Monday Morning Musings

The market is bouncing around the flat line in early trading. It opened a bit weak after one of the Fed governors gave a speech, but then rebounded some.

Oil is up by more than $1 this morning, which is helping the energy stocks. Bond yields are also ticking higher, with the 10-year yield at 4.66%. This is still below December's high yield of 4.71%.

I just read that Bill Miller of Legg Mason is so bullish for 2007 that he is borrowing money to buy more stocks for the first time since 2002. Could that be because he just had his worst year of relative performance in a long, long time?

Last week was an intersting one in that growth stocks significantly outperformed. It was obvious that money was flowing out of the commodity trade and into more traditional growth stocks. I think it will continue, but this process will take time.

In other news and notes:

• Do you have any idea how many times I watched The Wiggles this weekend?
• Go Buckeyes tonight!
• Google signs deal with Samsung for mobile products
• BRLC raises guidance; gaps higher
• CMX rejects bid by ESRX
• Asian markets fall overnight
• Big UBS upgrade of tech stocks
• UNH will reaffirm guidance at JPM conference
• CIBC bullish on WFR
• NCR announces plan to split company
• MOLX lowers Q2 guidance
• BofA bullish on CTSH, Indian BPOs
• GRMN downgraded at DA Davidson

long GOOG, O State