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Random Thoughts

By

The day wouldn't be complete without an upside kiss!

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  • Since the March low, 80% of the days had a TICK reading of +1000 while there were NO days that registered a reading of -1000.

  • A dealer bought 800 Nazz futures and that spiked the tape. The NDX has now filled the gap from yesterday's opening.

  • It was great to see Chuck Feldman, Jack Skiba, John Succo, Kim Dispigna and the rest of the original Morgan derivative team at JB's fete last night.

  • The breadth continues to impress and that's the most constructive thing on my screen.

  • The BKX might as well be a psychology thermometer.

  • The horsies -- Cisco (CSCO:Nasdaq), Microsoft (MSFT:Nasdaq), Intel (INTC:Nasdaq) and Dell (DELL:Nasdaq) -- are attempting to exert a leadership role.

  • SARS still warrants a place on the trading radar.

  • Daisy doesn't have tan lines despite chatter of a butterscotch thong.

  • How do you shoot the devil in the back. What if you miss?

  • Casey and I have come up with some good thoughts in the past -- but the idea we're kicking around right now that will put all the others to shame.

  • When I meet people now, they ask me where Fokker is. I've created a monster!

  • N's over S's.

  • We should have a University of Minyanville timeline announced.

  • S&P 935 to 940 is the top end of the most recent range.

  • The goal, when trading, is to be in a position to sell strength and buy weakness.

  • Sylvia Wadhwa is starting to grow on me. Not in an Emma way, mind you, but that's not a fair compare.

  • Gold continues to hold firm.

  • The FOMC alludes to deflationary concerns and Treasury Secretary Snow say's it's not a worry. Hey, one of them will be right!

  • I unwound my front-month S&P put spread yesterday near the close. Why? Too much "gun to head" pressure with expiry looming next week. For purposes of education, it was the SPX 930/900 put spread (paid 7ish on Tuesday). I was originally gonna add a "short call kicker" into a rally but called an audible as we tested support (920). That may be a strategy I explore (with June paper) if we get a "blow off" but I'm happy to use "underlings" (with tight stops) in the interim.

  • Mike Musina -- Cy Young?

  • I met a graduate from Duke last night at JB's. Do you have ANY idea how great it felt to say I went to Syracuse and my second favorite team is the Terrapins? Talk about a BLUE devil!

  • Is the VIX in the process of saying goodbye to Jordan and hello to Emmitt?

  • My first job on Wall Street? Salad boy.

  • Will the heavy banks drag down the tape... or will the tape squeeze the banks back above BKX 800?

  • Along those lines, are we seeing a rotation out of the financials into tech?

  • I'm very psyched for Casey's East Coast road trip. We speak every day but spend precious little time together.

  • Critter pics make a welcome addition to any child's room!

  • Can the Kings win without C-Webb?

  • I have no doubt that Ruby watches over me -- and I think he's getting a kick out of being in the Wall Street Journal today (C-5).
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