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.

The Gel Smell


Patience brings price!


Oh man! How'd you get the beans above the frank?
--Charlie Jensen, There's Something About Mary

Ted Stroehmann just spun by Minyanville (sans Mary) to catch up on old times and ask if the Minx is gonna open a can of whoop-ass on him. Hey bro, it's good to see ya! Let's ask the critters what they're seeing out there but please be courteous--those goofy bastards are all I've got!

The flow continues to be dominated by the hedgies and the futes are jumpin' around faster than Warren on a handful of speed. With that said, Hoofy notes that the lunch crunch alleviated the uber-short term overbought condition (caused by the quick spike) and, as we've yet to roll over, that could be a recipe for squeezage. While there's resistance above and risk below, the question remains: have the bears have gotten too comfortable shorting rallies?

While I'm currently dancing in my metaphorical bull costume, I have no interest in being a poster boy for the bulls. This schnitzel is a trade, pure and simple, and I've yet to decide if I want to go home dressed. Again, my dilemma is one of timing and risk management--my indicators are lining up but they're not yet compelling. As such, I want to make sure that my risk profile is an extension of my thought process while erring to the side of caution.

The macro tells continue to support the cameo--crude is down, the dollar holds it's gains and gold is getting smoked. Still, there's plenty to be concerned about--including things we can't see--and I want to make sure that the mechanics of my swing are consistent with my stated methodology. In other words, is there an adequate edge in keeping overnight exposure?

We don't have to make that decision...yet. The breadth concerns me but I'm gonna stick with Hoofs for the time being. It's a judgment call, really, and I wanna see how the next hour plays out. Thanks for being patient with me...this head cold is kicking me arse!

Good luck...and make Mary proud!

< Previous
  • 1
Next >
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.

Featured Videos