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More Random Thoughts


The VIX is still down--no fear!


  • For purposes of today's discussion, S&P 840ish was the five day uptrend--it's officially violated and this initial sell pressure is related to technical stops in the market.

  • Tony put up a great SOX piece this afternoon.

  • Obviously, I meant no disrespect to Earl Anthony in my previous Random Thoughts--I had no idea he passed away. I was simply looking to reference his excellence.

  • The chatter on the dollar is beginning to get "louder" on trading desks.

  • Thus far, there's been sellers above but buyers below.

  • I watched Liar Liar last night--great flick!

  • This afternoon at Morgan's semi conference: DELL, NVDA, ALTR, WDC, IM, SANM, SMTC (among others)

  • The relative outpeformance of the S&P (vs. the NDX) is evident in the price action, the breadth (negative in the N's) and the main tells (BKX vs. SOX). Last week, I switched my trading eyes from S's to N's on the short side. It was an early feel, but the disparity is starting to become more pronounced.

  • Neil Glassman brought his own bowling ball yesterday and his bowling shirt has a big, script "L" on it. Tell Squiggy!

  • Tomorrow's earnings: BJ, COST, DISH, MSO, OMX before the opening, AZO, KSS, HOTT after the close.

  • You're never long enough when the market rallies and always too long when it fails--that's just what it is.

  • Zoe walked up to me this morning with a kitty litter all over her nose and I didn't have the heart to tell her how foolish she looked.

  • GM prodcution numbers on the tape.

  • Big negative reversal in the banks.

  • If you can identify the easy trade each day--or each week--you'll take a lot of pressure off yourself. Think fungo, not upper deck.

  • The cannibal/clown blurb is my favorite joke of all time.

  • When I carry overnight risk, I prefer if it's defined in some capacity (options). This environment has gap risk both ways!

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position in smh, s&p
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