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Random Thoughts


How does one talk about a market view without discussing a time horizon?

  • "The legs are long, the eyes are big, the bodies curvaceous…" Buy what about the toes?

  • The intriguing action, to these old eyes, is the greenback (+45 bips). We've been on this like white on rice (asset class reflation vs. dollar devaluation, currency gains helping earnings, etc.) and it remains front and center.

  • Speaking of monolithic movements, please note the Art Carnage in gold (-$10). If the rising tide lifted all boats, the lower tide (or, the other side of a stronger dollar) will weigh on equities as well.

  • We spoke about Apple this morning and the all-out orgy in the name (cover your eyes, Granny Smith!). How this name acts today will help us shape which inning we're in with regard to the mo'mo mindset.

  • I said to Chach last night, when the Apple headlines hit, that a confident, in-the-office-next-week Toddo woulda put some stock out around $103. I didn't, but I'm not entirely sure that it's too late. Either way, last night's highs are a decently defined short-side backstop.

  • SunMicro isn't a pure earnings play. Indeed, in an environment where private equity plays are all the rage, I'm surprised this (previously reported) news isn't getting more play.

  • Snoop Tony Dwyer has earned my respect over the years and has Street cred, particularly since he pulled back his horns before the February dip and got bullish into the teeth of the correction.

  • So, can the DJIA hit 15,000? Absolutely, if the dollar index continues to break lower. That's the qualifier and context for this entire discussion.

  • On Tuesday, May 1st, there will be an uber-fun event at the Stone Rose in NYC to benefit those affected by the tragedy at Virginia Tech. Minyans are welcome in size but ya gotta RSVP in advance.

  • While the pink piggies (read: Red Banks, NJ) may very well be a restful rotation, keep in mind that BKX 117.25-118 remains resistance. Indeed, despite everything you've heard about the health of the tape--and with a conscious nod to their leadership off the lows--the BKX has yet to "confirm" the up, up and away scenario.

  • "Talk of Chinese policy serving to slow reform in the Chinese currency has the dollar trading stronger. This is rattling the metals and with the dubious chart formation in copper early this week, stops on long positions were raised and have been executed on gold, silver and copper. Hey, Brother Bennet - good call on the gold yesterday! I will look to establish long positions after a good correction." Professor Sally Limantour on yesterday's Buzz.

  • Maui Wowie! I don't know if I'm angry, cranky or just plan chilly but I'm really looking forward to next week's vacation. Seven days away from the flickering fray sounds mighty appealing right about now.

  • Answers I Really Wanna Know...

    • Does it mean anything that Apple "only" rallied back to par ($100) with this mini-snappage by the broader tape?

    • Is there any truth to the rumor that Daisy has been spending weekends in Malibu with a certain new MV Professor?

    • Do you see the homies trying to dislocate the right shoulder of the dissipating dandruff?

    • Is this a healthy rotation (out of, say metal equities)?

    • Or will commodity volatility once again precede equity movement?

    • What goes on in Mittelbrandenburgische Sparkasse?

    • Did the ultra-svelte Tony Dwyer really leapfrog DJIA 14K and call for DJIA 15K?

    • Y'all see market breadth is still 3:2 negative, right?

    • How does one talk about a market view without discussing a time horizon?

    • Red Sox?

    • Whataya all think of Hoofy & Boo's latest views?


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Position in SUNW, gold plays
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