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.

Police Blotter

By

PrintPRINT
I have stood here before in the pouring rain
With the world turning circles running 'round my brain
I guess I'm always hoping that you'll end this reign
But it's my destiny to be the king of pain


(The Police)

Another session springs out of the gate and the critters are hard at work scanning the landscape for today's clues. Boo, wearing a sling on his left arm and sporting a black eye, has dragged a cot by my side and is monitoring the action with me, I.V drip and all. I told the little fella that every day's a new day, and he should keep his wits about him as we find our way. Positive thinking, brother, Ruby style.

The early action is noisy and sporadic and our trading tells are mixed. Morning breadth is pretty even on the big board (2:1 upvol/downvol) and the Nazz(2:1 upvol/downvol). Our big cap tech tells are doing the scarecrow (thataway), the BKX/SOX duopoly is clinging on to early strength, retailers act well and media is under pressure. Have enough to look at? Good, now throw the biotechs on your radar (they're typically a good indicator for the Nazz) as well as General Electric.

On the flow front, I saw some macro hedgies scooping E.T.F's out of the gate and the requisite futures buyers tagged along, but we saw the same thing yesterday. At the risk of Boo kicking me in the shin (with his good leg), the close is entirely more important than the opening. As you're quite aware, the market has absorbed supply and closed strong as a matter of course. An abatement of that pattern will likely be the first sign of a respite from Hoofy and his manic crew.

One more thing. Brent, will you please stop sending me cases of Brent & Sam's chocolate chip cookies! They're awesome, but you can almost hear me get fatter!

Be back.




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