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Monday Morning Quarterback: Hank Goes Deep!

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Treasury takes a step toward recovery.

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Random Thoughts:

  • There was a time when "General Electric" and any hint of "accounting irregularity" would be the lead story in the press.

  • I've got some General Electric (GE) puts and the strategy, as discussed Friday, was to set a stop on the other side of $28.

  • In the spirit of the season, I'm going to call an audible and see how this opens before calling my next play on the Buzz & Banter.

  • Policies and the ramifications thereof come in waves of psychological and structural acceptance. That's an incredibly important point to remember as we find our way.

  • Hedge Fund Shutters remain in play and that will add to unforeseen crosscurrents in the marketplace.

  • Will the higher dollar be a chicken of causation or an egg of effect?

  • I continue to have the "consumer vs. consumer" pairs trade on through calls in non-durables such as General Mills (GIS) and Coca-Cola (KO) (margin expansion due to input cost deflation) and puts in Sears Holding (SHLD) and Wal-Mart (WMT) (the other side of retail therapy).

  • In that regard, pay particular attention to Campbell Soup (CPB) earnings on Wednesday for hints on how the pass through is playing out.

  • Also remember that Wal-Mart is a two-stop shop, with the first level of resistance at $61 and the other at $64.

  • While I ultimately foresee crude lower as a function of slowing global growth, I've been trading the USO from the long side into par ($100) for a trade.

  • The weekend news-which is dollar negative-should help that position out of the opening gate while Hurricane Ike might provide an additional bid. Again, just a trade.

  • Seven years on Thursday. Unbelievable. I would be lying if I said it didn't "hit me" this past weekend, as it does in waves, albeit less frequent.

  • We'll be "celebrating life" at MVHQ when that closing bell rings, trying to prove once and for all that if something good comes from all things bad, that something is sometimes perspective.


And Finally, Some Answers I Really Wanna Know...


R.P.

Positions in GE, GIS, KO, SHLD, WMT, 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 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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