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Random Thoughts

By

Be careful Toddo!

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  • What do they do with the cheese that would have been in the Swiss holes?

  • Do traders watch technical levels because they work or do they work because traders follow them?

  • When everyone I speak to thinks that the market breaks out (to the upside), it raises an eyebrow (and a flag!).

  • With that said, the herd mentality can/will work in a momentum driven market.

  • The bloodletting in bond land is vicious.

  • I've had some spirited conversations with Snoop Tone and Brian Reynolds regarding the "melt potential" in the market. While they make a strong case against it, I maintain that the conditional elements are in place. The wildcards? Catalyst and time.

  • I saw Seabuscuit last night. Personally, I liked it. A bit long...but a good flick.

  • Sometimes there isn't a sufficient edge with which to trade. If that's the case, you can't look back and beat yourself up for missing a move.

  • Why do mosquito bites itch?

  • I was driving on 57th Street yesterday and saw a doorman waxing the stanchion that held up his awning. How does a guy wax his pole in public like that?

  • The gold train continues to chug along.

  • Individual issues I'm watching closely today? eBay (EBAY:NASD), Fannie Mae (FNM:NYSE), International Business Machines (IBM:NYSE), Bank of America (BAC:NYSE), KLA Tencor (KLAC:NASD), Wal-Mart (WMT:NYSE).

  • On Friday, we had a Minyanville survey asking if the administration was doing a good job. I meant the Bush administration, not the Minyanville administration. Sorry for any confusion.

  • I'm looking forward to dinner tonight with Steve Galbraith and the Morgan Stanley summer Minyans, er, interns.

  • The Minx/Jinx continues it's uncanny correlation.

  • Are you gripping the handlebars too tight? Define your risk via stops and/or options and remove emotion from the equation.

  • Condolences to the family of Bob Hope.

  • Thus far, the basing vs. churning discussion is unresolved.

  • Franks and beans!

  • It's thin out there...even for a summer Monday.

  • The tone in the semis is (thus far) better than the tone in the BKX. Hence, N's over S's.

  • The macro flow is quiet today.

  • There are likely some "buy stops" above S&P 1000.

  • A single Tylenol pill can kill a cat.
position in ebay, fnm, ibm

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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