Editor's Note: Todd posts his vibes in real time each day on
Buzz & Banter
A new week has arrived and to understand where we are, we must
appreciate how we got here. In an effort to set that stage, let's
revisit some of our discussions from last week.
We've spoken about our
Surgical Approach to the Stock Market.
We looked back at 1987 for a historical context.
The Most-Hated Rally of All-Time
, and fingered a plethora of forward catalysts.
We chewed through
social mood, and discussed why Kim Kardashian "matters"
to the market.
We dissected Big Ben --
perhaps too much
We even brought Hoofy & Boo back to life on behalf of
And we noodled the notion of
The Gold Scold, Part Deux,
given the growing chasm in the chart below.
With respect to the past, mindfulness in the moment, and an eye to
the future, we offer the following Random Thoughts:
Wall Street Journal
released the now-famous "Fed tapering" article on an 80-degree
summer-esque Friday night at 7 p.m. EDT; man, these guys play to
the human condition. If a company released earnings at 7 p.m. on
a Friday night, some might view it as slim-shady; when the
Federal Reserve (indirectly) does it, it's considered savvy,
insofar as it allowed for a weekend of digestion.
) don't seem to care about the
Wall Street Journal
article, or the Bloomberg Big Brother mess, for that matter.
- It seems to me that one of the reason
social mood is as it is
(despite all-time highs) is because past generations-those
retired-are getting hammered on their fixed-income lifeline while
future generations (our children, and recent graduates who cannot
get jobs) are feeling the "other side" of policy. Nestled between
them is a middle class that has been exported, with only some of
them invested in the stock market, thus benefitting from the
- Yes, we must trade the tape we have, not the tape we want;
that's a different discussion.
- N's over S's today (
(INDEXNASDAQ:NDX) outperformance of
- I'm seeing the expansion of implied volatility-it's stealthy,
yes, but it's out there-which makes me wonder if we're gonna see
a meaningful volatility uptick in the weeks ahead. For more on
volatility, theta, and other Greeks, click
for a terrific six-part primer.
- If you haven't seen the
30 for 30
Bo Jackson segment
, I highly recommend it. Bo knows class (and he also knows hip
- I've steered clear of small cap cannabis plays (too thin for
my blood), but I still think opportunities exist
in terms of a investing thesis
- Ten, 12 years ago, I went against the grain and posited that
the legacy of Alan Greenspan -- who at the time was hailed as a
Golden God -- wouldn't persist....that, before the dust settled,
his policies would be called out for what they were (pushing
comeuppance out on the curve). I would offer that Big Ben will
see much of the same, current equity levels notwithstanding.
- Chin up, my friends, and remember, it could be worse --
it could be raining!
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Media, has a business relationship with BlackBerry.