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Random Thoughts: Life and Death on Wall and Broad


We used to play for silver, now we play for life.


Random Thoughts:
  • Just when you thought the world's wildest reality show couldn't get any better, I'll draw your attention to the S&P (INDEXSP:.INX) trend channel that's been in place since the spring low.
  • If we break here-and note there was already one false breakdown earlier this year-a technical picture points toward Nasdaq (INDEXNASDAQ:NDX) 1350, as shown on the chart below.
  • Emotional markets are whippy markets; you don't have to see it, you just have to respect that it's in motion. And remember, my friends, emotion is the enemy when trading!
  • Q4. Get used to saying it. It will define the year for a lotta folks, and I'm not just talking money. Social moods and risk appetites shape financial markets. It is that simple, or it was until the Grand Experiment began.
  • Was this week's slippage a healthy retracement-and we bounced right where we had to-or was yesterday a pause that lent credence to the "denial" phase of the bear case?
  • I entered today's session with Facebook (NASDAQ:FB) (bought yesterday on the Buzz at $20 and a stop below recent lows), I have some NDX December out-of-the-money puts (bought when the underlying was trading at QQQ (NASDAQ:QQQ) $68.30) and I nibbled on a snivlet of Google (NASDAQ: GOOG) puts yesterday with the stock trading around $760).
  • In other words, I'm playing the alpha with some gamma and rocking to the beat of the steady drip of theta. Αν αυτ? ε?ναι ?λληνες να σας If that's Greek to you, check out this six-part series on derivatives written by one of the best option minds to ever play the game.
  • There is gonna be a fair amount of volatility coming our way-way more than a VXO (^VXO) 14 would seemingly indicate.
  • Oh come on, take a free two-week trial to the Buzz. It's awesome, and it's our best actionable trading content in real-time.
  • We've secured the same bands for Festivus 2012 to benefit The Ruby Peck Foundation for Children's Education. If you like Journey or U2-or helping less fortunate children-this is the gig for you! Please join us in giving back and have a great time doing it!
  • Have a great weekend; you most certainly earned it!

Twitter: @todd_harrison

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Position in GOOG, QQQ, FB.
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