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Todd Harrison: Bulls Celebrate Stocks at Highs With Fear at Lows
Underperformance isn't "Kool," no matter how you slice it.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our 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.

There's a party goin' on right here; a celebration to last throughout the years...
-- Kool & The Gang

The S&P 500 (INDEXSP:.INX) is at an all-time high, the Dow Jones Industrial Average (INDEXDJX:.DJI) is trading above 17,000, and anxiety, as measured by the VXO (INDEXCBOE:VXO), has never been lower -- ever.

With Independence Day upon us, the Bulls and their Gang have every reason to dance, Hurricane Arthur be damned. 

While some will argue the rally is synthetic, driven by manipulated agendas and bastardized by robots, anyone who bought (or held) until now is doing a jig all the way to the bank. Of course, paper gains are just that until a sale is registered, but why let semantics and process get in the way of a good time?

I was supposed to be on holiday this wee -- the second annual Del Corando respite with my wife and little one, enjoying some down time while the twins are at camp -- but it wasn't meant to be as there is too much to do. That's not as much a complaint as communication, for I know the alternative -- not enough to do -- wouldn't be much fun.

A holiday rendition of Random Thoughts? Glad you asked; in no particular order:

  • VXO 8.72, registered yesterday, is the all-time low for the volatility index; keep an eye on that as they typically take three days of theta out of premium before a long weekend. 


     
  • If you don't know what theta is, read this; one of the most valuable aspects of MV is the library of content from top-notch human capital, and Mr. Succo is best in breed when it comes to derivatives.
     
  • And here's the MV Dictionary, soup to nuts.
     
  • And our 20 Trading Commandments.  
     
  • And the Hoofy & Boo library. Weekend at Broadcom remains one of my faves.
     
  • I wonder if Twitter (NYSE:TWTR) is getting tired because the World Cup is edging closer to a finale?
     
  • Breadth on the big board is almost balanced -- interesting -- while the four-letter freaks enjoy a 2:1 positive status.
     
  • We flagged BKX (INDEXSP:BKX) 72 yesterday, which has been resistance over the last month.  We're through there now.


     
  • You know what?  With an entry price of $29.99, it would be silly not to sell some Twitter.  Stamp a ticket, I've gone home on the position.  This was a classic example of not letting an opinion get in the way of making money.
     
  • I know price targets are silly but please keep in the back of your mind that the S&P "bull case" price target has now been met.  So there's that!

R.P.

Twitter: @todd_harrison

Follow Todd and over 30 professional traders as they share their ideas in real time with a FREE 14 day trial to Buzz & Banter.
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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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Todd Harrison: Bulls Celebrate Stocks at Highs With Fear at Lows
Underperformance isn't "Kool," no matter how you slice it.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our 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.

There's a party goin' on right here; a celebration to last throughout the years...
-- Kool & The Gang

The S&P 500 (INDEXSP:.INX) is at an all-time high, the Dow Jones Industrial Average (INDEXDJX:.DJI) is trading above 17,000, and anxiety, as measured by the VXO (INDEXCBOE:VXO), has never been lower -- ever.

With Independence Day upon us, the Bulls and their Gang have every reason to dance, Hurricane Arthur be damned. 

While some will argue the rally is synthetic, driven by manipulated agendas and bastardized by robots, anyone who bought (or held) until now is doing a jig all the way to the bank. Of course, paper gains are just that until a sale is registered, but why let semantics and process get in the way of a good time?

I was supposed to be on holiday this wee -- the second annual Del Corando respite with my wife and little one, enjoying some down time while the twins are at camp -- but it wasn't meant to be as there is too much to do. That's not as much a complaint as communication, for I know the alternative -- not enough to do -- wouldn't be much fun.

A holiday rendition of Random Thoughts? Glad you asked; in no particular order:

  • VXO 8.72, registered yesterday, is the all-time low for the volatility index; keep an eye on that as they typically take three days of theta out of premium before a long weekend. 


     
  • If you don't know what theta is, read this; one of the most valuable aspects of MV is the library of content from top-notch human capital, and Mr. Succo is best in breed when it comes to derivatives.
     
  • And here's the MV Dictionary, soup to nuts.
     
  • And our 20 Trading Commandments.  
     
  • And the Hoofy & Boo library. Weekend at Broadcom remains one of my faves.
     
  • I wonder if Twitter (NYSE:TWTR) is getting tired because the World Cup is edging closer to a finale?
     
  • Breadth on the big board is almost balanced -- interesting -- while the four-letter freaks enjoy a 2:1 positive status.
     
  • We flagged BKX (INDEXSP:BKX) 72 yesterday, which has been resistance over the last month.  We're through there now.


     
  • You know what?  With an entry price of $29.99, it would be silly not to sell some Twitter.  Stamp a ticket, I've gone home on the position.  This was a classic example of not letting an opinion get in the way of making money.
     
  • I know price targets are silly but please keep in the back of your mind that the S&P "bull case" price target has now been met.  So there's that!

R.P.

Twitter: @todd_harrison

Follow Todd and over 30 professional traders as they share their ideas in real time with a FREE 14 day trial to Buzz & Banter.
< Previous
  • 1
Next >
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Todd Harrison
Daily Recap
Todd Harrison: Bulls Celebrate Stocks at Highs With Fear at Lows
Underperformance isn't "Kool," no matter how you slice it.
Todd Harrison    

Editor's Note: Todd posts his vibes in real time each day on our 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.

There's a party goin' on right here; a celebration to last throughout the years...
-- Kool & The Gang

The S&P 500 (INDEXSP:.INX) is at an all-time high, the Dow Jones Industrial Average (INDEXDJX:.DJI) is trading above 17,000, and anxiety, as measured by the VXO (INDEXCBOE:VXO), has never been lower -- ever.

With Independence Day upon us, the Bulls and their Gang have every reason to dance, Hurricane Arthur be damned. 

While some will argue the rally is synthetic, driven by manipulated agendas and bastardized by robots, anyone who bought (or held) until now is doing a jig all the way to the bank. Of course, paper gains are just that until a sale is registered, but why let semantics and process get in the way of a good time?

I was supposed to be on holiday this wee -- the second annual Del Corando respite with my wife and little one, enjoying some down time while the twins are at camp -- but it wasn't meant to be as there is too much to do. That's not as much a complaint as communication, for I know the alternative -- not enough to do -- wouldn't be much fun.

A holiday rendition of Random Thoughts? Glad you asked; in no particular order:

  • VXO 8.72, registered yesterday, is the all-time low for the volatility index; keep an eye on that as they typically take three days of theta out of premium before a long weekend. 


     
  • If you don't know what theta is, read this; one of the most valuable aspects of MV is the library of content from top-notch human capital, and Mr. Succo is best in breed when it comes to derivatives.
     
  • And here's the MV Dictionary, soup to nuts.
     
  • And our 20 Trading Commandments.  
     
  • And the Hoofy & Boo library. Weekend at Broadcom remains one of my faves.
     
  • I wonder if Twitter (NYSE:TWTR) is getting tired because the World Cup is edging closer to a finale?
     
  • Breadth on the big board is almost balanced -- interesting -- while the four-letter freaks enjoy a 2:1 positive status.
     
  • We flagged BKX (INDEXSP:BKX) 72 yesterday, which has been resistance over the last month.  We're through there now.


     
  • You know what?  With an entry price of $29.99, it would be silly not to sell some Twitter.  Stamp a ticket, I've gone home on the position.  This was a classic example of not letting an opinion get in the way of making money.
     
  • I know price targets are silly but please keep in the back of your mind that the S&P "bull case" price target has now been met.  So there's that!

R.P.

Twitter: @todd_harrison

Follow Todd and over 30 professional traders as they share their ideas in real time with a FREE 14 day trial to Buzz & Banter.
< Previous
  • 1
Next >
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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