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Monkey Junkies

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Be careful today and look through the muck, for I'm the town cow that loves to ....smile!

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Hey, hey we're the Monkees
And people say we monkey around
But we're too busy singing
To put anybody down


(The Monkees)


Good morning and welcome to the jungle gym. The minxy evolution continued yesterday as an early upside feast morphed into a late hairy beast. The baboon swooned, the chimp went home with a limp, and the apes left with sour grapes. Can Hoofy's insistance surmount gorilla resistance or will Boo's bearish crew beat down their spew? It's Hump Day in the city of critters, Minyans, so settle in and settle down--the best is yet to come.

The recent range has been strange, but at the end of the day, we've gone nowhere fast. Hoofy, swinging gently in a hammock, has few worries. He's got the metabolism to digest the recent run, and as he sees it, this latest breeze of trader unease is the necessary doubt to break us out. Boo, scissors in hand, is convinced that a bovine decline is a matter of time.

And you thought you were confused?

We've danced to this song before, and when we read the history books, one of these critters is bound to be bitter. While my humble view is that we're due for some goo, there's ample cause for the bears to pause. Hands over the eyes, textbook technicals want to see a sideways basing before we resume racing. The doubtful ursine, they opine, are fuel for the everlasting climb.

We could bust out, that's for sure, but I doubt sincerely that we've found a cure. My honest take is that we'll break, as the liquidity song only lasts so long. The wall full of writing, from what I can see, will soon spell out for all to see. We've been here before, is what it will say, the braggarts and bovine will soon rue the day.

I don't mean to bum, if that's what you think, I simply believe we're close to the brink. It may not be now, it may not be then, but question, quite truly, the why and the when. Think for yourself, look for an answer, the musical chairs are meant for a dancer. Breath deeply, I'll ask, and smell with your nose, make sure that you're ready, when the blooms off the rose.

Good luck today.
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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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