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Random Thoughts


Loose lips may sink ships but loose grips allow for a smoother trading ride.

  • When in doubt, wait it out or, at the very least, reduce the number of positions you have on your sheets. The goal, we know, is to be in a position to use price to your advantage and focus tends to facilitate that.

  • "Merrill Lynch upgraded General Motors (GM) from sell to neutral. First of all, that is impossible. How can you hold something you already sold? The call is based on a list of things. The analyst is making this call based on many things going right and in our view, there is a very low probability of all of them happening." John Succo on today's Buzz (position in GM).

  • Just ask yourself? What would Jack Bauer do if he was in your shoes?

  • This thrust higher this morning wasn't a shocker given Hoofy's ability to hold the fort yesterday.

  • During Boo's probes, watch the breadth and financials for signs of relative slippage. They will speak volumes as to the underlying demand. And if we reverse, expect the semis and biotech to lead the bleed (as a function of their relative underperformance).

  • Don't trade reactive. If you're bullish on upticks and bearish on downticks, you're gonna have a mighty long day.

  • Consistent with my earlier vibe that I wanna focus on fewer cores, I'm likely gonna pare some Golden West puts and United Healthcare calls. I'm not "big" in either, which is my partial motivation for cleaning up my sheets.

  • "The DeMark TD-Sequential sell signal registered last week for the Dow Jones Industrial Average remains active. And it is worth nothing that a TD-Combo sell signal (a more strict count than sequential) may register today if we remain at or above this level." Pepe Depew on today's Buzz.

  • Are you a proud Minyan? Sport some critter gear as we edge into tee-shirt season!

  • Loose lips may sink ships but loose grips allow for a smoother trading ride.

  • The weekly Investor's Intelligence survey finds bullish sentiment dropped to 45.4% from 48.0% while bearish sentiment also declined to 24.8% from 26.0%. Those expecting a correction rose to 28.8% from 26%.

  • Mother Morgan was the first big cap broker to dabble in Red Dye today but has since been joined by Merrill and Goldman. Watch these names as they lead us higher.

  • No, I'm not thrilled with how SunMicro is trading either. Perhaps the "sell the news" crowd needs to punt before the offense can take the field?

  • Is that a flag pattern in the XAU?

  • Don't forget that we've got the Beige Book coming out at 2:00 EST.

  • We've got over 10,000 columns and 50,000 Buzzes in our archives, Minyans, feel free to noodle through 'em.

  • I see alotta unfamiliar names registering for MIM3 and that's alright. I'm quite sure they'll be very familiar by the time we vibe over some mountain S'Mores!

  • R.P.
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Position in GDW, UNH, SUNW, GS
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