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Trading Snips


As long as I use disciplined stop levels, I can play all I want!


  • The Pfizer (PFE:NYSE) news is boosting the pharma sector. Remember PPH 80 (pharma HOLDRs) was a breakout on point & figure.

  • Catch-22 for the bears: There are a ton of breakouts on the charts -- but they knew (felt) that the technicians (along with everyone else) had to endorse the rally before it failed.

  • The TRIN fell to .48 yesterday. Since the start of the bull phase in March, there have been six occurrences of a TRIN closing below .50 and every time it happened, the subsequent session was +/- (consolidation). Thanks Clyde.

  • S&P 1007 (the previous Friday's exhaustion high) can be used as a long-side stop for aggressive day traders. NDX 1230 is initial support for the techs.

  • I haven't seen blind optimism like this since the bubble days. Could this be Bubble II: Revenge of the herds? Maybe -- in a much smaller way -- but maybe.

  • There's a huge Microsoft (MSFT:Nasdaq) call buyer out there (again)

  • The OSX false breakout is a textbook example of the caveats associated with trading pure technicals. With that said, the PPH "shook out" the weaker holders as well.

  • Everyone (and I mean everyone) I speak with thinks they rip 'em higher. While I'm the furthest thing from a pack rat, I'm using an S&P 1011 "stop" on the lone furry appendage as a function of discipline.

  • There's no such thing as a "sure thing" in this business.

  • In an environment ripe with performance anxiety, the master beta names (homies, bios, tech) often serve as financial Viagra into quarter end.

  • I still think we see a major top this summer.

  • Daily tells include Microsoft, breadth, our levels and the biotechs.
position in spx, qqq, msft, oih

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

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