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Poppers and Droppers


Why can't we all just get along?


It's a state of affairs and a state of emotions
The kind of thing that you must understand
I tell you one thing; you tell me another
We walk away, maybe then shake hands

(Blues Traveler)

The early morning sprouts were met with a quick backhand and the games have officially begun. While I saw a fairly meaty seller of the S&P's out of the gate, there are constructive elements to the early action as well. I'm keying of MXIM as a SOX proxy (would that be a sproxy?) and it's bounced from the opening drub. The retailers and energy sectors are also firm (early) and that's a relatively constructive sign.

With that said, let's not forget the issues in play right now. For instance, a North Korean spokesman just called Dubya a "shameless charlatan" and the State of the Union an "declaration of aggression." In response to those kind comments, gold lifted, the DXY (dollar) weakened (marginally) and treasury's firmed --all of which could be "writing on the wall" for a sloppy equity tape.

Morning breadth is neither here nor there and doesn't offer us much direction at present. I'm sticking with my bear leg appendage for the time being--and it feels like today's gonna be a real battle.

Engine room, more steam!

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

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