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Random Thoughts

By

The motivation seems to be on the buy side.

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  • All rise!

  • "I love California, I practically grew up in Phoenix." -- - Dan Quayle, former U.S. vice- president

  • I was a bit surprised to find the metals higher when I awoke this morning (perceived safety play in front of Iraq hand-off). I didn't make silver sales then (doh!) but got stopped out shortly thereafter as a function of my "rolled up" stops. The white lightening has since slipped and is down 3% on the session.

  • The NYSE breadth and the traction in the trannies remain bullish elements nestled in today's muck.

  • Yes, there's a hedge fund bubble and yes, bubbles don't end pretty.

  • Please add the NDX and RUT (Russell) as sectors with stochastics about to "hook" at the top (sell signal). They're not timing mechanisms (ask anyone trading the trannies) but worth noting nonetheless.

  • I've heard of big stinkin' elephants but this is ridiculous!

  • I, for one, am very much looking forward to the return of Kevin Tuttle.

  • The bevy of potential reverse dandruff (S&P, NDX, BKX) makes a short side stance daunting. If it's true what they say about the best fades being the hardest fades, however, Boo could be setting a rather nasty trap door.

  • When in doubt, sit it out.

  • Speaking of master betas, the internets are jiggy as quarter-end edges closer.

  • Minyans. Minyans in the Mountains.

  • The semis opened flat in a widespread sea of green. That generally means that supply is floating around and, as evidenced by the price action since, was obviously the case today.

  • A big thanks to Sandi and Rhino at Bloomberg for a fine job on the weekend segment. It was the critters first exposure on the small screen and they very much appreciate the effort.

  • Proactive traders typically trump the reactive crowd.

  • It's not important to play every trade, it's only important to have a high win percentage on the trades you choose to make.

  • Hey Matt Jacobs, I missed Sportscenter last night. What were the scores of the double header?

  • BKX 98ish remains a focus.

  • I'm getting good feedback from the Minyanheads who've attended the Dead shows.

  • Will this 'cycle' follow the script of previous cycles? Perhaps, but those other cycles didn't occur after the implosion of the biggest financial bubble ever.

  • Minyan Jeff Saut has repeatedly made the (very valid) point that the weighting of financials is much higher than the pure sector weighting suggests. "Financials in drag" such as General Electric (GE:NYSE) and General Motors (GM:NYSE) skew that curve.

  • Hoofy has thus far fended off repeated attacks from the Red Dye clan. The longer he can do that (and the higher prices are), the more likely the odds for a long squeeze into quarter end.

  • 10% of the proceeds from Harrison's Department Store will be donated to the Ruby Peck Foundation for Children's Education.

  • The high road doesn't have much traffic.

    R.P.
No positions in stocks mentioned.

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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