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Random Thoughts: Will the Market Slide Continue On Monday?

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The downside wick following yesterday's wax has been lit. The question, of course, is whether it'll wane into the weekend...

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  • What's for lunch?

  • There's a little black spot on the sun today... it's the same old thing as yesterday.

  • The downside wick following yesterday's wax has been lit. The question, of course, is whether it'll wane into the weekend (and spark fresh "Black Monday" chatta).

  • The critter compass? Mixed, in an N's over S's sorta way.

  • The biggest, baddest blackest marks in the market (mark-to-market?) are the financials, as Merrill (MER) takes a 10% haircut, Morgan Stanley (MS) slips 6% and the Citi (C) pity party continues (-4%).

  • And Goldman (GS)-the king of pain in more ways than one-is off a cool finski (5%). That's been the mas tell for a long time so see it, along with the next levels of technical support.

  • Seeds of green? The drillers (after a long, painful underperformance), semis (ditto) and select industrials trade dry. If Hank, er, Snapper can again save the day, look to those sectors as potential vehicles.

  • Did you ever read the Mother Morgan vibage?

  • How 'bout the Letter I War Story?

  • Does anyone else feel like Monday through Friday is one long-arse day and the weekends simply serve as ketchup? That's what it feels like to me although, truth be told, my whole mojo seems a bit more balanced after taking the time to smile and breathe on Wednesday night. You gotta do it--especially when you feel like you can't afford to.

  • A profound sense of sadness indeed.

  • As I was being interviewed this morning, the gentleman told me that I remind him of a big kid with a bigger heart. I responded that I hope I never lose the innocence of that perspective. I continued with my thought that the air gets thinner as you get older and see more-you get hurt by others, you witness lies and understand agendas, you suffer from mistruths and mistakes and you experience loss, whether it's our loved ones or innocence. If I can stay a kid at heart-while keeping my eyes open-then I consider myself quite lucky.

  • I also told him that was the magic of Minyanville-the belief that there is a better way to do business and a truer way to live life. Honesty and integrity trade at a premium these days (look around!) and if we can surround ourselves with a trusted community that has skill-sets that complement our own, our odds of success-and happiness-greatly increase.

  • Answers I Really Wanna Know…


    • With beta such as Baidu.com (BIDU), Research in Motion (RIMM) and Google (GOOG) stretching the N's higher while Goldman, Merrill and Citigroup pull the S's lower, which side will win the tug-o-war into the close?

    • Doesn't this sorta sum up the whole enchilada?

    • Remember when $1000 gold and $100 crude seemed like pipe dreams?

    • Is anyone else jazzed to see the fresh flavor of Hoofy and Boo on tonight's FOX Business Happy Hour?

    • S&P 1490?

    • Are you watching market internals during the inevitable Snapper attempt?

    • Has anyone figured out what candy corn is?

    • And where does it go during the other 51 weeks per year?

    • Wall? What wall?

    • Is A-Rod going to the Dodgers?

    • Did sentiment shift in the financials?

    • What will that mean when the next slew of multi-billion dollar write-downs arrives?

    • And if that's true---if psychology has indeed shifted--how long will a handful of tech stocks be able to provide leadership?

  • Have a fantastic weekend, Minyans, and stay mindful.


R.P.


Holiday Festivus is here! Come join us and support the Ruby Peck Foundation For Children's Education at an old-fashioned Southern-style hoe-down in the heart of New York City on December 7th. Click the image below to learn more!

Positions in S&P, GS

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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