Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stimulate This!


Hey Toddo--I still love ya baby even though you don't give me any respect!


The sailor gave at least a try
The soldier being much too wise
Strategy was his strength
And not disaster

(Grateful Dead)

Wasabi Sammy! This slow, sideways and slithery tape is right up your alley, isn't it? I'll make you a deal-you can chill in the 'ville as long as you'd like if I can visit your clan in Zona soon. I try to make it out there once a year for a little spiritual refocusing and I'm due for a Miraval miracle right about now. When you stare at screens all day, a little hiking and biking is always good for the soul!

First things first, we've got a Minx to tame and the drifty afternoon action is starting to pick up some jig. Again, I can't tell you what the ramifications of a potential stimulus package are-I'm more concerned with how the perception of the stimulus package affects the price action. If you recall, the perception of an accommodative Fed buoyed prices initially before it became painfully apparent that Elmer's glue wouldn't hold. This could be much of the same.

The internals on the big board are grinding better as the bulls attempt to make back some lost ground but it's worth noting that the volume is thus far suspect. Once again, the traction in the financials and the reversal in the bonds stand out as the two most glaring elements of today's action and I'm monitoring NDX 1070 and S&P 914ish (yesterday's high) as near term resistance. With two hours left in the week and a looming Iraqi decision on Sunday, the rest of this session is tough to call. If I had anything, I'd offer it out to you but you'll never see my talk just to talk-that's silly.

I'm comfortable with one leg in my bear costume (25% conviction on the short side) and plan to add further appendages (me thinks) when the short-term oversold condition alleviates itself. I actually thought of doing the Texas two-step this morning (out of the bear, into the bull) but I decided that it was too cute. Consistent with my view, I'd prefer to slowly scale into short side exposure (for a trade) and let the chips fall where they may.

If you're feeling a bit confused by my vernacular let me assure you that it's not you-it's me! Still, if you don't understand what I'm saying, you may want to take a peek at the dictionary in the Ruby Peck Memorial Library. If a term isn't in there, send me an email and I'll make sure I add it. It's just that easy.

Hope this finds you making a few shekels.

positions in qqq, spx

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.

Featured Videos