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Random Thoughts: China Rider!
The Grateful Dead try to awaken the bears.
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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.
Twitter: @todd_harrison
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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.
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