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Outbreak! The Other Side of Anxiety


Frustration hits the Street.


The palpable frustration that dominated Matador City for months has spread like a virus to the bears of Red Dye. Indeed, acrimony has gone airborne in the second quarter as the vicious rip and slow drift have combined for a most toxic ursine brew.

I offered last month that in a true bear market, nobody makes money-not even the bears-and the other side of the pain trade is upon us. It's a great trading market if you bought the abyss and rode 'em to resistance. I don't know many folks who are quite so fortunate, however, and tension is rising throughout the Street.

We've got room to run before the true test arrives so I'm picking spots and staying slim until I see a better contextual set-up. It's not the sexiest thing to say, I know, but I'll leave that lingo for the weekend when I can put it to good use. Suffice to say that under the "know thyself" rule, this tired Minyan is counting the minutes until our requisite respite.

A few points of parliamentary procedure:

  • Yeah, I see Baidu (BIDU). Color me there if, for no other reason, I've been obsessing about the defined risk.

  • I don't think the Fed had a choice in the Bear Stearns (BSC) saga as the "other side" of inaction would have been the big one.

  • My fear-and the obvious risk-is that we can't have both an interwoven financial machination and confidence that it was a one-time event.

  • I'm rooting for three things: A UCLA-North Carolina NCAA championship, alotta money for the kids (from those who didn't win the Minyan March Madness) and someone to please tell me what the heck a Tar Heel is.

  • Why hasn't someone created Manhattan Zip Lines? It is an environmentally friendly and incredibly fun transit solution.

  • My Gawd, will there be 50,000 critters in Minyanland by this weekend?

  • I see Macke and Adami circa 1977 but who the heck is that third dude?

  • While this tape "feels" like doing less, does anyone else get the sense that the "can't get 'em down" crowd wants to whine higher?

  • Is a rally to S&P 1405 (12,800) too easy?

  • Who gets pimples at 38, honestly?

  • Remember how sure people were that tech was a new paradigm in 2000?

  • Or real estate wasn't a bubble a few years back?

  • Or China was in a world unto itself in October, when it was 43% higher?

  • Is that same sentiment in place with regard to credit?

  • The average mind thinks 60,000 thoughts per day, of which 40,000 are recurring. If you factor in all the time you spend planning and thinking about what you've got to do, how many of your conscious thoughts are mindful and present?

  • The answer, naturally, is not enough. Keep that in mind-pun intended-as you kick back and breath deep this weekend. The purpose of the journey is the journey itself.


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