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Brothers in Arms


Wake up Fokker!


Crossroads, will you ever let him go?
Will you hide the dead man's ghost?
Or will he lie, beneath the clay?
Or will his spirit roll away?

(Allman Brothers)

It's lunchtime in Minyanville and five frazzled friends of ours just stumbled into the office. With the exception of Daisy (who does NOT want to be disturbed), the critters have (slowly) gathered around my desk to check out what's happening. I asked them to lower their voices (lest they wake up Fokker) and sit by my side. Here's what we discussed.

Breadth is minty across both complexes, the semis are studs, the brokers have been given a time-out (by themselves), the banks are re-testing BKX 950, the internets are firm, the homies are drizzam and tertiary tech trades dry. The sideways Sally (at these levels) is setting up for one of two things (discussed earlier) and, if there's a saving grace, it's that we'll know soon enough. So you know (and if you care), there's still flags being offered by respected technical types and I've learned through experience to ignore them at your own risk.

Aside from a pawful of earnings tonight, the catalyst calendar is empty till next week. We do have four witches flying in tomorrow for December expiration and that's sure to add spice to the minxy mix. You'll see some magnets towards pins (strikes) as well as some underlying currents impacting the price action. From a trading standpoint, that has the potential to exacerbate volatility as dealers hedge their negative gamma.

Finally, I wanna thank all the Minyans for the good vibes we've been receiving. This is the type of community where you either 'get it' or you don't 'get it.' If you're reading these words, chances are that you do. We've got big plans for 2004--more value added features and content--and we rely on the Minyanship to help us spread the word. Any help in that regard is much appreciated!

Fare ye well towards the closing bell.
position in spx

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

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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