Stumblin' and Bumblin'
Thanks to you, I'm much obliged for such a pleasant stay
But now it's time for me to go, the autumn moon lights my way
For now I smell the rain, and with it pain and it's headed my way
The contra hour comes to a close and my desk has become a tad more cluttered with tickets. My eyes keep vacillating between Philip Morris, Cisco, the BKX and my Raiders helmet as we turn the corner and open it up for the final stretch.
Again, the bulls who've been buying all day typically leave ammunition for the closing bell-but with MO down 15%, I think that fly may taint today's ointment. Also, so you're aware, chatter about a Bin Laden tape is making its way around the trading wires. I personally think this pullback is more a function of Smokey--but if I'm going to be your ears, I must also be a voice.
Tomorrow morning we have earnings from a couple of retailers (WMT, TIF) and during the day we'll be hearing from Elmer (speech to the Joint Economic Committee), a handful of financials (Piper conference), QCOM (European meeting), some chemicals (Merrill conference), and a litany of transports (Solly conference).
I am absolutely swamped, my friends, so please let me toss my other hat back on and trade 'em up. Good luck into the close.
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.
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