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Random Thoughts

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The reason assigned to the rhyme...

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  • Hey now, crude had a five-handle this morning? Must be good for the tape, right? I'm not in that camp although I'm quite conscious that if the tape happens to rally, that woulda been the reason assigned to the rhyme.

  • And, speaking of pffffffffts, the CRB is trading with a two-handle for the first time since the beginning of last summer. CRB 292 remains a level of lore for "stuff" so sore.

  • The Fed's Fisher was on the tape this morning with thoughts from Mexico (yes, it must be nice). He offered, among other things, that there is a serious correction in housing but the Economy is healthy and robust. He may be right (we may be crazy) but I can think of two trillion adjustable rate reasons why those views may not be separate and distinct.

  • Weekly levels of note? NDX 1630 (the 200-day), S&P 1327ish (multi-year high), BKX 114 (all-time high) and XBD 220 (on any pullback for the brokers).

  • I'm a tree huggin' critter lover but I, for one, don't think these buggers make the cut.

  • A few Minyans pinged to note that the Golden Star CEO, Pete Bradford, bought six figure size of his stock late last week. I see it, and I'm right there with him.

  • Philip Morr, er, Altria (-4%) has chopped 27 points of the DJIA thus far today.

  • Major Mazel to Dr. Tom Hanson on the pending birth of his newest Mini-Minyan today!

  • "The World Index (DJWORLD) has potentially made a double-top, as has the S&P 500 (SPX). According to the Lowry's service (9/20/06), "The market staged an impressive (upside) follow-through advance to yesterday's rally. At the same time, the Short Term Trading Index, the % stocks above their 10-DMA, and the 14-day Stochastic, etc., all remain well below their early September highs and continue their recent failure to confirm the highs reached in the price indexes. Lagging breadth and demand are not signs of a healthy rally." Meanwhile, we still can't shake the feeling that the DJIA is going to trade-out to a new all-time high totally unconfirmed by most of the other indexes." Jeff "Circle me for December 1st!" Saut in his always excellent weekly missive.

  • This is the wrong article to read while eating a Chinese Chicken Salad.

  • Please soft circle Friday, December 1st for an afternoon of Minyans in Manhattan and an evening of Critter's Choice. We're putting the final details together as we look to end 2006 with a philanthropic bang.

  • And finally, a Mini-Minyan Mailbag...

    "Let me tell ya, I am so hooked on Minyanville that I would be lost without it. After seeing investors get hosed in 2000 through 2002 by listening to permabulls, sunshine pumpers and cheerleaders in every segment of the media constantly insisting that bad news is good news and every dip is a buying opportunity, I was so hungry for some other point of view with facts to back it up. So, just sayin' thanks and keep giving us the facts rather than the party line. I can get that anywhere." Minyan Bill in
    Colorado.


R.P.

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