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.

Inflection Detection


The morning direction typically reverses during Elmerfests!


Takes more than combat gear to make a man
Takes more than a license for a gun
Confront your enemies, avoid them when you can
A gentleman will walk but never run


A quick ping from Sting to start today's swing and, as they say at Churchill Downs, "They're off!" I've spent the better part of my morning talking to trusted traders and, with the notable absence of a select few, most of the furry fiends have hid in hibernation. The cave has been a safe domain for the bears but the question remains: When the bulls are dribbling on themselves and the bears are hiding, is that a "tell" in itself?

I've got the bear costume nearby and I'm (secretly) hoping for a "blow off" higher to get more aggressive in my posture. As I said this morning, I've got the gamma on so if by some shocking chance, we trade straight down, I won't have to put corks on my forks. Still, by my standards, I'm fairly balanced and I respect and appreciate the power of the unknowns (Elmer, Chambo) and the current momentum.

Watch S&P 935 again as a VERY important upside resistance and BKX 800 as a psychological support. I saw a rotation yesterday out of financials into tech but, as you know, we've seen days like that littered throughout the last few months. Stay on your toes, remain sharp, think positive and, please -- shoes off!

I'll be back
position in csco

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos