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Random Thoughts

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Market breadth is implying this Snapper attempt will follow the slow boat to China...

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  • I gotta tell ya, with all the fairy tales floating around, this take on Goldilocks is by far my favorite!

  • A sharp Minyan just asked me what I thought of the SMH here. My response? "Looking at a chart, I would rather see it poke through resistance at SMH $36 and then use that as a defined risk stop."

  • Boots & Cooties? Well, well, WEL, they just priced a secondary at a significant discount to the last trade. I doubled down on my bet, which may be good money after bad, but it's an honest communication with ye faithful Minyans.

  • Snaps to Professor Greg Weldon on his most excellent literary offering!

  • Market breadth? Worse than 2:1 negative, which implies that this Snapper attempt will follow the slow boat to China (-4.5%).

  • As discussed on Tuesday, I pared a fair amount of my long-side bets as the tape powered through my strike and reached withering, decaying heights. I've now got a slew of fresh powder, which I'll look to deploy in the metal and energy sectors (at the right price).

  • Note the Snappage in the Homies, O-Dog, and "see" that HGX 230 is the right shoulder of previous dandruff. If this group is to fail in the near-term, that's as intuitive a level as any.

  • Speaking of levels, BKX 117.25-118 and XBD 248 are important zones for the piggies in our poke.

  • After a rather nifty swap of Mandy Moore for Keira Knightley, I'm taking that trade and swapping into Kate Bekinsale. Lady Minyans of the hood please don't be offended--I'm just a nice guy looking pa nub. After all, I just wanna be hugged--is that so wrong?

  • Note big pharma as it opens green in a sea of crimson. That's typically a sign that demand is rustlin' around.

  • If you haven't seen Hoofy and Boo's latest take on gold, you're missing what could be the funniest vibe yet in the world's first animated financial news show!

  • Welcome Coops! I speak for the entire MV community when I say that we're jacked to have you in our circle of trust.

  • As Cody noted, we've now filled the opening gap in the S&P futures. I'll add that there's only been a marginal uptick in market internals, which bodes well for Boo.

  • What doesn't bode well for Boo?


R.P.

position in wel, spx

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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