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Random Thoughts: Mother Morgan Is Rallying


There's a funny feeling in the air that Mother Morgan might be takeover bait...

  • I spent this morning chewing through two very important topics: The Transfer of Wealth and the Blame Game. Both are important topics and worth a read (in my humble view) if you've yet to noodle.

  • PIMCO my Ride? Bill Gross opines that the US has already fallen into a recession. I agree, as Minyans know, as it's been masked by the falling dollar and skewed by the 'haves." This sorta supports that we're toggling the first trimester in the denial-migration-panic continuum.

  • By the way, remember those nosty back and shoulder problems I had for so long? An ergonomically correct chair and a roller ball mouse pad have proved to be a very reliable cure.

  • Once expiration influences abate on the close--and considering that ranks will be thinner than Kate Moss on Atkins next week--the potential for mas vol exists. With the VXO at 20, that again smells like the best bet on the board.

  • In recent weeks, we mapped out a few reasons why Santa's plan might gain weight. There were the Eight Rays of Light into Chanukah (wait--is that mixing metaphors?) and, yesterday, perception that the liquidity tide might be flooding Boo out of his cave a bit.

  • I've been trading around the long side but my bovine inclinations abate as we edge towards S&P 1490. That's not to say we can't power through but, truth be told, the onus is on Hoofy to show these bears of will what will really is.

  • We still have ten handles before the inflection point, mind you, but I wanted to put it front and center on ye radar. I'm yet unsure if I'll flip lids and fade trades (read: get short) but I'm most certainly selling my latest long-side nibbles into this lift.

  • There is some chatter regarding the fact the 50-day has crossed below the 200-day, which some consider to be an ominous sign. For what it's worth, Professor Goepfert has debunked that myth in the past.

  • Wall Street bonuses and the changing face of finance are front page news. As there are a slew of new Minyans in our midst, I thought this would be a fine time to revisit The State of the Art.

  • I'll be doing the FOX Business Happy Hour thing tonight, along with various times next week, but the purpose of this post isn't to draw attention to me. The Hoofy and Boo episode, which will debut on the show, could very well be the funniest segment they've done to date.

  • Note Bear Stearns (BSC) and Wells Fargo (WFC), which are playing whack-a-mole, along with Mother Morgan, which is up nicely and approaching initial resistance at $55 (the resistance is at $60, we know).

  • If Minyans wanna fade this rally in Morgan (MS), I would suggest defined risk puts rather than short stock. I got a funny feeling (completely nonsensical and without merit or validation) that this franchise might be takeover bait. I don't think John Mack will go out that way (I have nothing but respect for the man) but I can't seem to shake this vibe from my keppe.

  • For Gawd sakes, Minyans, whatever you do... Hold On!

  • The highlight of next week will be a Wednesday visit from my niece and nephew Maia and Bradley as they catch bugs on the Minyanland Beta. This is our kid's initiative and it's massive. It's been a long time coming-six years!-but the longer you wait for dinner, the better it tastes!

  • Fare ye well, Minyans, and on behalf of the entire Minyanville family, we wish you a healthy, happy holidays filled with love and light. I'll be here, mind you, but hopefully, you'll be focusing your time on the important stuff. The purpose of the journey, as we say, is the journey itself.

  • May peace be with you.


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