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Show Me the Minyan!

By

How can you make jokes at a time like this?

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"I will not rest until I have you holding a Coke, wearing your own shoe, playing a Sega game featuring YOU while singing your own song in a new commercial starring YOU, broadcast during the Superbowl, in a game that you are winning, and I will not sleep until that happens. I'll give you fifteen minutes to call me back."

--Jerry Maguire, 1996



Holy cow! Sorry Daisy...I know you're not having a good day. I sincerely hope that your cousins to the north haven't been affected by the most recent Canadian breakout. That's gotta suck. What doesn't suck, however, is that Andre Liu correctly identified all 28 professional sports franchises that don't end with the letter "s." Two in baseball, three in hockey, six in men's soccer, six in women's soccer, three in men's basketball and eight in women's basketball. Dr. Dre's gonna be rollin' down the street in an uber-comfortable Minyanville fleece. Drizzam!

Back in (my) reality, the lazy graze continues as the Minx finds her way through a snoozy session. S&P 920 was temporarily breached as news of the angry moo's awoke the autopilots. I've seen some sell-side flow in the form of S&P put buyers and one of two things is happening, Re-run. Either there are sellers in the wings (bearish) or the tape is absorbing the supply and not going lower (bullish). Which is it? I've still got one appendage in my bear costume (S&P 927 stop) but, so you know, that'll be in the closet by the time we power down.

There are constructive elements to this tape (thus far). Breadth is steady, the Minx is trying to hold her levels in the face of a drippy dollar, the terror chatter is being digested (not sure if that's good or bad) and the drug abuse (LLY, MRK) hasn't spread. As it stands, we can't rule out that yesterday's slippage was the initial leg of the down/up/DOWN trade. Stay tuned...and stay awake!

Finally, I want to thank ye faithful Minyans for, well, being faithful Minyans. We built this community as a place to learn, share, grow and, above all, to get "it." I've spent a long time in an industry where success is judged by one's ability to produce money. That's still my professional goal and I won't deny my competitive desire--but bank accounts aren't a panacea. Sometimes, when we focus so hard on something, we forget why we're doing it in the first place. Do the best you can do but, more importantly, be the best you can be. That's where the true wealth lies.

Good luck into the close.
position in spy, mrk

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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