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Random Thoughts for the Witch!

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Hit 'em hard Minyans!

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  • Sticky Witches may make Sammy's day and ward off "drafty" volatility until next week.

  • Pronounced rotations tend to last more than one session. We've seen that "in" (energy) and we've seen that "out" (financials). Now we'll see if it has only just begun (drugs, semis). Professor Roney is sniffin' it all out.

  • So--do the bulls want a few muted reports so rates take a chill or further signs of economic traction? Do the bears want to see robust growth (and spiky rates) or an economic downtick?

  • An upbeat economic view from Matador City.

  • A sniff of housing from Red Dye Junction.

  • Yes, there is an argument for inflation, deflation and stagflation--if there wasn't, there wouldn't be anything to discuss. My humble vote is given to the underdog, which is sluggish economic growth coupled with a high rate of inflation and unemployment (the stag monster).

  • There is a coordinated agenda in play to stimulate growth and "manage" unemployment and inflation rates. That is the "risk" to the stagflations theorists.

  • The purpose of the journey is the journey itself. Keep repeating it until you really get it.

  • It was great to see Minyan Michael Santoli weigh in with an honest assessment from a long-time Yankee fan.

  • LL? A phase, I guess, but I've been an old school fan since his Radio days.

  • If you're gripping the handlebars too tight, your minxy ride is likely to be quite bumpy.

  • S&P 1123ish--S&P 1134 is the tightest near-term range. The NDX is huggin' the 50-day like a kid leaving for sleep-away camp (NDX 1450ish is support). SOX 500 is now resistance. BKX 94.20-95 is support (BKX 98 resistance).

  • Does the Minx act fantastic given the piggy slaughter or is the graffiti on the wall.

  • I can't believe that the Yanks are in Boston this weekend and I'm in Boston next weekend (when the Sox play at the stadium).

  • If you're not reading the Buzz (desktop tool), try it...you'll like it! It's a much more dynamic platform for our daily dance.

  • Elmer on the tape talking tough on investment crimes but he didn't mention the economy or monetary policy (he'll do that next week).

  • In his stead, the Fed's Broaddus is jaw-boning the recovery that "appears to be gaining more momentum."

  • IBM (IBM:NYSE) had positive "chatter" in hedge circles yesterday but just didn't deliver up to the whispers.

  • Nokia (NOK:NYSE) won't help the tech situation either although the stock is already 36% off its March high.

  • As I said to Succo last night, they could certainly bounce...but a 10% haircut could happen justlikethat too.

  • What's for lunch?

  • Good luck today.

    R.P.
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