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Freaky Friday Potpourri: Chance of a Spring Sprint?


The biggest rallies occur in the context of bear markets.


As I'm out of pocket today tending to business (no, really), I wanted to share some fare for those that care. Please know that I scribbled these thoughts last night and they don't reflect the overnight news or our Breakfast with Beeks.

So, without further adieu:

  • Trailing stops help shape an effective risk-reward profile, particularly if you're lucky enough to catch a cusp.

  • Please keep in mind, however, that the fatal flaw of this approach is overnight gap risk. Something to watch as a potentially binary event looms.

  • Never-and I mean NEVER-celebrate a trade until it's booked. That's the definition of a MUSH and one that always comes back to bite you in the bum. Stay humble... or the market will do it for you.

  • Did anyone else ever confuse Oates and Hall?

  • Personally, I don't have any fundamental issues with Pepe wearing a blue pea coat but I've always been socially liberal.

  • The Coops Du Jour-S&P 850-853-repelled Hoofy yesterday and it remains a short-term level of lore.

  • Leave the pressing and stressing at the door. Life's too short for the petty stuff, unless of course it's this.

  • For what it's worth, I sold most of the Bank of America (BAC) I bought in the hole yesterday morning following the 30% intraday rally (how could I not?). I still have my core and continue to "trade around" my thesis with defined risk.

  • My stop was also elected on Mother Morgan (MS) but, on the subsequent pullback, I tossed some of that coin into March calls. Maybe right, maybe wrong but you know it's always honest.

  • I'm hearing from all sorts of folks following the Tech Ticker interview. I haven't read the Yahoo message boards but I'm curious how high the hate-o-meter is.

  • Remember, when we talked about being 100% cash (long-term portfolio) last June, the pushback was palbable. If we see the mirror image of that scrimmage, it's an (admittedly nonsensical) anecdotal positive. So salt, just sayin'.

  • Funny thing is-and I mean this with sincere humility-I care more about my reputation than I do about my P&L. I figure if you do the right thing long enough, someone will eventually take notice.

  • I'm respectful of the downside risk and I'm of the view that we've got a multi-year bear staring us in the face. With that as context, the notion of a spring sprint fits with ten themes we laid out at the beginning of the year. Doesn't mean it's right but at least it's consistent.

  • Seeing both sides (again), please note the pennant formation in the S&P, which typically resolves in the direction of the prevailing trend.

  • Bloomberg TV vibed yesterday on the deflation vs. hyperinflation "crossroads."

  • Crazy, right? Minyanville: The financial news you need to know before you know you need it.

  • Look at Krue-Cat, all grown up and doing business the right way (good at what he does, better at who he is). Papa is proud.

  • Given the widespread job losses on Wall Street, I feel compelled to share that a NYC Minyan is looking to hire (not a typo) a research analyst. If you're looking pa nub, gimme a shout and I'll pass it along. That's how we roll in the 'Ville, together.

  • We're witnessing a reverse industrial revolution where every industry is being forced to rethink their business model.

  • It's indeed a scary time but the greatest opportunities are bred from the most profound obstacles. As my grandfather used to say, "Don't run scared." As usual, he was spot on.

  • Be kind to others, now more than ever. People are scared and at times, weak. Have more empathy than acrimony and be strong. Be a part of the solution. Be a Minyan.


Positions in BAC, MS

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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