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Random Thoughts

By

Today has more tests than high school!

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  • Thus far, the all-important levels in the DJIA, S&P, NDX and BKX have held.

  • I really wish Daisy would walk by -- I could use a milk shake.

  • I am officially tossing the Minyan poll results of the all-time best rappers. When a top five list doesn't include LL Cool J, Public Enemy, Tupac or Biggy, I've got to assume that Fokker fudged it.

  • Watch the transports as a leading indicator.

  • The SOX is retesting 360.

  • "Mr. Mojo Risin" is an anagram for Jim Morrison.

  • The breadth, which is migrating with a positive bias, is a key tell today.

  • The financials are starting to slip -- watch this group! Lehman (LEH:NYSE) is off (on acquisition concerns) and there's chatter of Goldman (GS:NYSE) "lock-up" (insider) stock being released. I obviously can't confirm the latter and, in the interest of full disclosure, I am involved (small) in the name.

  • John Lennon named the Beatles after Buddy Holly's "Crickets."

  • "The derivatives will no longer be treated as capital. We need to fully understand the implications of this accounting change and potential impact on Fannie Mae (FNM:NYSE) as well." --Rep. Richard H. Baker, R-La.

  • My big-picture thesis has always been predicated on potholes in the financial system exacerbated, if not stemming from, derivatives and debt. It was my (humble) view at BKX 700 and it's my (humble) view at BKX 860.

  • I'm taking the critters with me to Colorado. It's a natural fit and there's a lotta crunchy bear babes for Boo to peruse.

  • Junctures like this tickle my technical vibe. Kinda geeky, eh?

  • N's over S's.

  • Neil Young at the Garden tonight. Wasabi!

  • OSX 92 and PPH 80 are breakout levels that should provide support if and when.

  • The dollar has (thus far) held its gains.

  • I'm not in the top-calling (or bottom-calling) business but, as we discussed in this morning's first post, the conditional elements are in place. THE question, cookie, is whether Elmer continues to inject that high-quality H2O.

  • Do you think Fokker's gonna miss me next week?

  • Our levels are now getting tested. I'm using S&P 973, NDX 1187, DJIA 8950 and BKX 855.

  • Jason, we're not in Kansas anymore!

  • If you're in the "they're gonna ramp 'em into quarter end and I'll sell my stock then" camp, that's fine -- just have a contingency plan should it not happen.

  • Pringles are overrated. Ruffles are underrated.

  • Living well is the best revenge.

  • I wish all of our troops were home safe with their families.

  • Gold, which "broke" on a point & figure chart at 350, remains under pressure.
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