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Fare Ye Well Into the Bell

By

We've got a heavy few days coming our way so keep your head up and your eyes open.

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So, you wanted to be a trader, eh?

I suppose we shoulda figured today was gonna be nutty from the gun. Between the overnight "did you see that?" to the always exciting expiration hangover to the pre-FOMC posturing to Earnings Avalanche: Part Deux.

We started strong, tested the bovine resolve and now, a kitten's whisker from thy bell that tolls, it appears as if Hoofy will snatch the Monday crown.

I've never been one to shy away from a good conspiracy theory but I'll humbly offer that the overnight demand had more to do with an expiration goof than some sorta master plan. I mean, if someone wanted the market higher, they would simply hit the BUY button all day and create eye-popping and incessant positive TICK readings. Oh....well, that's a conversation for a different time.

The just the facts Ma'am synopsis is that, at the end of the day, the bottom line doesn't lie. We are higher, there is constructive action in the brokers and the tape bends but doesn't break during probes. True, the ursine would prefer better breadth (or strong trannies, or firm homies, or...) but hey, if they're not gonna complain. Not when they've got jingle in their jeans and not when Peter Keating has proclaimed the market to be "back."

We've got a heavy few days coming our way so keep your head up and your eyes open. And keep an eye on that dollar, my friends, for further liftage could quell the equity swell.

Have a most mindful night.

R.P.

No positions in stocks mentioned.

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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