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Randoms: Throwing Stones on the Beltway


Ken Lewis gets grilled on the corner of Joel and Weir.

  • As a trader, I don't have the skill-set to pass judgment on the intricacies of the political process. Given how complex the financial machination is on a relative basis, I would venture to guess a fair share of today's grill masters are flying blind.

  • I'm not saying there isn't culpability on Ken Lewis' part-as the CEO of Bank America (BAC), as with any CEO (hand raised), the buck stops there-I'm simply saying the American Grandstand drips with hypocrisy as many lawmakers reactively act for the camera versus proactively policing policy as they should have done in the first place.

  • Sorta like "Glass Houses" meets "Throwing Stones," right?

  • Does anyone else think Ken Lewis has an ace up his sleeve? It would be a real bombshell if he disclosed that the government first twisted his arm to buy Countrywide Credit. I don't know nuttin' but I would be genuinely shocked if there wasn't, at the very least, a fair share of encouragement.

  • According to John Williams (and passed along by my brother Scott Reamer), the unemployment rate, if calculated the way they were before the Clinton administration, would be a stunning 20.5%.

  • This week's episode of our Emmy Award winning Hoofy & Boo's News and Views is one of their better shows, in my humble opinion. It's still somewhat surreal that these critters have come so far (and to think, they've only just begun!).

  • The last thing this fragile economic "recovery" needs is a global pandemic dampening demand (which of course pales in comparison to the human toll).

  • Always early what? Through a trading lens, the fact that nobody seems to "care" carries much more risk versus how many people cared when this puppy first broke out.

  • Remember, support (resistance) gets weaker with each subsequent retest as a layer of demand (supply) is absorbed. You can make a case that both S&P 920 and 950 has been probed more than Fletch and the latter matter has been continually tested of late.

  • You don't have to agree with everyone in the 'Ville, you simply need to express your views sans acrimony. The friction between opinions is where true education resides and I, for one, like to know what the person on the other side of my trade is thinking.

  • Qualcomm (QCOM) raises guidance and is struggling near the flat-line. Reaction to news is always more important than the news itself.

  • Opportunity cost is the other side of discipline. I stared at my Research in Motion (RIMM) exposure as the closing bell approached yesterday and had a strong sense that it would open higher this morning. In the end, steady discipline trumped that high level of conviction.

  • WWBD? Prolly ping to tell me Goldman Sachs (GS) and Google (GOOG) RED.

  • Palladia is hands down the best new cable station (watch it in Hi-Def if possible). Last night, they had some rockin' Dave Matthews with Warren Haynes footage. If you haven't listened to Warren jam, you're missing a special talent.

  • "Yesterday was the 66th trading day from the March 6th low of 666 S&P. On an inflation adjusted basis from the 1982 low to the Mach 2000 peak, the S&P was up 666%." Jeff "Coops DeVille" Cooper on today's Buzz.

  • We're going "old school" next Friday night for a 40th Anniversary fest. Seeing old friends is good for the soul and it's a blessing I'll never, ever take for granted.


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