Keep an eye out for the economic releases!
Holy Guacamole! George Hill--outa nowhere!--lobs in a $15,000 even bid for the charity auction! My goodness--in the immortal words of Woody Woodpecker--I'm gonna love him and squeeze him and name him George! Wasabi G-Man, you're awesome!
A flattish opening and the NYSE breadth is 2:1 positive (early) while the banks are up (but approaching resistance). Deja Vu, Boo, the retailers are once again lagging and that warrants a mention. The semis are softer as well and that's interesting.
In the vein of total honesty, I added some shorts into the green sea on the opening (pure trade) and, as such, I'm gonna slip that second leg back in my bear costume (makes 50% conviction on the short side). My risk is defined (via my stop) and the games have begun.
Quick blurb to pass along--there's a camp out there that seems to think Dubya is gonna strike this weekend. I don't necessarily subscribe to that view--I think if we act without U.N support the market gets smoked--but I've heard it from a few places. Something about "moon cover" for our soldiers.
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 email@example.com.
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