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Random Thoughts


Keep an eye on the greenback as it flipped the crimson switch this morning.

  • I reckon the critters could help with this mission!

  • Dink Dink Dink...shouldn't tonight's two hour season finale be called "48?"

  • Note to self: The CRB multi-year trendline won't come into play until CRB 322 (currently CRB 340ish).

  • BKX 108 is an important level for the money centers and, by extension, the broader tape. As go the piggies, so goes the poke.

  • "Right off the bat the Oil Service HLDRs (OIH) open lower for another look at the long-term trendline at 140. It will take a move to 138 to break the trendline. For those who are interested in taking a shot at the OIH with an adjusted risk profile, take a look at the support levels and trend observations we posted on Friday." Pepe Depew on today's Buzz

  • If you played slacker on Friday and scooted from your screens, please be sure to take a peek at Phil "my pockets" Erlanger's Snapper vibes.

  • While conventional wisdom seems to be that a bounce is likely, there is a growing chorus that it will provide an opportunity to make sales or get short. And yes, that includes many of the Minyanville professors.

  • "The call for this week: The media is replete with comments that the commodity "bubble" has been broken. Inquiring minds want to know WHY positions in commodities are currently "speculative," when positions in the tech/telecom complex were not "speculative" back in the mid-1990s. When you quit hearing the media using the words "commodity bubble," then you should get worried, very worried, about your stuff stocks. In the interim, "the difference between perception and reality is where investors' opportunities lie!" Accompanying the "heart attacks" we have seen in our markets has been equally disturbing declines in many of the world's equity markets. Therefore, this morning we are including some comments from Raymond James' Indian affiliate, a country on which we have been bullish for four years, at the end of these comments. We continue to like emerging markets like India and advise participants to invest accordingly." Jeffrey "I'll see you at MIM3!" Saut, Chief Market Honcho at Raymond James, in his always excellent weekly missive.

  • I nibbled ever so gently on some Weatherford (WFT) into the morning muck. Why? I like the space and sense that this is a potential take-out candidate. Not huge--and not advice--just sharing the eyes.

  • Meanwhile, over in Angstville, the VXO is dancing 13% higher as option interest (protection) manifests.

  • S&P 1257 (200-day) remains a level of love for a market so sore. I would think that a fair amount of sell stops reside on the other side of that ride.

  • Congrats to our friend Emmanuelle for locking spot #37 on this year's Maxim Hot 100 list. Emm promises us a sizzlin' season of Entourage, which premieres on June 11. Break a leg Emm!

  • Keep an eye on the greenback as it flipped the crimson switch this morning.

  • The homies have been a picture of pain for those hanging with Hoofy. Keep HGX 224ish on ye radar as it's the '05 low (and the sector pretty oversold).

  • T-minus nine days are left in the MIM3 early-bird special. I know there's a lot going on, Minyans, but a dollar saved is a dollar earned!

  • R.P.
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position in metal equities, wft, financials
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