Silence of the Lambs
Adam Brodsky is writing today's trading diary. Toddo will return to his post on Monday. Enjoy!
Did you hear that? That's the beautiful sound of silence. Which is exactly how the markets are reacting to the release of the economic numbers. They are bouncing around the unchanged level and are ticking slightly higher. In my opinion, it's nothing to get all excited about.
The feeling I am getting is that today is going to be a slow one. With the holidays right around the corner, Thursday nights tend to host a lot of Holiday Parties. Holiday parties tend to tire people out and the last thing anyone wants to do on Friday is take a large amount of risk. The fact that Friday evening can't come quick enough appears to be the theme of people I am speaking to.
That being said it does appear we are in for another choppy day. I am going to keep my stops tight both ways (long and short) and continue to stick and move until it is a bit clearer where we are headed. Talk at you.
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.
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