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Random Thoughts


Afleet on your feet as we start off the week!

  • Minyanville would like to thank Jordan Farkas for his involvement in the all-star guitar. He was the gentleman who initiated the process and it wouldn't exist without his considerable effort.

  • The life of Boo.

  • A quick sniff of the trading tiff finds market breadth jazzy (2:1), volume (understandably) light, laggy financials (banks and brokers), sloppy semis, a drippy dollar and traders focusing on S&P 1192 (April highs) for near-term directive. If you get the sense that I don't have an uber-strong short-term feel here, it's because I don't. As long as the internals remain skewed, however, Hoofy holds onto the benefit of the doubt.

  • Taxing issues.

  • "With the continued advance of equities, short positions become increasingly uncomfortable. Though most of the rally to this point has been attributed to short-covering, futures data continues to reflect significant speculator's short positions outstanding, particularly on the NDX. Our Master Sentiment Indicator is still neutral, as are our trend indications. From the technical perspective, the characteristics of this move appear similar to the move we experienced in August of 2004, a move that was tradable within the context of a broader range." -- Jeff DeGraaf of Lehman Brothers.

  • This critter belongs in Minyanville!

  • I say we let Phoebe and Zoë get medieval on this woman!

  • The net/net on Saturday's U2 show? >From a pure content standpoint, I'd give it a "7"-they opened slow, finished strong but lapsed with the encores. From an "experience" standpoint, I'd give it a "10" as there is nothing better than sharing time with my brother Lionel.

  • ADRS for the A.D.D.

  • "It's Mooeja vu all over again, yet the time to be bullish was weeks ago, NOT now. What should happen from here is an attempt at a small pullback followed by a rally to slightly higher reaction highs to complete an intermediate stock market top. Meanwhile, the CRB (commodities) index has broken down in the charts, as have precious metals and oil. In fact the entire "stuff stock" complex looks lower, which is why we remain hedged on the downside in most of these investment positions. Longer term we continue to believe "stuff" is the place to be! Now some of this stuff-stock weakness is likely attributable to a change in the "measuring stick" (i.e. the dollar) as the anticipated counter-trend dollar rally continues and that caused one Wall Street wag to note, "I think a trader has to have the ability - or investor I should say - has to have the ability to adjust to being wrong. In other words, you can't be too stubborn. You must have a certain degree of flexibility as to what's going on." We continue to invest accordingly." -- Jeff "As Good as it Gets" Saut of Raymond James.

  • Vibes from Dr. John.
  • Hear Ye, Hear Ye! The Minyans in the Mountains II registration is officially open! Please check out the details of our summer Festivus as we attempt to build on last year's fantastic gathering. We're still adding to the MV network of professionals and will update the site as we edge closer to August. Thanks for your continued support and we'll see YOU in Santa Barbara!

  • It's like giving a knife to a murderer.

  • The risk to watching General Motors (GM) and Ford (F) as "smoke" proxies? The maze of hedge fund positions that are skewing the equity action relative to the debt.

  • Please note the 'tude in crude as the front month futes edge towards the magical mystery $50 level.

  • Lesson learned!

  • There was a time that I would feel guilty for sneaking out for an extended weekend. As I don't get to vibe with my mom much, I'm leaving any regrets behind when I trek to Santa Fe. She's awesome and I look forward to checking out her new digs in the desert.

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