Random Airport Thoughts
Man, Toddo, I haven't taken a beating like that since I put a banana down my pants and turned the monkey loose!
Good morning and welcome back to the field of play. I'm currently sitting (gingerly) in the San Diego Airport and, as I've got a half hour window, I wanted to fire off some quick missives to my fellow Minyans.
- The better team won last night and the Bucs deserve every snap they receive.
- The dollar is spiking as buy stops were "taken out" this morning on fresh rumors of a Saddam exile.
- If my sources are correct, many of the Raiders checked in for curfew--and snuck back out (of the hotel) to party all night. That's bush league and, if true, they deserved every smack they got.
- S&P 865 (former support) now becomes resistance on the upside.
- As luck (fate) would have it, me and my black #32 jersey sat smack dab in the middle of the Tampa Bay cheering section. You know what? They have fantastic fans...first class all the way around.
- Watch that SOX 280 head and shoulder neckline!
- Charles Woodson has been a liability throughout the playoffs--and Gruden knew it.
- Saw aggressive customer buying of QQQ and SPY on the opening bell.
- MSFT trades 50.
- I still think Warren Sapp is a shmuck--and the racist remark he made to my friend supports that thought.
- The Euro Stoxx is trading at it's lowest level in six years.
- We all know that Dubya is gonna talk tough. How much of that is priced into these levels?
- Can you believe that S&P 775 is starting to pop up into the trading radar? Imagine if it got there with the VIX hitting 50. Deja vu!
I'm not going to say that last night's loss didn't hurt--it stung bad. However, as we've learned, there are worse things in life and perspective is important. (I keep telling myself this as the Buc jerseys prance by)
- KLAC and AMAT turn green...right as the SOX is tickling 280.
- Watch the breadth...the internals hold the key.
- Trade to win...never trade not to lose. If you can do that while remembering that the ability not to trade is sometimes as important as one's trading ability, you'll surely improve your results.
I've got to hop and catch my flight and, with the time difference, I won't be landing until after the market closes. I'll be back in my saddle tomorrow morning and I'm looking forward to getting some mojo going. Keep that right hand up, think positive and hit 'em hard.
Good luck today.
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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