Brother in Arms
This is no weather for a snake!
Oh when I took her for a ride
She got close by my side
And when I looked into her eye
Amelia kept me hypnotized
The afternoon thing continues to swing as the critters reach for the brass ring. It's been a bipolar roller but despite laggy internals and a spate of high profile punts, the Minx is holding onto her hat. It's hard to decipher whether this is a simple retracement (in Red Dye) or if Hoofy is trying to make a strong statement. Until proven otherwise, however, Boo has earned the benefit of the doubt.
The overnight news flow--and there is a lot of it--will slowly give way to the summer Friday vibe as traders sneak to the beach and err on the side of caution. I pen that thought from the glass house as I'll be scooting mid-morning to drive my family to a wedding. It doesn't start until Saturday but you know grandmothers--it's better to be four hours early than five minutes late!
The asset class dance was somewhat muted today as the metals ended mixed, the dollar flat and fixed income slightly higher. The equity side of the equation remains to be seen although it looks like Hoofy will rope-a-dope his way outa the fray. Microsoft (MSFT:NASD), Amazon (AMZN:NASD), Amgen (AMGN:NASD) and Xilinx (XLNX:NASD) will soon emerge to lead the purge so please make sure that everything on your sheets is valid exposure (both ways).
I'm gonna keep this one short as there's a lot on my ever-expanding plate. I'll pen a quick randoms for tomorrow and then leave the critters to their own devices. When the prospect of missing half the trading day was first put in front of me, I immediately thought of ways to avoid it. Then, as I looked at the picture of Ruby on my desk, I remembered that the very reason we work is so we can spend an extra coupla hours with friends and family. Thanks for the reminder, RP, as sometimes it's all too easy to forget.
Fare ye well into the bell.
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 email@example.com.
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