The Hollywood Handshake
A humble bear is a profitable bear.
So many faces in and out of my life
Some will last, some will just be now and then
Life is a series of hellos and goodbyes
I'm afraid it's time for goodbye again
My grandfather used to tell me that time is the most precious commodity and truer words have never been spoken. As I sit here and watch the clock slowly tick towards the end of my current role, I find myself filled with mixed emotions. I'm nostalgic, in some ways, as I've worked with these guys for years and we've toed the line through good and bad. At the same time, I'm excited to begin the next chapter of my life and find that elusive balance. One thing you should know-I'm committed to Minyanville as an educational and philanthropic platform and my efforts in that regard will only strengthen. You have my word.
First things first, there are still four hours left in this expiration Friday and we know, by now, that we can't take our eye of the Minx. A close friend of mine was telling me a story about how he's trying to trade from his beach house while juggling a bunch of other responsibilities. I gave him one of those looks-you know, the "you know better than that" looks-and he just nodded in agreement. In this environment, if you're not acutely focused on the tape, you shouldn't be an "active" trader. There are too many balls in the air and too much risk to the tape (both ways).
The internals in the S&P continue to outpace their four-letter cousins and the market is in drift mode. From a technical perspective, there are a handful of different crosscurrents in play. We spoke about the (bullish) TRIN and RSI measures this morning and the constructive stochastics (close, but no Monica) but it's also worth noting that this little jiggle higher does nothing the quell the dandruff concerns across the sector bases. In other words, Hoofy is probably pretty happy with today's performance but he's far from declaring "no more tears!"
Kit Cohan has emerged from the pack and won today's tricky trivia contest. The most popular critter tee shirts are (in order) Snapper, Boo, Hoofy, Daisy and Sammy. I guess that slow and steady really does win the race! Meanwhile, the best actor (male or female) survey is raging on. Bob Deniro and Tom Hanks have taken the lead with Ed Norton and Al Pacino a close second. Hoofy is throwing his hat in the ring as he's trying to act like a champ but this race is far from over. Good luck critters!
Keep an eye on S&P 895 cash as my schnitzel is almost triggered but, more importantly, smile. It's Friday.
I hope this finds you 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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