Randoms: Chip Which?
Traders ready for a new slew of earnings.
Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). It's being shared here for the benefit of the Minyanville community. See also A Financial Jedi Mind Trick? and Turnaround Tuesday Strikes Again.
So here we are, in the midst of contra-hour in the thick of Turnaround Tuesday, weighing the fray and finding our way. As I chew through my many to-do's, with one eye on the tape, the other on upcoming earnings and the Third Eye Blind, the following vibes are top of mind, in no particular order, as we edge our way to the weekly Hump:
Minyan B-Daddy asked me for my gut on Intel (INTC). A quick glance at the chart (potential acne) coupled with the "kitchen sink mea culpa" by management, would tilt my hand in the direction of Hoofy. I've nibbled ever so slightly on some front month lottery tickets for schnitz and giggles, so you know and if you care.
Expect to see the bulls recircle their wagons at BKX 32.5 and S&P 800, if and when. We've spoken in spades about the reverse dandruff in both--as well as the fact that technicals are a better context than catalysts--but you always wanna know what other traders are thinking and now you do.
We touched on "Doing Something Joel" earlier but I wanna circle back to it. It's tough out there--you feel it, I feel it, we all feel it--but it's amazing what a random act of kindness can accomplish. A smile. A gesture. Offering some M&M's to a stranger, that sorta thing. You never know how far that pebble will ripple in the proverbial pond of life.
Speaking of ponds, life and the other side of that trade, I'm heading to Orlando Thursday to meet with the good folks of Atlantic Advisors. While I'll be out of pocket most of the travel day, I plan to hang with the boyz in the hood an Friday and vibe live from there. There was once a time when I would never travel on a dual earnings and expiration week but some things are simply more important.
Thanks kindly for understanding, Minyans. Fare ye well into the bell and remember to "trade to win," never trade "not to lose."
In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.
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 firstname.lastname@example.org.
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