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Hunger Strike!


This is no way to start a week!


The opening bell tolls and another week in Minyanville is underway. In addtion to the flicks and ticks, I think I solved all of my diet issues! Forget Atkins, drop the zone and stop counting calories. You wanna lose weight? Get this stomach bug I've got and you'll never eat again! Oy vey is meir!

Turning our (starving) attention towards the tape, the banks stand out on the sell-side as they've given back almost 1% out of the gate. The frisky BKX 725 level continues to plague the group as they just can't seem to overcome that hurdle. In addition to the money centers, I've also been watching the brokers in general (and GS in particular) for early morning guidance.

Morning breadth is 2 1/2 to 1 negative, the semi-caps are trying to assert some leadership, storage is a bit slippy (negative weekend article on QLGC), energy has an early bid, the VIX held it's 200-day moving average (thus far) and, ex-LOW, retail has yet to hold a bid. Also, I'm being told that there are some good "sell stops" below S&P 835 (if and when).

As a function of discipline, I've made small nibbles (on some shorts) into the opening drek and I'm currently weighing WHERE to place a stop on Friday's late day appendage add. I'm admittedly torn between using the S&P 855 level as a stop (on one leg) vs. using any rally beyond that as an opportunity to build further shorts (into S&P 870). I haven't decided yet but as soon as I do, you know I'll pass it along.

As always, I hope this finds you well.
position in s&p

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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