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The Tortoise and the Hair

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Good luck into the close!

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I walk these streets, a loaded six string on my back
I play for keeps, 'cause I might not make it back
I been everywhere, still I'm standing tall
I've seen a million faces an I've rocked them all


(Bon Jovi)


The afternoon session has left an impression as the critters work through their minxy obsession. The tone was decidedly somber throughout the hump as traders digested the steel wheels (AA:NYSE), geopolitical concerns and some pre-avalanche jitters. Now the posturing has picked up in pace and as we head home to finish the race.

From an "inside out" perspective, the tenor of today's tape steadily inched towards a more constructive posture until BAMN! the spike hit. Breadth (which was 2:1 negative) balanced, the semis tested SOX 500 (and bounced), General Electric (GE:NYSE) held its bid and then, outa nowhere, chatter of a "major" announcement from Washington boot strapped the bears. I'll tell ya, the market volatility (as a function of rumors) underscores the "trading mentality" in today's tape. Not a conversation for right here, right now, but something to file away in the back of your keppe.

Yahoo! (YHOO:NASD), Research in Motion (RIMM:NASD) and Genentech (DNA:NYSE) highlight tonight's parade and that'll likely shape the clay for tomorrow's fray. Remember, it's gonna be uber-thin as we edge toward the bunnies so respect the potential for volatility as you craft your risk profile. This is a time for family and friends--the last thing you wanna do is lay the big 'ol goose egg.

I just got so busy--and the market is moving so fast--that I've now had to go back and restart this column three times. I've also gotta scoot and meet Professor Succo as he's giving me a lift to the airport for my flight to Rubyville. As such, lemme please hop so I can tie up some loose ends, feed the critters and take a couple of breaths before hitting the door. Thanks kindly for understanding and I'll see you bright eyed and bushy tailed on Monday!

May peace be with you.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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