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Randoms: Cuts Like a Knife

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Tension builds on the Street.

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Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). It's being shared here for the benefit of the Minyanville community. See also What Does the Dollar Mean for Stocks? and General Malaise.


As the markets churned and burned around our near-term inflection (S&P 900), my instant message lit up with all sorts of "Whataya think here?" Based on what I'm seeing--and truth be told, what I'm feeling--I think folks are holding on too tight in a race to chase return.

That sword swings both ways, of course, and it's important that we see both sides. Always see both sides.

With that in mind:

  • I spy Mother Morgan (MS) and Grandma Goldman (GS) flipping the upside switch. I still think Bank America (BAC) is the tell of the tape but the puzzle is comprised of many pieces.

  • It is contra-hour, so keep that in mind, particularly if breadth stays 2:1 negative into the final frontier.

  • Kool & The Gang. July 24th. BB Kings. Awesome. (And yes, I'm old.)

  • In the recent Buzz & Banter survey, a few folks asked that I write less cryptically. To this, I will simply say Você um pouco mim escreveria a mesma maneira aborrecida que o descanso de meios financeiros faz? Seriously!

  • Speaking of seeing both sides, if I showed you this random chart with a nice, rounding bottom, would you wanna buy it or sell it?

  • Ya know what chart that is? The upside trading crack, or FAS. Homie don't play this name (or the FAZ) for anything more than a pure one or two day trade but I thought it was an interesting perspective nonetheless.

  • SO, in order for us to get the backside of the "W" started, doesn't perception need to shift back to "the cancer is bigger than the economic patient" again?

  • Yes, that was Portuguese.

  • I cannot tell a lie, I almost put them back out (read: re-initiated short side exposure) when they looked like S&P 900 gave way but hand sat and watched, as I said I would. I still wanna "short to buy," it's just a matter of time and price (as most things are).

  • That could be 3 pm (if breadth stays bunk and BAC stays punk) or it might mean biding time until S&P 950 gets closer through the lens of risk definition.

  • It's not how many trades you make--or even, for that matter how many trades you win--it's all about the process. The mechanics of the swing will always trump the results of the at-bat.

  • I used to tell my squad, "this is the big leagues, you play in pain." Now? "Sneeze and go home!"

  • Jeez, look at the time (and the prices). Lemme get this to you in a relatively timely fashion. As always, I hope this finds you well.


R.P.

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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 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.

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