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Random Thoughts

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As an old sage used to say, take care of the minutes and the hours will take care of themselves.

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  • Many thanks to my friends at Marquis for the Steely Dan vibes yesterday. It's nice to jump in a time machine once in a while.

  • Key tells thus far? INCONCEIVABLE! (I do not think it means what you think it means). OK, perhaps they're just inconclusive, with the financials flattish and market breadth skewed Boo.

  • The homies (HGX -1.5%) and trannies (-60 bips) are potentially more problematic for Hoofy, as is the laggage in Beta (after their stellar out-performance last week).

  • Still, the tape hangs in there, offering a possible window for Snapper.

  • Watch Goldman as a big tell as traders position for earnings on Thursday.

  • Professor Markman's opening salvo (last week) reinforced my belief that energy will ultimately recapture the top weighting in the S&P. The caveats are 1) many of these names are so extended (the OSX is 18% above it's 200-day) and 2) any burp will morph absolute gains into relative performance.

  • As a fledgling presence in the financial media space, we're closely watching the Dow Jones paper chase ( particularly with GE (CNBC) seemingly bowing out).

  • I told Hoofy and Boo to focus on doing what they do best and let the chips fall where they may. As an old sage used to say, take care of the minutes and the hours will take care of themselves.

  • I've long thought that stock picking contests encourage reward chasing behavior vs. risk management disciplines. That's one reason why you'll never see such promotions in the city of critters.

  • Who woulda thought that Sopranos fans woulda been the ones that got whacked last night? The Belmont had more action and excitement in two short minutes!

  • I've been in this business for almost 17 years and I learn something new on the Buzz each day. This morning's back and forth between Professors Markman and Jason Goepfert regarding the legitimacy of selling climaxes is fantastic fodder.

  • Finally, a moment of silence is in order for John Brooks of Lowry's, who passed away Sunday morning. John was a pioneer in the technical arena and a very good man. White light to his family and friends during these difficult times.

  • May peace be with you.


R.P.

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