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REDRUM!

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Flattening what?!?!

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"The demon is a liar. He will lie to confuse us. But he will also mix lies with the truth to attack us. The attack is psychological, but powerful. So don't listen, remember that, do not listen."

--Father Lankester Merrin, The Exorcist



Wanna hear something scary? Minyan Michael Kimelman KILLED our morning trivia quest by correctly listing The Exorcist, Halloween and The Shining as the Minyanship's three favorite horror flicks. While he's won a bloody cool tee , don't get spooked! You can sport the summer's coolest fashions with a simple swing through Main Street. Wasabi!

The early action is mixed as the Minx has put on a brave face to start the day. There are a couple of spooky themes, though -- the banks and retailers are down, the Internet stocks act sluggish, Smith Barney said to take profits in Intel (INTC:Nasdaq) (10 a.m.) and the dollar has given up its gains. It's uber-early, though, and a smell of the morning breadth is thus far constructive.

The deflation chatter is slowly getting louder and that's the catalyst (excuse?) for profit-taking in the financials. After the run they've had -- and it's been some run -- the notion of a flattening yield curve is a legitimate reason to pause. I'm a long-time, big-picture bear in the group, so take this all with a grain of salt. My concerns are predicated on (the potential for) credit and derivative woes but this latest input doesn't help their cause. Not advice -- just thinkin' aloud.

Watch our buddies S&P 920 (NDX 1120) as the first support zone and S&P 925 (NDX 1135ish) as potential resistance. And think positive, my friends, we're less than six hours away from our requisite two-day respite and a weekend full of fun.

I'll be back.
position in qqq, intc, spx,

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.

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