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Todd Harrison: Freaky Friday Random Thoughts
Traders shed risk into the weekend.
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.

It's Freaky Friday -- and a sloppy one at that -- so in the interest of respecting your time, and as a function of not having much myself, we'll dive right into it.

Random Thoughts:

  • Yesterday we offered that Russia may very well matter again. That didn't take long.
     
  • Remember, the end goal of war -- in various, capacities -- is economic destruction. We're not there yet, but the needle continues to point in that direction. And please don't shoot the messenger, particularly one who has been to 60 Grateful Dead shows (peace).
     
  • We updated the SMART money index below; you'll note that the two sides have now 'hooked' toward each other, with a long way to go before they reconcile. It's just one measure, of course, but it's worth keeping an eye on as it has preceded downdrafts in the past.

 
  • Consumer nondurables -- traditionally a safe haven -- and metal equities are a better bid on a relative basis today. The semis, weighed down by KLA-Tencor (NASDAQ:KLAC), are a source of funds, along with the high-beta realm.
     
  • Interestingly, biotech hangs in above the 200-day moving average at IBB (NASDAQ:IBB) 221.50.
     
  • The CBOEO EX Implied Volatility (INDEXCBOE:VXO) index is up 10%; all the way to 14.  It's got plenty of room through a historical lens.
     
  • The banks lagged the reflex rally in the S&P 500 (INDEXSP:.INX), per the second chart below. As go the piggies...

 
  • Geopolitical concerns into the weekend? I feel like we've seen this movie before.
     
  • GW Pharma (NASDAQ:GWPH) is sitting on its 50-day moving average in and around $62.50. The 200-day, for purposes of perspective, is down at $36. I sold my stock this week between $66 and $71 and will look for the right time and price to reenter.
     
  • NYSE (INDEXNYSEGIS:NYA) internals are 2:1 negative, while Nasdaq 100 (INDEXNASDAQ:NDX) breadth is 4:1 negative, which is helping to drive another "S's over N's" outperformance.
     
  • In a world of high-frequency trading (HFT), the markets can change on a dime; given the current price action and internals into the weekend, it's the bears' ball to fumble into the close.
     
  • The bulls will argue that the market is deflating the frothiest sectors (high-beta tech) with the S&P less than 2% from all-time highs. That's true, with the caveat that these names led us higher and they may well lead us lower.
     
  • Amazon (NASDAQ:AMZN) is down $55 (17% from its overnight high), Tesla (NASDAQ:TSLA) down $10, Netflix (NASDAQ:NFLX) down $15, Priceline (NASDAQ:PCLN) down $42 -- just another day at the office.
     
  • Days like today yearn for some trading commandments, and here they are.
     
  • As always, I hope this finds you well.
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
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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: Freaky Friday Random Thoughts
Traders shed risk into the weekend.
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.

It's Freaky Friday -- and a sloppy one at that -- so in the interest of respecting your time, and as a function of not having much myself, we'll dive right into it.

Random Thoughts:

  • Yesterday we offered that Russia may very well matter again. That didn't take long.
     
  • Remember, the end goal of war -- in various, capacities -- is economic destruction. We're not there yet, but the needle continues to point in that direction. And please don't shoot the messenger, particularly one who has been to 60 Grateful Dead shows (peace).
     
  • We updated the SMART money index below; you'll note that the two sides have now 'hooked' toward each other, with a long way to go before they reconcile. It's just one measure, of course, but it's worth keeping an eye on as it has preceded downdrafts in the past.

 
  • Consumer nondurables -- traditionally a safe haven -- and metal equities are a better bid on a relative basis today. The semis, weighed down by KLA-Tencor (NASDAQ:KLAC), are a source of funds, along with the high-beta realm.
     
  • Interestingly, biotech hangs in above the 200-day moving average at IBB (NASDAQ:IBB) 221.50.
     
  • The CBOEO EX Implied Volatility (INDEXCBOE:VXO) index is up 10%; all the way to 14.  It's got plenty of room through a historical lens.
     
  • The banks lagged the reflex rally in the S&P 500 (INDEXSP:.INX), per the second chart below. As go the piggies...

 
  • Geopolitical concerns into the weekend? I feel like we've seen this movie before.
     
  • GW Pharma (NASDAQ:GWPH) is sitting on its 50-day moving average in and around $62.50. The 200-day, for purposes of perspective, is down at $36. I sold my stock this week between $66 and $71 and will look for the right time and price to reenter.
     
  • NYSE (INDEXNYSEGIS:NYA) internals are 2:1 negative, while Nasdaq 100 (INDEXNASDAQ:NDX) breadth is 4:1 negative, which is helping to drive another "S's over N's" outperformance.
     
  • In a world of high-frequency trading (HFT), the markets can change on a dime; given the current price action and internals into the weekend, it's the bears' ball to fumble into the close.
     
  • The bulls will argue that the market is deflating the frothiest sectors (high-beta tech) with the S&P less than 2% from all-time highs. That's true, with the caveat that these names led us higher and they may well lead us lower.
     
  • Amazon (NASDAQ:AMZN) is down $55 (17% from its overnight high), Tesla (NASDAQ:TSLA) down $10, Netflix (NASDAQ:NFLX) down $15, Priceline (NASDAQ:PCLN) down $42 -- just another day at the office.
     
  • Days like today yearn for some trading commandments, and here they are.
     
  • As always, I hope this finds you well.
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.

Daily Recap
Todd Harrison: Freaky Friday Random Thoughts
Traders shed risk into the weekend.
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.

It's Freaky Friday -- and a sloppy one at that -- so in the interest of respecting your time, and as a function of not having much myself, we'll dive right into it.

Random Thoughts:

  • Yesterday we offered that Russia may very well matter again. That didn't take long.
     
  • Remember, the end goal of war -- in various, capacities -- is economic destruction. We're not there yet, but the needle continues to point in that direction. And please don't shoot the messenger, particularly one who has been to 60 Grateful Dead shows (peace).
     
  • We updated the SMART money index below; you'll note that the two sides have now 'hooked' toward each other, with a long way to go before they reconcile. It's just one measure, of course, but it's worth keeping an eye on as it has preceded downdrafts in the past.

 
  • Consumer nondurables -- traditionally a safe haven -- and metal equities are a better bid on a relative basis today. The semis, weighed down by KLA-Tencor (NASDAQ:KLAC), are a source of funds, along with the high-beta realm.
     
  • Interestingly, biotech hangs in above the 200-day moving average at IBB (NASDAQ:IBB) 221.50.
     
  • The CBOEO EX Implied Volatility (INDEXCBOE:VXO) index is up 10%; all the way to 14.  It's got plenty of room through a historical lens.
     
  • The banks lagged the reflex rally in the S&P 500 (INDEXSP:.INX), per the second chart below. As go the piggies...

 
  • Geopolitical concerns into the weekend? I feel like we've seen this movie before.
     
  • GW Pharma (NASDAQ:GWPH) is sitting on its 50-day moving average in and around $62.50. The 200-day, for purposes of perspective, is down at $36. I sold my stock this week between $66 and $71 and will look for the right time and price to reenter.
     
  • NYSE (INDEXNYSEGIS:NYA) internals are 2:1 negative, while Nasdaq 100 (INDEXNASDAQ:NDX) breadth is 4:1 negative, which is helping to drive another "S's over N's" outperformance.
     
  • In a world of high-frequency trading (HFT), the markets can change on a dime; given the current price action and internals into the weekend, it's the bears' ball to fumble into the close.
     
  • The bulls will argue that the market is deflating the frothiest sectors (high-beta tech) with the S&P less than 2% from all-time highs. That's true, with the caveat that these names led us higher and they may well lead us lower.
     
  • Amazon (NASDAQ:AMZN) is down $55 (17% from its overnight high), Tesla (NASDAQ:TSLA) down $10, Netflix (NASDAQ:NFLX) down $15, Priceline (NASDAQ:PCLN) down $42 -- just another day at the office.
     
  • Days like today yearn for some trading commandments, and here they are.
     
  • As always, I hope this finds you well.
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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