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Trading Blades

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Be good to others and better to yourself!

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You've been bought, you've been sold
You've been locked outside the door
But you stand there pleadin' with your insides bleedin'
'Cause deep down you want some more

(Billy Joel)


Well alrightee then--Beeks freaks, Hoofy speaks and it's now turned into one of those weeks. There's no shortage of opinions regarding this morning's data (or the future of the flickering ticks) and, as always, price will prove to be the final arbiter. That, in a nutshell, is what will separate the giggles and grumbles as we edge towards our requisite two day respite. The bottom line is the final line--at least for now.

The big story today? The payroll spike, the infamous 8:28 release, the composition of the data, the minxy reaction, rotation into tech, purging of volatility, lethargy in the financials, metal smelting, bonds melting, dollar traction, European reaction, bovine satisfaction and the fatal attraction. It's surely a lot to digest and while hindsight will provide clarity, we must proactively make some tough choices.

While the Nazz is jazzy, Hoofy isn't assured a run into the weekend sun. We've long identified the financials as the single most important sector and they're getting roasted like a Laurie right now. The rotation migration is clear--out of rate sensitive names and into the master betas--but can the tape really rip with drippy piggies? One thing for sure, the close will go a long way towards shaping Monday's clay.

Next week will be a short one in front of the bunnies but Alcoa (AA:NYSE) (Tuesday) and Yahoo! (YHOO:NASD) (Wednesday) will officially usher in the earnings avalanche. Yes, Minyans, it's that time of the quarter when corporate America will step forward to be counted. I've heard chatter of isolated downticks (tech) but it'll boil down to the theory of relativity--field position vs. sentiment vs. fundies.

I'm gonna hop so lemme take this time to wish ye faithful a fantastic weekend. Stay on your toes into the close as alotta crosscurrents make this one tough to call. N's over S's remain the theme du jour but equities, by and large, may shift a bit once bonds call it a day. Think positive, remain lucid and remember, Minyans, disicpline is the common thread of any successful strategy.

Fare ye well.


R.P.

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