More Random Thoughts
The VIX is still down--no fear!
- For purposes of today's discussion, S&P 840ish was the five day uptrend--it's officially violated and this initial sell pressure is related to technical stops in the market.
- Tony put up a great SOX piece this afternoon.
- Obviously, I meant no disrespect to Earl Anthony in my previous Random Thoughts--I had no idea he passed away. I was simply looking to reference his excellence.
- The chatter on the dollar is beginning to get "louder" on trading desks.
- Thus far, there's been sellers above but buyers below.
- I watched Liar Liar last night--great flick!
- This afternoon at Morgan's semi conference: DELL, NVDA, ALTR, WDC, IM, SANM, SMTC (among others)
- The relative outpeformance of the S&P (vs. the NDX) is evident in the price action, the breadth (negative in the N's) and the main tells (BKX vs. SOX). Last week, I switched my trading eyes from S's to N's on the short side. It was an early feel, but the disparity is starting to become more pronounced.
- Neil Glassman brought his own bowling ball yesterday and his bowling shirt has a big, script "L" on it. Tell Squiggy!
- Tomorrow's earnings: BJ, COST, DISH, MSO, OMX before the opening, AZO, KSS, HOTT after the close.
- You're never long enough when the market rallies and always too long when it fails--that's just what it is.
- Zoe walked up to me this morning with a kitty litter all over her nose and I didn't have the heart to tell her how foolish she looked.
- GM prodcution numbers on the tape.
- Big negative reversal in the banks.
- If you can identify the easy trade each day--or each week--you'll take a lot of pressure off yourself. Think fungo, not upper deck.
- The cannibal/clown blurb is my favorite joke of all time.
- When I carry overnight risk, I prefer if it's defined in some capacity (options). This environment has gap risk both ways!
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 firstname.lastname@example.org.
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