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Random Thoughts

By

When in doubt, sit it out...or at least wait until the Monday's subside.

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  • Thy precious metals are front and center anew as silver dips a quick finski (5%) and gold dabbles in double digit losses. The bipolar stroller has become old hat, of sorts, as each day seems to be a world unto itself. What's interesting about today's fray, however, is that the smeltage is coming on the heels of a softer US dollar (at eight month lows).

  • My current risk profile remains largely in tact as we edge into a fresh five session set. I'm keeping a very close eye on the brokers, which opened sloppy but are trying to mount a comeback.

  • S&P 1295-1300 is initial support (it's where we broke out) and NDX 1700 (there now) is a similar stand.

  • Otay Stanky! Market breadth is worse than 2:1 in both the old school and four-letter freak land. When internals are this skewed, each tick on the clock brings us closer to our oft-stated mantra that "tapes that are heavy all session tend to end that way."

  • I spoke of smoke in my morning opener. While those vibes aren't "actionable," per se, I'm watching all things financial for signs of sirens. As it stands, the money center banks trade drier than their Duke & Duke counterparts.

  • I suppose there was once a time in my life when I took things for granted. No mas, mi amigo. Not a day passes when I'm not thankful for the blessings that surround me.

  • Mini-Minyan Mailbag:



    Hey Fellas, Did you see the big jump in commercial shorts last week. That doesn't mean crude has topped, but something to keep an eye on. Minyan Adam

  • Note the Homies as they slip back under double secret support (HGX 264)

  • Snapper tried to rally the troops but failed to dent breadth or turn the beat around. As I like to watch my tea leaves for signs of slippage or traction (during this intraday efforts), I just gave a Dom Deluise style thumbs up.

  • There's nothing like a good noodle as we ready to welcome Jeff "As Good as it Gets" Saut for a Sushi reprise.

  • Love to hear the percussion...

  • I attended the Jimmy V Foundation annual fete on Friday. It's great to see so many good people rallying around such a great cause.

  • When in doubt, sit it out...or at least wait until the Monday's subside.

  • We're up to our eyes with Mountain surprises! If you haven't eyeballed the MIM3 details, I would advise you to take a gander. It's awesome baby, particularly with the uber-early bird special that Queen V is offering through the end of the month.


  • R.P.
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