Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Echo Chamber


Fare ye well!


And it's whispered that soon if we all call the tune
Then the piper will lead us to reason.
And a new day will dawn for those who stand long
And the forests will echo with laughter

(Led Zeppelin)

The afternoon session fritters along and the critters have slowly begun to sneak out the back door. With Monday's quasi-holiday looming, a lot of traders will likely party with Nina, Pinta and Santa Maria and rest up for the freakfest that is earning's week. The bond guys are psyched--they're all off like a prom dress--but no such luck for the equity folks. Will somebody please call the cruise director and point our ships in the same direction?

The lethargic action has been pretty nondescript all day but, as yesterday reminded us, we've gotta stay on our toes at all times. There are clearly mixed signals nestled in the muck. The Nazz breadth has been stanky all day but Intel (INTC:NASD) trades quite dry. The S&P trades relatively heavy but key stocks, such as Bank of America (BAC:NYSE) act just fine, thank you. General Electric (GE:NYSE) is hugely important--but if the market doesn't blink or sink, is that the tell that we've got more work to do on the upside? It's somewhat reminiscent of IBM (IBM:NYSE) when big blue tanked on cooked book worries and the Minx shrugged and hugged higher.

I'm not gonna lie to you--I've been walking through my charts today and there's plenty of reason for Boo to schvitz. If the S's can punch through 1050 or the Nazz can garner jig through 1400 (with vim and vigor), we could very well see the ultimate give up by the ursine uglies. If the former comes to fruition, the Burned Razor may be put on ice but, as always, let's take it one step at a time. We've got a whole heckuva lot of catalysts lined up and we'll get script previews rather soon.

There's not too much new to report so rather than blather, I'm gonna flip lids and finish up my week. I'm toying with the idea of a Fenway cameo tomorrow but, truth be told, I was looking forward to a weekend of kicking back and relaxing. Does that make me a bad fan, Tags? I don't know--it should be a classic match-up. The Yanks hit Pedro and the Sox can hit Clemens so it's shaping up to be a hum-dinger. Either way, I'll be watching and I'm sure most of you will too. Enjoy the requisite respite, my friends, it's why we work and what it's all about. In 65 or so hours, we'll be right back in the saddle--so appreciate the down time and make it count.

Have a peaceful weekend.

position in qqq, bac

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos