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Random Thoughts: Goldman Sachs Leads Laggy Big-Cap Brokers

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The answer I really wanna know is how quarter-end performance anxiety will manifest.

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  • I'm fatter, er, flattered!

  • You gotta squint to see it but a small S&P pennant has formed. As these patterns typically "resolve" in the direction of the overall trend, we should keep an eye on the SPY.

  • Maybe something, maybe nothing--may be a pterodactyl--but please note that market internals, on both sides of the critter fence, remain flattish (S's slightly up, N's slightly down).

  • While I added some Goldman Sachs puts on Friday, I'm not gonna be a hero if my stop triggers (on the other side of $214). Discipline over conviction bodes well for trading longevity.

  • Naturally, that's the only big cap broker acting snazzy. Deutsche Bank (-2%), Bear Stearns (-1%), Morgan Stanley (-1.4%), JP Morgan (-1%), Citi (-1%) and BAC (-1%) are all throwing caution as we edge through the Monday's.

  • I mused to my buddy over the weekend that slippage in crude might actually bode poorly for the tape. That's counter-intuitive to conventional wisdom but it's familiar fare for ye faithful.

  • Ask and ye shall receive! Minyans have asked that all Hoofy and Boo videos be made available on MVTV and, as we aim to please, we've done just that. Just make sure you check out this Wednesday's episode-it's pretty killer.

  • Speaking of which, it looks as if someone in the Forbidden City saw the Starbucks critter video!

  • The answer I really wanna know is how quarter-end performance anxiety will manifest. The path of least resistance is higher, for now, so it remains to be seen if the path of maximum frustration is a fresh breakout followed by the "Now youse can't leave."

  • Remember the "heads up" we got a few weeks ago that alotta funds had piled into protection (hedges)? I'm getting further feedback from many of those contacts that alotta protection "rolled off" during Friday's (September) expiration.

  • Syracuse wins. Oakland wins. Yanks 1.5 games back. I can't help but wonder if this weekend was as good as it gets for my personal sports portfolio.

  • Pass the Advil! As is typically the case, expiration hangover will likely take a few hours to subside. Keep that in mind as you race for the profit chase during our fresh five session span.

  • Beta (BIDU to APPL to RIMM to GOOG) continues to stand out as funds flock towards the 'biggest bang for the buck' heading into quarter-end.

  • Minyan Marco from Geneva offers that "this paper on risk is a must-read for all Minyans." Thanks for sharing bruddah.

  • Doe Nation: We'll do anything for a Buck! Please keep December 7th circled for the Minyanville Circle of Trust Festivus in Manhattan to benefit Children's Education.


R.P.

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