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Freaky Friday Random Thoughts

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Enjoy the weekend Minyans and remember to smile. In 100 years, today's P&L won't really matter that much.

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  • Continued geopolitical concerns and Chinese tariff chatter have thus far trumped perceived quarter-end gamesmanship.

  • A Debka report (that American investors in Bahrain were advised to pack up operations and leave), coupled with a Eurasiagroup memo (expecting a stand down in the coming weeks) is fueling fear in the region.

  • I've got a handful of longs that I'm holding onto, including GSS, SUNW and WEL, married against a spate of financial and index puts. Right or wrong, that's what I'll trollop into the weekend with. My net exposure remains skewed short with positive gamma.

  • If you're diggin' the Minyan Mission , please feel free to share it with those in your network or community. We'll give you a free month for every Minyan you refer our way!

  • THE tells into the close?

  • Lotsa chatter out there on quarter-end marks. Could happen, I suppose, although my experience in the post-Spitzer world is that it typically occurs in the days prior to the final session.

  • The curiously strong bid in the emerging markets yesterday has not escaped me.

  • March Madness will be front and center this weekend. GO BRUINS!

  • Keep crude on your radar as a tell. Again, while I've been of the opinion that this asset class will rise--and fall--with equities, it's shifted as a proxy for MidEast unrest. If the Strait of Hormuz chokes up, a whole lotta folks are gonna be walking to work.

  • I met you through my homie now you act like you don't know me? I haven't touched the homebuilders in a while but I'll offer that this zone will break, it's simply a matter of when and, perhaps more pertinent, whether a battle breaks out to the upside first.

  • Bloomberg reported Bank of America's (BAC) comments that U.S. homebuilders could trigger a correlation crisis similar to the credit sell off in '05, when both Ford (F) and General Motors (GM) lost their investment-grade credit ratings. We've chewed through this in the 'Ville for quite some time. The financial news you need to know before you know you need it!

  • Pepe gave us a nice heads up in Boots and Coots. If this stock (+10%) is indeed a proxy for geopolitical unrest, risk paring into the weekend will trump quarter-end marks.

  • Happy Passover, for those observing-this should bring a smile to your face! I'll be out on Monday, vibing with the family, but should be back in the saddle on Tuesday. Enjoy the weekend Minyans and remember to smile. In 100 years, today's P&L won't really matter that much.


R.P.

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Position in SPX, GSS, SUNW, WEL
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