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Reality Bites


Back to back Snappers? Fat chance!


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.
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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

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