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Beauty and Beholders

By

I'm a seller of hope, in size, and I need a tick!

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So, so you think you can tell
Heaven from Hell? Blue skies from pain?
Can you tell a green field from a cold steel rail?
A smile from a veil? Do you think you can tell?


(Pink Floyd)

Greg R.N just walked over to me (humming Puff the Magic Dragon) and said "hey buddy what are we focusing on today?"...to which I replied "I'm watching YOU Fokker!" I mean, jeez, could he have worse timing? When the market opens, my left foot could be in a blender and I wouldn't notice. I'm looking for the Minxy smoke signals among the muck and I'm focused on the tape. Come on kid, this is the big leagues and it's a far cry from your cat milking days in Motown--step it up!

A few initial thoughts to start Hump Day in Minyanville. The internals are fugly out of the gate with losers smoking winners 3:1 across both sectors. My eyes are fluttering between that, the financials in general (and JPM in particular), the Semis (MU), Cisco (acts great), the consumers (rotation), storage (for signs of follow through), the retailers (hearing that they're a "crowded" short ahead of retail sales tomorrow) and,

Thus far, Boo's crew is holding court but it's uuber-early and we should stay on our paws. If the market opened higher today, I was planning on sneaking another leg into my metaphorical bear costume (to make 50%) but we didn't get that "fade" opportunity. That's kewl though...opportunities are made up easier than losses and I'm looking forward, not back. That's where the profits are, Scotto!

I've seen some macro selling out of the gate and, as we speak, some shooter just walked in and bought 25,000 QQQ March 25 puts. Typically, I'd think that flow is "contra" but there are other variables I'm factoring into my mix today (trin, 10-day p/c, sentiment, ect). Regardless, my short side schnitzel yesterday was "toe dipping" and, as such, I'll set an appendage "stop" at BKX 790. If we continue lower, I'll roll that stop down but, either way, it's nice to start the new year with a little jingle. Wasabi!

Meanwhile, I would be remiss if I didn't urge you to support your local Minyan and stop by Main Street at your convenience. We've got great apparel, some kick-ass art and delicious Brent & Sam's chocolate chip cookies over there. Plus, 10% of the proceeds at Harrison's will be donated to The Ruby Foundation for Children's Education and, hey, what could be better than a little karma in your camp?

I hope this finds you well, Mon Frere...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 todd@minyanville.com.

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.

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