A new low in the financials would bode well for the bears.
- Meet the Critters!
- Ruble Rubble!
- Friday Night Lights may be the best sports flick since Hoosiers.
- And you wonder why the dollar is down?
- The Yankees....the Raiders....the agony of defeat.
- There are trades for a catalyst, trades for a thesis and trades for the day. You should always remember why you initiated risk when it comes time to assess it.
- The semis have acted dry all session and are trying to spur the herd. If the financials can find some sponsorship (watch Citigroup (C:NYSE) and its ability to stay above $42), Snapper has a shot. He will, of course, run into resistance at S&P 1100 but we'll cross that bridge if and when it is drawn.
- Breadth readings have balanced (from the morning slippage).
- School Daze!
- Bloomberg reported that Norway's government ended its oil rig conflict. Rude crude front month futes initially burped a percent lower on that news but has since grinded back towards unchanged.
- Lotsa earnings on the trading radar although it'll pale in comparison to last week's freak.
- A write-in? Doh!
- Google (GOOG:NASD) is 5% higher as it continues to add to the post-earnings fad. We know that insider stock will be "unlocked" in the weeks ahead so it'll be interesting to see if the supply/demand equilibrium shifts.
- Boo is bummin'.
- NASDAQ 1900 is another level to toss on your radar.
- I ran into a market "wizard" this weekend who offered that this is the most difficult tape he's ever seen.
- Chatter of a terror alert was floating around on Friday and while I've yet to hear it today, odds are that it'll resurface before long.
- Seeing old friends is always good for the soul.
- I opined a few weeks ago that I expected the downside but respected the upside. That remains my mantra although defined risk and proper positioning allows for both. I tossed on some upside exposure this morning with an uber-tight stop and won't hesitate to remove it if my levels are triggered.
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.
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