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Random Thoughts

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The markets are trying to push to the upside.

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  • Keep an eye on Lehman, Brother, as it flipped the upside switch this morning and has given some pep to the broker's step. I told Boo to pay attention to that XBD 220 level, as Randolph and Mortimer failed there multiple times since May. If they bust through, they have a shot at turning the machines back on.

  • This is your friendly Minyanville reminder that the Special Olympic Duck Race will take place tomorrow night at the South Street Seaport. Team Minyan is currently holding second place and we're looking for some last minute Minyans to step up and join this most worthy cause. Also--this just in--Queen Vanessa informs me that we've got a handful of spots open for the VIP Duck Party, where MVHQ will be rooting for our ducks en masse. Shoot her an email if you'd like to join us for some peaking duck in downtown Manhattan !

  • Energy (OSX +3%) and metals (XAU +2%) thus far stand out in select sector action. Hey, a broken clock is right twice a day (as yesterday's late day upside hedges kick in)

  • So the CRB must be jazzy, eh? Nay! The commodity proxy is up 40 little bips.

  • This guy should be forced eat cialis, get a 6% mortgage and spend time with Corel Draw, whatever that is.

  • Meanwhile, back at the ranch, Television's JeffMacke® just pranced into MVHQ to announce, with authority, that he's left Tupac's crew to join Biggie (that's me). Welcome to the East Coast, Wolf, where men are men and sheep are nervous.

  • The NDX 200-day is sitting above at 1630. Given the recent reverse dandruff, Mr. Valentine would set the range at NDX 1600-1630.

  • Is the S&P/VIX ratio at another all-time high and, if so, why isn't anyone talking about it?

  • TRAN 4400? How bout TRAN 4464, which is the 200-day moving average for the trannies (we're there now).

  • The markets are trying to push to the upside. Crude must be lower, right? Not so much. But the dollar is...

  • Keep in mind that expiration influences generally influence the tape on the days before the actual expiry. That could lend some whippiness to the flickering ticks today and tomorrow so keep your eyes wide and your tail waggin'.



R.P.

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Position in metals, financials
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