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Todd Harrison: Random Thoughts on Volatility, Performance Anxiety


Get Todd Harrison's latest musings on some pressing market issues.

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+.

In terms of volatility, remember they tend to take three days of premium out of options in front of the long weekend.

I've been dabbling in some SPY puts but I've flattened those as I wanna focus on the important stuff into said weekend.

The real action will start next week with a special post-Labor Day Turnaround Tuesday to start the year-end stretch.

Perfomance anxiety? Yep; with the NASDAQ up 9% and the S&P 500 (SPX) up 8%, fund managers are fighting to keep up with the Dow Joneses.

The bulls will point to every reason in the world (literally) to sell off and the reaction to the news being more important than the news itself.

The bears will point to red-lining complacency at all-time highs. Again.

The financials thus far hold above the first of the four support levels we highlighted yesterday.

I know it was pre-season but Derek Carr through more touchdowns than incompletions last night against the defending world champion Seahawks.  Can't remember the last time a Raider QB did that.

Cyber warfare used to be highlighted as one of our "big picture" concerns; it still is.

Market breadth is skewed negative, albeit marginally.

It'll be a lot thinner on the close then it was on the opening, and that's saying something. Size your risk for a thinner tape to avoid any unwanted surprises into your three-day respite.

As always, I hope this finds you well.


Twitter: @todd_harrison

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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

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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