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The Come Hither Hop Scotch!


All's well that end's well and the triple digit gains are very headline friendly.


What, Li worry? It's not like Asia's richest man believes there's a bubble in China. Alright, he does, with Shanghai trading at 51 times earnings. And, as China (and India) are the dogs to the stateside tail, we'd be wise to monitor, dare I say heed, the overseas action on a daily basis (both were up better than 1% last night, by the way).

Meanwhile, back in the states... All's well that end's well and the triple digit gains are very headline friendly. As the S&P probes the top end of her recent range (1515), all eyes seem to gleam towards the all-time highs (what else really matter's these days?). S&P 1530-1550 is the natural draw and you'd be hard pressed to find the variant opinion that it doesn't get there.

But wait, there's more! In a correlated world, where asset class boats climb with the rising tide, the CRB remains at an equally important inflection point. The commodity proxy is probing the 50- and 200-day moving averages and the spring breakdown point. With all eyes on the mainstay averages, this lesser watched sub-plot is worthy of a mention as we fit the puzzle pieces together.

And finally? The other side of that trade, of course, is the US dollar, which has been the fuel behind the five year climb. Makes sense, right? As more money is published to keep the reflation game in motion, the basis of currency declines as greenbacks are circulated through society. That doesn't matter much as long as nobody notices but in a global economy, it's not all about the US anymore.

Further musings on the Thursday blur…

  • SunMicro announced a $3 billion buyback last night, which is good news to holders such as myself. I've been long this name for a while-it's the sole 'core' tech holding in my book-and while recent earnings weren't up to snuff, the fundies aren't my sole motivation. We like the space and, while there is certainly some fat on the bone (it's not 'cheap'), I like the holders (Dodge & Cox) and I don't mind the KKR presence in the name.

  • Our bags are packed, we're ready to go… MVHQ is saddled up and ready to roll to our new digs tomorrow afternoon. This will be the fourth office in MV history, which is all-of-a-sudden five years in the making, and we're excited to spread our wings and expand our presence. We actually got a heckuva deal in the midst of a white hot Manhattan real estate market, which makes the critters proud, and we're looking forward to building upon our existing vision.

  • Not so Fast? I was watching Television's JeffMacke last night on CNBC and my interest was piqued by their lead story about the Superhero Billionaire buying spree. With Buffett, Lampert, Icahn and Soros all buying chunky bunches of US equities, the natural question is begged-are we heading much higher (as Richard Russell recently suggested)? It warrants a noodle-these guys are billionaires for a reason-although all this talk about "no more business cycles" and "new paradigms" seems eerily familiar.

  • "You gotta do what your heart tells you to do. Let me tell you somethin' right now. You're only allowed three great women in your lifetime. They come along like the great fighters, every ten years. Rocky Marciano. Sugar Ray Robinson. Joe Louis. Sometimes you get 'em all at once. Me? I had my three when I was 16. That happens. What are you gonna do? That's the way it goes, you know? Tell you right now. See this girl? Maybe this girl, she put wind in your sails. Maybe she's your first great one." Sonny LoSpecchio, A Bronx Tale.

  • Don't hesitate to RSVP to this little miracle!

    Join us for a "Miracle in Midtown"

    Wednesday May 23rd... benefiting charities including the Ruby Peck Foundation for Children's Education


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