Buzz and Banter
Come on Toddo...the short side isn't novel anymore! And you call yourself a contrarian!!!
A year has passed since I wrote my note
But I should have known this right from the start
Only hope can keep me together
Love can mend your life
But love can break your heart
The afternoon is slowly migrating along and I'm proud to announce that Fokker nailed the protein print (sorry Martin). I (almost) feel guilty for making him schvitz so hard but we take our sushi very seriously in Minyanville! Still, you should see the puddle of sweat under his desk right now--it looks like he just got out of the shower!
Speaking of moisture, the bears have got to be a tad concerned by the ability of the Minx to (thus far) shrug off bad news. The greenback is blue, retail sales were soft and there are all kinds of negative KLAC stories floating around. Still, the Minx seems intent on climbing the wall of worry and I'm seeing shorts toss in the towel left and right. While that's potentially self-fulfilling (to the upside) in the uber-near term, it takes a level of demand away from the market if (when) it comes for sale.
There's no denying that the tape acts dry and, as we tick tock toward towards Intel's earnings, it's decision making time in the city of critters. You almost get the sense that the tape has to break out before any meaningful downside can occur but, as a function of my view, I'm not playing it that way. With the stochastics "hooking" at the top (negative) and sentiment gauges indicating complacency, I'd rather pick spots and add to defined risk downside plays. Snoop Tone does a good job of illustrating this juncture, so if you haven't read his latest piece, click here!
Peter Ferriso just popped his mop top into my new digs to ask me when the Minyanville action figures were coming out and I told him that Casey is shipping me the prototypes today! I'll tell ya, the feedback we've received thus far from the readership has been astounding---and the bulk of the products, services, columnists and content hasn't even begun! If you're digging the site and proud to be a Minyan, please, sponsor a critter and help us spread the word!
Gotta scoot and talk to Pepe and the techies....be back.
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 firstname.lastname@example.org.
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