Random Thoughts: China Rider!

By Todd Harrison Sep 20, 2012 10:25 am

The Grateful Dead try to awaken the bears.

Anyway, that's about all I have to say about that. I'm still short tech-down $0.35 on the position as I pound the keyboard on the opening-and I'll update it in real-time on the Buzz (click here for a free two-week trial!)

Random Thoughts:

I sense fireworks on the horizon-remember, expiration is tomorrow-the direction of which remains to be seen.

I attended the Pee-Wee football draft last night as I assume an assistant coaching position for the first time. Welcome to the burbs, Coach Harrison.

I heard on the radio this morning that household medium income has dropped for the fourth year in a row and was reminded of our old adage, "Inflation in things we need; deflation in things we want."

Should the tape scrape lower, we'll look at the price action in crude (-8% following the FOMC) and think to ourselves, "Commodity volatility typically precedes equity movement."

The financials, led by Goldman Sachs (NYSE:GS) and big beta, led by Google (NASDAQ:GOOG), Apple (NASDAQ:AAPL) and F5 (NASDAQ:FFIV) are leading the tape lower in the early going. Of course, it's not how the market opens, it's how the market closes that matters most.

Expiration influences typically manifest in the days prior to the actual expiry (tomorrow). That said, there is all sorts of chatter regarding re-weightings and re-balances on the close tomorrow. I've traded-quick math-roughly 264 expirations in my career and I don't try to game this sorta stuff, I just respect that it's "out there."

If your firm would like to sponsor Festivus 2012 and give back to the kids-come on now, it's a write-off!-please let us know. The sponsor banners will appear on every Minyanville article from here to there, as well as registration and signage at the event. Plus, it's a GREAT event that celebrates the journey with our community!

Good luck today; one step at a time as we continue to find our way.

R.P.

Twitter: @todd_harrison

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