Let's go Chambo!
Does she walk? Does she talk?
Does she come complete?
My trading room angel
Always pulls me from my seat
(J. Geils Band)
Hey, here's an idea Greg R.N, why don't YOU trade, YOU write and YOU talk to investors while I roll up my sleeves and set up the fax machine? I know--you keep getting distracted...the phone won't stop ringing...the sun was in your eyes...the dog ate your homework...I've heard 'em all before! Yeah, yeah,yeah...I'm being tough on the kid but hey, it's tough love. You can stop sending in resumes (for now)...I'm gonna give him a shot. And yes, Martin, that includes you!
The ebb and flow continues as traders jockey for position and I've drawn up a ledger as weigh the crosscurrents. On the plus side, Cisco, Orcl, Microsoft and Intel are all higher and when the four horsemen ride together, it's usually a good tell. Also, one could say that they "can't get 'em down" and, if this keeps up, the performance anxiety will start to kick in. Toss in the two positive pre's last night, lower crude and a green SOX and, well, voila! Over to the left (negative) side, we've got Europe, the financials (although clawing back), the internals, Dubya and a low VIX (complacency).
I'm gonna be uuber-tight with the bear leg and, depending on what we hear, I'll act accordingly. I'm admittedly wary of a potential turn in the financials but, again, one step at a time. I'm hearing Chambo (CSCO) is speaking now and it's "same 'ol, same 'ol" (so far).
Bill and Anthony just got here and, if I know anything, it's that I don't want to keep these guys waiting for lunch!
I'll be bah-hak.
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 email@example.com.
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