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Duck, Duck, Goose!


Minxy musical chairs is the game of choice as we edge through the contra-hour and the bulls are shaking their collective bones. The bears, meanwhile, are staring at the seats and wiping their brow as the tape continues to dance higher. With play time winding down and some serious overnight events looming, it's decision time in Minyanville.

Aside from tonight's big earnings, Mr. Clarence Beeks will drop by tomorrow morning with the Crop Report, Producer Price Index (exp .2, ex-food and energy .1), Industrial Production (exp.-.3%), Capacity Utilization (exp. 75.6%) and, in lieu of a basketball team, we'll get the University of Michigan Confidence number (exp.82). In the post Elmer trimfest era, investors will be focusing on these economic reports for any signs of a pulse (see retail sales), so keep them on your radar.

Boo's voice is 2 octaves higher as a function of this action but I told our furry friend to take a deep breath. This liftage simply takes the tape back to last week's levels and, while we strive to capture every move, it's important to keep it in perspective.

Meanwhile, Sammy the Snake just slithered over and asked me why I have such trust issues. I told our resident sage that I feel as if this market is a wounded animal. If you back her into a corner she's gonna take a bite out of you but, if you give her time, she'll exhaust herself. That may not be today's business, mind you, but I think that's an apt analogy.

Market's that are strong all day tend to end that way but I'm keeping a loose grip on the handlebars and attempting to view the price action as an opportunity. Attitude is everything in this business and if you're reactive and stressed, you're going to miss the bigger trade. Also, if you're staring at one position or sweating out each tick of the tape, odds are you've got too much exposure on. It's all about balance, Mon frere...think about it and adjust.

Good luck.
No positions mentioned.

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.

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