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.

The Battle Royal


We are young, heartache to heartache we stand
No promises, no demands
Love is a battlefield

(Pat Benatar)

The beige book hits the tape and basically reiterates what we've been hearing. U.S economic growth was slow entering the final quarter of the year because of flattening retail sales, stalled manufacturing and lackluster hiring. ain't easy being beige!

The early afternoon action had slowed to a crawl into the report and it's only picked up moderately since. Meanwhile, the battle of the tells continues as those squeezy semis continue to trade dry and the financials are still heavy...although our tell du jour Citigroup is starting to climb back. Overall, the two complexes reflect this disparity as the Nazz acts better than their old world cousins.

Without question, the recent rally is fresh in the heads of traders I speak with who are scared to death of getting caught short. Even the normally smug Boo is wiping his brow, but I told the young bear this morning that he was in for a fight and he is surely getting it. I have no crystal ball here, but I continue to sense that this is a short term topping process. Gotta hop into the back as the flu shots just got here. Terrific!

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