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Random Thoughts

By

Hey Minyans--what's the path of maximum frustration?

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  • The intraday stochastics have begun to work off the daily overbought reading while the futes hold their bid and the internals hang tough.

  • Hey Tony--trust me, being in Florida isn't all it's cracked up to be. YOU try running eight screens of information on two paltry screens!

  • In a study investigating pain tolerance, it was found that the same pain was perceived as being almost twice as bad during certain times of the day, most notably in the morning. Just after lunchtime, the pain seemed to be far more bearable. As far as I know, this WASN'T a study of S&P traders in the crowd!

  • Remember to watch Citigroup if/when it gets to 34 (resistance).

  • As a point of reference, my cost on the 200 S&P puts is 7 1/2ish.

  • I continue to see size short covering in the street.

  • 50 percent or more of individuals in Western society are overweight.

  • There's a story going around the pits that there's a massive buy program in the market. I have no insight as to the validity but I know traders are talking it up.

  • When a dolphin is sick or injured, its cries of distress summon immediate aid from other dolphins, who try to support it to the surface so that it can breathe.

  • It feels like there's one more push higher--watch for the relative strength of the financials if/when that happens.

  • YES, I'm aware that eyeing one more downside trade could throw a wrench in the whole Shim Sham thesis. Still, I'll always be forthright with the readership and communicate my honest read--for better or for worse.

  • As it stands, my flight still hasn't been cleared for takeoff. What a mess!

  • Expiration looms Friday and the impact is typically felt in the days preceding the actual expiry. When dealers (initially) sell customers their puts, they short the underlying stock as a hedge. As the market rallies, those same dealers have to cover stock to hedge their delta. Is that contributing to the firmness? I believe so--but remember, it works on the downside too. If (big if) we turn lower, it'll pick up steam.

  • 19.8 inches of snow in Central Park. Is that a Jewish 19.8 inches?

  • Sometimes you're gonna be the windshield and sometimes you're gonna be the bug. Right Ed?

  • If the best fades are the toughest fade, this is setting up as a pretty good fade! Time, however, is not on our side (February paper).

  • Who eats dinner at 4:30 pm? Seriously!
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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.

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