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Random Thoughts

By

That "know thyself" discipline that has helped me numerous times through the years.

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  • We spoke of smoke a few weeks back and the mainstream media is beginning to sniff the same.

  • The Minx popped out of the gate and, as a function of discipline, I made some partial sales on my "overage" in the XAU, which was up 2%, and select drillers. I'm still there with my defined risk tries--and nibbled anew--as both complexes dabble into Red Dye

  • I opined on the Buzz that a probe lower (after the Art Carnage we've witnessed) was intuitive and the sooner we saw it, the higher the odds that Hoofy will flex some late day strength.

  • One of my oldest "tricks of the trade" is to watch our mainstay tells during "counter-trend" moves. Those include the breadth (currently 9:5), the financials (slightly green) and the oversold semis (pretty in pink).

  • This was my personal headline in 2003.

  • It was only a matter of time before we started bartering humans for oil.

  • Given tomorrow's expiration, we need to be uber-conscious of afternoon whippage.

  • How do you do that? Defined risk or smaller size.

  • It's hard to believe that, after tomorrow, June will be the front month. Time keeps on slippin', slippin', slippin' into the future.

  • Note the long bond futes as they giggle up 28 ticks.

  • Watching the dollar slip, I can't help but wonder if Boom Boom saw "the other side of the trade" this past week and decided that it's no longer a viable option. The real downside, in my opinion, will arrive when foreigners take that decision making process away from our central bank.

  • Three folks I most certainly will NOT invite to my next cocktail party.

  • Note the Snapper attempt in the homies. HGX 248ish (the previous '06 lows) will serve as initial resistance.

  • In a prepared testimony for delivery to the Senate Banking Committee, U.S. Treasury Secretary John Snow said it will take cooperation around the world to wind down global economic imbalances, according to Reuters. Snow, testifying on Treasury's latest report on global foreign exchange, repeated the strong dollar policy and said it is a matter of extreme urgency that immediately improve the yuan's flexibility, according to news reports. Ironically, after repeating the administration's stance in favor of a strong dollar, the dollar immediately turned lower hitting the lows of the day at 84.36 for the US Dollar Index.

  • Jeff Saut highlighted the water plays while delivering a savvy keynote at MIM2. As usual, he was spot on although this is getting a little out of hand!

  • My mama taught me that the difference between saying something and doing something is all the difference in the world. As I'm a true American (and a good son), I'd be more than happy to make the introduction so they can have a heart-to-heart.

  • Thank you Herb Greenberg for the kind snaps in your fine column.

  • I'm not allowed to complain that I'm sore after my first-ever session with a trainer this morning at 6:00 AM. The boys in the pen are telling me to suck it up and I suppose I must.

  • The S's (under 1280) and the N's (under 1634) danglin' below recent support and current resistance.

  • I'm sensing an unspoken tension and angst that may facilitate a counter-trend rally but pales in comparison to legitimate (big wanted) fear.

  • I moved to the sidelines in my UNH trading try yesterday. Why? There's alotta smoke in this name and I'm not qualified to sniff it. That "know thyself" discipline that has helped me numerous times through the years.

  • Silver has, thus far, given up her teen status as the VXO (15.10) widens its lead over white lightning.


  • R.P.
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Position in financials, metals

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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