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Random Thoughts: Underlying Bid in Financials and Homies?

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The financials and homies were the two sectors amongst the first to fail...

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  • Why Two K? Because past support is future resistance. Tech has room to that level, and then the games begin.

  • As goes the piggies, so goes the smoke. If, prey tell, Snapper saves the day, the single best tell will have been Merrill (MER). You can learn a lot just by watching.

  • Keep it in perspective, however, as we've got a layer cake of resistance above in all sorts of sectors.

  • American Express (AXP) and McDonald's (MCD) account for 75 downside DJIA points.

  • Citigroup $30 is initial resistance, we know, but keep that level in perspective. The more oversold a stock is, the less impactful the first layer of resistance tends to be.

  • Are you ready for some football? Go Packers, go Jags, go Bolts and Go Jints!

  • "Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."

  • Why don't cannibals eat clowns? Because they taste funny.

  • File this under "may be nothing, may be something, may be silly" but there is an underlying bid in the financials and homies today, which were the two sectors amongst the first to fail. Whether this is simple reversion or an early tell remains to be seen but keep your eyes peeled as we figure it out.

  • Wowzers I'm tired. And to think that a week ago I was standing hanging with tasty waves and a cool Bud. Why is it that vacations always seem to fade so quickly when we edge back to life, back to reality?

  • Hey, it could be worse Johnny! As always, I hope this finds you well.


R.P.

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