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Jeepers Creepers!

By

Hey Snoop, you like that image don't ya?

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If you twist and turn away
If you tear yourself in two again
If I could, yes I would
If I could, I would -- let it go


(U2)

It's been a fairly hairy morning in the city of critters and my inbox is overflowing. The Minyans are cheering the arrival of our new professors, traders are opining on the state of the tape... and it seems that EVERYONE wants a picture of Daisy in her little school girl outfit. Fellas -- she's a metaphorical cartoon... RELAX!

The fluxy Minx seemingly stopped trading for a bit as she attempted to tickle S&P 910. This is a tricky juncture as the S's test resistance, the NDX holds support and we've got a shvitzload of economic data due tomorrow morning. As if there's not enough spice in our mix, IBM (IBM:NYSE) is chatting at lunch (nothing crazy, but watch it as a tell), the banks have quietly firmed and retail (along with the industrials) continue to act soft. Are we having fun yet?

I've been hearing chatter of asset alligators and while I can't confirm that they're sneakin' around, the action in the S&P feels as if they could be. That's not actionable, per se, but as with any input, it's something to factor into our process. Consistent with that thought, the internals have also found some footing and, as it stands, they're edging back towards a more constructive posture.

I'd like to reiterate the importance of identifying an actionable time frame in your approach. For instance, if you're looking out to June (or longer), the tick by tick action shouldn't be a constant focus. The goal, as always, is to (attempt to) use prices to your advantage (either way). The near term is emotional, whippy and reactive. Don't get sucked into that vacuum, my friends, or you'll end up needing corks on your forks.

Meanwhile, don't tell Fokker but he's doing a fantastic job lately (mush!). I know he's looking forward to his Minyan debut tomorrow and I KNOW that he won't let us down. He's also been collaborating with Charlotte-Anne on the morning round-ups too (isn't she great?) and we welcome your feedback. Our readers are our lifeline and, as you know, we aim to please.

As always, I hope this finds you well.

position in spy, qqq

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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