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Sleepless in the Battle

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You wanna spank my fannie? I'll spank YOUR fannie!

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Lately I've been talking in my sleep
I can't imagine what I'd have to say
Except my world will be right
When love comes back your way

(Eric Clapton)

My sleep-eating adventures have become legendary in these parts but last night's meander takes the cake -- literally. Having won a basket full of chocolate at a recent event, my need for nocturnal nourishment had me up and about at 2 a.m. Unfortunately, the path to my passion was interrupted by my bedroom furniture which, as I quickly found, is a lot sturdier than I am. Talk about a rude awakening!

Meanwhile, back to life, back in reality, chatter of an "emergency" Fed meeting is flying through the trading wires. Where there's smoke, these types of stories are bound to fire up, and today's no exception. While I've clearly got no insight as to Elmer's agenda, I wanted to make sure you're in the info loop.

I've been watching the financials like a hawk for Boo's clues (and on the back of the seller of financial sector SPIDRs, or XLFs). They act a bit funky (Fannie Mae (FNM:NYSE)) but, thus far, the Minx doesn't seem to mind. A quick check of the morning breadth shows winners trumping losers, although the tone of the S's is noticeably better. The semis have also been lower out of the gate and that's likely a combination of the Monty downgrade and the recent earthquake in Taiwan.

Snoop Tone will be swingin' by for a little SushiTuesday at high noon so I'm gonna have Fokker fire up the fishfest. I'm hopeful this time he orders more than ONE piece of salmon and ONE piece of tuna. Yes, friends, he actually did that. I couldn't possibly make this stuff up!

As always, I hope this finds you well.
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