Fare ye well into the bell!
Reach for the sun, catch hold of the moon.
That ball too heavy, but what can you do.
Reach for the stars, smack into the sky.
You don't want to live but you're chicken to die.
Magda Minx is running wild as the bears run scared and the bulls just smile. The latest and greatest inflection has become a reflection in the rear-view mirror and when there is supply, it's gobbled up by a hungry Hoofs. Case in point? Some shooter sold 30,000 DIA December 99 calls (and created 3,000,000 DIA for sale). Nary a burp.
The quiet riot has put Boo on a diet as we head into the holidays. Just as tapes that are strong all day typically end that way, the bulls are trying to project that phenomenon to the entire year. Trap door potential certainly remains but there are few doubters left to challenge her majesty. That's either very bullish or extremely frightening and, quite possibly, it may be both. I'm not sure how much of this price action is expiration related but whatever it is, it's jiggy green.
The catalyst front is quiet tomorrow before we turn our attention to St. Nick and Chanukah Harry. As it stands (and it's not over yet), the NDX still hasn't confirmed the new highs in the Dow and S&P and a few whispering doubters are chatting that up. Either way, Boo will be hard pressed to post-rationalize with the semis up 4% and the broader market shrugging off this morning's broke brokers.
I'm gonna jump and juggle as I've got a pretty full plate (in more ways than one). I'll most likely have a handle on my end of year schedule by the end of the week so thanks in advance for understanding. The other professors will be rotating throughout the holidays and into January before we roll out a slew of new features in February. Man, this year just flew by, didn't it? Remember, Minyans, it's the journey that counts....for by the time you reach your destination, the ride is already over.
Have a peaceful night.
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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