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.

Screens of Green


I should get myself one of those green jackets!


The Minx sprints from the gate and immediately sets her sights on S&P 1010 (triple top breakout), 1015 (yearly high) and 1020 (triple top breakout). Not to be outdone, the NDX is sizing up NDX 1315ish (intra-day yearly high) as she tries to put all resistance behind her. We sensed that today's stride would be quite a ride and, thus far, we haven't been disappointed.

The tone is happy-go-lucky as the bulls dance the upside jig. Breadth is almost 3:1 positive, the banks are trying to join the party, the semis are squeezing the bejesus out of the bears and retail is trying to shake off some early morning lethargy. In a thin tape, a reversal of fortune can happen in a split second but, thus far, Hoofy likes what he sees.

What have I done today? Not a whole heckuva lot as I've got my positions on and I'm trading them as a function of price. I've pieced out (read: sold) some semi exposure as the price is right but my other names haven't triggered actionable levels (yet). There's a LOT of emotion in today's market and that has two potential effects. It'll either exacerbate the gains and trigger the technical buyers or it's a sign of giddiness that will soon exhaust. With my current risk profile, I'm allowing for both (although I'd profit more from the latter).

It's surprisingly quiet on the flow front and I'm just hangin' with Mr. Cooper until something tickles my fancy. I have been eyeing the DIA as a potential long rental but, as I've got some defined risk industrial calls, I want to be careful not to overtrade. Instead, I'm gonna walk through the drug sector and see if any of those oversold names are ripe for a rotation.

As always, I hope this finds you well.

< 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