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Random Thoughts


There's nothing wrong with momentum investing as long as you trail your stops and define your risk.

  • Anyone wanna venture a guess on how they dry the cars once they're clean?

  • Looking out and up, the S&P June 1540 and 1560 calls have outsized open interest. This may be hedged against (off board) OTC paper but keep it in the back of your keppe as we begin the new option cycle.

  • What, you think Private Equity has a monopoly on bubbles? There are now 526 ETF's listed in the with net assets of $500 billion (short interest is $90 billion).

  • At least he didn't call the kettle black!

  • With the post-expiration hangover in the rear-view and all eyes on S&P 1527, market breadth is settling in at 2:1 positive.

  • What flies are left in the try? The pink piggies, as the BKX continues to rattle in Red Dye. If Boo can somehow figure out a way to whack-a-mole S&P 1527, expect the financials (and retailers) to lead the bleed.

  • Kiss my Grits? In Flow's Diner, we've seen buyers of 20,000 Pfizer Jan'09 30 calls and seven figure size to buy in IWM (i-shares Russell). So ya know.

  • I watched Bobby over the weekend and it struck a nerve. Not just for its fantastic cast, but with regard to the societal rifts during that era. It seems to me that the only difference between then and now are the all-time highs in the market which, as you might expect, is apt to quell alotta acrimony.

  • We've been eyeballin' the commodities as an asset class proxy as it probed triple resistance (50- and 200-day moving averages, along with the March breakdown). It has now pushed above that triple lindy level and set her sights on CRB 319ish, which is the spring highs.

  • This is all the more impressive given the grabby greenback, which is 30 bips higher on the day. Keep in mind, however, that THE bogie--for commodities, stocks, widgets, fetzer valves and, dare I say mattresses--comes into play around DXY 83.5, which is the long-standing downtrend line from the beginning of 2002.

  • If the dollar begins to spin higher and can somehow sustain that mojo--no small feat in the era of greenback publication---it'll officially offer a flashing red light for traders of all shapes and sizes.

  • There's nothing wrong with momentum investing as long as you trail your stops and define your risk. Remember, back in the day, the last manic phase was the quickest coin. The only problem is that folks fell in love when they shoulda be dating.

  • The MVHQ monster move is seemingly smooth. Now, if someone could explain to me how to use these new fangled phones, we'd be ready to roar!

  • When the heck did mattresses get so expensive? I don't know but I will say that the Tempur-Pedic is prolly one of the best investments I've made in a while. If you wanna know more, I gotta guy who will give you a heckuva deal.

  • If the SOX is gonna bounce, isn't this sorta the level for it to happen?

  • Will Steve Galbraith be right in his Minyans in Manhattan muse that a busted massive LBO would eventually be the downside catalyst?
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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

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