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Base in Your Face

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My time will come...the question is when!!!!!

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Adam Brodsky is writing today's trading diary. Toddo will return to his post on Monday

We continue to base as we head into the weekend. In my opinion the absolute worst time to put on a position is late Friday afternoon and because of this the volume may continue to dry up. I am paying attention to how they are going to close the SOX (above 494), S&P (above 1070), Dow (above 10,026), and the NDX (above 1405.) In my mind, these levels are key areas and a close above them may be bullish for the aforementioned indexes and the overall market.

Next week will be a lead into option expiration, which is one week from today. I am going to be looking at a wide range of stocks over the weekend and try to gauge where we may go from here. I am also going to be looking at heavily traded names and where they are relative to where a large amount of open interest may be. With volumes so thin and a lack of near term catalysts, that may drive next week's market.

Have a great weekend.

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positions in various semi stocks

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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