A Quick Sniff
If this Seagate doesn't hold...I may not get held!
The opening bell is met with a bit of selling and Hump Day is underway. A couple of quick thoughts off the bat:
- Quest Diagnostics is being added to the S&P tonight and I'm hearing that there are 2300 spoos (S&P futures) for sale into the bell.
- Watch the Seagate I.P.O (STX)--and it's ability to hold it's issue price of 12--as a "tell" today.
- Software and Media act well out of the gate.
- I just saw a Macro hedgie take a million QQQ's.
- Hearing chatter of an alligator sighting (allocation) out of stocks and into bonds.
- KMB soiled themselves this morning-should color the soft goods.
- Morning breadth is 3:2 negative (very early).
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.
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