Bank on it!
I want chicken
I want liver
Meow Mix Meow Mix
(Morris the Cat)
I've heard of hissy fits but come on now Fokker--this is a family oriented community! Do you really think the Minyans wanna visualize a feline wilding first thing in the morning? I have one question and I'll let the subject rest--which cat got the tongue?
Speaking of nine lives and dead cat bounces, the Minx is open and ready for business and Freaky Friday is underway. Index options expired on the opening (individual equities have an afternoon settlement) and the ticks have already begun to flicker a bit slower. Typically, the meat of expiration related flow (and volatility) is seen in the days preceding the actual expiry. That might change today (as a function of the calendar) so stay on your toes as you eyeball the flows.
I'm keeping a keen eye on the financials today as the piggies are tickling their yearly highs. If (big if) the BKX can add a leg to its centipede greed, it'll obviously bode well for the broader tape. Breadth is a tad laggy, the semis remain under their 50-day and the NDX has that non-confirmation thing going. Still, Hoofy deserves the benefit of the doubt until he trips, slips, dips and flips.
There's something about the holidays that make us all feel like kids again. That must be why most adults are on Santa's sleigh and convinced that higher prices are coming to town. Sell hope and buy despair? That used to be my favorite trading saying but the momo flow has left tread marks on Boo's butt. Still, and from a broader perspective, we must recognize that the consensus is typically trapped at minxy cusps.
Watch the banks, Minyans, as they'll decide whether we dance on cat nip or sleep in the kitty litter. I hope you're all faring well on this winter Friday and enjoying the holiday season. So you're aware, for all the supporters of the Ruby Peck Foundation, we made distributions to our beneficiaries this week. I've cut a lot of checks this year but penning those put a smile on my puss. Thanks kindly for your continued support--Ruby is giving us all his patented wink.
Fare ye well.
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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