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Random Thoughts: Irony in the Financials


If the broader tape adheres to the "as goes the piggies" mantra, the downside poke has a ways to go...

  • Eyes Alive! See the drillers as Schlumberger (SLB), Smith Int'l (SII) and Halliburton (HAL) are all 5%-7% lower on the heels of yesterday's curious action.

  • As there is no mercy in the energy space. Keep close tabs on your metals positions as they tend to trade together. XAU 172 is the level of lore for gold bugs galore!

  • Where were YOU twenty years ago today?

  • Aside from the traction in select financials such as JP Morgan (JPM), Wells (WFC) and Bear Stearns (BSC), keep an eye on the homies as they're starting to grin higher. They, as you know, led us lower.

  • Earlier this week, we vibed the S&P 1523 level, noodling that it was "near-term business."

  • Hey, even a broken clock is right twice a day, right? The next level of vibage? S&P 1495ish. So it's said and so you know!

  • Oh Alanis, isn't it ironic that the financials were serving as the Cliff Branch earlier? The question, of course, is which way the ketchup will squirt. If the broader tape adheres to the "as goes the piggies" mantra, the downside poke has a ways to go.

  • The only difference between genius and madness is acceptance.

  • Is negative gamma still in play? Only on the individual plays---the index players are dressed in black, saying a put prayer.

  • A few folks have asked me (earlier this week) whether today, as the anniversary, increased the odds of a swoon. I said--and still say--no. The tape is digesting a lot of influences and while psychology is uber-important, anniversaries are not. At least, that's my take.

  • See the upcoming support in Schlumberger. This puppy may get pulled to par ($100) on expiration but between the 50-day and previous acne, Hoofy will have a technical backstop to lean against.

  • My brother was in town for the Boss concert last night and said he rocked the Garden. Hey Adam, what happened to my ticket? They name streets after you... they're called "One Way!"

  • It's looking like it's gonna be a humdinga at The Bull & Bear tonight for the worldwide television debut of Hoofy & Boo. If you're around, swing by (49th and Lexington ) starting at 4:30 to share a smile!

  • Deep breath Minyans, we're almost there.


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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