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The Stuff of Life


Fare ye well!


There are only two ways to live your life
One is as though nothing is a miracle.
The other is as though everything is a miracle

(Albert Einstein)

The tug-of-war has been a bore as traders sleep and the critters snore. As it stands, the N's vs. S's Superstar challenge continues as the drekky techs try to clean the deck. Meanwhile, the S-cargo has put on a show and kept the trek from being a wreck. Just think Minyans, just another ten minutes before the flicks stop ticking!

As discussed, the bonds warranted attention as they swooned to close on the daily lows. Still, the financials hung tough and that raises an eyebrow on both sides of the fence. This complex is oh-so-important to the state of the tape and they'll be the key next week. If they rock and roll, the bulls will stroll. If they're the rock that sinks, the tape will stink. It's really that simple.

The action should pick up as Beeks stands tall and Elmer makes the call. We'll also get the earning's sweat from Applied Materials (AMAT:NASD), Deere (DE:NYSE), Maxim (MXIM:NASD), Wal-Mart (WMT:NYSE), Fox Entertainment (FOX:NYSE), News Corp (NWS:NYSE), Brocade (BRCD:NYSE), Analog Devices (ADI:NYSE) and BEA Systems (BEAS:NASD). With traders itchy and the range twitchy, there will be plenty of fingers on the proverbial trigger.

This is shaping up to be the sixth straight losing session for the NDX and I've already begun picking up the "get long in front of Monday" chatter. I'm not a big fan of that game although I agree that field position should always factor into trading decisions.

I will also offer that the GSE noise is getting loud and there's two ways to view that. It's either very smoky (think fire) or it's getting crowded on a trading basis (think pressy). I'm involved in these names (on the short side) and I think you know my thoughts about an eventual unwinding. Please be aware, however, that the agency spreads have tightened and that has bullish connotations.

That's about it as I ready for my Amtrak trek to Baltimore. Please take a minute to read the quote at the top of this column again. I'd love to tell you that I found it on my own but, unfortunately, I did not. It was printed below a picture of my friend Angie on the program for her memorial service last night. As I sat with the other stunned thirty-something year olds and listened to stories of smiles past, I was (once again) reminded of the fragility of life. It should never take something bad to remind you of all the good. Instead, let the good bring out the best in you.

Have a peaceful weekend.

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