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Random Thoughts


The natural question is begged, if the VXO is looking up, what are the implications for liquidity?

  • The Bing! and Swing? We knew the importance of S&P 1527 and this morning, as soon as it took out that level, sell-stops kicked in and triggered the whoosh.

  • I like to give the Minx a half hour to shake out the noise and shake off the funk each day. A truer tone generally emerges post 10 AM, which is when I begin looking for 2:1 readings in the internals (either way).

  • Speaking of which, breadth is currently 4:1 negative, so ya know. The longer they stay that way, the more pertinent it becomes as a tell (tapes that are heavy (strong) all day tend to end that way).

  • Why is it that every time I hear Vladimir Putin's name I think of Gene Wilder?

  • As I've told a number of MV professors, don't worry when other folks lift your style or vibe, worry when they begin to stop.

  • Professor Bennet Sedacca has been ALL OVER the "developing global bear market in bonds." If you haven't seen his vibe today on the Buzz, you betta recognize! The implications for higher rates in a financed based economy is a pretty important data point.

  • Funny, we have an "inappropriate box" sitting in the middle of the editorial desk.

  • Hello Dolly , is that a double top forming in India?

    Click to see larger image

  • For years, the VXO has been "depressed," in part because it's the "other side of the liquidity glut." So, the natural question is begged, if the VXO is looking up, what are the implications for liquidity?

  • We've been keeping a close eye on the piggies as they've offered one of the few (ableit important) non-confirmation of the broader market highs. BKX 118 was the acne level of lore and BKX 116 was--and is--important support (please note that BKX 115 is the 200-day as well).

  • As it stands, Hoofy is hanging on by his fingernails as Boo begins to lick his chops for the first time, how long has it been?

    Click to see larger image

  • Yes, technicals are but one of four primary metrics -- particularly ahead of earnings and given the intricate global machination, but it's no coincidence that the (potential) break in the banks is occurring at the same time the S&P trendline (from the February lows) is under attack.

    Click to see larger image

  • As go the piggies, so goes the poke.

  • How much do I get given that someone snuck into my closet and replaced all my clothes with the same wardrobe, one size too small?

  • We used to talk about The State of the Art of the brokerage business. Today, 420 Prudential Financial Professionals are swallowing a similarly bitter pill. Not casting stones (not our style), just remaining aware of the evolution.

  • Some chatter is making the rounds on the trading wires that 'tis the season(ality) to buy gold, with the period between June and August providing a platform for a strong year-end run.

  • Full House? It sure feels that way, as I vibed this morning. Still, this is an interestingly "unpopular" stance by Mother Morgan.

  • Is this the first real dip? Feels that way, as the tea leaves and technical levels have shifted the benefit of the doubt to Boo's camp. Three quick points. 1) We'll likely see a Snapper attempt at a point--watch our tells during that try. 2) If we hear Terrapin Station, the semis, Google and Apple will likely lead (they're dry) and 3) If, somehow, that happens, Boo will need corks on his forks as a function of frustration.

  • Y'all see the new episode of Hoofy and Boo's News & Views? Call me sophomoric but I think it's pretty funny.


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

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