Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Orange Crops!


Hey Boo, did you lose this?


The first peek into Beeks' briefcase reveals "firmer" economic data, and that, coupled with the underlying support, has given the morning futes a dose of envy. The mad dash from cash started as soon as the headline posted and we saw sizable ETF's (Exchange Traded Funds - see QQQ or SPY) to buy across the board. There was some pressing by the shorts yesterday and many of them have towel tossed early. Stay on your toes as we'll get another coupla numbers at 10am.

Please note the series of lower highs and higher lows (S&P) that have been place since mid-May. We haven't just been in a range, we've formed a pennant that's winding tighter by the day. Typically, the more "bound" these formations become, the more violent the resolution. If (big if) the Minx can muster a move through S&P 1000, this particular pattern would be resolved. It's a different conversation that the "trading range" exchange (resistance at S&P 1015) but it's worth noting regardless.

I'm a little jammed this morning but wanted to get a post to you before the ticks start flickering. While the spring seems coiled and the incremental news is constructive, I will remind you that news is always worst at the bottoms and best at the tops. I'm not calling for a top right here, right now, but I wanted to add that dose of perspective before the frazzled fray is underway. The bulls are gonna do everything they can to ride the mojo through resistance and break the will of the remaining bears. If (big if) we don't rally on good news, it'll shift the psychology pendulum and alter the dynamic.

Good luck, cookie, and hit 'em where they aint.
< Previous
  • 1
Next >
position in spx

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

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.

Featured Videos