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Freaky Thursday Potpourri: The Liberty Dwell

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Tired, poor and huddled masses are yearning to breathe free

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The holiday stretch is upon us and not a moment too soon. Following the bi-polar stroller from the depths of despair to an all-clear repair, we tee up the back nine much the way we started this round, albeit with a few less hair follicles.

As mentioned yesterday, I'll deep dive our ten themes on Monday when most folks are back in the saddle. For today, I'm gonna invoke my A.D.D. poetic license and hopscotch a few topics that are rattling around my crowded keppe. There are crosscurrents galore, so let's hop to it and juggle the struggle:

America's Worst Nightmare!

Our peeps on the Street tell us they've seen "meaningful real money buying" in the homies over the last week or so.

As the homebuilders were the first sector to fail-a domino that hit the financials, financials in drag (General Electric (GE), General Motors (GPM), Ford (F)), retail, tech, energy and so on and so on-they're worth monitoring for signs of life.

While I doubt we've hit bottom (consumer despair will likely arrive in waves), we can learn a lot just by watching. Through that lens, please note the long-term downtrend line (and attendant pennant) in the HGX.

If O-Dog and his crew roll north, Hoofy will likely ride shotgun.

Answers I Really Wanna Know...

  • How do you reconcile "never short a dull tape" with "using price action to your advantage?"

  • Carefully?

  • Does anyone else sense a seismic currency readjustment brewing?

  • If your longs were shorts and your shorts were longs, would your perception of the price action be any different?

  • The Wall Street Journal-China will be running Memoirs on their front page as a daily column for the next 18 weeks? (yes)

  • Who was it that said you don't have to outrun the bear, you just have to outrun your friend?

  • Whose idea was it to reverse-split American International Group?

  • Did you see the heavy action in Wells Fargo (WFC) and American Express (AXP), Amazon, Baidu (BIDU), Research in Motion (RIMM), (Sears (SHLD), Target (TGT) and Home Depot (HD) relative to the market?

  • How would Sisyphus trade this tape?

  • Why can't I have hair inflation and weight deflation instead of the other way around?


Have an awesome holiday stretch, Minyans, and remember to Do Something Joel as a random act of kindness is a powerfully positive pebble in the pond of life.

R.P.

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