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Put the Candle Back!


May peace be with you!


"Love is the only thing that can save this poor creature, and I am going to convince him that he is loved even at the cost of my own life. No matter what you hear in there, no matter how cruelly I beg you, no matter how terribly I may scream, do not open this door or you will undo everything I have worked for. Do you understand? DO NOT OPEN THIS DOOR."

Dr. Friedrich von Frankenstein

The afternoon cruise is startin' to bruise as the bears all swarm and the bulls all lose. We've been talking about the litiny of levels and how, one by one, they've given way in the fray. Now, as the break is starting to take, the line is filing behind. Cyclicals, semis, drugs, energy, small caps, trannies, biotechs, brokers--you name it, they're flamin' it. What a hump!

We've got a handful of earnings tonight (Tech Data (TECD:NASD)) and a bevy of Beeks in the morning (retail sales, jobless claims, etc.) but the metric du jour is clearly technical. In the absence of fundamental inputs, either psychology or technical analysis will take the baton. Often, as is the case now, one leads the other and sets the tone. Of course, there's always the structural metric (liquidity) but it's hard to trade what you can't see.

It's getting late and I've got my lazy eye watching the uber-important S&P 1125 zone. More important, after a few straight weeks of eighteen hour days, I'm actually toying with the idea of grabbing a workout and (gasp!) giving myself the night off. One of my goals this year was to be good to others and better to myself and it's about time I started to practice what I preach. Besides, Mr. Collins and I start our one month race to thindom tomorrow and I've gotta get my groove on!

Be smart as we edge to the bell and remember, Minyans, the definition of an investment should never be a trade that moved against you. Good traders know how to make money but great traders know how to take a loss. That's hard to swallow when you're taking your lumps but we've all been there and you can be sure we'll be there again. Tomorrow's a new day, fresh with promise and filled with opportunity, so keep it in perspective.

Have a peaceful night.

No positions in stocks mentioned.

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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