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 Mysterious Minx

By

No sizzler for me!

PrintPRINT

She's slippy
You're sliding down
She'll be there when you hit the ground

(U2)

I've got to tell ya, I'm a little surprised by the lack of noise accompanying this slippage--the wires are quiet, the VIX is still down and the trading rooms are quieter than a kitty fart. Where's the fear, Mon Frere? Despite the failure at resistance and the fugly action in the banks, nobody seems that concerned. Is it me?

For the Bloomberg players among you, pull up a five day gip (chart) of the S&P and look at the trendline from yesterday's lows. We were hugging it for the better part of the session and then--BAM--we spilled miserably. The next support zone is yesterday's lows of S&P 824 and NDX 950ish. So you know...and if you care.

The internals have (understandably) taken a turn south and, while they haven't confirmed (the upside) all day, it's worth a mention. They certainly tried to rally but, as Slaino would say, "Thas no real buyahs in tha mahket." I hear ya Dave--if they're gonna bust through triple resistance, SOMEBODY has to step up!

We've got AMAT earnings tonight and, while they've already messed their pants, traders will be paying attention to their verbiage--and so should you. KO, COX, DCN, KEA, SPW and VIA all report tomorrow morning so factor that into your risk profile as well. Finally, YHOO and PEP will both be holding company sponsored meetings in honor of hump day.

I know this is hard, Minyans, and I know it's no fun. Take a deep breath and don't make a bad situation worse by mentally throwing in the towel. In this game, one moment of indiscretion can cause a lifetime full of angst. Stay sharp, remain lucid and, if you're gonna trade, trade to win, baby.

Fare ye well.

< Previous
  • 1
Next >
position in s&p

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 todd@minyanville.com.

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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE