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Freaky Friday Random Thoughts


Life's simply too short to let net work dictate our self-worth.

  • "The whole path to success is not as difficult as some people would want you to believe. The process was the goal. I've taken great joy in the process." --Oprah Winfrey

  • What kinda name is Poole? Maybe one that has had it with the steady stream of misinformation?

  • It looks like we've got ourselves a series! And to think, you coulda snared 4:1 odds on the Heat after game two.

  • The VXO is nibblin' higher to the tune of 10%.

  • Does anyone else get the sense that alotta folks bought into yesterday's "we've seen the lows" chorus? Or is a pop to--and a failure at--the S&P and XBD 200-day moving averages too easy?

  • My eyes are spying some slippy brokers (below resistance) and laggy small caps (Russell -1%), homies (HGX -1%), energy (OSX -2%), metals (XAU -1.3%) and biotech (BTK -1%). In addition, with breadth 2:1 negative and resistance above--not to mention the 25% drop in the VXO or the massive short covering we saw yesterday--I would offer that Boo retains the benefit of our doubt for the time being.

  • Typical expiration action is bookended by the bells. The fact that it's so very nice out heading into a summer weekend--with a little golf and soccer to boot--won't help the late day liquidity.

  • Wax on? Check out Brazil as it pops a deuce.

  • So, I found the fifth dentist Wednesday night. You know, the fifth dentist from the "four out of five dentists recommend Trident sugerless gum for their patients that chew gum" fame? His name is Patrick and he bartends at Rosa Mexicana on East 58th Street. With a jug full of pommie margs, it's no wonder he was the odd man out!

  • I saw multiple sevens to buy in Intel earlier and it's showing signs of "dryness." If we turn higher, I would think the Mother Chip leads the speed.

  • Succo and I enjoyed an abbreviated Succofest last night and I jokingly asked him "Hey John, do you think a 25% drop in the VXO in a single session is bearish?"

  • "Wednesday, I was pleasantly surprised to see that (a) the gold ETF took in another 100,000 ounces, with the total ounces held now at a record, and (b) the silver ETF took in another 1.5 million ounces. What this points out: The un-leveraged "cash-type" buyers are availing themselves of dips in price, to get more exposure; while the leveraged futures traders are being forced to sell weakness. I think folks should keep that distinction in mind. People who trade futures tend to chase strength and sell weakness, and cash buyers tend to do the opposite. That phenomenon is one reason why people who trade futures usually lose money." Professor Bill Fleckenstein on this morning's Buzz.

  • We've got a slew of new pledges in the Hallowed Halls and, contrary to market rumors, none of them are named Hey! They are, in no particular order, Pledge Neo, Pledge Pork Chop, Pledge Psycho (don't call him Francis) and, coming Monday, Pledge Ex-Lax.

  • It's been a hairy week, Minyans, so make smart decisions into our requisite two day respite and enjoy the down time. Next week will be another nutty strut--we're rolling out Buzz 2.0, I'm heading to Denver on Thursday for a few gaggles and then popping into Vail for a final pre-Festivus site visit. I sincerely hope you had a fine week and that you're mindful enough to appreciate the journey. Life's simply too short to let net work dictate our self-worth.

  • R.P.
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