Straight from the Boss
I can feel the heat coming 'round
I go to put my arm around you
And you give me a look like I'm way out of bounds
I've never quite noticed how much I enjoy drinking water until today. Dentist's orders-no food or drink before the plierfest-but I'm tellin' ya, it's like cotton mouth without the upside! To add insult to my imminent injury, I'm being told that there's a big Stage Deli print in the works for lunch. Oy!
The action has slowed somewhat since Beeks left, and Boo and I are just chillin' in my office, stomachs growling, and trying to let the market work for us. A lot of people are talking about the importance of yesterday's lows in the S&P (874ish) but I think the more important level is 855ish. That's a more significant support zone, in my opinion, and before this short term topping phase is over, I think we're gonna test it. That (humble) thought aside, the internals are (thus far) hanging in there...kinda like they did yesterday. As a matter of fact, this whole day as a déjà vu feeling to it!
Aside from the sectors we've been discussing, keep half an eye on the soft goods (consumer non-durables). They're approaching an important level technically and it warrants a mention. The auto group has also been an important complex for the tape and they're kinda waffling. If they start to move, the S&P shouldn't be far behind. I also made a quick call to Lord Tush across the pond and he tells us that the European bourses are still down but, at this point, they're playing cart to the stateside horse. Blimey!
Hmm...what else. I've gotten a couple of questions and now would be as good a time as any to answer them. How's this:
The lyrics that segue into some columns aren't arbitrary, there is always a hidden message in them...sometimes you just gotta look harder.
I haven't yet decided whether I'll be dressing up as Hoofy & Boo as a function of my market view. As you can tell, I will always express my view via words and imagery (right, Boo?) but the costumes remain...undecided. All in good time.
The picture on the 'about us' page is in fact me and not Dylan from Beverly Hills, 90210
The archives will be up by next week, I promise.
The disclaimer cookies are going to be set up such that you don't have to click through them each and every time you access a column.
The flagship site, scheduled to launch December 3rd, will have more functionality, more content, more bells and whistles and a whole lot more fun. If I tell you anymore, Casey is going to get on a plane and kick my ass!
I hope this is helpful...I'm trying to get as much out now as I have a feeling I'm going to be fairly goofy all weekend (or, goofier than normal). Once again, a heartfelt thank you for your enthusiasm and response to date. We rely on our readers to help us spread the word and anything you can do is much appreciated. I'm not sure if I'll have time to bang out another post before I leave, so if I don't speak to you, have a most prosperous day and a healthy and safe weekend.
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 email@example.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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