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Random Thoughts


The Minx has a mind of her own and it's up to us to adapt to her psyche.

  • Boo has thus far made a stand at the S&P 200-day, playing whack-a-mole with the bids as the bovine tried to turn the tide.

  • I can't help feeling nostalgic with Minyan Dougie Kass in the house. I remember once upon a time when he, Bill Meehan , Herbela, "Smails" Seymour, Snoop Tone and I enjoyed a true sense of community during the bubble days.

  • I've gotten a lot of emails and instant messages suggesting that this rally is "dead cat" in nature. It could be--I would venture to say that it should be--but the Minx has a mind of her own and it's up to us to adapt to her psyche. Truth is, it felt funny on the long side yesterday--sorta like that rope in gym class--and this morning's liftage in the metal and homie rentals has afforded me the opportunity to get a bit more balanced.

  • On an entirely more important note, we've made an executive decision and will host an old school, protein rich, wasabi-laden fish fest here at the hallowed halls. After all, Mr. Hand, there's nothing wrong with a little sushi on our time!

  • Watch Newmont as THE metal equity proxy on the heels of Merrill's push. It's not acting as well as the bulls would like. And as I own it, it's not acting as long as I would like. Be that as it may, this is tucked away on the longer-term side of my book and I'm in a position to add at lower levels.

  • Mucho white light to our brother Minyan Stephen Nagler as he walks down the road to recovery.

  • From first to wurst?

  • Man, if you look up heavy in the dictionary, you'll find two pictures. Me, and Pan American Silver (PAAS).

  • We're thisclose away from unleashed Buzz 2.0. Take me at my word, Minyans, it'll be worth the wait. On top of massive functionality, it'll also go a (very) long way to alleviating alotta those annoying glitches. We take much pride in what we do. It is, after all, the Minyan way.

  • And the critters shall conquer the world!

  • "Hey has anyone else noticed this re-inversion??? The 6 month to 10 year note spread is now MINUS 7 basis points. If 10's hold here and Boom Boom fights inflation and forgets about cratering housing then we would invert to -30-60 basis points. That points to recession. Period. As such, we are making some token sales in 10's. Just in the spirit of full disclosure. I hate to say it, but my deepest fears are here. Bernanke is the wrong guy for the job. Not acrimony. Just my humble opinion." Bennet Sedacca on today's Buzz

  • This is definitely subject to change!

  • And finally, the following Buzz took place between 11:00 AM and high noon:

    I felt so good,
    Like anything was possible
    I hit cruise control
    And rubbed eyes

    Alright, what's cooler...

    A) My brother Adam just IM'd to let me know he's got two 6th row tickets for Petty tomorrow night.
    B) My fiancé, with whom I had plans, told me I should go (Honeydew who?)
    C) Vitaliy "my mother called me "Red" once...ONCE!" Katsenelson just walked into MVHQ to join the sushi party.
    D) I actually escaped yesterday's spit in the wind with my face still in tact.

    If you answered "E--all of the above," you'd be right. And as there's nothing better than stealing a night with your only brother--and doing so with Tom Petty kickin' it--I'm pretty jacked. Alas, as you're not reading this for social updates, I'll get some 'real' content out there...

    • Breadth is moderating (3:2) and if that goes--with the 200-day overhead--Boo might make a comeback that would make LL Cool J proud.
    • This is occurring, of course, in the context of a dollar that has grinded back the majority of her losses today (DXY - 10 bips).
    • So you know, I've sold a slew--but not all--of my trading exposure. That is held with trailing stops (and has nothing to do with my longer-term merchandise).
    • The metal equities still trade heavy, despite the fact that the XAU is up a percent.
    • The VXN, which is sorta like a four-letter VXO--is off a quiet 9%.

  • As always, I hope this finds you well.


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position nem, paas, homies, metals, energy
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