo and I on the macro panel at MIM2. They were rootin' tootin' bullish at the time and, giving up the snaps, they nailed it. He asked if we were gonna do a reprise at MIM3 and, in the immortal words of Jeff Saut, I said "You Betcha!" This summer, between August 10th and 13th, the Buzz and Banter will be live and in person. Be jacked. Be very, very jacked.

  • Mini-Minyan Mailbag: "Toddo - Help me out here. The NYSE said yesterday that Program Trading accounted for 68.9% of all Exchange Volume last week. Here's the problem I have: with nearly 7 out of 10 trades on the NYSE generated by a computer program, which, if any, of your Primary Trading Metrics (Fundamental, Technical, Psychological, Structural) do you emphasize more? In other words, if 70% of Daily Volume is Program-generated, should I give equal weight to Fundamental and Technical Metrics? Minyan Sean"

    Minyan Sean,

    Excellent question! I jockey my weightings based on the dynamic nature of the Minx--at times, different metrics assume a different mix in the brew. While I rarely "game" programs (I hate playing invisible catalysts), I would offer that many are an extension of the other metrics. In other words, some black box flow is triggered when certain technical, fundamental or structural parameters are met.

  • Eight is enough! After eight cities in as many weeks, my octathon travel schedule will conclude with this afternoon's trip to Toronto . I've got a wedding--no, not mine--and will return uber-early Monday morning. Just sharin' the vibe as I'll be leaving an hour early to catch a flight. Have a great weekend, fare ye well into the bell and have a mindful March Madness weekend!



R.P.

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Positions in metal equities, SUNW, INTC
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