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Random Thoughts


There's a ton going on Minyans---don't try to swallow it all at once or capture the flag with one trade.

  • I scribed this morning that option players should be aware that premium would likely fade in front of the looming three day weekend. Sure 'nuff, the VXO is down 13% as we edge through Turnaround Tuesday. I sold a ton of (front month) premium into the opening flurry (long, not short) and have since begun to nibble on some autumn (downside) premium in the financial space.

  • Why piggy premium? I don't like how JP Morgan acts and I don't like the way Aunt Fannie smells.

  • Where "should" this bounce run into supply? S&P 1280 and NDX 1635 are likely candidates. For my part, I'm a lot lighter than I was last night as a function of sales in the energy and metal arena (not because of my 6:00 AM personal trainer).

  • When John Succo speaks about the financials, Minyans should listen. He did, after all, run some of the biggest derivative desks on the Street and knows the inner workings.

  • Lest you think that the USA isn't at a competitive global disadvantage, Jack Bauer has been exported to China!

  • We've discussed the option sellers that have dominated the marketplace during the long, grindy road we've traveled. Remember, "buy-writes" (long stock, short calls) has the same exact risk profile as a short put. Keep that in mind if and when the selling picks up again.

  • Would you like a little blood with that alcohol?

  • In housekeeping news, we're getting ready to unveil a massively snazzy tool (and a handful of new scribes) in the coming weeks. Further, we'll likely have the monster app ready to roll by the time Minyans mingle in the Mountains!

  • Alotta market sages are offering that a short-term low has been put in. It may have been--I'm not smart enough to know--but I do know that today is an important day from a psychological standpoint. With a thin and thinner holiday tape approaching, the bulls need to show that they can maintain their mojo.

  • The critters continue to send white light to one of their own.

  • "Keynes and Common Sense...If you want to learn more about the philosophy of economics that I adhere to, the antithesis of which is more and more being woven into the fabric of politics and government, please go to this website, the home site of the Foundation for Economic Education. One basic principle that you should be familiar with, that government intervention in the long run is a de-stabilizing factor, is succinctly put by the president of the foundation in a paper to be found on today's website." John Succo on today's Buzz.

  • Boom Boom Bernanke was on the tape saying that he "doesn't want to judge" what stocks should do. Does that mean that the flickering ticks are edging out of his control?

  • I bought the opening in SunMicro and didn't like the way it traded. I since pared that "overage" and am riding my original position. So you know (and because a few Minyans have asked). Note to self: When a stock opens flat in a jiggy tape, it typically means that supply is looming.

  • Market breadth, which was 4:1 positive, has since abated to a 2:1 stance.

  • Despite Sunday's loss, Lebron is staking his claim to being the best baller ever to lace up a pair of sneakers.

  • There's a ton going on Minyans---don't try to swallow it all at once or capture the flag with one trade. Capital preservation is the first step towards prolonged profitablity and we wanna see you find your way to better tapes and easier landscapes.

  • Fare ye well into the bell and trade to win--never trade "not to lose."

  • R.P.
position in sunw, jpm, energy equities, metal equities, financials

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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