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Random Thoughts: How Bad Will the Financials' Reports Be?


Trade a tad smaller and be proactively patient. If you're staring at every single tick, odds are you're too big in a thin tape...

  • I've heard of spin cycles but spin psychos?

  • Macke and I were wondering, on the way to Petty Saturday night, if we were showing our age. "Do you think kids look at us the same way we would look at our parents when they were jazzed to see Bobby Darin?" By the way, and so it's said, he can still rock.

  • While the S&P tickled through the previous downtrend line (from the summer high) on Friday, it's worth noting that 1) we're still in the midst of tracing out three "lower highs" and 2) that trendline happens to overlap with the 200-day, which now rests at S&P 1457.

  • Bad seasons define good fans and bad times define good friends.

  • "…I also exited XLV and PPH over the last two days and am back to my largest cash position of the year. So ya know." Professor Bennet Sedacca on today's Buzz.

  • A hairy and beary Boo danced into MVHQ this morning wearing a smile and hummin' some Petty. He was feeling good about the early morning price action although I told him that A) it's very light, B) it's uber-thin and C) he's only now recaptured half of Friday's upside ride.

  • NYSE internals find three red for each ahead while the Nazz is 2:1 negative.

  • I just wanna be hugged- is that so wrong?

  • BKX 111.50 remains the level of lore--and that piggy pennant remains in place--although I admittedly wish my "defined risk" was a bit more...defined.

  • I continue to "trade around" my long S&P puts (read: short bias) and, in a perfect world, will enter the Labor Day fray a bit lighter than I currently stand. While I own "out-month" paper, I wanna focus on three things this weekend. Friends, tennis and tunes.

  • Nobody expects to hear good things from the financials when they report. The questions I'm wondering are 1) Just how bad the reports are and 2) what their field position will be heading into the reports. We've got some time to figure this out but, as my mom used to tell me, when it's on my lung it's on my tongue.

  • Hey, did you see this thing? No, not that Thing -- this Thing! Countrywide Financial is off another 6%, sans media fanfare, as it edges ever-so-closer to the all-important $18 level (where the convert was struck).

  • Trade a tad smaller and be proactively patient. If you're staring at every single tick, odds are you're too big in a thin tape.

  • One in a while, you gotta take a step back and a deep breath. Such was the case at the end of last week when I called an audible and executed a flawless Friday night face-plant. Never forget to be good to yourself as true mindfulness begins within.

  • "The IYR appears poised to roll over, again. Ditto OIH, which closed at the high of the session Friday right at its 50 day. Many times when a stock or an index closes at the very high of the day, at resistance, after a multi-day run, it tends to define a high. In fact, there are an abundance of sectors, including the leader to the downside, the BKX, that look poised to roll over. That does not necessarily mean the downtrend will accelerate from here immediately (if that is in fact what is in the cards) without one more retest at these levels, given that it is a thin week going into Labor Day and Bernanke's speech at the end of the week. Moreover, even in pronounced downtrends it is not unusual to see a two week rally, just as two days against the trend is typical of fast moves." Professor Jeff Cooper on this morning's Buzz.

  • Is it me or does Michael Vick look a lot like Chris Rock on 'roids?

  • Good luck and always remember that you're a Minyan!


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