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Spin the Bottle


Oh, Toddo!


Walked out this morning, don't believe what I saw
A hundred billion bottles washed up on the shore
Seems I'm not alone at being alone
A hundred billion castaways looking for a home


Never a dull moment, eh? Just when you thought I had a handle on trading...and the critters...and the content...and the diet... and next week's uber-big west coast Minyan meeting, ol' reliable catches a nasty upper respiratory infection. Feline Phoebe has never taken ill before but she was in pretty lousy shape this morning. As such, I had to run her to the vet and make sure she got the attention she deserves. There's nothing worse than a pouty pussy!

Speaking of sour pusses, the Minx has turned yesterday's clown upside down as a combination of a stronger PPI, S&P resistance and sloppy brokerage action is weighing on the tape. We bantered about the bounce/fail scenario yesterday and while S&P 1125 (NDX 1430) is an obvious resistance, it feels like this morning's lethargy has caught some cats nappin'.

Scanning the globe, the dollar index is sagging (-1%) as a function of the Yen strength. Europe has also taken a fresh leg lower (no follow through), led by the German DAX (-1.5%). The metals are firmer (PPI), led once more by the outperformance of silver. Finally, crude has coughed back half of a percent although, at $38 bones per barrel, that's nary a blip.

With regard to stateside equities, we're probing the gaps created by yesterday's opening and, if filled, the recent lows come back into play (that was quick!). While Snapper could emerge, I'm eyeing the breadth and financials as daily tells to show me the way (both pointing lower thus far). As a somewhat random aside, the Burned Razor thesis that we discussed in October has thus far played out to a tee. I shoulda respected my gut a bit more!

As always, I hope this finds you well.

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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