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Answers I Really Wanna Know: Turnaround Tuesday Spark?


Bulls are looking at a steep slope.

  • Can you imagine what foreclosure would look like?

  • If the financials are going to bounce, isn't today the day?

  • After all, between 1) fund managers purging exposure into quarter-end, 2) Turnaround Tuesday and 3) the relative proximity to BKX 60, isn't this Snapper's best shot at redemption?

  • If Wachovia (WB), JP Morgan (JPM), Lehman Brothers (LEH) and Fannie Mae (FNM) traded as funky as they did yesterday with the futures higher most of the session, how the heck would they trade if the worm really turns?

  • You see UBS AG (UBS) and Deutsche Bank (DB) both taking 5% haircuts on the other side of the pond, right?

  • Why do I get a very strong sense that a trusted choice for a financial voice-as found in Minyanville, which is sometimes right, sometimes wrong but always honest-will be a pertinent societal need for the next five years?

  • In that light, wouldn't now be an opportune time to share that I sold the last tranche of my American Express (AXP) puts yesterday?

  • Is there a better read on the Street than Pepe Depew's Five Things?

  • Is General Motors (GM) a bounce candidate into 3Q?

  • Y'all keeping an eye on that Google (GOOG) gap between $525 and $450?

  • Does "down 20%" matter to a bear market any more than back-to-back quarters of negative GDP growth matter to recession?

  • After all, isn't the market a discounting mechanism?

  • And by the time we read about it, the tape is already looking past it?

  • More importantly, doesn't social mood and risk appetite matter more to both?

  • Where the heck is Franklin Raines?

  • Who the heck said it was gonna be easy?

  • Haven't we been monitoring the writing on the Wall Street wall for some years now?

  • The question du jour: Quarterly inflows... or quarterly outflows?

  • Do you think Armand and Albert Goldman are still happy together?

  • Was the single most disturbing action yesterday the fact that the VXO was down 4%?

  • Are Minyans really surprised that the Pentagon is now warning of an Israeli attack on Iran?

  • US venture capital funds failed to take a company public last quarter for the first time since 1978?

  • Billionaire investor Eli Broad said the U.S economy is in the "worst period of his adult life" and the housing recovery is "several years away?"

  • That's not too different from my vibe that we've got five lean years ahead of us, right?

  • Does that mean we won't see rallies litter the landscape to infuse false hope and empty promises?

  • After all, don't the sharpest rallies occur in the context of a bear market?

  • And regardless of which way the fray sways, shouldn't risk management trump reward chasing as the central tenet of money management?

  • Given the pushback I receive when I offer a contrary opinion-such as being bearish on the banks last spring or bullish for a trade on March 17th-what does it say that hundreds of people on the Yahoo message boards spewed venom towards me when I offered that my long-term nest egg (which is different than my short-term speculative trading account) was 100% cash?

  • Other than offering obvious anecdotal evidence?

  • Hey you at the beach-having a nice day?


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Positions in WB, GOOG

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

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.

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