Fritters and Critters
You fritter and waste the hours in an off hand way
Kicking around on a piece of ground in your home town
Waiting for someone or something to show you the way
If this is supposed to be the busiest day of the week, I'm not sure I want to see a slow day! As the tape continues to flutter about, we're left to openly ponder if today's one of those days when the last program wins. We saw that dynamic in play late Friday and the tape is even thinner now so, regardless of your posture, factor this into your approach as we cast our eyes toward the close.
The tenor of the tape has stabilized and the market is officially in drift mode although...you can almost feel something brewing. The traction in the semis continues to be the most bullish element of today's action although it remains too extended for my liking. On the flip side of the coin, the banks trade a bit heavy and that's weighing on the old school. Other than that, I don't think I can find a sector that's offering much of anything. Sorry Charlie...I wish I had more to tell ya.
There will likely be plenty of fresh information to trade once we return from the long weekend, so use the holiday to refresh, recharge and balance. If you drive yourself full throttle and redline on a daily basis, you likely won't have enough gas in the tank to finish the race. Besides, this is a time to appreciate the good things in life so take advantage of the down time and enjoy the fam-you've surely earned it.
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 email@example.com.
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