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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.


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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