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Random Thoughts

By

What happened to all the dip buyers?

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  • The transports, which outperformed in the early sniffs of the bullish phase, have lagged badly the last few sessions.

  • The trendline from the March lows (NDX, S&P) is no mas.

  • Wouldn't it make more sense if Hungary bordered on Turkey?

  • The Maine drug discount program block was lifted by the U.S Supreme Court. That's what hit the drug sector.

  • BKX 800 is back in the bears' cross-hairs.

  • S&P 920/NDX 1120 are the next support zones.

  • Can you imagine how long it would take to eat sushi if you had to eat the rice one grain at a time?

  • You can't rationalize with the irrational.

  • I've made some disciplined sales on my put positions but, with vols at these levels, I've been more inclined to nibble on some underlying stocks (with stops) and set up intraday gamma.

  • Did expiration provide some stickiness to equity levels? Looks that way, right?

  • Did anybody else see the new psychedelic M&M's?

  • Traders who piled into the peripheral biotechs (on the heels of Genentech (DNA:NYSE)) are getting wishboned.

  • Snapper must still be chillin' with Casey because he was noticeably absent from today's opening.

  • The action in some of these big cap drug issues is EXACTLY the reason why defined risk makes sense when vols are so cheap.

  • For purposes of our "crowded long side" discussion, this still qualifies as the "first dip."

  • Prayers to those injured in the barbaric terrorist attacks in Israel.

  • The German Dax is down almost 5%.

  • The LOW earnings are weighing on the homebuilders.

  • Gold continues to impress with its upside action.

  • Casey and I settled into a mind-meld Friday afternoon and emerged late last night.

  • Microsoft (MSFT:Nasdaq), General Motors (GM:NYSE), General Electric (GE:NYSE) and Wal-Mart (WMT:NYSE) all acted heavy towards the latter part of last week. Look for traction in those names (and the transports) as signs of market stability.

  • The Oil Service names are extended. but thus far, haven't given much back.

  • Are we in the midst of the first leg of the down/up/DOWN trade?

  • A couple of Minyans pointed out that our current juncture in the Minx vs. Jinx trade (Nikkei) is more 1993 than 1995. I see what they're looking at, and I can't argue against it.

  • If you're diggin' the critters and think the content is of value, please help us in spreading the word about Minyanville. We rely on our readership in that regard. Thanks!

  • Boo picked up a couple of hot chicks at the poultry mart. Get it?

  • When unsure, trade in-between.

  • I'm not paranoid, are we?

  • Is everyone expecting a rally attempt from Snapper?

  • Have you tried the fantastic Minyanville brand cookies?
position in wmt, ge

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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