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On the Road Again...


Good luck into the close!


"Funny enough, I was just talking to my friend about that. Our speedometer has melted and as a result it's very hard to see with any degree of accuracy exactly how fast we were going."

--Del Griffith Planes, Trains & Automobiles

The afternoon travel has sorta unraveled as Hoofy has slipped on the loose gravel. The damage is thus far contained--whenever the semis and brokers are green, albeit marginally, an outright melt is unlikely--but the bulls gotta be wonderin' if they'll have to sing "Oops, I did it again" at S&P resistance. Could this be a simple storage of energy before they finally squirt higher? Perhaps, wabbit, perhaps, but while anticipation made Carly Simon happy, few traders ever benefit from it.

That's not to say the bulls are gonna be grasping air as there's still alotta speculative excess out there in the city of critters. Proof positive? Give your MAMA a call (Mammacom (MAMA:NASD) and check out the price action. I'm not commenting on the stock (I would never insult my MAMA), I'm simply noting that 100% price swings aren't necessarily healthy. It's not actionable, per say, just notable. Duly noted.

Xilinx (XLNX:NASD) will paint the tape tonight with their mid-quarter update and that'll do it on the catalyst front until tomorrow morning's ISM services report (exp. 63.5). We've also gotta stay on the watch for the Pee Pee Eye as it's M.I.A. I'm no economist (I'm barely a trader) but I can't imagine this is (woulda been) benign. The big picture has little influence in the near term but at the risk of sparkin' a Snapper, I'll utter the word. Stagflation. The ingredients are all there, it's simply a function of when the pot stirs.

In any event, with the major averages right back where we started yesterday, the plot has definitely thickened. I told Boo not to get excited as long as the financials hold and, as it stands, they're chill. I would note that Citigroup (C:NYSE), which is on the far upper left reaches of my (eight) screens, has been a tad drippy relative to its friends and that bears watching. Nothing to write home about but, then again, I don't check my mail anyway.

Deep breaths on my end as we edge through the week, the launch and the glitch hunt. I think Collins is doing a fantastic job of customer support (way to delegate, Fokker!) so if you've got a question--and its not covered in the FAQ sheet--shoot the kid a mail. We've turned yet another corner in the city of critters and if you're reading this, you've decided to take that step with us (I hope). Thanks much for the support and thanks Team Minyan for the execution. You're only as good as the folks that surround you and I'm thankful for each and every one of 'em.

Have a peaceful night.

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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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