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Random Thoughts: Reverse M&A


Mergers and deals souring all over the place.

  • As I said Friday, "long volatility" is my single best idea. I'm not gonna buy VIX calls-Succo has long argued against these as a trading vehicle-but that's my directional thinking.

  • The potential that Steve Ballmer is going to reallocate the Yahoo (YHOO) money is weighing on the share price this morning. If he can't find an alternative deal that he deems worthy, he'll likely buy back a company that won't resist his overtures--Microsoft (MSFT).

  • You know what sector continues to make lower highs? The drillers.

  • I'm officially 8 lbs off my intraday low-not a shocker given my inability to work out (knee) and Serendipity Therapy-but that's not gonna stop me from an old fashioned food orgy tonight with the savvy seer Jeff Saut, the incomparable Steve Shobin, Pepe Depew, Television's JeffMacke® and a Hot Rod from down south. Giddy up!

  • Does anyone remember what The Diaper Effect feels like? I've experienced it several times during my career, most notably in 1998 (the Thai Baht debacle) and 2001 (into the post-9/11 abyss). I'm not saying that's near-term business but with the VXO voting age, it doesn't have to be to make money through a "long vol" lens.

  • Tricks of the Trade: Any time I get price improvement in an option order, it implies that I'm likely a bit early on my bet.

  • Ambac (ABK) is quietly off 8% today, lest you're hearing the pitter patter of little feet. And I'm not talking about tap dancing--I'm referring to Old Mother Hubbard.

  • For what it's worth, I woulda thunk Microsoft would have been up more and Yahoo would have tickled teen status. I learned a long time ago that stocks don't lie (people do) so I'm digesting the action in kind.

  • There are over 82,000 reasons to smile in Minyanland today!

  • As I'm traveling tomorrow, I'm not gonna pile into any outsized exposure. I will, so you know, use rally attempts to add "underneaths" as a function of price.

  • Answers I Really Wanna Know…


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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