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Tear drops on the city
Bad Scooter searching for his groove
Seem like the whole world walking pretty
And Boo can't find the room to move

(Bruce Springsteen)

Well Boss, we FINALLY have a winner for today's trivia question. While most Minyans zigged and guessed Auburn (Bo don't know), longtime Minyan (and all around nice guy) Michael Handel zagged and correctly identified S.M.U. (Eric Dickerson) as Cush's college in Jerry Maguire. It's a shocker that Mike nailed a trivia question that had nothing to do with the Grateful Dead but, nonetheless, he'll be sportin' a spankin' brand new Minyanville tee this summer. Wasabi!

While I cringe to say this (and trigger a sharp move), today has to be the least thrilling day in recent memory. The early attempt to overcome the technical hump was met with supply and, as it stands, the indices continue to flirt with the much anticipated breakout. Hoofy will argue that today was a healthy consolidation of last week's gains and, through objective eyes, I'd have a hard time arguing with him. Still, there are enough warning signs out there to make the upside anything but a lay-up.

There's a tendency when trading to look back and bum about what we coulda, shoulda or woulda done but at the end of the day, that's wasted energy. Trust me: I don't share these thoughts as hypothetical situations, I used to do that a lot (and still do at times). The proper mindset is a continual evolution and each day I learn something new in the market. The ability to understand that and the humility to accept it are necessary if we're to stay in the game.

The series of higher lows in the near term (bullish) and lower highs in the intermediate term (bearish) seem to be on a collision course. The bulls seemingly have the mojo but, once again, this next leg is no gimme. I'm powering down with a handful of cheapie out-of-the-money puts on the sheets (financials) and a paltry leg in the fur. Despite the recent slippage in vol (VIX, VXN, QQV), I continue to feel that it represents a disconnect (if even for a trade). And as always, that's simply one trader's (humble) opinion.

There's a handful of earnings due out before tomorrow's opening bell and we need to appreciate the potential for event risk (both ways). Mea culpa on not discussing the jig in today but despite my sniffage, I haven't picked up a catalyst. Still, it's another ball that we should toss in the air as we continue to juggle the minxy metrics.

More importantly, please do yourself a favor -- turn your considerable energies away from the tape and towards friends and family. Two years ago today, I held my grandfather's hand as he passed and there's not a day that goes by that I don't think of him with a warm heart. He knew how much I loved him -- this I know -- but there are people in our lives that we sometimes take for granted. Don't leave kind words left unsaid... a little effort can go a long way.

Have a peaceful night.
No positions in stocks mentioned.

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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