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The Grand Stand

By

Strategy is our strength and not disaster.

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You are living a reality I left years ago
It quite nearly killed me.
In the long run it will make you cry.
Make you crazy and old before your time.


(Crosby, Stills & Nash)


The afternoon session edges along and there's only one game in town. On the south side of S&P 1015, Hoofy is pushin' his cushion and trying to break 'em out. At the same time, Boo is laying across the top of the manhole grasping and clawing to hold back the herd. The winner of this battle will set the tone for the entire equity universe. Nothin' like a little pressure, eh?

As we discussed earlier, the breadth and brokers bode well for the bovine. What we must weigh against that is the number of traders who have gotten long awaiting the "inevitable" acne. If they don't squeeze through the looking glass, that merchandise may come for sale (particularly in the face of today's bond meltage and SOX slippage). It's dicey, Minyans, so please stay on your toes.

The fun and games continue tomorrow as Smith Barney and Cowen continue their tech fete, Lehman does the energy thang, CS First Boston throws a software party, Thomas Weisel hosts healthcare and Goldman goes shopping with retail. On Thursday, the world's most anticlimactic mid-quarter update will be held as Intel (INTC:NASD) tells its tale.

I'm gonna hop as I just saw one million SPY hit the tape on the sell-side. If (big if) this is indicative flow, it might make for an interesting close. Either way, please keep your wits about you and your discipline tight. Emotion is the enemy in this business and trading with your heart can cost you your head.

For all you Minyans trying to guess the talent at the Critters Choice Awards, I can only say....nothing. The details of the event--including confirmed talent, sponsorships and beneficiaries--will be announced on the CCA site as it becomes public. I promise you two things: you won't be disappointed....and we're gonna raise a lot of money for the kids.

Good luck into the close.

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position in intc, 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 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.

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