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The Band Stand

By

We were so close!

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Up on Cripple Creek she sends me
If I spring a leak she mends me
I don't have to speak, she defends me
A drunkard's dream if I ever did see one

(The Band)

It's Freaky Friday, sports fans, and you know what that means--our requisite two day respite is right around the corner! In seven short hours, we're gonna turn off the ticks and turn on our lovelight. Friends, family and football...what's better than that? Before we power down, however, we've got a handful of critters that need some handholding. One more day of focus, Minyans---and then it's all you!

Beeks stopped by and announced the orange crop report and, well...it left a lot to be desired. There's been chatter on the trading wires lately that the number was going to be overtly bullish and, as such, traders may have "fronted" the report a little. As we discussed this morning, the knee jerk move is intuitive--now the games begin!

While economic data is surely important, it's only one ingredient in a messy minxy mix. Factor it into your process but also know that it's not omnipotent. Other data points this morning include Dell's self-defense, SGP's flu, a retail upgrade by the mighty Bear, the greenback (it's blue) and North Korea taking their ball and going home.

The semiconductors in general (MU and TXN in particular) trading very sloppy into yesterday's late jig and I wouldn't be shocked to see them trade lower today. If a stock can't lift during a massive rally, you can be sure that there will be supply around when (if) the tape turns.

I currently have one leg in my metaphorical bear costume (25% conviction on the short side) and I want to watch the opening. I did the Texas two step yesterday, Cowboy, and jumped in and out of an appendage. I'm not bummed about taking that leg out on the close--it was the disciplined thing to do in front of a big unknown. Over the course of time, that type of consistency will save (make) a lot of money.

I've got my 9:00 strategy meeting with the boyz down the hall so lemme hop (literally) into Schott's office. It's a long day and I implore you to take a deep breath and think positive. Emotional decisions have a way of coming back to haunt you so, please, keep your emotions focused on football. We have all weekend to root.

See you after the opening.

No positions in stocks mentioned.

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.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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