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Random Thoughts


Lionel's done?


  • Fannie Mae (FNM:NYSE) was indicated to release this morning will actually be reporting tomorrow morning.

  • Most people don't ask questions while the market is rallying but I, for one, think that Elmer & Co. is short sighted and acting irresponsibly.

  • Budget deficit, attention deficit...what's the difference!

  • Gene Hackman is a tremendously gifted actor.

  • If the Minx/Jinx relationship holds (our market following the path of the Nikkei), we'll make a marginally higher high on the S&P (doing that now?), sell off hard within the next couple weeks, grind back to retest (poke through) the highs once more and then melt away from there. Look at a chart of the Nikkei in the '90s and you'll see what I see.

  • I've scaled into a few more fall puts in select tech and financials. I think there's a "gut check" coming (sooner rather than later) and while it may not be THE turn, it'll likely feel that way. Names of choice? Intel (INTC:NASD), Cisco (CSCO:NASD) and Fannie Mae (FNM:NYSE). That doesn't mean it's right for you but it's what I'm thinkin'

  • Why WOULD you want a foggy idea?

  • The constructive chart patterns that emerged last week tempered my bearish bent (for a trade). They didn't change my view, they simply caused me to adapt it. Big difference.

  • In 1997, Michigan became the 16th state to allow the blind to hunt.

  • When's the last time you've gone a full month without consuming alcohol?

  • This tape has more gaps than a shopping mall. Keep half an eye peeled to NDX 1300 (this morning's gap) for possible fillage.

  • Networking, despite it's green screen, trades relatively lethargic.

  • A reader pinged me over the weekend freaking out over his exposure/positioning. If you're experiencing similar emotions, it sometimes helps to pare back (trade "in between") or set defined risk levels (via stops).

  • Could they turn 'em (lower) today? Sure...they could do anything they want. With the financials this jiggy, however, it'll take a heckuva effort from Boo's crew.

  • Beeks swings by tomorrow with the Empire Manufacturing (exp.20) and Advanced Retail Sales (exp. .4%, ex-autos .3%). We'll also hear from Elmer's zoo.

  • I have strict stop orders (at my cost) on the intraday tries. That balances my put exposure and defines my (downside) risk at the same time.

  • When will traders begin positioning in front of the massive unknowns this week?

  • I think I've got the black lung, pop.

  • Appreciate the potential for pin risk as we edge towards expiration. Remember, monitoring the open interest relative to the average daily volume (of the underlying) is sometimes helpful in identifying these situations.

  • Is rumortrage gonna start heating up again?

  • Wanna read a great book? Unstoppable, by Cynthia Kersey.

  • The future is only a blink away. Appreciate the concept of's the most valuable commodity.

  • Another Rubyism: "What goes around, comes around."

  • I think we can put a fork in Lionel...he's done.

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