I can't wear a grass skirt, silly--I'll eat my whole wardrobe!
I'm sailing away, set an open course for the virgin sea
I've got to be free, free to face the life that's ahead of me
On board, I'm the captain, so climb aboard
We'll search for tomorrow on every shore
And I'll try, oh Lord I'll try....to carry on
The opening bell rings and December expiry has officially begun. For the most part, the opening seas are green as we merge into this morning's traffic but, true to form, I've managed to find potential flies in the ointment. The biggest bug has to be Europe which, despite our strong stateside showing, can't get out of its own way. As past support is future resistance, DAX 3000 now becomes a ceiling for the German market and should be keyed off as an inflection point.
Taking a walk through the morning sunshine, it's interesting to note that the NASDAQ breadth is not confirming the rally (yet) and we should continue to keep an eye on that. Micron and a handful of retailers have also turned lower and that's worth a mention as well. Yes, it's uuber-early kiddies, and the day has just begun-these are the first things that jumped out and yelled "Boo!"
If the S&P can rally north of 895, I may put my other leg back into my metaphorical bear costume just for schnitz and giggles (I currently one leg in, or 25% conviction on the short side). Obviously, my horizon is now six hours (I'm taking the critters and heading to the south pacific) and I'll continue to use a strict S&P 900 stop. I wonder how Daisy's gonna look in a grass skirt?!?!
As far as our trivia question, it's clear that this question is a bit tougher than I thought so I'm gonna up the ante. The first Minyan who can list the best selling critter tees in order of popularity (one through five) will win one of our prized fleeces! Only one guess per person, please, and send your response to email@example.com.
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.
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.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter