The Zepp Schlep
Who.... does... number... two.... work... for?
So if you wake up with the sunrise
And all your dreams are still as new
And happiness is what you need so bad
Girl, the answer lies with you
The morning mood is a bit of a brood as the bears skip to an early lead. While losers are outpacing winners 2:1, the damage thus far is relatively muted. I suppose that shouldn't come as a shock with the volume so light (get it?) but remember, Minyans, we've only just begun.
As discussed in the opening post, I'm carefully watching the financials today for any signs of slippage/traction. They're holding their own thus far (Citigroup (C:NYSE) is flat) and that's worthy of a nose scrunch at this early hour. Pay particular attention to these names as some low level chatter of a (fixed income) hedge fund "problem" is circling the trading wires.
General Electric (GE:NYSE) should also be on your trading radar as they're due to release their short cycle data today. With the industrials flexing their muscle of late, traders will be looking for confirmation (for continuation) or an excuse (to lock in some profits). It remains to be seen if they can bring good things to life.
Flow wise, it's quiet (as you might imagine) although the mongo Microsoft (MSFT:NASD) call buyer from yesterday had a change of heart and puked 'em out. I haven't seen much by the way of gorillas in our midst but there was some selling (via hedgers) and the Minx seems to have absorbed it. SPY 101 continues to be my most actionable inflexion point and as long as we're below it, Boo has the ball.
Finally, I've gotten some sneak peaks at the talent for the Critters Choice Awards and all I can say is HOLY GUACAMOLE! I've been sworn to secrecy and can't leak the news (yet) but suffice to say that the menagerie is pretty pumped. Just think...music...friends...fun...and philanthropy. It's simply as good as it gets.
As always, I hope this finds you well.
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.
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.
Daily Recap Newsletter