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.

Reality Bites

By

Back to back Snappers? Fat chance!

PrintPRINT


Quick thought--and as I'm havin' it, you're reading it. The bulls are gonna do everything they can to hold S&P 1020ish. Yes, the breadth stinks. Sure Microsoft (MSFT:NASD) should change its name to Majorsoft . And, in my humble opinion, the bull's case has suffered significant dings this week. With that said...

The path of maximum frustration may dictate a rally into next week (to completely shake out the bears and suck in the remaining bulls). I don't know if that's gonna happen, obviously, but I'm mentally prepared as we head towards the weekend.

Will I try to game that upside move? No...I'm still in the "fade rallies" mode (via cheap put paper) and don't wanna get too cute (in case Snapper gets shy). If, however, the bulls can turn the tide (no small task), the chorus of "they're never going down again" will echo loudly--and that would be a precursor for a nastier spill, Just thinkin' out loud and wanted to share.

As always, I hope this finds you well.
< Previous
  • 1
Next >
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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE