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Where's the Love?


I thought Heads& Shoulders were supposed to mean NO more tears?


Wars going on across the seas
Street soldiers killing the elderly
Whatever happened to unity?
It's like tht, and that's the way it is

(Run DMC)

It's Freaky Friday, boys and girls, and you know what that means--our requisite two-day respite is within spittin' distance. Before we saddle up and turn our attention to the important stuff, however, we've got seven more hours of flickering ticks and we'll need to stay particularly sharp. There's a lot going on, all over the world, and it's up to us to decipher the noise from the actionable catalysts. Let's take a look.

The New York Times reports this morning that U.S spy satellites over North Korea have detected what appear to be trucks moving the country's stockpile of nuclear fuel rods out of storage. This is prompting speculation within the government (and on trading desks) that North Korea is preparing to produce nukes--which, if you're wondering, would not be good for the stock market (or anything else for that matter).

These types of geopolitical concerns--Iraq, Latin America, North Korea--have the potential to supercede the historical guides that we use to trade stocks and we need to factor that into our mix. With the global landscape so fragile and jittery, we can still play--we just have to be extra tight with our risk parameters. These are trying times, my friends and, as such, we need to try a little harder.

AMAT just painted the tape with a preannouncement and that's turned the pre-morning futes to the south side. This is exactly what the SOX didn't need--it already confirmed the head and shoulder break yesterday...not it's got this hump to deal with! Technically speaking, there's no discernable support until the October lows in the S&P, SOX, BKX and NDX. Yes we're oversold (bungee) and sure, the stochastics are pretzel twisting, but that only means that WHEN we bounce, it should be vicious--these tools offer no insight as to when.

I'll be keying off of the same tells as yesterday and I'm factoring in the Friday effect (will traders want to carry exposure over the weekend?). There's a couple of big numbers at 9:50 and 10:00 so keep half an eye on the newswires as we trudge our way through this muck. Deep breaths, cookie, and think positive.

See you after the opening.

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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