Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Queen of Hearts

By

I'm being told that the McClellan Oscillator is pretty lofty and that implies a pullback may be near.

PrintPRINT

Some love is just a lie of the heart
The cold remains of what began with a passionate start
And they may not want it to end
But it will, it's just a question of when


(Billy Joel)


Good morning and welcome back to the critter shack. After a hump day pause in the bovine cause, the bears had time to lick their paws. As Boo scanned the faces of his beaten brethren, he stepped on a box in the sullen bear den. "We're not gonna win every fight of our lives," he bellowed to all of his friends and their wives,"but as long as the bulls are exchanging high fives, they won't be prepared when the harsh truth arrives!" Will Maximus Boo rile up his crew or will they all flee and bid him adieu? It's quiet--it's Minxy--it's Thursday, my friends, so let's focus in and look through our lens!

Not much as shifted in the minxy dynamic that wasn't already covered yesterday. We know the technical complexion of the three amigos, we've discussed the two-sided interpretation of the geopolitical landscape, we're in a fundamental dead zone (that'll change next week with Intel's (INTC:NASD) mid-quarter) and Brian has done a stellar job of walking us through the structural stew. Been there, done that--now it's time to see if the collective agenda will be to press the momentum envelope or adopt a slightly more risk adverse posture into a long weekend.

During times like these--when anorexic liquidity, anxious emotions and overt agendas combine--we must be respectful both sides of the tape. We have some room to run before resistance areas reassert themselves but, at the same time, most folks have covered up and lookin' higher. That is a notable shift (from earlier in the week) and while the momentum crowd is sittin' proud, they're also all facing one direction. That opens the door for a Red Dye flankin' and potential spankin'.

As per our typical process, we'll be lookin' for a quack count in our primary tells. Whenever we see the breadth, financials and semis pointing in the same direction (with supportive evidence such as the biotechs, small caps and cyclicals), the legs under the profit table sturdy and steady. For my part, I'm gonna be employing tight parameters on any and all positions so the thin Lizzy doesn't make me dizzy. Wait for an edge to show itself, Minyans, and remember that boredom doesn't qualify as an actionable catalyst.

Good luck today.

R.P.
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 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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE