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.

Voodoo Economics

By

That's it--I'm rooting for Ohio State now!

PrintPRINT


Well I stand up next to a mountain
And I chop it down with the edge of my hand
Well, I pick up all the pieces and make an island
Might even raise a little sand


(Jimi Hendrix)


The Wolverine Confidence number is released (a tad weaker than expected) and, along with the sluggish retail sales report, has cast a cloud in the sunny skies of economic reprise. Add a little Oracle (ORCL:NASD) unease, some Texan displease (TXN/NYSE) and the Nokia cheese (NOK:NYSE) and--low and behold--the bears are actually starting to state a case!

Is Boo celebrating? I'd smack him silly if he was! I've got our resident bear sitting right by my side and we're discussing the importance of field position and psychology. We know that the bull camp is uber-crowded and vulnerable--particularly in front of quarter-end. We also know that the Minx has sprinted with spirit the last six months and she's a bit extended. What we don't know (and can't see) is the liquidity fluidity (which, as we've learned, is a metric of particular importance) or psychology patience.

We're currently tickling the Hump Day lows and traders are chatting that up. For my part, I've been using the short-term triply lindy resistance (NDX 1350-1355) and set up some tech shorts below that. With that said, I will quickly draw your attention to S&P 1003 (key trendline from back in March). If Snapper is gonna clap, that's as intuitive a level for some claws pause.

Breadth is bunk, the dollar is drab and we're looking at some S's over N's. Other than that, I'm trying to keep Fokker focused as he keeps reading "Gambling for Dummies" in his down time. Dude--focus on the minutes....the hours will take care of themselves.

I'll be back.
position in ndx

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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE