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What's the Deal?


Auction off a day with Tony and THEN you'll get my attention!


Since it cost a lot to win
and even more to lose
You and me bound to spend some time
wondering what to choose

(Grateful Dead)

It's tempting, right? Every time the ticks start flickering to the upside, visions of Snapper dance in my head also! The problem--and yes, this is subject to change--is that he internals don't improve with the upticks. In fact, every lift we've had in the last few weeks seems to be tied to the alleviation of an oversold condition and NOT true underlying demand. I mean, I've been sniffin for gorillas and, thus far, I've come up with bananas.

Obviously, ONE of these lifts is gonna stick it to the bears and our job dictates that we identify which one it is. I know I've been eyeing S&P 810 for a while and I'm conscious that WHEN it's time to buy 'em, there will likely be many reasons not to. The news is always best at trading tops and always worst at trading bottoms. THAT, my friend, is why our goal is to sell hope and buy despair.

My issue--well, one of my issues anyway--is the orderly nature of this selling. It's either very bullish (resiliency) or overtly bearish (complacency). With my big picture tint, however, the tie-breaker goes to the bears and I'm erring to the side of caution. Give me some swift selling, a VIX spike and "bid wanted" situations and I'll stand up and take notice (not to mention stock). Until then, I'm dancin' in the streets (both ways).

BRCD, FOX, NWS, TMPW and a host of other companies will be reporting tonight while AIG (already messed), BHI, CPN, CPB, HAS and ODP will release their numbers tomorrow before the bell. Lest we forget, Monsieur Beeks will swing by with Retail Sales (exp. .6%, less autos .5%) and Initial jobless claims (exp. 390K) so stay on your toes and factor these inputs into your trading mix.

Before I go, I wanted to briefly clue you in on the upcoming charity auction. The Ruby Foundation will be teaming up with Jacob's Cure to auction off a day "in" Minyanville. Included in this package will be a full day sitting by my side, an all-out sashimi fest, an opportunity to spend some time on the floor of the exchange, a back-rub from Fokker (optional), a lifetime membership to Minyanville and a bevy of other goodies (TBA). We're still piecing together the details and bids are NOT YET being accepted--but it's out there and coming soon! Best of all--it all goes to charity and when that happens, everybody's a winner!

Good luck into the home stretch!

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.

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