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Random Thoughts

By

It's VERY vacuumy today!

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  • Big picture bearish bent aside, there are a lot of charts in the financials that look like reverse head and shoulder patterns. Just an objective observation.

  • It's surprisingly thin out there. Please remember to put limits on those orders

  • S's over N's.

  • Observant Minyans tell me that the six-year neckline resides at S&P 960-970. That's true if you include intraday moves (I was looking at "closing" levels). For Bloomberg users out there, you can check out the difference by looking at an SPX "GP" chart vs. a "GPO" chart.

  • Watch the biotechs (BTK) for signs of traction/slippage.

  • When will the market trade lower? When everybody has bought all their stock.

  • Remember when we'd walk into our office and the futes would be up huge for weeks (months) at a time? Lucent (LU:NYSE), Sun Microsystems (SUNW:Nasdaq) and JDS Uniphase (JDSU:Nasdaq) were all indicated up 10? Not sure what triggered that random thought but hey, that's what this column is all about.

  • There's chatter out there that states are gonna take the proceeds from their muni issuance and allocate those proceeds to equities. That's fueling an already heightened sense of anxiety among traders.

  • Newer Minyans, please take the time to check out the shops on Main Street. We've tried to make Minyanville as inclusive as possible and the critters would appreciate any support.

  • As a trader, it's not necessary to play every move, it's only necessary to have a high win percentage on the moves you choose to play.

  • The Fokker Fan Club? Stranger things have happened.

  • We're seeing call buyers out the ying yang.

  • Next week is big for the semis. The Smith Barney semiconductor conference, Xilinx (XLNX:Nasdaq) mid-quarter update and Intel (INTC:Nasdaq) mid-quarter update all line up.

  • Does Microsoft (MSFT:Nasdaq) play ketchup or is it a "tell" of supply?

  • We haven't forgotten about the all-star guitar, we're just planning something very special. You'll see.

  • I think Boo needs a furry version of a Daisy.

  • I'm the worst speeler.

  • Thirteen years of flickering ticks has gotta leave a mark.

  • Brian Reynolds -- welcome to NYC!

  • Have you downloaded your Minyanville icon?

  • Do you know Mike Cahill? You will soon...

  • Look at a chart of the XLF (Financials Select Sector SPDR).

  • Is it panicky enough yet? You can almost cut it with a knife.

  • What ever happened to the Pet Shop Boys?

  • I've talked to a handful of bears today. The common theme? Too smart to buy 'em, too scared to short 'em.

  • What IS a ying yang?

  • As you look at these levels, remember how you felt in early March. When the market sells off, remember how you feel right now.
position in spx, bbh
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