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Outward Bound!


May peace be with you!


This desperation
In temptation
Let it go


So here I am, surrounded by my eight screens and mocking Fokker (because I can) when, all of a sudden, the critters piled into my office! Boo was in a fly fishing outfit, Hoofy had on a sharp cardigan, Snapper was wearing shades and driving gloves while Sammy sported Lappy khakis and a lobster bib. Daisy? Daisy had on a black dress and veil. It's a very sad day for Daisy.

It's also turning out to be a rather drab day for the Hoofmeister. The inability to hold S&P 920 (coupled with a dead cow and some terror chatter) is pulling the Minx towards the next support (S&P 905 and NDX 1100). Again, this is either the initial phase of the down/up/DOWN trade or those waiting for the up (to get out or short) will feel the same way that the quasi-bulls felt after the past two intermediate lows. Only time will tell.

What do I think? Let's just say that an interim rally (S&P 970?) wouldn't shock me but it's by no means a given. Yes, this pullback was inevitable but that very fact makes for a complacent bull camp. I remain of the (humble) opinion that there's some meaty downside "out there" but the timing of that move is difficult to game. I also believe the cheerleading that we often see on television is irresponsible and self-serving... but that's an entirely different conversation altogether (all: that's an entirely different conversation!).

Remember, Minyans, the rest of the week is gonna be uber-thin and, as such, ANY move has the potential to be vicious. The bulls will be armed with the "alright, we've pulled back and now we can rip" mantra while the bears will chant "when this log rolls over, you'll all be red!" Watch for sector rotations (drugs, retail, banks, semis, energy, metals), monitor our levels (S&P 905 is big) and, above all else, remember to breathe.

I'm officially undressing and will gingerly place the bear costume in the closet, Mary Ann. We've all gotta "let it go" to refuel our spirit and soul sometimes. That balance leads to better perspective and that, my friends, leads to a fuller life. I leave the Minyanship in the most capable hands of Snoop, Brian and C.A. and when I return, we'll start discussing the new talent that will soon grace these pages. On behalf of the critters, have a healthy, happy and safe holiday weekend.

And fare ye well.
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

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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