- Yesterday, the market tanked up until about noon Eastern, and then staged a big moster comeback. Mark Haines was on CNBC this morning talking aboutyesterday's "v-shaped bottom." Now, I understaind Haines' focus on bottoms, as he works alongside the sultry Erin Burnett. (Yes, just trying to work that line in there). My thoughts are that we're due for a rally and options week may be the catalyst, as are the oversold levels and some good news in semi-land last night from TXN. I still think we're in the mid-term election year correction and that it'll probably last for the summer. While I've increased my beta near the bottom of what I think is a trading range, it'll be tempting to trade around those positions as we move to resistance. I'm not sure how good I am at that, so I might be hesitant because I do think we're still in a bull market and that the high-beta holdings that I've picked up will be at much higher levels down the road. We shall see.
- (Bottoms!)
- CNBC does seem to have the babefest going on. Blondes, Brunettes, and Redheads. They cater to all needs. Would you be opposed if CNBC went to a Naked News format? As they babes give the stock numbers, they could disrobe.
- Since I started this early in the morning, the market rallied and then fizzled into the close. What a day. We have options week in the on-deck circle, a Fed meeting and then end of month. June will continue to be interesting with catalysts ready to leap out at and spook or excite folks! At least it's friday. Round 'em up and send the bus home.
- "Prairie Home Companion" getting mixed reviews. Sounds kind of boring to me, but I've never listened to a complete radio show. Sure, I've heard a few bits here and there and I know some of the one-liners that are in pop culture. But that's about it.
- June is Dads and Grads month. First time for me without dad. But, on a more upbeat note, this is the time of year where we get the lists of what are the hottest jobs for grads. ...a preliminary survey of this year's graduating seniors shows them following the opportunities created by the new economy, with 25 percent headed for jobs in financial services; 25 percent management consulting; 23 percent investment banking or corporate finance; 19 percent other types of consulting and 8 percent in government or the nonprofit sector.
