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Random Thoughts: A Quiet Market Storm


Enjoy the quiet... it's not gonna last one way or the other!

  • What a difference a day makes! Following yesterday's mess, today's fray is a quiet storm. While I have my thoughts on where we're going, how we get there is much trickier.

  • I'm too sexy for my beard, which I just shaved for the first time in six years, but I'm not all that sexy with my current market posture. Following the ride higher and the fade lower, I'm long dry powder and short clam chowder.

  • That could change on a dime but I wanna let the market come to me and avoid pressing when it doesn't.

  • Capital preservation, debt reduction (I have no debt) and financial intelligence (Minyanville).

  • Do you have to eat cuddle fish in pairs?

  • With a spoon?

  • It's a broach... no, a pterodactyl! Hoofy and Boo are looking at the election through completely different lenses.

  • The bull case is that the markets will rally around the precept of change.

  • The bears are banking on the societal acrimony that continues to percolate.

  • BHP Billiton (BHP) for Rio Tinto (RTP), hostile bid.

  • Microsoft (MSFT) for Yahoo (YHOO), hostile bid.

  • Man, there's alotta hostility out there. Do you think this is further manifestation of the social mood swings we've been monitoring?

  • 14 months and 30 pounds ago, I offered on WallStrip that my biggest concern was that the market was at all-time highs but nobody felt like we were at all-time highs.

  • And this is with the S&P 14% from all-time highs. After the first cut in 2001, we dropped 40%. And that's if we stop at 2001.

  • See this chart of the S&P for some context and perspective. The pattern of lower highs that we've been focused on since October remains very much in place.

  • When's the last time you read a poem by Edgar Allan Poe?

  • Things I've learned? Glad you asked!

  • Check out the rude 'tude in crude as it gives back 1.5%. You know my take on this-precipitous declines are a potentially foreboding sign.

  • "The worst January in 18 years followed by the best week in 5 years followed by the worse two day loss since January 2003 underscores just how frantic the playing field has become." Professor Jeff Cooper.

  • A fine line indeed! So you know and so it's said, it's our editorial intention to stay out of the political firestorm that is sure to emerge in the next ten months. What we will do-as we have done-is offer perspective on the financial ramifications of political issues.

  • Minyans are welcome to cut a rug with MVHQ and the Rolling Bones on Thursday night.

  • Man, I miss Maui and Mama's.

  • I'll be doing FOX Business Happy Hour tonight, which I'm told will be a regular Wednesday gig. Cody, Rebecca and I have good mojo and I'm happy to hang in their hood.

  • Flies in today's try? Bear Stearns (BSC), Apple (AAPL), Amazon (AMZN), Baidu (BIDU) and Google (GOOG).

  • The most bullish thang on my screen? 2:1 positive breadth.

  • What am I doing? Less right now.

  • The song in my crowded keppe? It's still this.

  • Dude, enjoy the quiet--it's not gonna last one way or the other!

  • Yes, as I feel it, you're gonna read it.

  • So... have you seen Minyanland yet?

  • Do something Joel. It will change the world.

  • St. Stephen with a rose, in and out of the garden he goes...

  • You should see what doesn't make it through my fingers and on to your screen!


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