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Random Thoughts: Making Sense of a Manic Monday


This week kicks off with a bang.

  • While I would have liked to see UCLA-North Carolina, tonight's Memphis-Kansas match-up promises to be one for the ages. I like the Jayhawks-that Brandon Rush can ball!-but my hard court feel has left a lot to be desired.

  • Minyan Jon Burke, meanwhile, has a noice feel for the game and is atop our March Madness Leader board. Following tonight's championship game, the winner will win all sorta snazzy stuff-including bragging rights-while the "non-winners" are encouraged to do what they can to help the healers, leaders and dreamers of tomorrow.

  • I had a snivlet of leftover puts in Baidu (BIDU) after paring them into Friday's late day fade. I'm back in that saddle again with my stop set on the other side of this morning's high. So you know...

  • S&P 1380 is a level while S&P 1405 is the level. See them both and prioritize in kind.

  • You see the trannies? Eww, not those--these! TRAN 5000 is a level of lore with all sortsa "Dow Theory" implications.

  • I saw Priceless this weekend-you know, that French flick with sub-titles-and you know what? Trés bon! It was one of the better movies I've seen in a mighty long time.

  • Remember last week when we wondered if Hoofy would have to wait until Turnaround Tuesday to exact his pound of flesh? I wonder if Boo is eyeing tomorrow's session as the mirror image of that scrimmage?

  • Chinese commercial banks are now allowed to make investments in U.S stocks. This has flown under the mainstream radar today but it's worth keeping an eye on through the lens of perception.

  • The most bullish thing on my screen? The aggregate gains in the brokers (XBD) and banks (BKX) and the sticky 2:1 positive internals.

  • Please keep BKX 86.5 on a closing basis as a level of lore in that regard.

  • The most bearish thing on my screen? Aunt Fannie (FNM) and Uncle Freddie (FRE)--they're still drunk following the family picnic this weekend--and the VXO, which is sitting on the first of two trendline supports.

  • The Financial Times is reporting that Hedge funds are having their worst start to the year on record with the average fund down 2.4% in March (the worst month since the collapse of Long Term Capital Management in 1998).

  • Broker 10Q filings will be hitting over the next few weeks and investors will be closing watching for the Level 1-3 asset breakdown as well as the valuation criteria being used.

  • Do you think it's at all strange that this weekend, after picking up Zoë from the animal hospital, I took her for a drink at the Four Season's, complete with a saucer of milk?

  • Why is it that every time I order Chilean Sea Bass these days, I have an urge to order a side of saffron risotto?


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Position in BIDU

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

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