Random Thoughts: Shorting Lebron, the Google Dynasty, and Dollar Dandruff

• I scribed my ten-year writing anniversary "review" but somehow managed to leave out the entire rhyming phase!
  
  
• How do you short Lebron? He's overbought, sentiment is one-sided, and has he has plenty of downside (Get it? Because he’s tall).
  
  
• The French Competition Authority -- wait, is that an oxymoron? -- has officially declared Google (GOOG) a monopoly. Does this matter? Only insofar as it's another ingredient in the brewing stew of protectionism, or the other side of globalization.
  
  
• Every time I see this picture of Gov. David Paterson, I think of Tony Montana.
  
  
• If we get a bungee to S&P 1040 at a point, please remind yourself that a retest of a breakdown is traditionally when you're supposed to initiate short-side risk (just as a retest of a breakout is when you're supposed to initiate upside risk).
  
  
• Should I share a thought from a Minyan, who's partner's son works in Dubai and is telling him that banks in the region are taking steps to protect themselves against a geopolitical 'event' similar to steps taken prior to the two US-Iraq escalations?
  
  
• Note that Gold rallied up to the 50-day moving average (1214) and failed, at least for the time being. That's a level while 1250 is the level; see 'em both as we find our way.
  
  
• The interesting item yesterday wasn’t where the stock market finished but the action in the Dollar/Euro. Starting about 11:00 AM, the dollar lost almost 3 cents against the Euro. Could another tried and true market dynamic be un-correlating?
  
  
• This is a great article -- and nice visual -- from Professor Atwater on The Ski-Jump Economy.
  
  
• We saw it in the S&P, which "works" to S&P 860. We spied it in General Electric (GE), which "works" to $10-ish. And now it's happening in the dollar index (DXY). Note the dandruff, which "works" to 81.70.
  
  
  Click to enlarge
  
  
• It's called a process of priced discovery. Please keep that in mind as we find our way through earnings and beyond.
  
  
• I’ve shared my thoughts through a near-term lens (thin ranks, S&P 1040, BKX 50, the tape is technically challenged with an earnings avalanche on tap) and a larger aperture (The Eye of the Storm, The Phantom of Deflation, to get through this we need to go through this). Doesn’t make it right, just makes it honest.
  
  
• How about some white light to our southern Minyans as they brave the hurricane? Seriously, a hurricane? After all they've been through?
  
  
• A wise man once said, "Be good to others and better to yourself." That's sage advice, no matter where you stand, or with whom.
  
  
• I’m outie next week to unplug and recharge the batteries. I like taking this week each summer as I only miss four sessions -- it’s efficient relaxation! Enjoy the break, be safe, smile 'til your face hurts and don’t drive drunk as it’s just not worth it.
  
  
• May peace be with you.

R.P.