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Moon Over Minyanville

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The toughest fades are the hardest fades? Gulp!

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"I sometimes catch myself looking up at the moon, remembering the changes of fortune in our long voyage, thinking of the thousands of people who worked to bring the three of us home. I look up at the moon, and wonder: When will we be going back? And who will that be?"

--Jim Lovell, Apollo 13



Houston, we have a winner! Rhinestone cowboy (and all around good guy) Brendon O'Brien was the first Minyan (out of many) to nail the answer to today's trivia. Texas, naturally, is the only state that allows absentee ballots from outer space such that astronauts can exercise their constitutional right to vote. It's unclear, as of now, how high Brendon likes to fly but suffice to say that when he does,he'll be sporting a Minyanville tee that's out of this world!

Back IN this world (sorta), the Minx is trying to fly all by herself. After a morning of lethargic action that failed to motivate the sellers, Hoofy is giving resistance a probe and sniffing out the will of the bears. While we're still under resistance and the breadth is negative, the leadership sectors warrant a mention. The semis and biotechs are cheerleading the "N's over the S's" while the brokers have more acne than a 15 year old French Fokker (with webbed feet).

Is Boo fighting a losing battle? Or is this how he's supposed to feel as we bump our keppes on resistance (no fear, low vol, bubbly psychology and few, if any, of his ursine pals around). They certainly get up easier than they go down and while that's gonna pose an eventual problem (complacency, dip shtick), nobody seems to care just yet. Keep in mind, please, that expirations tend to exacerbate volatility (both ways) and we're two days away from the February put funeral.

On the macro scene, gold giving back a finski (retesting $410), the dollar is slowly getting some greenback, rude crude is up a percent and the long end of the bond market is firm. All in all, it's been a relatively quiet session but I think we all sense the tension in the air. There's a lot of grunts and punts behind the scenes as bets are being placed on the next leg. I honestly see both sides of the argument (trapped longs vs. leadership from the financials) and am content doing a bit less for the time being.

I've got an early afternoon conference call that shouldn't take that long so I'm planning (hoping) on getting out another post to ye faithful Minyans. I'll be honest, I'm looking forward to this new Buzz & Banter tool as much as you are as it'll allow for a lot quicker and to-the-points pings (while otherwise occupied). A few more days, Minyans, and you'll witness an amazing transformation of the city of critters. In the immortal words of Snoop Dogg, "It's aaaaaaaall good."

As always, I hope this finds you well.
positions in qqq.

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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