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An Executive Decision

By

Do you really think that we'd let a few bad aaples spoil the whole bunch?

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There's been a fair amount of negative news today but, far and away, the most disappointing development of the morning is found on the cover of BusinessWeek. Could their timing be worse? Are they trying to ruin my weekend? Is the mayor of Tennessee a board member of AOL Time Warner? I mean why...WHY...would they put Rich Gannon, quarterback of my beloved Raiders, on the cover of BusinessWeek? Communists!

The morning futes have traded below initial support at S&P 910 and the next layer of support comes in at S&P 900 (and then S&P 875). On the upside, S&P 922 and S&P 930 (look at a chart of January!) are levels to watch. In four-letter land, NDX 1040 is support as it fills the gap and was previous resistance in December. Up north, NDX 1080 and 1100 are resistance levels.

A quick little ditty before we roll up our sleeves and get our hands dirty. We've received a fair amount of email from loyal Minyans who are unhappy with our policy regarding cutting & pasting. We originally made the decision (to block this feature) in response to the unfortunate few who were taking advantage of the system.

However, our readership is our lifeline and we pride ourselves on listening to what you have to say. As a result, we're going to remove this feature and put our faith in the readers. We're hoping that, if you find our site of value, you'll do your part in helping to spread the word and build our community.

Thanks a bunch...and kick some tail today.

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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