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Random Thoughts: Snapper Steps Up


Can this rally persist?


Editor's Note: The following was posted in real time on our premium Buzz & Banter. It's being shared here for the benefit of the Minyanville community. See also Chicken Little Skinned? and Two Wildcards to Watch.

Gate Sniffage! - 9:42 am

  • While psychology and structural are without doubt the top-tier metrics, it's worth noting that General Electric (GE) is higher on the heels of earnings.

  • Then again, so was IBM (IBM) early on yesterday, from what I hear.

  • Wachovia Bank (WB) is also a green bean. Meanwhile, Citigroup (C) just lost Bar Mitzvah privileges. I'll betcha a buck that this is one of the first government bank steroid injections.

  • You'd rather see me in the pen than me and Lorenzo rolling in the Benz-o.

  • I'm keeping that last arm dry as a function of discipline but I'm a much better buyer than seller into this, so you know. And of course, that doesn't make it right--but I hoarded powder for a reason and this is as panicky as I've ever seen it.

  • Bank America (BAC). Green. $22. See it.

  • Apple (AAPL). Oracle (ORCL). Dell (DELL). Google (GOOG). Qualcomm (QCOM).

  • Lemme hop--I'll be back. You know I'll be back.

Be the Ball! - 10:08 am

  • To Minyan Peter's excellent point, I'll offer that the greatest value proposition during an Age of Self Preservation is COMMUNITY.

  • Maybe I'm talking our book but it's my belief that trust, benevolence and intelligence will trade at a premium the next few years.

  • And yes, I'm quite conscious that the opposite of love isn't hate--it's apathy.

  • Nobody is smarter than the market (hand raised) but I have never seen it as negative as it was this morning.

  • While I'm leaving an arm free (read: trading powder) just in case (Tuesday?), I can't ever remember a time I've been more bullish for a trade than I was on the opening.

  • Did someone really just say "the good news is that crude is lower?" Seriously, have we not taught folks anything?

  • What's next---widespread belief that a higher dollar is equity positive?

  • Does the path of maximum frustration include my NOT getting a better entry point on the FXY (Japanese Yen)?

  • Fair warning--when the current chicken littles start cheering and screaming and yelling that it's clear sailing, I'm gonna pull in the reins.

  • Gotta hop, Yo. Be the ball. Be a smart, lucid, forward-looking unemotional ball.


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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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