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A Morning Sniff


Remember the Titans!


The aroma of fresh coffee fills the air as the world of flickering ticks fills my screens...and Superbowl week in Minyanville has officially begun. Monday's after expiration are usually characterized by market players manicuring their risk profiles and the early morning action seems to be holding to form. As the tape settles down and traders settle in, a truer tenor should begin to emerge.

Energy names jump out (on the heels of the Venezuelan chatter) as both the XOI (oil index) and OSX (oil service) are down over 2% out of the gate. The banks, which sprouted green initially, have begun to slip marginally (watch Citigroup) while the semi's are flat (not thrilling on the heels of an upgrade). Watch the S&P 900 level as it's the zone that held Friday and, if the bears can push 'em through, S&P 875 seems like the next technical magnet.

There were several buyers in the futures market on the opening but, as it stands, they were met with ample supply. I'm closely watching our tells to see how many ducks are lining up. In other words, when the banks, brokers and semis are pointing in the same direction and the breadth confirms, the writing is usually on the proverbial wall.

I'll be back.

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.

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