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Random Thoughts

By

Loose lips may sink ships but loose grips allow for a smoother trading ride.

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  • When in doubt, wait it out or, at the very least, reduce the number of positions you have on your sheets. The goal, we know, is to be in a position to use price to your advantage and focus tends to facilitate that.

  • "Merrill Lynch upgraded General Motors (GM) from sell to neutral. First of all, that is impossible. How can you hold something you already sold? The call is based on a list of things. The analyst is making this call based on many things going right and in our view, there is a very low probability of all of them happening." John Succo on today's Buzz (position in GM).

  • Just ask yourself? What would Jack Bauer do if he was in your shoes?

  • This thrust higher this morning wasn't a shocker given Hoofy's ability to hold the fort yesterday.

  • During Boo's probes, watch the breadth and financials for signs of relative slippage. They will speak volumes as to the underlying demand. And if we reverse, expect the semis and biotech to lead the bleed (as a function of their relative underperformance).

  • Don't trade reactive. If you're bullish on upticks and bearish on downticks, you're gonna have a mighty long day.

  • Consistent with my earlier vibe that I wanna focus on fewer cores, I'm likely gonna pare some Golden West puts and United Healthcare calls. I'm not "big" in either, which is my partial motivation for cleaning up my sheets.

  • "The DeMark TD-Sequential sell signal registered last week for the Dow Jones Industrial Average remains active. And it is worth nothing that a TD-Combo sell signal (a more strict count than sequential) may register today if we remain at or above this level." Pepe Depew on today's Buzz.

  • Are you a proud Minyan? Sport some critter gear as we edge into tee-shirt season!

  • Loose lips may sink ships but loose grips allow for a smoother trading ride.

  • The weekly Investor's Intelligence survey finds bullish sentiment dropped to 45.4% from 48.0% while bearish sentiment also declined to 24.8% from 26.0%. Those expecting a correction rose to 28.8% from 26%.

  • Mother Morgan was the first big cap broker to dabble in Red Dye today but has since been joined by Merrill and Goldman. Watch these names as they lead us higher.

  • No, I'm not thrilled with how SunMicro is trading either. Perhaps the "sell the news" crowd needs to punt before the offense can take the field?

  • Is that a flag pattern in the XAU?

  • Don't forget that we've got the Beige Book coming out at 2:00 EST.

  • We've got over 10,000 columns and 50,000 Buzzes in our archives, Minyans, feel free to noodle through 'em.

  • I see alotta unfamiliar names registering for MIM3 and that's alright. I'm quite sure they'll be very familiar by the time we vibe over some mountain S'Mores!


  • R.P.
Position in GDW, UNH, SUNW, GS

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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