Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Joisey Rocks!

By

PrintPRINT
I see you on the street and you look so tired
I know that job you got leaves you so uninspired
When I come by to take you out to eat
You're lyin' all dressed up on the bed baby fast asleep


(Bruce Springsteen)

The opening bell clangs and Hump day in Minyanville is underway. I just turned to my paunchy sidekick Bucky and asked if the tape felt a little different to him today. Once he swallowed his (second) breakfast, he agreed that there was something peculiar about this morning's action...although we couldn't quite put our finger on it. It's probably for the best-he'd get muffin crumbs all over the Minx!

The uuber-early action is lethargic as traders wearily trudge into the muck and the flickering ticks are flickering a bit slower than usual. It continues to feel as is traders are looking for direction to establish itself so they can jump on board--despite that being a painful strategy of late. Indeed, the S&P is precisely where it was a month ago and the NDX has been in a holding pattern the last few weeks. If you've been chasing up and pressing down, you're likely whip creamed by now!

A check of the morning breadth shows a slight shift to the positive as winners are outpacing losers 3:2. The semicaps and banks opened firm and have, thus far, held their bid while the brokers feel like there's some early supply around. Drugs (not hugs) also feel a bit heavy but I haven't uncovered any smoke in that complex yet. Finally, soft goods opened (marginally) red across the board while the all-important retail group is mixed.

Meanwhile, the entire Menagerie just walked into my office and shut the door behind them. Bucky, Junior and JJ all looked at me to see what was up, but honestly, I haven't got a clue. It might have something to do with the pending launch (13 days!) and if I pick up anything I'll pass it along to the readers. I will so though...Daisy looks good!

I'll be back.

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 todd@minyanville.com.

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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE