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.

Bears on the Run


One of these days, Toddo, I'm gonna learn you a lesson!


Why don't you all f-fade away
And don't try to dig what we all s-s-say
I'm not trying to cause a b-big s-s-sensation
I'm just talking 'bout my g-g-generation

(The WHO)

Holy melt up Hoofy! It's been a long time since you shook your bones and you've certainly got everyone's attention now. The question on every Minyan's mind, however, is whether this is the beginning of something beautiful or a simple (yet vicious) head-fake. How we approach these green acres will go a long way in defining our success so, please, lucid decisions are a must.

While this is surely an impressive showing from the bulls, I (humbly) believe that this is a counter-trend move. The most vicious rallies occur in a bear market and I there's no debating that today's move is vicious. The question I'm wrangling with is one of timing. Can this last a while and, more importantly, what type of price points will potentially come into play?

If we manage to bust through S&P 820, there is additional resistance in the S&P 830-840 zone. Further, the QQQ is bumping up against its trendline (from January) and I'm monitoring that development as well. While the largest issues in the market remain unknown, I find myself scrunching my nose and keeping my right hand firmly by my chin.

I'm gonna slip one leg into my bear costume (makes 25% conviction on the short side) and define my risk via stops and/or option premium. What type of stop am I eyeing? Somewhere in the S&P 830's I would think--I'm still walking through the charts. I'm not sure if this is today's business--breadth is strong and our tells are pointing to the north--but, right or wrong, that's what I'm thinking. So you know.

Apologies on the lag in posts---my systems crashed again (twice in two days) and take me at my word, nobody is more upset about it than I am. Gotta hop.
< Previous
  • 1
Next >
position in qqq

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos