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Funny Money


No laughing!


"But, I'm funny how? Funny like a clown? I amuse you? I make you laugh? I'm here to friggin' amuse you?"

--Tommy DeVito, Goodfellas

The giggles continue as we edge through the wiggle and there's a whole heckuva lot to digest. I've often wondered if A.D.D types are attracted to trading or if our business actually lends itself to scattered attention. I would tell you my thoughts on this subject but naturally, I've already forgotten the topic. Either way, it's time to muck dive anew.

A handful of themes jumped out during the opening flurry. Novellus (NVLS:NASD) has colored the crimson chips with last night's less than thrilling earnings report. While some analysts are chattering that the news is company specific, the spillover has thus far dripped to its capital equipment brethren. That's leading to a slippy SOX (down a dime) and giving pause to the upside cause.

On the other side of the speculative fence, momentum darling Taser Inc. (TASR:NASD) is Marty McFlyin' back to the bubble with yet another moon shot. I don't have a view on the name, per say, but it's become the poster child of all that's wild. It's moves like this that raise the hair on the back of my neck and offsets what has been, by all accounts, constructive action. Vuja de? You betcha, but those de's can last longer than one might expect.

In the old school, the brokers are a tad pink but it's nothing to write home about yet. Retail, for all you shoppers, is relatively firm and the green group stands out on my left screen. Finally, I'm keepin' close tabs on the cyclicals (CYC) for reaction to this morning's earning's barrage.

Taking a step out of the trees, the dollar is givin' back yesterday's gains (DXY down almost 1%), gold just jumped $4, crude is higher ahead of the storm (and the oil service acne has spread), Europe is sticky green and volatility is starting to perk up. S&P 1150-1160 is the band you should be listening to (support/resistance) and please, whatever you do, save your emotion for weddings and funerals.

What do I think? I'm watching the financials for guidance and assimilating all of the disparate pieces of the puzzle. The giddy city is pretty pervasive--everywhere you look, read, listen and watch--and while that gumption can grow, the one sided nature of belief is ripe for a roast. There hasn't been any motivation on the sell side, mind you, but past traction is no guarantee of future action.

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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