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Diaper Effect!

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Be happy or pissed after the market closes--we need you to make educated decisions right now.

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As I sit here and watch the action (on television and my screens), there are many thoughts racing through my mind. Like everyone else, I'm awed by the power that's ripping through Baghdad right now and can't imagine what it would be like to be there. It's overwhelming and I pray for the innocent victims who are in harms way. I am also more than a little concerned about potential backlash for our troops and on our soil--in more ways than one.

With regard to the stock market, there's little doubt in my mind that this is a panic. If we turned our screens upside down and the sell side pressure was as intense as the upside action, we'd be discussing the massive capitulation and scanning for defined risk calls. As such, I'm using this time to look out to April (and May) for "underneaths" while staying tight with my intraday exposure.

The wildcard remains investor psychology and the performance anxiety that's driving many decisions. With quarter end looming, many hands are being forced to play an uncomfortable hand. As we've said all week, that's potentially self-fulfilling in the near term but creates a whole new wave of supply when the music stops. When will it stop? I can't answer that question, my friends--I wish I could.

Deep breaths--lucidity is needed now more than ever. I'll be back.
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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 todd@minyanville.com.

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.

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