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Random Thoughts: Goldman Sachs Leads Laggy Big-Cap Brokers


The answer I really wanna know is how quarter-end performance anxiety will manifest.

  • I'm fatter, er, flattered!

  • You gotta squint to see it but a small S&P pennant has formed. As these patterns typically "resolve" in the direction of the overall trend, we should keep an eye on the SPY.

  • Maybe something, maybe nothing--may be a pterodactyl--but please note that market internals, on both sides of the critter fence, remain flattish (S's slightly up, N's slightly down).

  • While I added some Goldman Sachs puts on Friday, I'm not gonna be a hero if my stop triggers (on the other side of $214). Discipline over conviction bodes well for trading longevity.

  • Naturally, that's the only big cap broker acting snazzy. Deutsche Bank (-2%), Bear Stearns (-1%), Morgan Stanley (-1.4%), JP Morgan (-1%), Citi (-1%) and BAC (-1%) are all throwing caution as we edge through the Monday's.

  • I mused to my buddy over the weekend that slippage in crude might actually bode poorly for the tape. That's counter-intuitive to conventional wisdom but it's familiar fare for ye faithful.

  • Ask and ye shall receive! Minyans have asked that all Hoofy and Boo videos be made available on MVTV and, as we aim to please, we've done just that. Just make sure you check out this Wednesday's episode-it's pretty killer.

  • Speaking of which, it looks as if someone in the Forbidden City saw the Starbucks critter video!

  • The answer I really wanna know is how quarter-end performance anxiety will manifest. The path of least resistance is higher, for now, so it remains to be seen if the path of maximum frustration is a fresh breakout followed by the "Now youse can't leave."

  • Remember the "heads up" we got a few weeks ago that alotta funds had piled into protection (hedges)? I'm getting further feedback from many of those contacts that alotta protection "rolled off" during Friday's (September) expiration.

  • Syracuse wins. Oakland wins. Yanks 1.5 games back. I can't help but wonder if this weekend was as good as it gets for my personal sports portfolio.

  • Pass the Advil! As is typically the case, expiration hangover will likely take a few hours to subside. Keep that in mind as you race for the profit chase during our fresh five session span.

  • Beta (BIDU to APPL to RIMM to GOOG) continues to stand out as funds flock towards the 'biggest bang for the buck' heading into quarter-end.

  • Minyan Marco from Geneva offers that "this paper on risk is a must-read for all Minyans." Thanks for sharing bruddah.

  • Doe Nation: We'll do anything for a Buck! Please keep December 7th circled for the Minyanville Circle of Trust Festivus in Manhattan to benefit Children's Education.


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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