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Random Thoughts


The action into the close will shape sentiment into Cisco.

  • "Come on Fish, Disney wasn't started as a cheese company!" (Overheard late last night as Kevin and I discussed the critter mission)

  • Keep an eye on those pesky internals as they've been skewed 2:1 (negative) all session. The longer they stay paved that way, the higher the probability that we close heavy. And yes, posturing into Cisco (CSCO) could affect the drek.

  • Thank you MJ for all your efforts to make the Elizabeth Glaser Pediatric Aids Foundation Carnival a smashing success!

  • Vibes from Snoop Tony Tone of FTN Midwest Securities:

    Yes, the equity market is overbought, but a look at a commonly used technical tool on a weekly chart yields some potentially exciting information

    In bull markets, when the 14-period stochastic reaches deeply into oversold territory and regains momentum, the SPX is up an average of 31% over 15 months.

    Even in Bear Markets, when the 14-period stochastic reaches deeply into oversold territory and regains momentum, the SPX is up an average of 6.25% over 6 weeks.

    There is no debating the market could retest the recent low after a 3.6% rally in a few weeks. We would use any overbought pullback as an opportunity to add to equity exposure - especially given the current fundamental backdrop and valuation levels.

  • Morgan (MWD) chieftain Phil Purcell was all over the tape this morning offering his vibes on the challenging Q2 environment and the "integrated" brokerage model. The State of the Art is indeed changing.

  • The semicaps have traded dry all session. IF (big if) we see a Snapper, I would expect these names to lead.

  • There was all kinds of chatter this morning that a large London-based hedge fund was going belly up. My best sources over there said that "it's possible but these rumors (about this particular fund) have been around for a while." Given the carnage in converts (thanks for those eyes Succ), it wouldn't be a huge shocker.

  • Thank You! The NASDAQ announced that they have no plans to open regular trading earlier than 9:30 EST.

  • We've got an uber-fest set for tomorrow night. Mr. Saut and his lovely bride, Snoop Tony Dwyer, Sir Bob Grohskopf, Scotto Reamer, President Fish, Johnny Succo, Greg Collins, John "if it ain't" Roque (don't fix it), Stevie Shobin, Hot Rod Lankford, Minyan Mike Santoli are all slated to attend. I'll try to soak up some wisdom to share with ye faithful.

  • Attention metal heads! The XAU is trying to creep through the recent downtrend. I still think that silver could be a teenager in a few years.

  • If you're diggin' the 'Ville, please don't sit still. We rely on the efforts of our Minyans to help spread word of the critter mission!

  • Congrats to Steve Nash of the Phoenix Suns on winning his first NBA MVP. Very cool, eh?

  • While the bear costume is back in the black, I wouldn't mind rolling down my stop if we get further slippage. It was gettin' pretty hot in here yesterday afternoon.

  • Fiscal literacy isn't about telling people what to do. It's about helping these see why markets move.

  • Dallas Minyans Unite! I'll be joining Minyan Bob Brooks on The Prudent Money Show tonight at 5pm on KVTT FM 91.7. Mama always said I have a face for radio!

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