Now THIS, mon frere, is a slow and slithery market.
Lost now on the country miles in his Cadillac
I can tell by the way you smile he's rolling back
You wanna hear something that's nuttier than Austin Power's coffee? 53 Dead shows and I never once heard a Cassidy. Granted, at 33, I'm a relative newbie to the scene (I was barely a martini at Woodstock!) but as it's one of my faves, I figured I'd point it out. For those of you who don't subscribe to my taste in music or think that everything ex-tickering flicks is fluff...well, what can I say? A little levity goes a long way and music is good for the soul.
The Minx has spent her early afternoon flummoxing the chasers as she's now retreated back to flatline status. I know better than to put my right hand down (no complacency please) but there's a difference between doing less and not working. In other words, one of the hardest things to do in this tape is remain sharp if you're not trading much. If you can learn to keep the eye of the tiger while exhibiting patience (and awaiting an edge), you're head and shoulders above your trading brethren (no pun intended).
For my part, I've been splitting my time between making calls around the street and chowing down the endless parade of holiday chocolate that's stacked up in our office. When my mouth hasn't been full (both minutes), the conversations with my derivative contacts have yielded some interesting tidbits. For instance, I'm being told that the pension funds have been steadily selling into strength for the past week and year end "collars" continue to be priced. What does that mean? In a word: overhead supply.
As far as the daily action, there ain't a whole heckuva lot going on and, outside of some drag by the financials, not much stands out. Taking a peek at our trading radar, Monsieur Beeks will be dropping by tomorrow with the retail sales figures (exp.4%, .2% less autos) and Jobless claims (exp 380k). There is also a handful of company sponsored meetings, the continuation of the Media conferences and a handful of earnings (ADBE, CIEN). Hey...it's better than nothing!
In Minyanville news, we're actively working on finalizing the flagship site and will continue to tweak it through the rest of the year. Once we turn the corner into January, we'll turn our attention to the University content and the (elementary level) Little Red Schoolhouse. We've got some pretty snazzy writers lined up and the educational aspect of our product should really come into focus as the community evolves. Also, Minyanwood and The Town Hall will be rolled out in the coming year and I know Casey has some tricks up her sleeve coming out of the left coast. In short, there's a lot to look forward to and the critters are psyched that you're along for the ride!
All good things in all good time, cookie, and we'll continue to walk our journey one step at a time. Now, if you'll excuse me, Boo's jumping up and down trying to get my attention and he can be annoying sometimes when he doesn't get his way (no offense).
I sincerely hope this finds you well and I'll see you in a bit.
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.
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