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Cool Hand Luke

By

Sock Statue??!?

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Lately I've been running on faith
What else can a poor boy do?
But my world will be right
When love comes over you



(Eric Clapton)

The Minx is biding her time and you get the sense that, sooner or later, Snappers gonna give the upside a run for his money. Will the trippy tortoise be able to turn the tape? I've been weighing that question all day and, as it stands, my inclination is to fade rallies. When my stochastics stop flashing OR I see some fear that's not related to missing the upside, I'll rethink my posture. Until then, I'm furry and worried.

That, of course, isn't to say I'm going to make blind bets. While we've failed (again) at break out city, a couple of good reports from corporate America will cause the tape to spike, Lee. It's important to always allow for a margin of error when crafting a thesis and I'm quite conscious of the gorillas in our midst. With IBM, GE, MSFT all getting set to take the podium, the fireworks have only just begun!

The breadth has improved marginally and stocks are attempting to find a level. I've seen some decent buyers lurking around S&P 915 and that level, coupled with former support (S&P 922) is the zone I'm focusing on. All the while, my eyes continue to migrate between BAC, MSFT, INTC, FNM, the dollar and this statue of Daisy. Sock Statue!!!

It just continues to continue, my friends...and to think, we're only half way through this week. Quick little trivia question for ya: How many countries currently have registered Minyans? One guess per person, cookie, and the winner gets their choice of a free Tee! Send your responses into survey@minyanville.com.

Good luck!

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.

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