The Dead Bed
Good luck into the bell!
Till the morning comes, it'll do you fine.
Till the morning comes, like a highway sign,
Showing you the way, leaving no doubt,
Of the way on in or the way back out.
The ticks and tocks and flicks and stocks are coming to a head as we edge towards the bell that tolls. I'm not sure there's much to say that hasn't already been covered--the semis are a battlefield at SOX 500, the financials are weighing on the collective mindset (Brazil), sector rotation remains all the rage, retail trades squeezy, the internets are firm and energy is taking a breather. All in all, par for the course as we head into tomorrow's force.
I'm not sure what (if anything) to make of Brazil. If memory serves (where DOES that come from?), we've seen a few "mini-implosions" this past year that raised our ire before fanning the fire. While I'll stop short of sending Fokker south (candle in hand), I'll always err to the side of making sure you see what's going on. This way, you have more data points with which to make an informed decision.
Most of the folks I've spoken with today are pointing to Fed Governor Bernanke's dovish comments earlier today as the latest "positive." While I don't profess to understand how to extrapolate his view (to tomorrow's data), I can't shake the feeling that these guys have become salesmen. It's my view that the Fed is trying to buy time (literally) in an effort to let the economy self-fulfill itself to health. The structural actions (liquidity) and supporting vernacular make for a powerful combination but, at this point, they'd better be right. The hole they're digging is getting deeper by the day.
I've gotta hop onto this call before taking Fokker and Mini-me out for a schnitzel. I'm gonna try and get some vibes out to you tomorrow morning but, either way, Mr. Brodsky will have the con and you'll be in good hands. Happy birthday to my brother Lionel--ya old man--and, for the rest of ye faithful Minyans, please be sure to take a quick read of News and Views after the close. This is what makes the Minyanship special and anything we can do to help one of our own is most appreciated.
Have a peaceful night.
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 firstname.lastname@example.org.
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.
Daily Recap Newsletter