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Random Thoughts


No guessing please!


  • The Texas two-step!

  • Pass the Herb!

  • Merck (MRK:NYSE) (-27%) and Fannie (FNM:NYSE) (eight day total -17%) are the black eyes of the third quarter. It's also leading to today's N's over S's dichotomy.

  • "No, no. It tells time simultaneously in Monte Carlo, Beverly Hills, London, Paris, Rome, and Schtahd!"

  • I continue to operate with the belief that traditional sectors (tech/financials) will struggle while "alternative" sectors (energy/metals) will lead. With that said, and fully aware that I may miss further opportunity, I've flattened a bunch of "that" exposure and will wait for more attractive prices to rebuild that thesis.

  • According to a police report in Baxter, MN, thieves broke into the First Integrity Bank, but then used a hammer on a common wall in order to break into the adjacent Lakes Area Eyecare store and make off with numerous pairs of sunglasses. In most such break-ins, crooks use the store to get into the bank, not the other way around. (Brainerd Dispatch)

  • A quick check of the internal breadth finds that the broader tape is absorbing the selling thus far.

  • I was in New York the whole time. I swear!!

  • BKX 97.5/98 remains a big level on the trading radar.

  • Mea culpa on the laggy revelation but the jig in the cyclicals is likely a trade for the (perceived) dollar negatives in front of the G7 meeting. That, along with the stronger PMI and a rotation out of the consumer space, is helping the CYC test this monster zone (CYC 700-708).

  • Liar liar pants on fire!

  • Silver up another 3+%. Copper at nine year highs. Gold through the August highs. But there's no inflation.

  • Why is everything we need more expensive and anything we don't on the cheap?

  • My days are numbered.

  • The dollar continues to slip as the DXY probes 87.50 (-70 bips).

  • Do something Joel.

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

  • Acting on an informant's tip, detectives in Waterloo, Iowa, had a police drug dog search a car. The dog started to sniff, and then abandoned his post. Police took the car to the station anyway, where another dog sniffed it and signaled that drugs were present. A search warrant was obtained, and owner Kirk Sallis was arrested for cocaine possession. Later however, a judge dismissed the charge, ruling that the impound was illegal, since the first dog never completed the initial search. This was due to the fact the dog, part-way through the search, had run off to chase a cat. (Waterloo-Cedar Falls Courier)

  • I still think more pre's are coming. For whatever it's worth.

  • The S&P edged through the short-term trendline that was in place from Tuesday's low.

  • Neil Middlehurst, 49, who is blind, was ordered by the Kingston, England Crown Court to refrain from behavior that had provoked numerous complaints from females who had helped him cross streets. Middlehurst's apparent modus operandi was to touch women affectionately as they walked, while involving them in conversations about sore throats and "phlegm." The judge specifically forbade him from using the word "phlegm" any more. (Surrey Comet)

  • I sincerely hope the trend is MY friend. After dropping 12 lbs, I've bounced four in the last three days. I'm not worried about my bet with Collins (I can almost hear him getting bigger). But there are 24 other Minyans in on this bet and I'm pretty sure a bunch of them are staying disciplined.

  • Someone just asked me if we should be on mannequin alert. I responded that most fund managers are too smart to window dress on the last day of the quarter.

  • If the G7 isn't as dollar negative as most everyone believes, the metals could get hammered on Monday.

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