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.

A Slow Poke

By

N's over S's!

PrintPRINT


I set out running but I take my time
A friend of the devil is a friend of mine
If I get home before daylight
I just might get some sleep tonight


(Grateful Dead)


A frazzled and furry Boo kicked back at his home office, feet on the desk, and picked up the receiver. "Yeah, I see the weakness in the Citigroup (C:NYSE) out of the gate....again...but I'm not gonna get excited until I see some spillage into the peripheral financial issues." He paused for a moment before continuing "and Europe, which was higher all morning, has reversed to the downside. If only we can get to those semis--particularly in the face of Texas Instruments (TXN:NASD), the fur may begin to spur."

I hung up the phone and looked at Fokker. "Dude, Boo's in a mood again" I said to my wide-eyed assistant, "but how many times is he gonna yell fire in a crowded theater?" The answer, most likely, is until nobody listens anymore as the bear likes to inflict maximum frustration at every station. I'll give him the early snausage in the financials--we must monitor that--but I'll be looking for slippage in the breadth (currently flat), Intel (INTC:NASD) (semiconductor sentiment proxy) or the biotechs as a downside confirmation.

Away from the equity fray, gold is shining once more (up $6), the dollar is marginally lower (and oversold) and the Raiders came up one yard short--ONE YARD! No excuses in the Raider Nation, mind you, but that was a game they could have stolen. It looks like my bet with Berko (Jints/Oakland wins) is gonna go to the wire--the wrong wire!

I'll be back.
< Previous
  • 1
Next >
position in intc

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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE