Too Much?

<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I'm at that age that I don't dream that much anymore.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Maybe I still do, but if so, then I don't remember much.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium"><IMG style="BORDER-BOTTOM: 0px; BORDER-LEFT: 0px; MARGIN: 10px; FLOAT: left; BORDER-TOP: 0px; BORDER-RIGHT: 0px" border=0 alt="Ear hair" src="http://t1.gstatic.com/images?q=tbn:ANd9GcQs5rUcBto0sY7sN4DoXn2yx9-p0z-EM7p6u3l1I4ZEecB0GSiFt11n8r3I" width=275 height=183>As you do get older, I think that it's just a natural tendency to ascribe everything to the aging process. I recently covered the phenomenon of "ear hair", but there's really no shortage of changes, that one can only assume are age related.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">But last night I did have a dream, a very vivid one at that. With the exception of the dog slobber, though, the bedding remained dry.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium"></SPAN>&nbsp;</P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Interestingly, the dream was about Bed, Bath and Beyond.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium"></SPAN>&nbsp;</P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium"></SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Okay, maybe not so interesting.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I've never even been a shareholder, although admittedly, I do enjoy trying to maneuver a shopping cart through its narrow and maze like aisles, while following my wife as she hunts for "tchotchkes".</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Amazing how that word is making the auto-spell go berserk. I tyhink the CPU is starting to smoke, as well.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Anyway, the essence of the dream is that I was, indeed, a shareholder and extraordiarily disappointing quarterely earnings were released, resulting in a stampede to sell.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">My reaction while in slumberland?</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">"Bed, Bath and Beyond?. I don't think so. More like Bloodbath and Beyond".</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">And that was it.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">The whole dream turned out to be nothing more than a soundbite or a pun that no one, including me, would appreciate. The greatest likelihood is that it's not even original.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">And besides, what kind of normal person dreams about earnings reports for a stock that he's never owned?</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Too much?</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Too much!</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I suppose I coujld be doing things that advance society wity all of my spare time, rather than sitting, sipping coffee, watching CNBC and looking for trading opportunities.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Yeah, and then this blog and those damn addicting Tweets.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">But then I hear things like Boone Pickens saying "An economist is just a CPA without a personality". Well, it's those little throwaway snippets that make it all worthwhile, never mind that my youngest son just declared Economics as his major and my nephew is graduating next month as an Economics major.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">No offense taken.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Of course, then my mind was equally entertained when a photo of Ron Pauil was shown, announcing that he was the on-deck CNBC guest and in the background they were playing the refrain "Tramps like us..." from Springsteen's "Born to Run".</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I don't quite get the connection, but it gives me something to think about.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">And then, did I hear it wrong, or did Art Cashin call Geithner a liar when he referred to his recent&nbsp;defense of the dollar as a "Pinocchio comment".</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Whoa, let's see Geithner's birth certificate. Althoiugh given his less than dynamic personality, I think they may even have difficulty in dredging up a Certificate of Live Birth.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Meanwhile,&nbsp;the first real thing I did this morning, this second week of earnings season, was to check when BBBY was scheduled to report earnings.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">They're still 2 months away from their next report. So then I looked at their 1 year price chart and that was followed by the May 2011 options tables.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">That's a bad sign when I start letting dreams direct my investing activities.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Luckily, it's still an hour away from the opening bell</SPAN> <SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">and there's plenty of time for rational thought to take hold and prevent me from doing something irrational.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Besides, if you've bought the OTP&nbsp;book, you know that I keep a list of about 50 "Old Reliables", stocks that I trade in and out of as appropriate. I rarely vary from that list. </SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">BBBY isn't on the list.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Not quite the same entrance criteria as used to be used at Studio 54, but at least I'm still standing and I'm very grateful that Puff Daddy didn't turn state's evidence on me.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I'm afraid that today's market actions will be muted and not because of the uncertainty of my dreams.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I think that absent any great earth shaking news, literally and figuratively, the world is waiting to see what Bernanke will say at the much heralded press conference.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I'm betting that he'll admit to a series of unsolved murders in the Southwest.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Maybe he'll announce that he's a finalist on "The Voice".</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Sure, I know, some of you are probably replacing "The Voice" with "The Biggest Loser", but I'm not in that category. Besides, I've seen the Chairman's birth certificate.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I happen to use my own Bernanke indicator.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I look at the thickness of his "Talis Bag".</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">For some of my readers, you may as well Google that, along with "Tschotchkes".</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">I used to use the velocity of the graying of his beard to assess our economic status, but these days there's no longer any velocity.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">As always, the talking heads are taking all sides on the reasons for this unprecedented press conference, as well as the outcomes on the day's trading.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">My guess is that somehow he will affirm the seriousness of S&amp;P's warning last week, while balancing that with statements pointing to an improving economic picture.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">He'll mention the balancing of increased revenues with spending cuts as being first steps toward a resolution of the debt crisis.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Or he may just talk about the NFL lockout.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Watching Ron Paul, I'm certain that Bernanke won't admit that he's finally converted to Paul's gold position and the currency. and the role of the Federal Reserve.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Not that I'm a conspiracy theorist, but it was interesting that Ron Paul's satellite feed seemed to go out just as soon as he started his rant.</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">Besides, Ron Paul's Talis Bag is might thin. </SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium">So who are you going to trust?</SPAN></P>
<P><SPAN style="FONT-FAMILY: arial,helvetica,sans-serif; FONT-SIZE: medium"></SPAN>&nbsp;</P>