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.

Food Coma!


I've got plenty of Clearasil in my back pocket!


Good morning and welcome to top button talk. After three days of sway and a play day away, it's once again time for the minxy café. The session is short (so be a good sport) and skeletal crews will hold down the fort. As we ready for the show, what we wanna know is if the acne above is destined to grow. Can Hoofy push through the technical zoo or will Boo render rumors of upside untrue? It's a short Friday session of trading obsession so stay disciplined and control your aggression.

Having spent the holidays with my brother, I'll be spending the next few hours operating out of the Baltimore office. Basically, what that means, is that I'll be monitoring the action with two screens in front of me and two kids around me. I'll do my best at the former (while enjoying the latter) but please understand that I'm operating with skeletal systems of my own. Hey-after the obscene volume of food that I ingested last night, I'll take all the skeletons I can get!

Taking a quick walk through the 'Ville, chatter of possible Japanese tariffs around on Wednesday but seemed to get a bit louder since. The greenback attack is in full force as the dollar index (DXY) flirts with the 90 level for the first time since late December 1963, er, 1996. The shruggers will (correctly) argue that the dollar squalor has been in motion for months and equities continue to press up towards yearly highs. Hard to argue with performance, I suppose, but a melting currency has always been one of the catalysts for my bigger picture fears. Call me old fashioned or call me wrong---just please don't call me for breakfast. I'm on a hunger (digestion) strike.

S&P 1060-1062 remains the upside line in the sand and, as it's month end, there will likely be some gamesmanship to break on through to the other side. It would be nice to think that this type of thing doesn't happen-particularly during these times of regulatory scrutiny-but there are surely fund managers out there looking to giddy up the thin pup. Our mission in the rain is to identify whether to act on the acne signal (if and when) or to recognize that, with everyone in the free world looking at the same level, the trading community is probably loaded to the toes (and thus, vulnerable to a false breakout).

It's academic-for now-but trading 101 dictates that with every test of resistance (support), the underlying supply (demand) gets eaten up. Thus, after 5 tests of the ceilingfest, the bears are on their heels and seemingly ready to squeal (again). Watch the financials for leadership, the semis as a tech sentiment, retail as a holiday shopping proxy, the dollar for outsized moves, the internets and biotechs (leading four-letter tells) and the clock. In about three and a half hours, we can get back to the important stuff.

Good luck today.
< Previous
  • 1
Next >
No positions in stocks mentioned.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos