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.

Franklin's Tower

By

Good luck into the bell!

PrintPRINT



My love is bigger than a Cadillac,
I try to show you but you drive me back
Your love for me has got to be real
You're gonna know just how I feel.


(Buddy Holly)


Holy guacamole, Fokker, it's thinner than Victoria's secret out there! Whenever you see large cap stocks gapping ten, twenty...fifty!...cents at a clip, you know it's waify. When that SPY buyer walked into the market--he bought up to 3,000,000--the dealers stepped aside and went for the ride. Now, with the NDX above its 50-day, the big board battle is front and center. Dow 10,000. S&P 1075. Whataya got?

The breadth remains splendid and, as we know, tapes that are up all day tend to end that way. The caveat that must be noted is that, this time, we're also at some technical inflection points. That doesn't trump the mojo, per se, but it adds an element of "pressiness" to the mix. Since the upside break at 2:00, I've seen nothing but buyers (long and covers) as traders try to give this acne a full fledged complexion. In other words, there's still (some) trappage potential as we eyeball the bell.

With all that said, Hoofy is walking around with a puffy chest as he surveys his empire. Equities are sticky green, the dollar has given back all its gains (interesting), gold is digesting, bonds are higher and psychology is froth and frothier. It promises to be a freaky Friday--and Master Brodsky promises to sneak a Random Thoughts into his daily vibe. Let's make him feel right at home.

The results of the Minyan poll are in and the pecking, er, picking order remains the same. Ditto for the charity auction as Neal looks to steal some face time with the critters. I'll be back in the saddle on Monday so lemme take this time to wish you all a prosperous Friday and a safe weekend. Work to live--don't live to work--and remember that your p&l doesn't define you...it only paves the way.

Fare ye well.

To bid on this item, click here!

< 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 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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE