Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Bloody Mary!


what's that Moo I hear coming from the back room?


Ah, the wonders of modern technology! I'll tell ya, it's a good thing that I didn't have wireless internet access in the spring of 2000...I'd of gotten hoodwinked! Chalk one up for Pepe and the techies as I'm sitting in the airport terminal (with a handful of noisy critters!) and I can post to the site before my journey to the hole! Hey Boo, take it easy on those're in public!

According to my trusty ILX, not much has changed since I left with the expectation of a pick-up in volume. The S&P is still flirting with the 900 support level, the SOX is doing the same at 300, the banks (not the brokers) continue to give pause to the bears, breadth is 3:1 negative and Microsoft and IBM both weigh on the tape. Yawn!

We know from experience that expirations typically focus their movement around the bells and our first expiry of the new year is no exception. I'm getting all kinds of weird looks from the other passengers as I'm sitting here naked (sans bull or bear costume) but, all in all, I'm comfortable with my decision. I agree with Tony that S&P 875 is likely (coincides with the SOX neckline, by the way) but,for purposes of identifying trades with an advantageous risk/reward, this last move was a better bet. Now it get's harder.

Next week will feature housing starts, a retail conference (Merrill) and the semiconductor book-to-bill on Tuesday, a SUNW and CCU meeting on Wednesday and the E.C.B, jobless claims and leading indicators on Thursday. Hopefully, it will also feature a preview of the Raiders in the Superbowl, by we've got a tough game to get through first.

I'm gonna go round up the troops. Hoofy and Daisy have quietly slipped away and I utter to think what they're up to! Keep your wits about you as you approach the closing bell...the decisions you make in the next hour will dictate the risk profile you sleep with for the next three days. Choose wisely and remember--opportunities are made up easier than losses.


< Previous
  • 1
Next >
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

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.

Featured Videos