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Engine Room, More Steam!

By

You got it, Mister!

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A couple of uber-quick thoughts as we head into the fray:

  • The S&P will effectively fill the gap (from October 3rd) at S&P 1020.

  • The NDX has an obvious gap from NDX 1360-1340.

  • The perception of a "better" Microsoft (MSFT:NASD) may buoy the tape today.

  • Most all of my trading coverage is telling me to buy the dip.

  • The sector bell curve remains more stacked than Daisy (overbought).

  • Europe is starting to edge back (still lower).

  • Gold and the dollar, thus far, are acting "equity friendly."

  • Nobody--and I mean nobody--I spoke to yesterday thought KLA-Tencor (KLAC:NASD) would miss.

  • The first rally higher is likely a fade--but watch the breadth!

  • This is the 25th straight week that the Investor's Intelligence bull/bear survey indicated more than 50% bulls. That hasn't happened since 1963. Amazing, considering the bubble gum fun.

  • Thank you Paul Packer.

position in qqq, msft,

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.

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