Todd Harrison: Random Thoughts on Bank Stocks, Twitter, and a Whiff of Deflation
Get Todd Harrison's latest talking points on some important market issues.
Here are my latest thoughts on the market, in no particular order:
Premature evacuation on my SPY (NYSEARCA:SPY) puts but that's OK; I learned long ago not to complain when you make money on a trade.
It could be worse -- I could still be holding my Deutsche Bank (NYSE:DB) calls (I'm not).
Stocks down, gold down, oil down, dollar firm. If I didn't know better, I would offer that this smells like a whiff of deflation.
BKX (INDEXCME:BKX) 70 should be on your radar; as go the piggies, so goes the poke.
How do you not cover when you catch 35 SPU handles on the downside? Pavlov's Dog would already be long.
High-beta (as a risk proxy) is getting hammered today but heck, you could throw a dart at the tape and say the same thing about anything.
Sometimes the ability not to trade is as important as trading ability. And sometimes you've just gotta close your eyes and sell rallies.
I don't frequent Twitter (NYSE:TWTR) or Facebook (NASDAQ:FB) as much as I used to -- I'm taking a bit of a digital respite -- but I would imagine the infighting on (pick a topic, any topic) is raging good and thick.
S&P (INDEXSP:.INX) 1950 is now resistance, if and when; S&P 1900 remains near-term support. Stair-stepping is a good way to measure risk.
Yes, I'm still watching GW Pharma (NASDAQ:GWPH) -- $80 is an important technical toggle.
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As always, I hope this finds you well.
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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 firstname.lastname@example.org.
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