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The Poncho Honcho

By

May peace be with you!

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We met down on the fort of Rio Grande
We met down on the fort of Rio Grande
Eat the salted peanuts out the can
Eat the salted peanuts out the can


(War)

The CSCO kid reports a penny better and marginally higher revenues and the street anxiously awaits the conference call (for guidance). Late day chatter made the rounds that Chambo & Co. were gonna "beat and raise" and while they accomplished the first, the second remains the wild card. One thing for sure, Minyans, the recent rally (and whispers) raised the "bar" and expectations are high. Stay tuned.

The Elmer double pump head fake (rally/fail/rally) took us on a round trip right back to our pre-FOMC levels. Overall, it was another constructive session for the Minx and the "blow-off" script seems to be in tact. The warning signals are there -- we've discussed them in kind -- now we just need the exhaustion trade. My sense is that we're in the midst of that now, although the timing is admittedly difficult to game.

In the meantime, I'm scanning a laundry list (two ways) for relative longs and absolute shorts. I'm clearly skewed to the put side of the equation and, thus far, it's been early. With June paper, however, I'm afforded a little time and I'm thankful for that. I've little doubt about where we're heading, I'm simply struggling with when we get there.

Either way, we'll do it again manana and it promises to be an interesting Hump Day. I'm gonna jump to listen to Sir Chambo before meeting Senor Sklar and Senorita Holovach (Jacob's Cure) for dinner and a discussion of the important stuff. I sincerely hope you all had a profitable day and, more importantly, a profitable evening.

Have a peaceful night.

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 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.

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