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Meow Mix


If these levels don't hold, heads (and shoulders) are gonna roll!


But if you wanna leave, take good care
I hope you make a lot of nice friends out there
But just remember there's a lot of bad and beware

(Cat Stevens)

It's a gorgeous winter morning in Minyanville and the critters are bundled up and ready to rock. The pre-opening scuttlebutt has been relatively active as traders digest the economic data (worse than expected), Oracle's earnings (marginally better) and the brokers (still digesting). An equal (if not greater) focus has been placed on the macro crosscurrents as gold is (once again) rallying, oil is firmly above $30/barrel (although OPEC just hit the tape saying that they'll increase production) and, oh by the way, Europe continues to get creamed. Watch that DAX, cookie, whether you sprechen Sie Deutsches or not!

In level-land, the S&P continues to flail around our support cluster but we're getting close to put up or hide time. The bottom end of the cluster muck is around S&P if we decisively break that zone, we'll have confirmed the head and shoulders pattern (negative). Meanwhile, the semis, which are now down 20% so far this month, have a corresponding SOX 280 dandruff level. Both these sectors are approaching oversold territory and the stochastics are edging closer to buy signals but, again, these oscillators are decent directional gauges but unreliable timers.

Keep half an eye on our technical levels (they matter), half an eye on the leadership groups (semis, banks, retailers), half an eye on the maco-tells (gold, crude, dollar) and half an eye on Europe (ya!). When your done with that, watch Microsoft and Cisco (gorilla tells), the internals (daily tell) and defense, soft goods and energy (contra-tells)

I'm juggling like the clown I am this morning but, as this is the last auction day, I'm gonna be all over this. Victor Gallo has emerged with a new high bid of $3500 for the one-of-a-kind, signed by all original critter poster (see below) and, as 100% of the tax-free proceeds will be donated to The Ruby Peck Foundation for Children's Education, he's got some good energy coming his way. Send your bids to and be the ball!

See you after the opening.


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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

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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