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.



It's a crisp Wednesday morning in Minyanville and the critters are scurrying around as they prepare themselves for Hump day. The research wagon continues to makes its way through the streets of our humble little town but the news, in general, is light. Wachovia downgraded Goldman and Goldman downgraded Walmart, but as of now, I haven't heard if Walmart has downgraded Wachovia. Morgan Stanley was cautious on the autos and downgraded Baxter but, truth be told, it's quiet enough to hear a mouse fart.

As we continue to sow our garden, Snapper has done his part by planting the seed of fear in the bear's mindset. I haven't spoken to one trader this morning who wants to short the tape (gulp) as conventional wisdom dictates that the path of least resistance is up. If only I was conventional! Luckily, picking (and not pressing) into yesterday's red mess has given Boo some fresh powder with which to operate...and he'll likely have his chance!

The conferences continue en masse today as Goldman's capital goods fete kicks off while Solomon continues it's healthcare checkup with PKN, WYE, DNA, FRX, PFE, BOL, CHIR and OHP (among others). Over at the house of Prudential, KLIC, BMC, ORCL, NTAP, CA, CEFT, MCHP, CHKP, CREE, BEAS, PSFT, SAP, RFMD, NET, BRCM and MUSE (among others) will have a chance to state their case. Thus far, the aggregate voice of tech has been subdued so we'll be keeping our ear to the ground for any change of tenor.

Trading tells today will include (you guessed it) the financials, including the brokers (downgrade) and the insurers (negative article), the Semi's (sentiment), Microsoft, General Electric, IBM and Cisco (bellwethers), the biotechs, WMT (downgrade) and the breadth. I'm also going to be making some channel checks as to the "nature" of the buyers and I'll pass along what I hear.

Stay on your toes today, my friends, and don't trade emotional out of the gate. I've always felt that the first half hour of each day is "noisy," so let's take a fresh peek at 10am to begin our daily read. Most importantly, and in the spirit of Ruby, think positive. Attitude is everything and eye of the tiger is key. Trade to win-never trade "not to lose." It makes all the difference in the world.

See you after the opening.

< Previous
  • 1
Next >

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

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.

Featured Videos