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Random Thoughts

By

Fokker!

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  • I know I'll catch heat on this one, but I can't endorse the Knick's latest deal....yet. IF (big if) Keith Van Horn toughens up, it has the potential to morph into a good trade. As it stands, he's too soft.

  • Watch the VIX...if it trades at 20, it'll break a triple bottom in point & figure work.

  • Where the heck does the demand from radishes come from? WHO likes radishes?

  • The tone of the tape has firmed but the breadth is still urging caution.

  • If wishes were knishes, I'd be 20 pounds heavier.

  • The ability not to trade is as important as one's trading ability.

  • The 50-day moving average (S&P 977) our first support, the recent range low (S&P 962) is the second support while S&P 950 is THE support. On the upside, S&P 1015 (recent high) is the first area of contention while S&P 1040 is the next resistance (trendline).

  • This Amgen (AMGN:NASD) has more swings than a Hedonism vacation.

  • Fed Governor Ben Bernanke was on the tape at 11am chatting up the risks of deflation.

  • Gold has spiked through the magical $350 level (currently at $357) while the dollar is getting clipped for 1%.

  • I haven't been able to wrestle out the alligators, but it sure does feel like an allocation is taking place.

  • You can tell the sex of a horse by it's teeth. Most males have 40, females have 36.

  • Watch the brokers as they try to sneak green.

  • I'm seeing the underlying names better to buy and futures better for sale.

  • November 12.

  • The consensus from my contacts is that we're gonna see a stronger afternoon. The question remains whether it'll self-fulfill or the crowd will get caught leaning the wrong way.

  • I miss John Candy.

  • The OSX is sitting directly on it's 200-day moving average.

  • You can do anything as long as you're disciplined.

  • I've gotten a few emails asking me what would augment my big picture bearish thesis. The answer? Time, and lots of it.

  • I fear the unemployment rate is going much higher.

  • What's up? A chicken's ass when it eats.

  • The most bullish elements today are the biotechs (held BBH 132) and the semicaps (holding firm). Watch both these sectors for signs of slippage/traction.

  • Do the Q!

  • Strange action thus far today.

  • When the bottom (eventually) falls out of this market, it'll all seem so obvious.
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