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Random Thoughts: Will the Market Slide Continue On Monday?

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The downside wick following yesterday's wax has been lit. The question, of course, is whether it'll wane into the weekend...

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  • What's for lunch?

  • There's a little black spot on the sun today... it's the same old thing as yesterday.

  • The downside wick following yesterday's wax has been lit. The question, of course, is whether it'll wane into the weekend (and spark fresh "Black Monday" chatta).

  • The critter compass? Mixed, in an N's over S's sorta way.

  • The biggest, baddest blackest marks in the market (mark-to-market?) are the financials, as Merrill (MER) takes a 10% haircut, Morgan Stanley (MS) slips 6% and the Citi (C) pity party continues (-4%).

  • And Goldman (GS)-the king of pain in more ways than one-is off a cool finski (5%). That's been the mas tell for a long time so see it, along with the next levels of technical support.

  • Seeds of green? The drillers (after a long, painful underperformance), semis (ditto) and select industrials trade dry. If Hank, er, Snapper can again save the day, look to those sectors as potential vehicles.

  • Did you ever read the Mother Morgan vibage?

  • How 'bout the Letter I War Story?

  • Does anyone else feel like Monday through Friday is one long-arse day and the weekends simply serve as ketchup? That's what it feels like to me although, truth be told, my whole mojo seems a bit more balanced after taking the time to smile and breathe on Wednesday night. You gotta do it--especially when you feel like you can't afford to.

  • A profound sense of sadness indeed.

  • As I was being interviewed this morning, the gentleman told me that I remind him of a big kid with a bigger heart. I responded that I hope I never lose the innocence of that perspective. I continued with my thought that the air gets thinner as you get older and see more-you get hurt by others, you witness lies and understand agendas, you suffer from mistruths and mistakes and you experience loss, whether it's our loved ones or innocence. If I can stay a kid at heart-while keeping my eyes open-then I consider myself quite lucky.

  • I also told him that was the magic of Minyanville-the belief that there is a better way to do business and a truer way to live life. Honesty and integrity trade at a premium these days (look around!) and if we can surround ourselves with a trusted community that has skill-sets that complement our own, our odds of success-and happiness-greatly increase.

  • Answers I Really Wanna Know…


    • With beta such as Baidu.com (BIDU), Research in Motion (RIMM) and Google (GOOG) stretching the N's higher while Goldman, Merrill and Citigroup pull the S's lower, which side will win the tug-o-war into the close?

    • Doesn't this sorta sum up the whole enchilada?

    • Remember when $1000 gold and $100 crude seemed like pipe dreams?

    • Is anyone else jazzed to see the fresh flavor of Hoofy and Boo on tonight's FOX Business Happy Hour?

    • S&P 1490?

    • Are you watching market internals during the inevitable Snapper attempt?

    • Has anyone figured out what candy corn is?

    • And where does it go during the other 51 weeks per year?

    • Wall? What wall?

    • Is A-Rod going to the Dodgers?

    • Did sentiment shift in the financials?

    • What will that mean when the next slew of multi-billion dollar write-downs arrives?

    • And if that's true---if psychology has indeed shifted--how long will a handful of tech stocks be able to provide leadership?

  • Have a fantastic weekend, Minyans, and stay mindful.


R.P.


Holiday Festivus is here! Come join us and support the Ruby Peck Foundation For Children's Education at an old-fashioned Southern-style hoe-down in the heart of New York City on December 7th. Click the image below to learn more!

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Positions in S&P, GS
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