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Freaky Friday Potpourri


Overnight and across the pond, the world is a perkier place...

  • The Minx had every excuse to slip into Red Dye yesterday but, alas, the reaction to news (underlying bid) was more important than the news itself (China). Overnight and across the pond, the world is a perkier place, with Shanghai up 4%, Europe swinging singles (1%) and India tacking on a deuce.

  • So where to art thou, market? The next discernable resistance on the S&P is 1530-50, while support remains nestled below at S&P 1450. Yeah, if I were still at Mother Morgan, I would scream "You can drive a truck through that market!" and, well, you could. So, with such a wide technical chasm in our midst, I'm gonna shift my attention down the curve to individual sectors and particular plays.

  • In that vein, please watch the trannies (ewww!) at TRAN 5200, the semis at SOX 492, Duke & Duke at XBD 248ish and the piggies into BKX 117.25-118.

  • That the 'inside-out" view. From 40,000 feet, I continue to feel that the dollar is the level for asset classes in general. If it catches a bid, as Pepe has alluded that it might, all bets are off.

  • I opined three years ago that I wanted to buy dips in the energy and metal arena and sell blips in the financials and high multiple tech. That's worked, by and large, although I haven't played it as large as hindsight would perhaps dictate. What names am I eyeing as we cast our gaze towards the horizon? These, naturally. Every Minyan professor is here for a reason and they've earned my respect through the course of time and price.

  • OK, so you're reading Minyanville and have exhibited an obvious interest in the financial markets. But do you know how the Wall Street bull and bear came to be? One of the fantastic aspects of the Minyanville community is the nuggets nestled within our website. Go to the home page, click on "our town" on the left side navigation (make sure your pop-up blocker is disabled) and read our virtual book. It's a quick ditty on the history of the bull and bear and how Hoofy and Boo's ancestors, Bovine Maximus and Ursine Aurelius, founded the city of critters.

  • How much of this week's jig was expiration related? Like Tootsie's pop used to say, the world may never know. But what we do know is that that alotta stocks will be bowling for pins today. Watch for names near the strike where open interest is out-sized relative to average daily volume.

  • With vols where they are (VXO 12ish), I'll again offer that there are ways to craft an advantageous risk reward regardless of your particular market bent. If you're a derivative newbie, please check out Professor Succo's most excellent option tutorial.

  • Capital One is taking it on the chin. Google is going for an upside spin. That's a recipe for N's over S's today, which is to say that day traders may look to buy the former on dips or sell the latter on blips, all else being equal.

  • Alright, so the question on the lips of multiple Minyans is where oh where will MIM4 be? The first soiree (80 Minyans) was in Crested Butte, CO. in 2004. The redeux (170 Minyans) was in Ojai, CA. the following summer. The hat trick occurred in Vail last summer, with 240 Minyans and a CNBC simulcast. We're weighing a few different options, including a "back to basics" kick-back effort, and we're listening to our community. If you haven't weighed in yet, my friends, please do so. We're getting close to trigger time.

  • "The private equity market has inflated quickly but there is little chance of the bubble bursting," said Henry Kravis. In other news, Ben Bernanke was spotted canoodling with Goldilocks, George Steinbrenner said he's got the best pitching in the majors and Al Davis has reserved hotel rooms at the next Superbowl. Hope springs eternal.

  • Semi Cat, Se-mi Cat, what are you thinking of…?

  • "A few weeks back, I posted some longer-term analysis making a case for an emerging move to new highs in the Semis. Specifically, my firm's quarterly value levels (dark blue lines) had reversed (See the chart here, point A) from declining to rising, indicating an increase of buy-side order flow into this sector supporting a mark-up in prices. My firm expects the Semiconductor sector (SOX) should tag 512-520 (near point B) as a minimum upside objective." Professor Jess Thompson on yesterday's Buzz.

  • "While not as liquid as SMH (semiconductors), I prefer IGW, the Goldman Sachs semi ETF. It is a much more diversified group of companies, which I like. So I bought a chunk in the high 63's and will look to hold into the summer. I will also add on dips." Professor Bennet Sedacca on yesterday's Buzz.

  • SMH 36. Don't anticipate the anticipator. Me. Here.

  • Enjoy the weekend, Minyans, and don't forget to breathe!


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