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Sharp as a Marble


That's what I'M talking about!


The diplomatic window has officially closed and traders have lined up for the widely anticipated war rally. Perception is reality on Wall Street and, as we discussed, if enough people believe the train is leaving the station, they'll likely hop the turnstiles to get on board. As you know, I'm not as optimistic as some of my trading brethren but I respect the powerful fear (of missing).

The action (thus far) is whippy, thin and fast. Reactive traders are following the tape higher as conventional wisdom swirls around the notion that a war--with or without the U.N--will yield clarity. The tenor of the tape certainly seems to reflect that view and almost every tangible tell is pointing north. The semis surged from the get go, the banks reversed higher, the dollar has caught a bid, treasuries have come under pressure and the internals are firmly positive.

I've been eyeing S&P 855 and NDX 1055 as upside levels and the techs have already gotten through there. I'm attempting to remove emotion from my process and use price to my advantage but this feeding frenzy is vicious as the buyers chase performance. I've nibbled on some defined risk April downsides but I'm admittedly trading smaller than usual and keeping my right hand up. It's important to listen to the market but we must also appreciate the potential for her to change moods on a dime.

In Minyanville news, the raffle email is now up and running so if you'd like to participate in our fantastic charity raffle, please contact While we're all stressed and frazzled by the events in the world, it's important to remember the children and do our part for charity. Besides, one lucky Minyan is gonna walk away from Oscar night a very happy camper.

I'll be back.

position qqq, spy

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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