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Random Thoughts


A walk of what?


  • A single customer bought 40,000 QQQ June 29 puts this morning. While I wholeheartedly agree with the bet, concentrated put (call) buying, taken in isolation, is bullish (bearish).

  • Fokker and I hung the American flag (that flew over the capital) behind my desk today. Thanks again, Primo, for your kind gesture. It's right above the bottle of Budweiser that I keep on my credenza in honor of Bill Meehan!

  • There continues to be an underlying bid in the market... but that's all everybody is talking about. Hmm...

  • Ever since I saw City Slickers, I can't eat veal. It's all Norman's fault!

  • This afternoon's earnings: Analog Devices (ADI:NYSE), AnnTaylor (ANN:NYSE), BEA Systems (BEAS:Nasdaq), Brocade Communications (BRCD:Nasdaq), Computer Associates (CA:NYSE) and Intuit (INTU:Nasdaq). Tomorrow morning: Target (TGT:NYSE), Pep Boys (PBY:NYSE) and a truckload of economic numbers. Beeks will swing by with the Empire Manufacturing (expected at -8.25), Biz Inventories (expected at .2%), PPI (expected at -.7%, ex-food/energy .1%), Initial Jobless Claims (expected at 427,000), Continuing Claims (expected at 3.74 million), Industrial Production (expected at -.4%), Capacity Utilization (expected at 74.4%), Philly Cheese Steak (expected at -4) and the NAHB Housing Market Index (expected at 54). Holy guacamole! Hey Brian -- eat your Wheaties!

  • I promised my pal Marcus that I'd pass along the word of his charity golf outing. Despite my golf "situation," I may attend this year to make up for not calling him back last week. It's a good cause and, as you know, we're big fans of philanthropy in Minyanville!

  • The consumer names (thus far) act dry today. As you know, I've rented some defined risk calls in the group against my put plethora.

  • Dexy's Midnight Runners? Man, there sure are some eclectic Minyans out there!

  • The lovely and talented Casey redeyes her way to NYC tonight and I can't wait to see her. Minyans of the world unite!

  • The bulls (and turtles) are making a stand at S&P 935, NDX 1140 and BKX 800.

  • I was a little frazzled yesterday -- sorry 'bout that.

  • Somebody PLEASE take these chocolate chip cookies away from me!

  • Don't forget to send your Minyan Mailbag questions to Charlotte-Anne.

  • There are a couple of surprise columnists heading to Minyanville but fear not -- each and every addition must pass the smell test by committee. We will never substitute quantity for quality. Not on my watch.

  • My favorite Rubyisms? "This too shall pass," "Time is the most precious of commodities," "Think positive," "Keep your right hand up" and "F*** 'em!"

  • When will the "war pass" baton be passed to the "SARS pass" baton as an excuse for economic weakness?

  • If you're emotionally involved with a stock, put it on a self-imposed restricted list and focus your efforts elsewhere.

  • Sell hope, buy despair.

  • The intramarket rotation continues. Sort your screens by industry group and you'll see what I mean, Jellybean.

  • Find your own individual balance -- be it trading style or lifestyle.

  • On my way to work today, I saw Daisy doing a "walk of shame." Jeez, I hope Page Six doesn't pick this up!

  • Novellus (NVLS:Nasdaq) is bucking the semicap trend today.

  • Who's on First?

  • While I'm not sure where it begins, the down/up/DOWN trade still sets up in my mind's eye.

  • Do you understand why it's bearish when everyone's bullish and bullish when everyone's bearish?

  • A pro Danny. Yeah? A pro is kinda how you think of yourself. Catch my drift?

  • Don't force it if it's not there -- if you try to squeeze trades from a stone it might roll over on you.

  • I've been writing for a few years now and in that time, I've gone through decent hitting streaks and my fair share of slumps. It's the price of doing business, my friends, for if there weren't risk, it'd be called winning -- not trading.

  • I'm hearing a lotta Procter & Gamble (PG:NYSE) technical chatter.

  • I love the way Bill Fleckenstein writes. Ditto for Mike Santoli.

  • When (big when) we finally do turn the bull cycle corner, I'm fairly sure tech won't lead us.

  • Bow wow wow, yippee yo yippee yeah, Snoop Tone's in the ... house.

  • Put tomorrow's Intel (INTC:Nasdaq) analyst meeting and semiconductor book-to-bill on your trading radar.

  • I saw a chart over the weekend that plotted the bull/bear differential vs. the S&P and every time the disparity got to these levels, a meaningful sell-off ensued. Don't shoot the messenger -- just passing it along.

  • Thank you Brian Reynolds for all of your fine work.

  • See? We haven't heard ANYTHING about cranberries since Thanksgiving!

  • How many random thoughts is this, anyway?

  • Factor tomorrow's monster economic parade into your overnight risk profile.
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