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Random Thoughts


We miss the Minyans


Please be advised that Toddo is still experiencing technical difficulties, but thanks to snail mail, here are his Random Thoughts.... hope to see him back in cyber world soon!!

There is nothing more frustrating than technical issues that are beyond your control. It really makes you realize how dependent we are on technology.

Somebody sold 50,000 Cisco (CSCO : NASD) August 17.5 puts to open yesterday. If this stock trades through the strike, the negative gamma will start to kick in (as the delta increases).

The breadth, once again, smells like cabbage.

While there have been some technical violations, the Dow Jones (9000) is still sitting within its recent range.

You can cut today's tension with a dull butter knife.

I wonder if Dr. Atkins ever read Catcher in the Rye?

The brokers act well (thus far) today. Resistance in the XBD lies above at 550.

Are you watching the futures to trade stocks or watching the stocks as a future tell?

Tonya Harding vs. Fokker in a boxing match. Who wins?


The JP Morgan (JPM:NYSE) action is curious.

Initial NDX resistance resides at 1240.

When does higher crude start mattering in the macro mix?

How many phantom second half recoveries must we experience before eternally optimistic CEO's lose credibility?

There's alotta chatter that the QQQ short interest ratio is the highest ever. At first blush, that's bullish...but I wonder if that's a pure number?

Cats have 100 vocal sounds (dogs have about ten). If I'm 15 minutes late in feeding Phoebe, I'll hear every one of them.

Raoul's, Rosa Mexicana, Shun Lee and Serendipity (lunch) remain my favorite NYC feasts.

I've seen previews of the pending HUGE announcement and it's blown away my expectations (and I have big eyes). I've been sworn to secrecy and can't spill the beans until I get the left coast nod -- but it's edging ever so closer to D-Day.

Did you see how many times the S&P tested yesterday's low?

Every once in a while, I pull up a six year S&P chart to look at the mongo head & shoulder pattern. As it stands, this recent rally is little more than a retest of the shoulder blade.

Let's put on our "look ahead" hats for a second. If the market holds in here, will psychology shift back to "they couldn't get 'em down with a bad Cisco"?

The Investor's Intelligence weekly sentiment survey showed bulls decreasing (56.5 to 51.2) and bears marginally increasing (19.6 to 20.8). That's slightly less bearish (as opposed to more bullish).

The internets have served as a good sentiment proxy.

The goal, when trading, is to be in a position to use prices to your advantage. If the Minx is up/down 100 from here, will you be in shape?

It'll be interesting to see how the Raider's offensive line gels this year after the Super Bowl discord.

The "locals" in the S&P pit have been keying off the BKX tick by tick.

positions in QQQ, SPY, CSCO

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.

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