The Dream Team
Maybe Collins should mash up the cookies and mix 'em in water?
I know nobody knows
Where it comes and where it goes
I know it's everybody's sin
You got to lose to know how to win
The midday Minx continues to slink as the traders trade and the critters think. It's been another snoozy session as we ready ourselves for the three day and folks will surely hit the eject button as the day drags on. That'll put the model thin market on a Slim-Fast diet and further raise the potential for an illiquid (outsized) move. If you're gonna stick it out with the critters and I, please respect the landscape and note the dynamic.
Commodities are having a firmer day in general as both crude and the metals retrace some of the recent weakness. Equities, for their part, have been drifty with a relatively firm tone. With that said, I've been eyeing the internals during the intraday rally attempts and they're actually slipping during the lifts. That's a subtle, yet important, undercurrent to note as we craft our end-of-day risk profile.
I'm not sure there's much to add that hasn't already been covered in recent posts. We're extended in the short-term and trading at/near the '04 trendlines, the credit markets are offerin' thumbs up, there are three month end catalysts (Iraq, Elmer, quarter-end) and Collins hasn't eaten since yesterday in preparation of his cookie chew. All in all, just another day in paradise (as Dan Meehan would say) and we're looking to focusing on the important stuff.
In Minyanville news, we're putting the finishing touches on the Minyanville Mountainfest in Crested Butte and it promises to be a rockin' good time. We're planning educational seminars in the ayem, outside activities in the afternoon (softball anyone?) and a few schnitzels at night. We'll have a detailed itinerary by next week and I hope to see as many Minyans as possible. While I understand that it'll be cost prohibitive to some, the critters will do everything they can to make it well worth your time.
As always, I hope this finds you well.
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 firstname.lastname@example.org.
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.
Daily Recap Newsletter