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Random Thoughts

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Some mid-day Tina Turner, Toddo?

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  • First to fall over when the atmosphere is less than perfect...

  • Fats Domino.

  • "So many Americans have filed for bankruptcy - one in every eight households, by one estimate - that many people say the social stigma is gone."

  • The internals have yet to confirm the upside.

  • What's love got to do with it?

  • Goldman (GS) is edging ever-so-closer to our aforementioned resistance ($107.50).

  • Remember, Amazon (AMZN) is a retailer, not a pure net play.

  • Why is it so easy to gain weight and lose money? Shouldn't it be the other way around?

  • The dollar is quietly edging to session highs (DXY +33 bips).

  • Patience is simply another form of discipline.

  • The other side of isolationism.

  • "Triangles are notable patterns for a number of reasons, first and foremost of which is that they precede the final move in a larger pattern - in this case, the entire bounce off the SMH lows from April 15th. So the potential for a triangle here suggests that a thrust up and out of this consolidation could occur very soon (next handful of trading hours) but that once complete, should end the entire bounce off the lows of April 15th and then lead to a decline substantially below those 15th lows." -- Scott Reamer on today's Buzz.

  • Contrary indicator or beginning of a glacier-sized shift in public perception?

  • Are you ready for some football?

  • Brown Boots!

  • I offered yesterday that Goldman (GS) looked ripe for a gripe under $107.50. That isn't advice, it's a simple assimilation of the technicals and the daily news.

  • "I am not a believer in conspiracy theories. But the Fed's behavior since the late 1990s is starting to change my mind." Morgan sage Stephen Roach in his always excellent Morgan missive.

  • Job losses, eh?

  • I offered this morning that we'd likely see an upward probe before a sterner test. My sense is that there's still a bit of room in that scenario.

  • Please note the level in Citigroup (C) as it edges closer to the dandruff levels. $47.50 is where the world's biggest financial supermarket "broke" and it's where some supply should start to fill in.

  • Settle down Meehan!

  • The drugs continues to bide their time above DRG 325

  • There is a classic battle unfolding at S&P 1163 as Hoofy tries to trigger "buy stops" on the other side of nirvana. With the NDX quickly approaching 1460 and the DJIA a stone's throw from 10-4, I am admittedly wary of the vaunted pop & drop. The tone and tenor of this lift will offer ample clues--look for leadership, volume and breadth as we collectively find our way.

  • Minyans in the Mountains. August 18-21st. Details to follow in the next few weeks. Thanks kindly for your patience.

  • Some days you're gonna be the windshield and other days you're gonna be the bug. We gotta take the good with the bad and aim for consistency.


    R.P.
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