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Hot Potato


Another week of Minyanville is underway and as the opening bell rang, I turned to Junior and confessed that I couldn't do it. I spent all weekend trying to convince myself to be bullish but, when push comes to shove, I just don't believe. That, of course, doesn't mean we can't rally (timing is everything)-but I've never been one to blindly defer to the price action. Remember, if you own 'em just 'cause the tape acts well, what's your catalyst if (when) we turn? My point is, if you're gonna play that game, define your risk please.

The action in the banks and retailers stand out as they both immediately came for sale out of the gate. It's important not to read too deeply into the initial price action but I wanted to pass it along regardless. A check of the morning breadth shows a relatively balanced posture (after an initial surge) while the semis have taken a breath as they await word from 'Frisco. So you know, I've asked Rich Gannon to pass along any news from the Bay Area and he's agreed to do so. Such a mensch!

The week is but an hour old so take a deep breath-it's more important to do it right than it is to do it quick. On that note, let me jump to do the right thing. I'll be back, Mon frere.

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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