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Random Thoughts Part 2


EVERYONE seems to be calling my name today


  • There are a LOT of technicians focusing on today's close as an important "omen."

  • I know you're busy, but make sure you take the time to tell everyone you love "happy holidays."

  • The 200-day moving average in United Health Care (UNH:NYSE) is 87.55.

  • Keep your eyes peeled for pin risk.

  • Did anybody ever watch "Charles in Charge?" Man, that Scott Baio made out like a bandit, eh?

  • The volume pace today is running well ahead of the last week or so.

  • I've been making scaled, disciplined sales of some of my put exposure (vs. the recent "rolls"). While it remains to be seen if the bear thesis is correct, the mechanics of the swing dictate this course of action.

  • As it stands, the tape feels like it's got an underlying bid -- but most everyone I speak with is expecting to see Snapper.

  • The BKX (Bank Index) and SOX stochastics have turned from opposite sides of the field, looked up and yelled "hello!"

  • Still no VIX jig. Man -- this is either a monster opportunity or a telling sign that times have changed. Remember, it's always a new paradigm -- until it's not.

  • If you don't employ the proper scales entering a trade, you won't be able to scale out effectively.

  • Is this a healthy pause or part of a topping process? It's alright to have a bias, but it's important to allow for a margin of error in your approach.

  • The market has acted fabu but I can't shake the feeling that EVERYONE IS BULLISH.

  • Nasdaq breadth turns negative. It's early... but it's interesting.

  • When's the last time you had a jelly doughnut?

  • In six months, when you look back at April 15, 2003, will you be happy with your decision-making process?

  • What's the difference between being early and being wrong? Your time horizon.

  • The FTSE never confirmed the upside this morning.

  • While I was walking home last night (at 9 p.m.), I noticed how beautiful it was outside -- and I failed to enjoy a single minute of it.

  • Wire reports are saying the SARS virus has made its way to Vegas. The gaming stocks seem to have heard that too.

  • As it stands (and as of this post), the pattern of lower highs (since November) is still intact (S&P, NDX, INDU, SOX).

  • I'm looking at that bear costume appendage (I currently have two legs in).
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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

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