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Random Thoughts

By

My kinda weather, and a green tape!

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  • Mr. Hand's stand.

  • Minyans in the Mountains II will take place in sunny Santa Barbara August 18-21st. We will have further details within the next few weeks and (limited) tickets will be available in early May.

  • With all due respect, Treasury Secretary Snow supporting a strong dollar policy is like Fat Albert endorsing Slim-Fast.

  • Breadth continues to give Hoofy the intraday double thumbs up.

  • If you're living on the east coast, do yourself a favor and find five minutes to step outside, soak in some life and breathe the beautiful day.

  • Duck!

  • As General Motors (GM) dips to fresh session lows (-5%), the brokers are starting to show concern. Please see the Goldman (GS) and Lehman (LEH) action as the XBD flirts with the flat line.

  • Why can't I shake the image of Frank the Tank singing "Dust in the Wind"?

  • Keep Kla-Tencor (KLAC) on daily radar as a tech tell (in the face of Novellus).

  • I opined on the morning Buzz that alotta folks are breathing a sigh of relief as they believe we've weathered the worst of inclement weather. I'm kinda looking at this as the brief ray of sunshine before the perfect storm.

  • Monkey see, money do whatever he wants.

  • The CRB, after an 8% haircut in the last month, is tacking on 1.5% today. If we're operating under the assumption that the reflation trade is a tide that lifts all boats (crude +2.5%, metals jiggy, Brazil up a deuce), this bodes well for the equity swell (at least for the time being). Potentially myopic and certainly non-linear but worthy of a mention as we assimilate the landscape.

  • If you look closely, you can see Hoofy dancing somewhere in the middle of muck.

  • "While in the brewing-weakness department, I'd like to close with another installment from the Real-Estate Mania Chronicles, this one based in Boston: "My sister's contractor was telling her that he just bought two homes, one to rent and one to live in. The best part is that he was able to buy both homes with no money down. He figures he'll unload the rental property when it appreciates. The crazy thing is, this guy went bankrupt in the late 1980s because of a bad real-estate investment! How often is this story repeated all over the U.S.?" -- Professor Fleckenstein from his always insightful Rap.

  • Please note the new and improved home page. Minyanville is all about building a trusted network and we aim to surround ourselves with the best of the best.

  • Target (-3%) is weighing on the retail sector and "fits" with the stagflation theme.

  • Hoofy will be quick to note the uber-level that is CYC 700 (and they bounced there while oversold).

  • "As of now, our models are suggesting that all the minimum pieces are in place to call the corrective bounce off Monday's lows complete. From basically current price levels we can expect to see the downtrend resume. Recall that we "can expect some sort of 'reaction' at DOW 9967, SPX 1126, and NDX 1355" as per our Monday note, meaning that a multi-session bounce could materialize from those next target levels without disrupting the downtrend which we believe points to DOW 9639 and SPX 1092 in time. Not offering advice, just trying to keep Minyans updated on the probability distribution of trend here." -- Scott Reamer on today's Buzz (11:44 EST).

  • With Intel (INTC) and Yahoo! (YHOO) reporting tonight and Caterpillar (CAT), United Tech (UTX) and JP Morgan (JPM) in the morning, we could and should see some posturing into the afternoon session.

  • Be yourself sir. No matter what happens, they can't take that away from you!


    R.P.
No positions in stocks mentioned.
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