There just are no new highs to speak of. Was looking at the rapid decline in REITS and in hindsight it looks easy. It is not.

I have some buys tomorrow if we collapse. You should have a list to.

Your daily lullaby is brought to you from Scoble and Pageflakes . He only went 26 minutes here with this Pageflakes company that cures dandruff if you use it as an internet startpage. Do not watch this while driving. Scoble says he is already suing me and I don’t need the extra aggravation. BTW, Scoble is not my type of people so I have banned him. Yes, he is a Lindzon fan , but I never liked him. I gave his book to charity for the deduction.

I recommend all stock bloggers ban somebody from their blog tomorrow. It will be a show of stock blogger solidarity and linkbaiting. Please submit your banning in my comments or on your blog. Let the linkbaiting BEGIN.

TIP – Make sure it is someone with more traffic than you.

Don’t worry – Google paper will be crap as well – just not yet.

It is the same f@#cking game played over and over by Wall Street. IT IS CALLED DISTRIBUTION. It takes time. When Wall Street gets hold of a beauty like Google, they take their sweet time distributing it one share at a time to every last believer in the story. See – Intel, Microsoft, Dell and Yahoo. Could take 15 years or three. The Google stock distribution game has just begun.

It is the normal complaints I am hearing again – stock is too high, market cap is ridiculous, shares are too expensive, too many acquisitions, I should have bought at $162, should have bought on the pullback to $320…

In the meantime, everyone owns Yahoo and Microsoft – stock is too low, market cap and PE are reasonable, it’s cheap relative to Google, I can always double down cheaper because it’s already so low. OY!

That poor sap at the end of the Wallstrip Google video thinks he is actually smart for owning Yahoo as a proxy for Google. He is waiting for Yahoo to “follow Google’s tracks” . That happiness is called “COMFORT”. It just feels right because the idiot next to you owns it.

Yahoo and Microsoft are in a hole and digging themselves deeper. James Cramer is doing a daily show about who Yahoo should buy. That is absurd. There are no public companies they should have bought save YouTube. But Cramer is crazy “like a fox” and a rating’s hound so it makes for good CNBC fodder.

YouTube was a smart and cheap acquisition. The YouTube haters were wrong. I wrote a lot on the subject predicting a buyout – most recently here . They paid $1.6 billion in stock but have gained $20 odd billion in market cap since the announcement. At the very least it was smart to keep it out of enemy hands.

Whether they integrate properly remains to be seen, but the market has spoken for now. Google just announced great numbers and the stock would have to drop 15 percent to get to pre YouTube market valuation.

The “man on the street” says it’s a joke. “The man” will have changed his/her mind before the Google phenomenon is over.

All that said, I do not own the stock. If it takes out it’s all-time high – it is close – I would own it based on my strategy. I have owned it before and been stopped out of the trend in the summer swoon.

People call those that have bought and held this stock – absurd. I guess it’s normal that Cramer has had about 100 buy and sells of GOOGLE in the past 12 months. His latest is a buy – I think – with a $560 price target.

I think price targets are a sham and are the one true remaining sign of absurdity from the last bubble. They should be banned, BUT that’s another show! We are working on the footage.

PS – Congrats to my friend and contributor Briann Shannon for his positive mention in Barron’s.

PSS – My condolences to Steve Ballmer for looking like a complete putz. What a shitty job to have (other than the pay and perks :) )

But, I have a gut feeling that things could get exciting in the next 12 months.

Real Networks partnership with Sandisk with the release of the Sansa MP3player may be the first small threat.
Michael Parekh has a great post with all the links and details.

I love the SanDisk brand and products, but have ALWAYS been burned in component plays. Real Networks is a different story. Nobody is considering them, they get NO respect.

Here is the lifetime story of the STOCK of Real networks (RNWK) courtesy of my favorite new toy – Yahoo charts.

The stock is nowhere near an all-time high. It will never get there. If it keeps making small waves, it SHOULD get bought. I own the stock because if you knock out the “bubble years” the stock is really making significant highs (2001). I have posted on my ownership for a while. I want to be here just in case. I will be adding a little more next week.

Disclosure – Long Real Networks and Apple.

PS – Good post from Charlie about Music and Social networks and why Apple should buy last.fm. I hope Apple is reading and thinking this stuff through.

It’s the Jewish New year so I can start with some Cream Cheese.

I like Video, I have talked endlessly about it. I like buying strength and have talked endlessly about that. Today both those themes worked beautifully.

Apple, Adobe, Akamai and Webx were all up 3-8 percent – just today.

Obviously that won’t continue forever and these are risky stocks, it is just that I like the market here and owning the strongest stocks coming out of a summer of weakness has paid quick, fast, large dividends.

I was bludgeoned this morning in OIL – but BTU and the oil index closed on the highs so they look washed out. I will be adding tomorrow and some more gold calls and I will be stopping out below today’s lows.

Here is some great Adobe linkage and insight courtesy of tech nerd Om Malik and somebody new to me Tom Keating . I may need to get an Adobe tattoo to go with the inevitable Apple tattoo – assuming my reformed jewish cemetary would still have me :) .

UPDATE – more data on my oil trade from DeGraaf. More clues that I use in a countertrend trade.

Gold – goodbye – broken – Was stopped out of most of my positions the last 7 days.
Oil – sayonara – stopped out this summer and SHOULD HAVE GONE SHORT.
Tech – sexy again? Been shopping a little
Inflation – market says no – my wallet says YES
Rates – no idea
New Highs – my bread and butter – slim pickins’

I have done very little the last 4-5 months except trade some gold, and buy some aapl, ebay, more akamai, defense, drugs, pawn shops etc..There are very few working themes left. GPS is now very mixed and Akamai stands alone atop the tech heap.

With respect to Akamai – some genius at Pacific Growth Equities initiates Akamai with a buy today . I love Akamai. I have owned it since 12. I see no reason to sell it. But what is this guy being paid for. Did he just hear of YouTube and iTunes?

I digress and apologize – Where are we today?

Here is where my trusted source Degraaf from Lehman thinks we stand today. Basically – he has no opinion worth pounding the table. I really dont get excited about much that DeGraaf says until he pounds the table. he has been quiet for months. MOST IMPORTANT – is his caution and picture of commodities. The adobe file is right below:

market today.pdf

What other insights do I have?

This market is just plain tough. If I were a gambling man I would be short, but the break in oil and gold leads me to believe that Mr. market has some tricks up his sleeve. I will keep doing less until trends reemerge and I see NOTHING to get me excited these days -except WALLSTRIP :) . By the way – please sign up at the site for email updates of the show.

To conclude – why do anything if the charts look like those below – full of broken trends (charts courtesy of TraderTim - who is really smiling these days ). Click on the charts for enlargements.

Here is the oil Index – hilarious inclusion of the Brady Bunch looking up at the trendlines. Also note that today with the OIH closing at 125, Mr. Brady just swallowed the whole freaking index :)

Next is the Trannies – which I said a while back were broken (see my first video). With oil down 12 plus dollars from the high, their inability to rally makes me think they really may be toast for now.

I repeat – nothing except selected tech excites me here.

If you must need to trade – can’t help you and if you want to short – go with the hot hand – Mr. Negative himself TraderTim.

Good posts both here and here with all the fancy charts :(

Can’t wait for the Apple meeting tomorrow. Everything could change!

PS – Jordan Glasner – you happy now :)

I have added a few new cool blogs to my blogroll. John Mahoney – founder of Instant Information pens a tech blog with a lot of smart insight and he loves Apple as well which never hurts. I met him this week and his new Company is way ahead of the curve in organizing financial information.

On Widgets and badges – a favorite area of mine – I Added Tim Post whose blog Flying Seeds is new, but deep.

Eddy has a great post on breaking down the argument – this company can’t get any bigger .

New Highs are coming from some different, mundane sections – Mcdonalds, Walgreen’s and Smith and Wesson ( one that I own – and blogged about buying back in June at $7 ).

I love old Smith and Wesson and have sold a little but holding until the trend breaks. I love McDonald’s but am buying some Chipotle’s instead this week. I hate that I don’t own Walgreen’s. They are the best at selling me my drugs!

In the I need to puke department, Ford STEALS (LOL) Boeing’s CEO and Internet gaming execs are the FBI’s new Biiitches. I would love to rant, but Bill Cara does it perfectly here:

Boeing had paid Alan Mulally a base salary of $825,000 plus $736,000 bonus. Moving over to captain a sinking ship does have its rewards though as Ford Motor Co has agreed to pay him $2 million base annual salary plus 4 million stock options and 600,000 restricted stock units plus $7.5 million signing bonus plus $11 million to replace the Boeing future compensation package he walked away from. I wonder how many points his agent got.

So Washington doesn’t want you to bet on sports (they had another internet gaming executive arrested this week); they’d rather you gamble on Ford and GM shares in an equity market they tell you is transparent and fair, and not controlled by Washington and Humungous Bank & Broker. Not!

As always – right on Bill.

Michael Parekh applies the capitulation and doom and gloom headline contrarian call to the Middle East . I have been hanging with some smart Israeli entrepreneurs who unfortunately share the same gloom. The trader in me says any major stock market weakness this fall will be focused on this conflict AND housing BUT will be a great buy!

Finally, I have added the TomCar (pictured at the top of the post) to my new favorite products. Although already a small phenomenon, I expect the TomCar to EXPLODE in popularity here in the United States (at least the Southwest). I spent a little time driving one this week and we did our best to destroy one :) (sorry Ram). The car was developed in the Israel, by the father of a friend of mine (Ram) – over 15 years ago. They have set up small manufacturing and a headquarters here in Phoenix – lucky me. It is fund investment we are considering. If you have the opportunity to drive one – take it.

The companies hitting new highs (rise and shine) – in any market – have the following three things going for them: happy management, happy employees (as happy as employees can be that own stock?) and happy shareholders. Everybody involved is happy to rise and shine.

I am reading the latest Intel job slash news, and although management may be deemed admirable for their ruthless cutting and focus on the bottom line , what a bummer and a drag for all involved, management, shareholders and employees.

Is that a stock for the average investor new to the market. It’s rhetorical people – NO.

Now, maybe these cuts are the last and maybe the new Flash 865 plutonimum double barrel microzinc copper processor will turn this beast around. BUT – you don’t need to be the one to call the bottom. You never need to be the one. Even if you are managing billions.

The market is tough right now and there is a lack of sexy, high growth leadership. Housing was consumer related and the nasdaq was corporate related.

Both those groups are tapped. Keep monitoring the new high list as strength shows. Take the rise and shine approach.

PS – The new Bloomberg site and design is even more atrocious than the old one. What a gagger!