This is all me!
Is there anybody in there?
Just nod if you can hear me.
Is there anyone home?
The afternoon snooze continues to cruise as traders trade and the critters choose. There are certainly some themes that belie the calm seas but, by and large, the tape is drifty and in watch mode. Heck, with the S&P futures in a three handle range all day, is there anything to do but watch? Until S&P 1060 is breached (lower) or 1065 is taken out (higher), the yawn song will continue.
A quick peek at Flow's Diner reveals a couple of stealth put buyers in the financials. Over the last week, someone has been steadily buying downside paper in this group--a theme that continues today. I've tried to sniff out the M.O to see if they're speculating (on the downside) or protecting longs and, from what I can tell, it's more the former than the latter. Smart guy? Dumb guy? Don't know--but wanted you to see it.
It's quieter than a mouse fart so lemme take some time to discuss the Minyan happenings into year end. I will be out this Friday (personal day) and will then take some time after Christmas through early January. The talented Mr. Brodsky will be writing the trading diary in my absence before he, too, takes a much needed respite. The rest of the team will be alternating throughout the holiday season and, as we enter the new year, expect to see new additions to the Minyanville faculty.
That's about it as we search for clues in the snooze. Congrats to Minyan Paul Taglia for correctly identifying "In & Out Burger" as the logo on Mikey's tee that fateful morning. For that, Tags will be sporting a snazzy new Minyanville tee through the streets of L.A this holiday season. Be warned, Paul--the critters don't take kindly to Bloods and Crips!
As always, 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 email@example.com.
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