Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Random Thoughts: Will Turnaround Tuesday Stick?


Financials are today's ball and chain.

  • The previous lows in the USO ($27ish) can be used as defined risk for those looking for such things.

  • The standout action today? It's gotta be the dollar, Yo, which is up a percent and a laugh against a basket of currencies.

  • Asset class deflation vs. dollar devaluation is an "eye from the sky" dynamic but big moves must be respected as the implications are omin... er... obvious.

  • The uber-svelte Snoop Tony Dwyer makes a good point on the Staples (SPLS) corporate bond deal yesterday, following its 5-year senior note at 9.75% (or 800 bips over Treasuries). The company didn't have to do this particular deal until July, which infers that it foresees a worsening macroeconomic landscape between now and then.

  • Maybe it's true what they say-bald guys got good eyes!

  • I'm making a conscious effort not to get swept up in the societal stress and sadness. The easiest way to do this, regardless of your particular lot in life? Be thankful and appreciate what you have. Gratitude is latitude and this too shall pass.

  • Bikini? Tall. Banks? Fall (-1.25%). She said, she saw, the pennant.

  • Congrats to Minyanville's Emmy Award winning scribe Justin Rohrlich for winning Employee of the Quarter! Given I (again) failed to garner a single vote, I would also like to take this opportunity to remind our team at MVHQ that yes, I am indeed eligible!

  • Remember five years ago when I said I wanted to short the financials and open a taco stand in Costa Rica? Perhaps there's another opportunity to slap on a trade and swim, snorkel, dive and sail in Australia?

  • Jeezums, crude has more swings than a Hedonism Vacation.

  • Him doesn't like it when I let the cat out of the bag but I'll say this. The Minyanville experience is in the process of seismically shifting. You have no idea what I'm talking about, I'm sure. But don't worry, you will some day.

  • The tape may want to rally for Turnaround Tuesday but it'll have a hard time without sponsorship in the financial complex. Goldman (GS), Citigroup (C) and Bank America (BAC)-holy cow, BAC is a hat size?!?-remain front and center in that regard.

  • T-minus seven days until the baton is passed. That's not a political statement as much as being mindful of an important inflection point through a geopolitical lens.

  • My positions are smallish like the hands of a circus carny but thematically, I'm still long a spate of USO and a snivlet of Morgan Stanley (MS) puts. In order to remove emotion, I've set the stops below and above the recent lows and highs, respectively.

  • Keep half an eye on General Electric (GE), which is quietly off 6%. I could lament that I was short this stock and covered but the truth of the matter is that I've been long and short most stocks over my career and looking back is wasted energy.

  • Goodfellas was really released 18 years ago? I officially feel old. Somebody please call Janet Rossi in 2R.

  • Yeah, I know, I'm a strange bird. You should see the thoughts that don't make it to the 'Ville!


Positions in MS, USO

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos