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Random Thoughts


If you're stressing over every single tick, you're likely positioned too big.


  • The tape is particularly thin today in front of the long holiday weekend.

  • The dollar has edged marginally higher.

  • Defined risk, be it premium or stop levels, allows you to remove emotion from the trading process.

  • Adam Sandler's earlier flicks were awesome... but the last few just didn't do it for me.

  • Jason at has some nice stats regarding the holiday bias.

  • A lot of macro hedgies are focusing on today's noon release of the Philly Fed.

  • The weekly bull/bear: bulls 50.6% (vs. 51.1% last week), bears 30.3% (vs. 31.1%), correction 19.1% (vs. 17.8%).

  • "Straight down" was too "easy" this morning. If (big if) the market is to close lower, it needed to flutter higher first.

  • Do you remember those shiny Adidas shorts we used to wear at camp?

  • Jam Master Jay.

  • I sold 10,000 of the underlying QQQ in the real-time gamma trade we've been discussing. As we edge closer to the closing bell, the April 26 puts are worthless and I'm net long QQQ. Hence, the parceling out of the underlying.

  • Of all the sports I played as a kid, wrestling required the most endurance.

  • It's interesting (and a bit disconcerting) that I haven't heard anybody discuss "weekend risk" for the first time in months.

  • DXY 99 is a "higher low" that the dollar bulls want to hold.

  • Buying low (when you can) beats the pants off buying high (when you have to).

  • Seems as if some money is rotating out of the consumer group as well.

  • Stocks and bonds decoupled, eh?

  • Was Atkins Jewish?
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position in qqq

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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