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Quick Thoughts on the Opening

By

There's nothing wrong with a soft belly!

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  • Watch the financials as a proxy for the "rate hike" sentiment. If the perception of higher rates is what turns the tide, it'll first show up in the piggies.

  • N's over S's.

  • If you've got a Bloomberg, make sure you see the Fannie Mae (FNM:NYSE)/Abernathy article as well as the hard line chatter from Greg Mankiw, chairman of the President's Council of Economic Advisors. More smoke.

  • Breadth in the Nazz is flat and 3:2 negative on the big board.

  • The Jinxy volatility continues.

  • Is there anybody who isn't expecting a positive payroll report tomorrow? Are the bears waiting for that to short and is that too cute?

  • The teletubbies are getting cocky.

  • Europe remains firm.

  • My belly remains soft.

  • I'll be back.
position in fnm, qqq

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.

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