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Endangered Species


With everyone looking for a big move, wouldn't it be ironic if we just sat in a range the rest of the day!


And in the master's chambers
They gathered for the feast
They stab it with their steely knives
But they just can't kill the beast

(The Eagles)

Wow, this tape has more swings than a playground at a Lifestyles convention! The opening mess was met with a green scream and now the Minx is doing her best scarecrow impersonation as she points thataway. Snapper walked by and kicked me in the shin on his way out the door but I explained to our little buddy that there are few 'easy' trades and we gotta take baby steps. Now it gets interesting.

The string of losing sessions adds a saucy element to an already spicy juncture and traders seem spun around by the price action. I will tell you that the recent meltage is precisely the reason I'm not being more aggressive on the short side despite my broader thesis (Razor Burn). Often times, when staring at the screens all day, it's easy to be a junkie and trade the flickering ticks because, well, they're flickering. Pick your spots and balance patience with discipline-it will differentiate you from the emotional crowd.

We knew that these levels were going to be a dogfight and you can hear the loud barks throughout Minyanville. The banks and biotechs are showing signs of traction but, other than that, nothing overtly bullish or bearish jumps out. I continue to think the upside is the "cute" side and I'm chilling with Boo, but I'd rather fade and not press. In other words, I've got my requisite exposure on and, with only one leg in my bear costume, I've got plenty of dry ammo. If they do lift, I'll view higher prices as an opportunity (not a hindrance).

I clearly have trust issues and I'm going to discuss them with Dr. Melfi on Sunday but, in the meantime, I'm keeping my right hand up. I still sense that the long side is crowded and, while they need to work off the short term oversold condition, the fresh money longs might get impatient if we don't begin to rally. That, of course, may not be today's business but it's a dynamic that's "out there" and it warrants discussion.

In Minyanville news, we continue to iron out the kinks and will be making more adjustments over the weekend. If there are times that you have difficulty accessing the site, understand that it's a short term speed bump as we pave the way towards better service. We'll also be rolling out a slew of artwork at the Gallery for the Arts so be sure to check that out when the shipment arrives. One of the great things about our humble little town is that it's going to continue to evolve and improve with new features, new writers and new stuff. In other words, the journey has only just begun.

I hope this finds you well.


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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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