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Doorman Toddo

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Now you wanna play nice Saddam?

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We chased our pleasures here
Dug our treasures there
But can you still recall the time we cried
Break on through to the other side


(The Doors)

Walking through my morning technicals, I've picked up first resistance in the S&P at 822ish, a downtrend line at S&P 830ish and more formidable resistance at S&P 840 (I've got a 21-day chart up). In the NDX, the downtrend comes into play at 975ish which is, more or less, the level of contention on the upside.

My eyes continue to migrate between Citigroup, Microsoft, the internals, and the intraday stochastics. The longer term stuff is still coiled--but those guides aren't timers (as we know). They act firm (thus far) but, with so many unknowns in front of us, we're FAR from out of the woods. In all honesty, I would have thought we'd see some testage on the downside by now (and we still might).

Despite the traction in the semis and DELL, the Nazz hasn't exhibited much jig (relative to the old school) and this could be signaling my cousin's much anticipated S's over N's trade. Hey Richard--that's some head of hair!

I'm not really sure what we're gonna get from Franz but I will say that trading on every stutter is a mistake. The tape is jittery and reactive but that doesn't mean you have to be! Craft a plan, attempt to use prices to your advantage and remove emotion from the mix--it's the enemy when trading.

Shoes off, heads up, spirits high--and let's end this week with some jingle in our jeans!

positions in s&p, msft

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.

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