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Monday Morning Quarterback: Hank Goes Deep!

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Treasury takes a step toward recovery.

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Random Thoughts:

  • There was a time when "General Electric" and any hint of "accounting irregularity" would be the lead story in the press.

  • I've got some General Electric (GE) puts and the strategy, as discussed Friday, was to set a stop on the other side of $28.

  • In the spirit of the season, I'm going to call an audible and see how this opens before calling my next play on the Buzz & Banter.

  • Policies and the ramifications thereof come in waves of psychological and structural acceptance. That's an incredibly important point to remember as we find our way.

  • Hedge Fund Shutters remain in play and that will add to unforeseen crosscurrents in the marketplace.

  • Will the higher dollar be a chicken of causation or an egg of effect?

  • I continue to have the "consumer vs. consumer" pairs trade on through calls in non-durables such as General Mills (GIS) and Coca-Cola (KO) (margin expansion due to input cost deflation) and puts in Sears Holding (SHLD) and Wal-Mart (WMT) (the other side of retail therapy).

  • In that regard, pay particular attention to Campbell Soup (CPB) earnings on Wednesday for hints on how the pass through is playing out.

  • Also remember that Wal-Mart is a two-stop shop, with the first level of resistance at $61 and the other at $64.

  • While I ultimately foresee crude lower as a function of slowing global growth, I've been trading the USO from the long side into par ($100) for a trade.

  • The weekend news-which is dollar negative-should help that position out of the opening gate while Hurricane Ike might provide an additional bid. Again, just a trade.

  • Seven years on Thursday. Unbelievable. I would be lying if I said it didn't "hit me" this past weekend, as it does in waves, albeit less frequent.

  • We'll be "celebrating life" at MVHQ when that closing bell rings, trying to prove once and for all that if something good comes from all things bad, that something is sometimes perspective.


And Finally, Some Answers I Really Wanna Know...


R.P.

Positions in GE, GIS, KO, SHLD, WMT, USO
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