Moo La La!
Paranoia strikes deep in the heartland
But I think it's all overdone
Exaggerating this exaggerating that
They don't have no fun
Paranoid? Me? Why are you calling me paranoid? I'm half joking (and so am I) but I'll tell ya--staring at these flickering ticks all day makes you see things! I mean, I was on vacation and looked at a beautiful mountain range...and saw a head and shoulders! I looked at the pacific ocean...and saw a sea change! I was watching football...and I saw trendline resistance (or, in the case of the Jint's, deteriorating internals!). This in N-V-T-S nuts!
As we discussed in this morning's opening piece, Luke, today's an important day. We've already walked through the technical landscape so I'm not gonna be redundant (hate that!). You know what groups to watch, you know which levels matter and you understand the geopolitical backdrop. I mean, phew!....we can rest easy...we've got France in our corner! At least we'll eat well! (I'm kidding, Frenchie...please don't send that email!)
The research train stopped by Minyanville to let us know that Pru upgraded ALTR and XLNX, Merrill downgraded Hitachi and initiated Dell with a neutral, CS First Boston downgraded the furniture group (Fokker!), Deutche Bank cut numbers on the drillers and Lehman upgraded the European telcos. Meanwhile, the conference parade continues with ORCL, VRTS, CSCO (12:30), SUNW, AMZN and ERTS (et al) speaking at Morgan, CCU, YHOO, SSP KRI and VOD speaking at Solly. Lest we forget, Dubya takes center stage at 1:15 with his stimulus package and, as of now, there's no word on whether Monica will be attending.
Jamming and juggling at this early hour so lemme hop to focus on the opening. What do I think today? Well, I want to see how the internals act...but best early guess would be a "turnaround Tuesday scenario." They'll try and get 'em up in the morning (me thinks) but I wouldn't be shocked to see them close lower on the day. Of course, that's just one trader's (humble) opinion.
See you after the opening, cookie...play like a Raider 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.
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.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter