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Todd Harrison: Random Thoughts on Bank Stocks, Twitter, and a Whiff of Deflation

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Get Todd Harrison's latest talking points on some important market issues.

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This article was originally posted on the Buzz & Banter where subscribers can follow over 30 professional traders as they share their ideas in real time. Want access to the Buzz plus unlimited market commentary? Click here to learn more about MVPRO+.

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.

R.P.

Twitter: @todd_harrison

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