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Closing Vibes

By

Hope is not a viable investment vehicle.

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Is it getting better
Or do you feel the same
Will it make it easier on you now
You got someone to blame


(U2)

The true and tried gotta flipped and fried as Minx slipped in the crimson tide. Folks are pointing to Nortel (NT:NYSE), rate worries, technical resistance--and they all likely played a part. The more disconcerting notion is that the liquidity induced carry trade is starting to fade (which would help explain the smelting). If that's the case, cookie, we better hold onto our helmets.

With my requisite furry worry outa the way, I will again remind Minyans that we're simply approaching the bottom end of the trading band. Hoofy will argue that the tape has held the range despite Boo's double barrel can of whoop ass (banks and semis). Further, he'll point to tight corporates and stretched sentiment in fixed income land as potential signs of hope.

Me? I've got a full overnight plate so lemme take this opportunity to wish ye faithful well. Apologies for the marble sharpness today but, as discussed, I've got a different fish to fry. This too shall pass, a wise man once said, and I've learned from experience that he is often proved correct.

G'night.


R.P.

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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 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.

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