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One Way Sally!

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Can't we try just a little bit harder? Couldn't we try just a little bit more?

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File this under the "so you know" department. The flow this morning, by and large, has been entirely skewed to the buy side. I know I may be beating a dead bear here but with some big dogs nearing resistance (BKX, SPX, WMT, C), I'd be remiss if I didn't pass it along. We saw similar flow during the bull trap Wednesday and, while Hoofy has a spark to point to now (economic data), we must acknowledge that there are other crosscurrents affecting equities.

I've got an S&P 28 day chart up (SPX (index) GIP 28 on Bloomie) and it's worth a look if you can. The pause at technical resistance (first try) made sense--now we'll see if the bulls can push 'em through or the bears will stand their ground in front of the weekend. Again, my guys are telling me that the macros are long and trying to break on through--that's bullish if they can, obviously, but you'll have a whole heckuva lotta trapped longs if they can't.

Deep breath, please, as it's emotionally charged out there--it's imperative that we remove emotion from the mix. As Michael Jordon so eloquently said yesterday, we're bound to fail at times--that's what makes us successful. It's not fun, but it's part of the game and our job, as always, is to manage the risk.

Meanwhile, I stand corrected. Mr. Wells informs me that his father goes by that name and his proper Minyan moniker is "Geoff." Sorry cookie--but either way, you're still the main man right now with your high bid of $15,500 for the day in Minyanville by my side--trading, fading and schvitzing! Please hurry--Snappers been practicing his sax all morning and it's starting to give me a headache!

I'll be back.

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 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.

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