If you were uncomfy when the tape was lower, remember that feeling now that we're higher.
- "Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists antagonism toward the gold standard." --Alan Greenspan (1966)
- What have I done today? Rolled up the stops on some of my (upside hedge) call options and scaled into further underneath puts. Out of respect for my main trading tells (namely breadth and leadership), I'm not getting too aggressive but I am attempting to use prices to my advantage.
- The Cowboys have the lead on home field advantage throughout the playoffs. That's...well, that's why they play the games.
- I'd imagine that there are a top of "buy stops" above S&P 1060 (if and when).
- I'm being told that the macro gorillas have been unwinding the "long Euro/short equity" trade and, in a thin tape, that's dominating the supply/demand equilibrium.
- Minyan Trivia: Where does Clark W. Griswold's cousin Eddie live? The first Minyan to send the city AND state to email@example.com will win their choice of a Minyanville tee. Quick, somebody tell Rusty!
- Europe continues to hum as the Minx whistles Dixie.
- If the Wiggles can sell 40 million dvds, the critters should be in good shape.
- Just as the fear of downside can spark a rally, the fear of missing (the upside) typically means a sell-off is close. As it stands, you can almost hear the collective sigh of relief on the Street.
- I still wanna sell rallies but I'm gonna be uber-tight with my discipline. As discussed many times, levels weaken with each test. We saw it on the downside and we've seen it up above at S&P 1060. That's the bull's task focus--to trigger a coverfest above.
- Carmello lit up Dallas in the first half but was MIA in the second half. Meanwhile, the Mav's (my second favorite NBA team) have a legitimate shot this year.
- Somebody just bought 3000 S&P December 1035 puts and the market sucked up the hedge (S&P for sale).
- Pro golfers have some life, eh?
- The homies are roasting the shorts again.
- The equity put/call is .52 and the index is 1.30. Both have ticked lower from the opening.
- The F-troop continues to trade heavy.
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.
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.
Daily Recap Newsletter