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Todd Harrison: Twitter, The Tape, and the FOMC


Twitter is a long-term winner.

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.

Twitter (TWTR) whiffed and everyone is suddenly calling for Dick Costolo's head.  I don't know from that and while I'm on currently on the sidelines, I do believe Twitter is a long-term winner.  To mitigate market risk, I would consider pairing it against a social short; and yes, I believe that short is Facebook (FB).

FOMC tomorrow is gonna tell the tale and set the sails, presumably answering the question of whether the recent rebound is a V-bottom or a retest of the multi-year downtrend.

I'm in the latter camp but Lord knows I've been there / wrong before.  The single biggest fly to that thesis is under-invested fund managers who are playing ketchup and stopped out against losing their assets anyway.

3:1 positive breadth, reaction to news (NYC Ebola on Friday, Brazil elections yesterday, crude as a whole) and the price action in China are all pointing north by northeast.  So there's that.

I had my annual physical yesterday and my doctor suggested I lose 50 lbs (not a typo).  I thought he was kidding until he brought up my 3-year old and asked if I wanted to see my grandkids.  Now, I own the first 20; maybe even 25...but 50?  Doesn't he know that muscle weighs more than fat?  Consider the message received, even if I don't wanna hear it.

That reminds me of something else...

If my dear friend Bennet Sedacca were here, my IM would light up right about now with a "GS RED"

Biotech as a "tell" for year-end performance anxiety?  Yep; bang for the buck.  High beta tech, too.


Good luck today; and take it easy.


Twitter: @todd_harrison

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