Hope for the best but prepare for the worst!
- For purposes of our discussion, I don't believe the issue is whether or not Iraq disarmed--they didn't. I believe THE issue (for the markets) is whether the U.S and U.N can get on the same page.
- Watch the dollar very carefully--if it begins to pick up steam on the sell side, equities will likely follow.
- I cannot believe how my responses I got to the Walker: Texas Ranger question yesterday. I didn't know that it was actually a show--I just thought it was a series of commercials!
- S&P 806-810 is important as they represent the intraday low of both today and February 13th.
- The breadth is still negative.
- The semis continue to act heavy and if the market slips, they'll likely underperform. In the interest of full disclosure, I unwound my position into this morning's weakness.
- In an attempt to maintain balance, I forced myself to take a break and have dinner with some old friends last night. As I passed the Empire State Building on the way home, I found myself staring at the landmark and appreciating it's beauty. I've learned to appreciate the simple things about NYC.
- The brokers, as a group, have a bid (thus far) today. XBD 360 (broker index) is analogous to BKX 700. FYI.
- For purposes of my metaphorical imagery, it's been a long time since I've been naked. Do I think that a "good" bottom has been put in? No...but I respect the vicious crosscurrents and am alright with my bare bear.
- Warning Scott Sklar: The keyboard is mightier than the sword. Keep calling me bagel boy--I dare you!
- Blix saying inspectors need "weeks." From listening to Duyba last night, it doesn't seem like that's an option.
- Somebody just bought 30,000 QQQ March 25 calls. Hope springs eternal.
- If you make a conscious decision to do less, you can't look back and wish you did more.
- Kimbily Dispigna's swinging by for some (back-to-back) Sushi. Hey Fokker--sanitize the office. Chop chop!
- Keaton once said, "I don't believe in God, but I'm afraid of him." Well I believe in God, and the only thing that scares me is Keyser Soze.
- March Madness Minyanfest in NYC on the 23rd! Please RSVP to Fokker@Minyanville.com. Wasabi!
- Hey cousin Richard--was Intel the beginning of the reversion trade of S's over N's?
- These are, by far, the trippiest trading sessions I've ever seen.
- Carmelo Anthony baby! Go 'Cuse!
- I'm officially fried and looking forward to the Friday night faceplant.
- Gold AND the dollar getting hit...hmm.
- Take the time to really enjoy your weekend--you've surely earned it.
- A macro walked into the S&P futures pit and bought a couple hundred contracts--and the market popped three points. It's THAT thin.
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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