"I'm fatter, er, flattered"
--Sherman Klump, Nutty Professor
Somebody stop me! It started with a doughnut at the coffee stand which, I suppose, is innocent enough. After a bacon, egg & cheese, tuna melt and onion rings, however, I'm edging ever so closer to a top button situation. Lest I forget, I've got a 6:00pm dinner with Shrebby and my old shop before heading to the Bronx zoo. Oompa Loompa!
Speaking of fat gains and unbuttoned stains, the Minx is eating some waffles as we edge through the contra-hour. During the test rest, I have been monitoring the breadth for signs of slippage and, as it stands, the internals are still sitting pretty. I have seen some macro funds trying to punch the doggies through the underneath gaps (from this morning's opening) and, as of this post, the S's have filled and the N's are on their way.
Juniper (JNPR:NASD) and General Electric (GE:NYSE) highlight the overnight earnings parade while Beeks will stop by to drop off the PPI (exp. .1%). That'll wrap up this week's catalysts and investors will then cast a collective eye towards next week's insane line-up. As such, posturing and manicuring will likely shape the flow as we ready ourselves for our requisite two day respite.
I'm standing by the hot razor as an overall thesis but, again, it wasn't necessarily today's business. A reversal of fortune certainly wouldn't bode well for psychology, however, and if (big if) we fail to hold, alotta traders who "gamed" those levels will have lost their catalyst. For my part, I've pared some of my day trading risk (discipline) and wanna see how this shakes out. The sell-off is futures led, for what it's worth, and the internals are still trying to hang tough.
Last but not least, Chris Russo nailed today's trivia by correctly identifying Israel as the country with the largest number of biotech start-ups (on a per capita basis). For that, he wins a critter tee of his choosing to sport at his leisure. Noice! For the rest of ye faithful Minyans, good luck into the closing bell, enjoy tonight's game and have a peaceful and relaxing evening.
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 firstname.lastname@example.org.
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.
Daily Recap Newsletter