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Freaky Friday Potpourri: Flipping the Switch on Triple Witch


It's the middle of the annual expiration cycle.


Raven hair and ruby lips
Sparks fly from her fingertips
Echoed voices in the night
She's a restless spirit on an endless flight


Good morning and welcome to the final fifth of a freaky week. With broomsticks between our legs, it's time to fly over the midpoint of our annual expiration cycle. Given how spooky the world currently is, I suppose we shouldn't be shocked to see witches in motion and traders howling at the moon in front of quarter-end.

There's a lot on the line and a lot going on so I'll leave the imagery for another time and dive right in to the task at hand.

  • Today is summer solstice, which produces the most sunlight of any day of the year. So, we've got that going for us.

  • While expiration influences manifest through increased volatility in the days preceding premium burials, we're sure to see some pin action into the close.

  • Along those lines watch Citigroup (C) as $20 is a natural magnet today. Any drift from that pin will be telling with regard to the underlying agenda.

  • Hedge fund managers in handcuffs? That encapsulates two prevalent Minyan themes: societal acrimony and the blame game. Not saying it isn't warranted, just saying that it's happening.

  • Just as it looked like crude was ready to roll, geopolitical tension upticks anew. It's been my unfortunate gut that something will go down in before the stateside election and the dial keeps moving in that direction.

  • Perception is reality in the market. The grist between the two is where profitability lies.

  • Hey Old School Minyans, remember my rhyming phase? That was weird.

  • In the spirit of triple witch, the Minyanville community is encouraged to walk through Professor John Succo's option tutorial.

  • Every time I hear someone said crude isn't a bubble, I think about similar conversations we had about China. And Real Estate. And It's always a new paradigm until it isn't.

    Click to enlarge

  • Professor Sedacca just pointed my eyes towards BKX 60, which is a massive level for the financial spectrum and, by extension, the broader market.

    Click to enlarge

    See it Minyans--those looking to bottom fish for an oversold bounce can use the other side of that ride as a relatively tight stop.

  • Shining Star. You know… Shining Star!

  • I stumbled on this column and enjoyed the reflection. Perhaps Minyans will as well.

  • Google (GOOG) continues to act funky. While I covered my short into yesterday's opening abyss, the price action continues to favor a ride through Red Dye.

  • If Yahoo (YHOO) fills the pre-Microsoft (MSFT) gap ($19 and change), I'll likely get involved. I think there is massive franchise value and the ingredients to the worlds largest next-gen network. The task and hand-as it is for all of us-is execution.

Answers I Really Wanna Know...

  • If Minyanville is to stake claim to "the financial news you need to know before you know you need it," don't we have to be ahead of the curve?

  • Does your firm wanna license the Buzz & Banter, either bundled with our content or "stand alone" as an internal communications tool?

  • Given the wishbone, does a long BKX-short S&P pairs make sense?

  • The piggies last poked below BKX 60 ten years ago?

  • Where were you ten years ago?

  • Wow, that was really ten years?

  • Has anyone ever played Shining Star better than the Grateful Dead?

  • Are we there yet?


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No positions in stocks mentioned.

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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