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The Bond Man Cometh


Way to go Brian!


The week is barely underway and the "buy the dip" chatter is already making the rounds. I suppose repetition breeds familiarity and that knee jerk reaction has brought satisfaction. Watch for an early attempt higher (and a lot of noise) in the first half hour before the broader agendas settle in. With 32 trading days left in the year, the grip is getting tighter with each passing tick. Take a deep breath, Minyans, and leave the emotion for the other guys.

New shorts were definitely initiated on Friday so an upside uh-oh wouldn't shock me. Still, I am in the fade rallies camp (still) and will look to employ trailing stops on my peripheral (more aggressive) exposure. Again, watch the breadth and keep a nose out for leadership (either way). Internets, biotechs, semis (Nazz) and brokers, money center banks, cyclicals and retail (big board) will wag the dog. Also, I wanna see how pharma opens for signs of the (continued or stalling) rotation.

Finally, congratulations to our very own Brian Reynolds on his new role as Chief Market Strategist of M.S.Howells & Company. He joins Scott Pollack and his talented team (based in Arizona) and the critters wanted to give him a shout out before the fray is underway. Brian will continue his (most excellent) educational commentary as Professor of fixed income and economics on Minyanville. On behalf of the entire Minyanville staff, we wish you continued success in your future endeavors!

Hit 'em hard.
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