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Sniffy the Pup


Remember, the first half hour is always noisy!


The opening bell tolls and Hump Day in Minyanville has officially begun. My early trading eyes are fluttering between the French CAC (tickling October lows), the S&P (820 is a level), the banks and semis (standing their early ground), the retailers (not catching jig off of KSS), the breadth (3:2 negative in the NYSE, 4:3 on the Nazz) and the cyclicals (battleground).

My initial inclination was to fade (read: buy) the opening for a quick schnitz but I didn't pull the trigger. As discussed, the goal is to find the "easier" trade and I didn't sense a compelling disconnect. That, of course, doesn't mean we can't lift--it just means I chose not to risk my hard earned capital on that particular trade.

There are several ways to skin a Minx and rather than try and catch every nuance, I'm taking a deep breath and watching for now. If we rally, I plan on buying back some April puts in the financials, semis and industrials. So you know.--and just one traders (humble) opinion.

Gotta hop.

position in smh

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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