Good morning and welcome back to the storming. As darkness descends on Gotham during an unseasonably chilly squall, all eyes turn to the tape to see if it follows suit. The clouds are threatening but that’s nothing new for the 2008 market. It remains to be seen whether Hoofy can once again find a silver-lined seam.

Following a Friday morning funeral and Friday night Florida wedding, I return to the hallowed halls just in time to launch the debut of Minyanville’s Buzz & Banter Television, which will air daily on Fox Business network at 11:30 AM and between 3:00 and 4:00 PM EST.

The Truman Show? Perhaps, but our goal is to extend the sense and sensibility of our community while providing the insight, intelligence and snark that has become synonymous with Minyanville’s good name. If we do this with the honesty and integrity and has come do define our approach, we’ll be as sound as a pound!

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• Quite obviously, S&P 1405 and INDU 12,800 (former support) are newfound resistance. S&P 1385, from what was gathered from afar, was a level where buyers emerged into the Friday muck.
  
  
• I’ve long believed that higher crude is a drag while precipitously lower crude would be entirely more problematic through the lens of “asset class deflation vs. dollar devaluation.” What remains to be seen is whether (hyper-) inflation finds friendly perception in “disinflation” and, dare I say, “Goldilocks” before the Phantom of Deflation arrives.
  
  
• My positions, after peeling off my Merrill Lynch (MER) puts while on the Jersey Turnpike Friday morning, are consistent with what we’ve recently discussed, albeit smaller (I hate blind risk). Long the papers, short some drillers and alotta dry powder to hit it and quit it.
  
  
• Snaps to Television’s JeffMacke on his consistent Disney (DIS) vibe, which was again echoed by Barron’s over the weekend.
  
  
• The two biggest stories on the weekend radar? FedEx (FDX) (today’s reaction to the news is more important than news itself) and the geopolitical unrest in Lebanon. The price action in crude is forward-looking and we’ve openly wondered if Iran was the root cause. Keep an eye on that region, please, while sending white light to one and all.
  
  
• This face for radio has to hop. Happy Birthday Belle and have a great week Minyans!

R.P.