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Random Thoughts

By

Watch your step Mister!

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  • I used to be good at giving orders. Now I'm good at placing orders.

  • The Senate Intelligence Committee has severely criticized the CIA saying that they overstated the Iraq threat before the war. While they found no evidence that the White House pressured CIA analysts, they did offer that the CIA assessment led Congress to support the war in the first place.

  • The definition of an investment should never be a trade gone awry.

  • Armoire is a funny word. So is savoir-faire.

  • When I started in this business, the running joke that we played on new hires was to send them to a managing director and request the key to the clearing house.

  • The Dow Jones is eating a moving average sandwich. The 200-day rests below (10,182) and the 50-day is sittin' above (10,232).

  • They're always after me lucky charms!

  • Intern Eric is in the office today and he's thus skated through the summer unscathed. We may have to order up some sushi and see what the young lad is made of!

  • The semis are trying to find a toe hold above SOX 450 as it looks up at multiple gaps (all created in July). It's worth noting--as we have on the Buzz--that the semi stochastics have 'hooked' at the bottom (bullish).

  • Time flies when you're writing Randoms.

  • S&P 1100 is the first magnet (200-day). S&P 1080 is the second magnet ('04 lows). S&P 1050 is the third magnet (where we broke out from in late '03).

  • Treasury Secretary Snow is on the tape saying that the US supports a strong dollar. SO STOP PRINTING SO MANY OF THEM!

  • A healthy person releases 3.5 oz. of gas in a single flatulent emission, or about 17 oz. in a day. Using those metrics, Collins could be a world class athlete.

  • Strong foundations are built--and sustained--by the people who compose them.

  • Hoofy keeps asking me why Rich Gula keeps chatting up Daisy. I told him that a little milk does a body good.

  • The metal stocks are weaker than the metals today. Watch gold $405 and silver $6.25-30 (former resistance) as initial support.

  • Panda bears poop 48 times a day. And that's independent of how the market trades!

  • Mr. Succo's article yesterday regarding Elmer's Zoo triggered faithful Minyan Jeff Kaufman to fire up this link.

  • I don't care if the Raiders win the Super Bowl as long as they beat the Broncos.

  • General Electric (GE:NYSE) is the battleground du jour.

  • Sharpen your #2's--next week is gonna be hairy.

  • If you're bullish then bearish then bullish then bearish--sit back and take a deep breath.

  • Yahtzee!

  • The risk/reward of this particular trade is very attractive.

  • Phoebe sat on my home computer keyboard again and launched my AOL instant message. When I got home, she sent garbled messages to about seven friends. I still think it was cat code for "FEED ME!"

  • Can the bulls rally the troops in front of the weekend unknowns, looming earnings, political uncertainty and technical inflection points? Yes--but it's a tough road to hoe (who hoes roads anyway?). I would think that they would have to get their groove on sooner rather than later, however, if they're to make a dent. I would also pay close attention to GE (and Citigroup) to see if they can bring good things to the Minx.

    R.P.
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position in silver, c
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