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.




Talk about morning breadth! Yes, it's early, but keep an eye on those internals...they're fugly thus far. On both the big board and the Nazz, the losers are outpacing the winners 2:1 while downvolume is trumping upvolume 10:3. Meanwhile, those pesky banks are getting fripped for another 2%. I'll tell ya, when they frip 'em, they frip 'em for real!

Any discernable turn will be led by the financials, so take half an eye and focus it on the BKX (banks) and the XBD (brokers). Away from that complex, the Sears miss this morning is pressuring the retailers. This group has also been trading "off" of the west coast dockworker strike, so if you're involved, keep an ear to the ground for developments there. And watch the fear factor as the VIX slowly creeps towards 50, which "has" been a decent contrary tell....although it 'works' better on spikes rather than grinds.

It's early, and there's a lot of trading left in the day--- keep that right hand up as we wade through this muck. If you're unsure, do a little less or set stops on your trading risk. Trading isn't a toin's about maximizing your reward relative to your risk and finding an edge.

More importantly, prayers to our friends and family in Maryland. May peace be with you.


No positions in stocks mentioned

< 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