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Random Thoughts: As Go the Financials, So Goes the Tape

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The financials are the truest proxy of our finance based, debt-dependent, derivative-laden globalized economy.

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  • Who's the mole that stole the stole?

  • The dollar continues to drift lower and that leaves a window open for upside in asset classes on a relative--not absolute (dollar-denominated)--basis.

  • Yes, both the greenback and asset classes can decline in synch. I just don't foresee a scenario where both trade higher. I could be wrong (Snoop Tony Dwyer thinks I will be) but that's my honest take.

  • Crude is off a deuce (2%) so it'll provide an upside catalyst for the stocks, right? Not so much.

  • The N's over S's dynamic continues as we edge through the Tuesday dew.

  • As I was chewing through my charts (yes, I need more hobbies), I stumbled across the BKX (banks) as it sat on the screen next to a chart of the S&P.

  • While there is a scenario where "funds are puking financials off their sheets into quarter-end and thereby skewing the historical relationship," the one constant for many years has been " as go the piggies, so goes the poke."

  • That dynamic has banked cake (both ways) for as long as I can remember. While that may not be saying much - I'm sorta A.D.D.- it's worthy of a mention.

  • That dynamic has banked cake (both ways) for as long as I can remember. While that may not be saying much - I'm sorta A.D.D.- it's worthy of a mention.

  • That dynamic has banked cake (both ways) for as long as I can remember. While that may not be saying much - I'm sorta A.D.D.- it's worthy of a mention.

  • The financials, after all, are the truest proxy of our finance based, debt-dependent, derivative-laden globalized economy. Don't shoot the messenger--I'm not rooting or tooting, I'm simply seeing and being.

  • I really gotta get out of NYC one of these days.

  • While I try to communicate my process (trading, not unfreezing), it's physically impossible to type and trade at the same time (trust me, I try).

  • In that vein, please understand that I don't communicate every trade in a particular position, be it yesterday's "fade and cover" or today's "opening nibble" as I dance around my Goldman put position. I will, as always, share if there is a material shift.

  • The Following Buzz Took Place between 10:00 AM and 11:00 AM

    Brusha Brusha Brusha!
    10:45 AM

    I see ye Snapper, Minyans--the S&P just filled the opening gap!--but keep half an eye on those internals as the S&P remains skewed 2:1 in favor of Boo.

    I'm gonna "let out" some of my morning nibbles in the context of defined risk (and consious that the lower dollar may provide yet another 'out').

    R.P.

  • I wonder how Bonnie Tyler would do in a tape like this?

  • Perspective Check: The VXO is still a teenager. I think she matures faster that a 25-year old with two kids.

  • If you can't decide whether to buy or sell a position, do nothing!

  • If I were to tell you in June, when Toll Brothers was thirty-something, that it was gonna be a teenager, where would you have thought the S&P would be?

  • What if I told you that crude was gonna be $80?

  • Or Bear Stearns would organically split three for two?

  • The average mind thinks 60,000 thoughts per day, of which 40,000 are recurring. If you factor in all the time you spend planning and thinking about what you wanna do, how many of your daily thoughts are mindful and present?

  • December 7, 2007. Be excited. Be very, very excited.


R.P.

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Positions in GS, S&P

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 todd@minyanville.com.

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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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