Watch the finacials -- they're the cornerstone of market stability
- The breakouts in the energy sector (OSX) are getting "loud" in trading circles. Are they too loud?
- The biotechs and semis bear watching as a "tech tell" duopoly.
- The GSE's continue to act funky. I'm weighing the big picture "double-D" thesis (debt and derivatives) vs. the likelihood that they're a bit crowded on the short side.
- Breadth has sprinted out to a 2:1 positive posture on the big board, 3:2 positive on the Nazz.
- Nobody seems the least bit concerned with the unrest in the Middle East.
- I've seen a couple of size sellers (Financial Sector SPDRs (XLF:Amex) and QQQ). Either the market will digest it (bullish) or it's indicative of coming supply. Either way, watch the tape for absorption/slippage.
- Do I think Freddie Mac (FRE:NYSE) is the tip of the iceberg? You know I do... but remember, Enron didn't matter until months after it was first uncovered.
- Trade with confidence or don't trade at all.
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.
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