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Random Thoughts


Tomorrow is a HUGE day for the Minyanville mission as we unveil Hoofy & Boo's News & Views.

  • It's hard not to like Tiger but I found myself rooting for the kid when push came to shove. Of course, I wasn't smart enough to take 150-1 odds on him like Professor Sedacca did. Thanks for the show, bro.

  • The biggest fly in the upside try? That would be the non-participation of the banks, from where I sit. Keep close tabs on the piggies as they're poking directly at the 200-day moving average (113.50). If they can find footing and get on board the Matador Express, the bulls will enjoy another leg higher. If they break lower, the divergence will once again be telling with the benefit of hindsight.

  • Where's there's smoke, there's private equity? That's been the chatter in Dow Chemical and, evidently, the fire is beginning to smolder.

  • But if the US wouldn't let a Middle East consortium buy ports, are they really gonna let 'em buy a chemical company?

  • I remain long Entourage and short The Sopranos on a pair (not in a fight). Television's Jeff Macke® has aggressively taken the other side of that trade.

  • I've been leaning slightly short (index puts vs. individual longs) with an eye towards S&P 1450. That level is a kitten's whisker away and it's front and center on my trading radar as we edge into a fresh five session span.

  • I'm gonna be heading to Rubyville late Friday to vibe with the Margarita Maven. It simply doesn't get better than that.

  • "Emerging market risk spreads tightened on Tuesday to an all time low of 163bp (JP Morgan emerging market index) – "a sign of investors' increasing appetite for high-yielding assets. Spreads tightened three basis points according to the index, breaking the previous record of 164 basis points reached on Feb. 22, a few days before a sharp sell-off hit emerging market assets across the globe." (Thank you Minyan AC)

  • A few Minyans have pinged me to note the record high uranium prices, offering that while it's been under the general radar, they were surprised that it hasn't been monitored more closely on Minyanville.

  • I've heard of first class and coach class. But no class?

  • The emerging markets continue to be well bid (EEM +1%). In a globalized economy, we've gotta respect that action.

  • Despite the 2% rally in the VXO, I continue to view implied volatility as one of the broader chasms between perception and reality.

  • I continue to hold a handful of core stocks, including SunMicro (+1.7% and back above $6), Goldenstar (+4%) and Boot & Coots (for schnitz & giggles). Against those (and others), I have a slew of index puts, which added to earlier (leaning against S&P 1450).

  • If we pop through this zone--i.e., if the banks bounce and embolden the bulls, I'll pare some of the incremental puts and, because vols or so low, keep some vs. added long side exposure.

  • Stocks to watch? Accredited Home (LEND, -4%), the rails (on Warren's Buffer), Dow Chemical (both as a private equity AND isolationist proxy) and Google (tech sentiment proxy).

  • Tomorrow is a HUGE day for the Minyanville mission as we unveil Hoofy & Boo's News & Views. Stay tuned and hold on to your hat!


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Positions in GSS, SUNW, WEL, SPX
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