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Boo's Traveler

By

May peace be with you!

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It's a state of affairs and a state of emotions
The kind of thing that you must understand
I tell you one thing; you tell me another
We walk away, maybe then shake hands


(Blues Traveler)


Pop Quiz: What is the least desirable way to spend an afternoon? A) On the conference call with lawyers (discussing Monday's roll-out) B) Getting your fingernails pulled out with a pair of pliers C) Watching Fokker fumble his way through a "Mikey style" series of phone calls with the girl he met last night D) Listening to Dan Meehan rationalize the A-Rod trade by chanting "Norv Turner". If you guessed A, congratulations! Johnny, tell 'em what they've won!

The IBM (IBM:NYSE) ruling that they must make back pension payments (of up to $6 billion) happened to jibe with the repeated (unsuccessful) acne attempts through S&P 1160. While big blue may have turned the screws, the crowded herd of anticipators clearly exacerbated the volatility. There's little doubt that folks are "set up" for a breakout. The only question is whether their wish (and opportunity to sell) is granted.

The asset class disco dance is in full swing as the dollar and crude are a percent higher and gold (silver) is down the same. The intriguing inverse correlation between the greenback and equities continues to raise eyebrows, although it appears as if the final minxy tally will be muted. All in all, today looks like a push, although the breadth and 'give back' in the brokers are marginal negatives.

Applied Materials (AMAT:NASD) will paint the tape after the close and Beeks will swing by tomorrow morning with the initial jobless claims (exp. 355k), continuing claims (exp. 3105k), leading indicators (exp. .5%) and the Philly cheese steak (exp. 35). That information will battle for metric supremacy against the continued technical backdrop and the ever-lovin' psychology. And, of course, all of this must be digested with a sprinkle of the expiration exacerbation. Noice!

I'm gonna scoot so I can post this bad boy before the bell rings. There's surely a lot of balls in the air right now--for all of us--but it's important to try and enjoy the journey as we eye the destination. Easier said than done, I know, but the quest of the quest is the quest itself. Half the reason I write it so often is to remind myself to slow down and appreciate the time we have. For as my grandfather used to say so often, it is the most precious of commodities.

Have a peaceful night.


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 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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