Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Random Thoughts

By

...today's bounce has an obligatory feel to it, with tech and financials begrudgingly higher.

PrintPRINT

Greetings from Anaheim, California, where I just concluded my keynote at the TD-Ameritrade APEX live event. I'll tell ya, Minyans, while I've never craved the spotlight, it was great to share vibes with 1200 newbie Minyans in the Marriot Grand Ballroom. There's a real thirst for knowledge out there and the Minyan mission resonated from soup to nuts. That, along with Hoofy and Boo teaming up with Mickey and Minnie, have been the highlights of this trip.

Some top line (away from the turret) observations:

  • From what I can tell, today's bounce has an obligatory feel to it, with tech and financials begrudgingly higher. The initial (out of the gate) probe lower was intuitive after yesterday's carnage and, perhaps, this bounce is equally anticipated.

  • As discussed this morning, a one day wash may be wishful thinking and while I nibbled a bit (SunMicro, Goldenstar)-and sold some financial puts into the vol pop-my sense is that rallies can be sold until Hoofy mounts our many trendlines (former support, current resistance).

  • Based on anecdotal tire kicking, it sure feels like most people bought-not sold-the recent dip. Remember, the indices suffered a mere pimple in the context of the broader complexion. 3%? Keep it in perspective as we collectively find our way.

  • The markets are a leading indicator in a finance based, asset-dependent economy. So while there may not be a "fundamental shift in the economic outlook," I would venture to guess that there would be some collateral damage if equities continued to slip.

  • Many thanks to Goldman Sachs for their upgrade of SunMicro this morning. Funny how it happened just as the stock tickled the sexy six level, eh?

  • Note to Macke: Please remove your chew cup and the empty Sun Chip wrapper from my office before you leave. I love you brother but cleanliness is next to godliness.

  • I'm gonna jimmy to LAX later tonight for my redeye back to the saddle. I touch down in the early morning and should be back in the saddle by the opening. I've got a heavy docket in store, including a mindmeld packed afternoon. Jeez, I sure hope I've got enough juice left in the tank to attend our monthly Rolling Bones Minyanfest at the Red Lion (area Minyans are welcome to attend!)

  • Good luck Minyans-and just remember that your net worth and self-worth are mutually exclusive endeavors!


R.P.

< Previous
  • 1
Next >
Positions in SUNW, GSS, financials

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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE