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Random Thoughts

By

My bullish brethren know exactly where the stops are!

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  • Scattered customers have sold upwards of 80,000 QQQ puts today.

  • The buying I saw during that spurt was all futures related (S&P).

  • If a gnome on a knoll had a gnu with a gnat, would it be gnice?

  • I've seen scattered buying of the Semiconductor HOLDRs (SMH:Amex) but, thus far, the Semiconductor Index (SOX) is underperforming.

  • This tape is thin and gappy -- scarily thin and scarily gappy.

  • Oops -- as I write, I just say a buyer of 35,000 QQQ June 26 puts. Duke & Duke must be psyched.

  • This tape is more dizzying that Daisy in a butterscotch thong!

  • Does Saddam matter anymore?

  • The brokers are trading (relatively) heavy. If (big if) the tape turns lower, look for these to lead the way.

  • When you think of garbage, think of Akeem!

  • The S&P breadth is better than the NDX breadth.

  • There sure are a lot of scared traders out there today (both ways).

  • The DXY (dollar index) is holding steady down 1%.

  • The buyers are always higher and the sellers are always lower. Reactive traders abound.

  • Watch eBay (EBAY:Nasdaq) here -- if they can't turn this bad boy higher, it could weigh on tech sentiment.

  • The one and only Nipples Neuberger swung by (sans his full-length shearling coat) to say hi!

  • N-V-T-S nuts.

  • Eric Estrada really dropped the ball after CHiPs.

  • Straight down was too "easy." If (big if) we're to spill, the Minx had to stop out a chunk of short exposure.

  • Evidently, there was a rather meaty buy program that hit the market early this morning (catching the shorts and spiking the tape).

  • Tony did some great work today illustrating our current juncture.

  • Europe is up marginally across the board.

  • Is everybody in the world using S&P 905 and NDX 1100 as fish-or-cut-bait levels? And if so, is it too scripted?

  • Trading "not to lose" is the quickest way to lose money.

  • Good luck Elmer.
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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 todd@minyanville.com.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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