Todd Harrison: The ECB Loads the Bazooka

By Todd Harrison  MAY 08, 2014 9:55 AM

The stock market edges toward resolution.

 


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European Central Bank President Mario "I must break you" Draghi signaled possible action using "unconventional measures" next month, offering that the "high exchange rate is a key downside risk for the eurozone economy and we could act as soon as June if needed."

We had Janet Yellen jawbone yesterday and Mr. Draghi jawbone today, and the reaction to news will be more important than the "news" itself. If the tape ignores the vernacular, the collective wisdom will be left to wonder how many bullets are left in the central bank's arsenal.

As there's a lot going on this morning, let's dive into some Random Thoughts in no particular order:



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Never a dull moment in the world's wildest reality show. Good luck today, and remember that profitability begins within.

R.P.

Twitter: @todd_harrison

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Position in TWTR, SPY.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

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