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The Hump Day Cometh

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There are certain days that are watershed events, when the entire tenor of the equity market is changed and a new direction is proclaimed. Today wasn't that day. In fact, a pullback after the recent stampede from Matador City was likely the "easier" move and makes our jobs a bit tougher. Now, as the bulls and bears both go home feelin' alright, we ready ourselves for the biggest day of the week....SushiWednesday!

When I was a bright eyed and bushy tailed assistant trader at Morgan Stanley, one of the first things I was taught was to get into the head of the person on the other side of my trade. The goal was to understand why somebody was shorting me a particular stock, what their thought process was and, if possible, what kind of size they had "behind." Obviously, this is easier said than done, but it began a process that has helped me to this day: Always look at every side of your trade before committing capital.

In many ways, that is the goal of Minyanville. Each critter has a different perspective at any given time and that view is typically representative of somebody in the marketplace. I understand that this 'style' of financial information is new and different, but our hope is that it enables the good readers of this site to make better, more informed decisions.

Turning our attention back to the tape, the after hour earnings calls seem to reinforce the notion that the "recovery" is taking longer than expected. I understand that stocks are a leading indicator and will turn before the economy but, despite the handful of "clean" reports from the "haves", the common thread continues to be lack of visibility in corporate America. Just another ingredient to mix into our trading recipe!

I'm still not feeling 100% (far from it) so I'm going to call it a night and try to rest up for dentistfest. As a function of our earlier discussion, I'm bringing Boo home with me as I want him to get a good night's rest. He's had a tough couple of weeks and while I know he won't get much sympathy from our readership, I've always had a soft spot in my heart for the little fella.

We power down to close the chapter on another session, but we still have the night to relax, enjoy and be. Don't fetter away our free time with angst and stress. Let it roll off your shoulders, put a smile on your face, and go have some fun. It could be a lot worse.

Have a peaceful night.
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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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