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Hump Day Randoms


Good luck on the Hump!


  • Educational inflation?

  • I left the 'Ville naked last night after legging out of my metaphorical bear costume (one appendage was removed in front of the FOMC minutes and the other was stopped out near S&P 1184). We chronicled the particulars real-time on the Buzz as the action quickly unfolded before our eyes.

  • Do I think there was anything "clarion" revealed in Elmer's diary? No, I think we saw the typical vernacular that has become the hallmark of the Fed jawbone. There will continue to be a ton of noise as we toggle between perception and reality.

  • Minyan Fari Hamzei--who you will be seeing much more of on the 'Ville--has alerted us to this potential roadmap. He's as sharp as they come so please take a peek.

  • This is NOT the type of stuff that will help a man reestablish his reputation.

  • How are American manufacturers expected to compete globally?

  • Can we continue to rally? Yes--while layers of tranched resistance remain, traders (and the media) tend to reactively rationalize the flickering ticks (read: things are "good" higher and "worse" lower).

  • Keep in mind that there will be a "stealth pull" to S&P 1200 as a function of structural pull (expiration) and technical fulfillment.

  • "You must never delude yourself into thinking that you're investing when you're speculating. Speculating becomes morally dangerous the moment you begin to take it seriously." Benjamin Graham

  • Eight is enough!

  • The greatest trick the devil ever pulled was convincing the world that he didn't exist.

  • Fish would skin me alive if I leaked August 18-21 for Minyans in the Mountains II but as he keeps Madison Avenue hours, I'm safe...for now!

  • Despite the sharp Snapper that left Boo huggin' the wind, the NDX remains in "churn mode" under NDX 1500ish. If they're gonna scare the bear, the semis better grab a baton.

  • Tell the truth-during the ascent, were you bullish or bearish?

  • Critter exploitation.

  • Does the 8% drop in the VXO matter? Not until it does, cookie...not until it does.

  • Raaaaaaaid!

  • The Investor's Intelligence survey is hot off the presses and the latest poll finds the Matador Crowd has slightly shrunk (46.2 vs. 47.9) and the Red Dye cry has stayed the same (29 vs. 29.2).

  • Ever get the sense that you're being socially extricated?

  • Keep an eye on Citigroup (C) as 1) it's the most important stock in the universe 2) it's edged above its 200-day and 3) it reports earnings on expiration Friday.

  • The Box Trot.

  • It should never take something bad to make us remember we've got it good.

  • Apple (AAPL) and Advanced Micro (AMD) will spin their yarn after today's close.

  • com•pla•cen•cy n. A feeling of contentment or self-satisfaction, especially when coupled with an unawareness of danger, trouble, or controversy.

  • Not to pour salt on the fresh wounds but this specialist probe was a long time coming. There has been so much fat in the system for so long, the regulators are shooting fish in a barrel as they thumb back through the calendar. That's not to paint the group with a broad brush--there are a LOT of honest, hard working professionals in the pits--but there are certainly some snakes as well.

  • Levels to watch: S&P 1190 (1200), NDX 1500ish, BKX 98 (99), XBD 144, DXY 85.20.

  • Dick ARMS had a pretty snazzy call right in front of the rally. A lot of bandwagon bulls emerged after the fact.

  • Wait a minutes!

  • Good luck GC.

  • Housekeeping:

There are alotta moving parts behind the critter scenes and as we consider ourselves ONE community, you know we like to share. We introduced Vitaliy Katsenelson Monday and we'll soon roll out three new professors--folks you know and will find of Minyan value. We are also getting close to announcing particulars for the Minyans in the Mountains II and you'll "see" why we've been jammin' so hard (hint: it's not in Crested Butte!).

Anyone who attended last year can attest to the power of the Minyan network and the strong vibes shared by all. There will be keynotes, presentations, panels and break-outs as we build upon the experience. There will also be golf, tennis, softball (of course), tasty food, cold brews, spa services and an ol' fashioned ho down! I'm not supposed to share the dates yet (see above) but you'll know everything soon enough.

And finally, as Minyans are people too, I will share that a close friend is getting ready to say goodbye to her mother. It's heartbreaking at every level and makes me stop to think of all the people I sometimes forget to stop and think of. I don't share this as a downer--I do so because it's entirely too easy to lose perspective while working so hard. Pardon the hypocrisy, but please remember that we work to live--we don't live to work. There is a much bigger picture out there.


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